29 January,2021 01:55 PM IST | New Delhi | PTI
Union Finance Minister Nirmala Sitharaman. Pic/AFP
Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government's Budget for fiscal year beginning April 1, 2021.
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year.
The gross domestic product (GDP) contracted by a record 23.9 per cent in April-June and by 7.5 per cent in the second quarter.
ALSO READ
Rupee falls 3 paise to close at 83.69 against US dollar post Union Budget 2024
No friction between Centre-states on GST, federal structure should be respected: Nirmala Sitharaman
Indian women leading 18 pc of 111 unicorns in India: FM Nirmala Sitharaman
Govt needs money to meet challenges, fund R&D, says Sitharaman
Former finmin official writes to FM seeking probe into Hindenburg report
For the full fiscal, the survey projected a contraction of 7.7 per cent and V-shaped recovery in the next.
GDP growth is seen expanding by 11 per cent in the 2021-22 fiscal (April 2021 to March 2022).
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
