Finance Minister Nirmala Sitharaman has presented the Economic Survey in the Lok Sabha for the financial year 2020-21. The economic survey has estimated that the growth rate in the next financial year could be between six and 6.5 percent. The survey reveals that on the financial front, we should face difficulties in the next year. It was introduced in the Rajya Sabha after the Lok Sabha. 4 crore with well-paid jobs be provided by 2025 and 8 crore jobs by 2030. It will also make it possible to accelerate to an economy target of $ 5 trillion.
The Economic Survey is presented so that it can know how the economy has been in the current financial year and how it can be further improved in the coming financial year. In preparing the budget, the government announces necessary measures to implement the suggestions given in this survey.
This time economic survey has emphasized on Thalinomics. In Thalinomics, it is reported that food is reaching the plate of a person properly or not. The survey has said that there has been a 29 per cent increase in thalanomics in this financial year. Because of this, every family has saved Rs 10,887 every year.
Special features of the Economic Survey…
- There may be a decrease in tax collection in the current financial year.
- The government is expected to increase collection from GST, but there is no clarity about it.
- The Economic Survey said that the growth rate will grow at a rate of five percent in the current financial year.
- India is being counted among the major countries in the world.
- The government will have to take many measures to increase demand, so that it can be removed from lethargy.
- The survey says that many rules will have to be relaxed to increase growth.
- India is also being affected by weakness in global growth.
- Growth in the current financial year also declined due to lack of investment due to financial sector problems.
- Aim to double farmers’ income by 2022.
- Government will provide loans and other facilities for small industries.
- Investment in roads and highways has tripled between 2014-15 and 2018-19.
- 95 percent of the trade in the country is being done by sea.
- IL&FS saw an atmosphere of concern in the NBFC sector of the country.
- To deal with this crisis, a health score has been prepared in the survey, with the help of which one can send alerts in advance.
- This will enable investors and banks to deal with any situation beforehand in case of default in NBFC companies.
- Between 2011-12 to 2017-18, 2.62 crore people have got new jobs.
- Indian Railways set a record for carrying the largest number of passengers in the world. During this period, 120 million tonnes of freight and 840 crore passengers have traveled.
- In order to increase the growth rate, attention has been given to manufacturing.
- In this, jobs can be increased by assembling in India on the lines of China.
- Emphasis has been placed on increasing exports by abolishing the leaf-blaming at the port.
- Along with this, to increase the Ease of Doing Business, many rules have been relaxed.
- The survey also talks about increasing the efficiency of public sector banks.
The economic survey presented this time has been printed on lavender colored paper. This is the color on which a new note of 100 rupees is now printed.
This economic survey has been prepared by the team of Chief Economic Advisor Krishnamurthy Subramanian in just six months. Economic survey shows that how the country was on the economic front in the last year. Through the Economic Survey, the Chief Economic Advisor also gives suggestions to the government, so that the objectives of the economy can be achieved.