29 Jan 2021

Prediction on India GDP Growth rate: this year GDP will fall -7.7%, and next year GDP will increase to 11% predicted.

The Economic Survey has predicted a decline in growth rate this year, while the growth rate for the next year has been said. The Economic Survey puts forward the picture of the country's economy in the last one year.

Ahead of the annual Budget to be presented on February 1, Union Finance Minister Nirmala sitharaman released the Economic Survey 2020-21 in parliament on friday, which projected a contraction of 7.7 per cent for the current fiscal and V-shaped recovery in the next fiscal. The survey also indicated GDP growth is seen expanding by 11 percent in 2021-22 fiscal (April 2021 t March 2022).

The Economic Survey 2020-21, has been prepared under the guidance of Chief Economic Adviser Krishnamurthy Venkata Subramanian and his team. It mentions the state of the economy and the impact f covid on various sectors including the reforms be implemented to promote growth.

The annual survey usually focuses on the trends in infrastructure, agricultural and industrial production, employment, prices, exports, imports, money supply, foreign exchange reserves and other factors that have an impact on the indian economy and the budget.

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