New Delhi: Finance minister Nirmala Sitharaman tabled Economic Survey in Parliament on Friday — a day ahead of Union Budget 2020. Later, Chief Economic Advisor Krishnamurthy Subramanian addressed a press meet explaining the major takeaways of the economic survey. Also Read - Union Budget 2020: Government Tables Economic Survey, Pegs Growth Rate at 6-6.5% For FY 2020-21
Economic Survey Theme: Wealth Creation Also Read - Union Budget 2020: Confused Between Tax Exemption, Deduction And Rebate? Here's What to Know
“As PM Narendra Modi said wealth can’t be distributed unless it’s created,” said the CEA explaining why wealth creation has been chosen as the theme of this year’s economic survey Also Read - Union Budget 2020: Aluminium Industry Seeks Lower Import Duty on Key Raw Materials
Economic Survey Colour: Lavender
The colour of the book is significant. In 2018, it was pink to symbolise women empowerment. This year, the chosen colour is lavender. “This is after the new notes of Rs 100,” the CEA said.
India’s economic growth is expected to “strongly rebound” to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal, the Economic Survey said on Friday, adding that the government with a strong mandate has the capacity to expedite reforms. The Economic Survey 2019-20 tabled in Parliament said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.
The government’s thrust on affordable housing, Make in India, reduction in corporate tax rate, and improvement in ease of doing business, besides others factors, will help in boosting economic growth, it said.