Economic Survey 2020 proposed in Parliament, projects growth at 6 to 6.5 per cent for the next revenue

Economic
Survey 2019-20 has projected economic growth at 6 to 6.5% in fiscal year
starting 1st of April  this year.

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It has put
current fiscal growth at 5% and said the fiscal deficit target for current
fiscal may need to be relaxed to revive growth.

Finance
Minister Nirmala Sitharaman today tabled Economic Survey in both the houses of
Parliament. The survey called for more reforms for making it easier to do
business in country.

The survey
said for India to achieve a five trillion US dollar economy depends on
promoting pro-business policies, strengthening the invisible hand of the market
and ease of  doing business.

The survey
has given emphasis on entrepreneurship and Wealth Creation at the
Grassroots.  It said, about 1.24 lakh new
firms were created in 2018, which is an increase of about 80 per cent from
about 70,000 in 2014.

Talking
about Creation of Jobs and boosting growth, the Survey said, India has unmatched
opportunity to chart a China-like labour-intensive, export trajectory. The
survey emphasizes on creating jobs and growth by specialization in network
products.

It said, the
industrial sector as per Index of Industrial Production  registered a growth of 0.6% in 2019-20 (April-November)
as compared to 5% during 2018-19 (April-November).