Budget Session 2020 Highlights: GDP growth rate for 2018-19 revised downwards to 6.1 per cent

Budget Session 2020 Live: CEA KV Subramanian (Express photo: Tashi Tobgyal/File)

Economic Survey 2020 India Today Highlights: Acknowledging the economic slowdown in the country, Chief Economic Advisor Dr Krishnamurthy Subramanian on Friday said, “We have a slowdown in the Indian economy. A part of it is because of the global economy slowing down in 2019”. He added that the Economic Survey’s theme this year is wealth creation.

Addressing a press conference after Finance Minister Nirmala Sitharaman tabled the Economic Survey in the Parliament, Dr Subramanian said, “Economic slowdown since 2017 is due to the lagged effect of reduced investment from 2013, which occurred due to credit boom-bust.” “If wealth had not been eroded by wilful defaulters, we could have spent almost double the amount on social sectors,” he added.

The Economic Survey 2019-2020, tabled by Finance Minister Nirmala Sitharaman, projected the economic growth of 6 to 6.5 per cent in the fiscal year starting April 1. The Survey is a report the government presents on the state of the economy in the past one year, the key challenges it anticipates, and their possible solutions.

The Budget session is scheduled to extend till April 3; it will go into recess on February 11 and resume on March 2. The Union Budget 2020 will be tabled in Parliament on Saturday, February 1, by Finance Minister Nirmala Sitharaman.