Author - Aman Aditya
With the Budget date coming closer, today our President Ram Nath Kovind has officially addressed the parliament for opening the budget session. With this, our Union Finance Minister Nirmala Sitharaman tabled the Economic Survey 2020-21 in Parliament today.
The survey analyses the trends in infrastructure, agricultural and industrial production, employment, prices, exports, imports, money supply, foreign exchange reserves, and other factors that are having an impact on the budget as well as on the Indian economy.
According to the Economic survey 2020-21: India is likely to show economic growth of 11% in the next fiscal year due to the sharp recovery of the country from this Pandemic-induced slump.
The major contributor for this growth is the rolling out of the vaccines against COVID-19, which will boost Asia's 3rd largest economy with 11% growth in the coming fiscal year, with this India is set to mark its strongest growth since the Liberalization of the economy (1991). In addition to this, the government is also expecting the "V-Shaped" economic rebound with the vaccines over the counter and the recovery in demand.