The second general budget of the Modi government's second term in India can be presented in Parliament on Saturday, February 1. The Economic Survey 2019-20, one day before the general budget, has been presented in Parliament today when the budget session starts on Friday. The economic survey prepared under the leadership of the country's Chief Economic Advisor Krishnamurthy Subramaniam has put the accounts of India's economy in front of the Parliament. Krishnamurthy said that his team has prepared a second economic survey in 6 months.
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Economic Survey 2020:
-Economic survey states that the government should use its majority to bring about rapid reforms, so that the economy can get back on track in FY 2020-21.
- Economic survey has said that there is a need to improve governance in public sector banks. More flow of information is also needed to strengthen trust.
- Promote a pro-business policy, which gives an opportunity to open up the powers of competitive markets to generate wealth.
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- Economic Survey has stated the need to start a new business, register property, pay taxes and take steps to make it easier to implement contracts.
- The government's interventions to keep the prices of commodities like interest stable are proving ineffective.
- The survey states that more reforms are needed to make business in the country easier.
- The survey states that weak global growth has affected India. The current economic growth has come at the lowest level of a century due to sluggish investment and weak global growth due to financial sector issues.
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- Economic survey has given 10 new ideas for the benefit of the market and economy.
- Economic survey has been printed in lavender color this year.
- Economic survey has given the current economic growth rate of 5%. The survey said that to bring back growth, the current fiscal deficit target needs to be relayed.
- Economic survey has said that the country's economic growth is expected to be between 6 and 6.5% in the financial year starting April 1.
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