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India's economic survey likely to forecast 2020/21 growth at 6%-6.5%: source

Reuters
Filed on January 31, 2020
economic survey, forecast, India economic survey, budget

India faces its worst economic slowdown in a decade.

India's economic survey is seen projecting growth of 6 per cent to 6.5 per cent in the next year starting April 1, boosted by a series of fiscal measures to revive demand that the government is likely to announce in the budget, a source said on Friday.

India faces its worst economic slowdown in a decade. Growth slipped to 4.5 per cent in the July-September quarter, imperiling job prospects for millions of young people entering the workforce each year.

The government has estimated gross domestic product expansion at 5 per cent for the financial year ending on March 31, which would be the slowest pace since the global financial crisis of 2008/09.

An economic survey by chief economic adviser Krishnamurthy Subramanian will be officially announced later in the day and the government will present its budget on Saturday.


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