Economic survey will likely forecast 2020-21 growth at 6% -6.5%: Report
NEW DELHI: It is seen that India projects a growth of 6% to 6.5% in the next year from April 1, driven by a series of fiscal measures to revive the demand that the government will probably announce in the budget, said a source on Friday.
India faces its worst economic slowdown in a decade. Growth fell to 4.5% in the July-September quarter, jeopardizing job prospects for millions of young people entering the workforce each year.
The government has estimated a 5% gross domestic product expansion for the financial year ending March 31, which would be the slowest pace since the global financial crisis of 2008/09.
An economic survey conducted by the main economic advisor Krishnamurthy Subramanian will be officially announced later in the day and the government will present its budget on Saturday.