Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey 2019-20 in parliament. The survey is presented just before a day she presents Budget 2020in the parliament.
The Economic Survey is an annual document of the finance ministry which reviews economic progress and issues of the past fiscal year and particularly provide with the details of well-performed government's development schemes. The survey also analyses the performance of important government policies and their impact
Some Key Points Incorporated In The Survey Are:
1)An uptick in GDP growth expected in the second half of 2019-20
2)First advance estimates peg growth for overall fiscal at 5%
3)Industrial development in 2019-20 is estimated at 2.5%
4)GDP growth is expected to grow in the range of 6.0 to 6.5% in 2020-21
5)Government should deliver expeditiously on reforms
6)Gst collections increased by 4.1% for the centre during April-November, 2019
7)Share of formal employment grows from 17.9% in 2011 -12 to 22.8% in 2017-18
Also Read: Budget 2020: Economic Survey projects economic growth at 6% to 6.5% in 2020-21
8)Imports decrease more sharply than exports in 1st half of 2019-20
9)Inflation decreases from 3.2% in April 2019 to 2.6 per cent in December 2019
10)Agricultural development shows moderate revival in the first half of 2019
11)Foreign Exchange reserves continue to be comfortable
12)FDI inflows and overseas remittances on an upward scale
13)Inflation witnessing moderation since 2014
14) The volatility of prices for most essential food commodities down in 2014-19