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Economic Survey 2020: Here are the key highlights

Updated : 2020-01-31 16:12:37

 Finance Minister Nirmala Sitharaman on Friday tabled the Economic Survey 2020 in Parliament. The survey, prepared by Chief Economic Advisor Krishnamurthy Subramanian.

India’s economic survey said intervention by the government, though well-intended, often ends up undermining the ability of markets to create wealth and leads to outcomes that are the opposite of the intentions.

The survey, which forecast growth of 6-6.5 percent in the next financial year starting April 1, gave the examples of commodities, drugs, foodgrain and debt waivers to buttress this point.

Here are the key highlights of the survey:

Banks may remain risk averse unless IBC process speeds
Banks may remain risk averse unless IBC process speeds
Length of Indian business cycle appears to be 13 quarters
Length of Indian business cycle appears to be 13 quarters
Global sentiment continues to favour India
Global sentiment continues to favour India
Economic Survey 2020 sees room to further rationalise subsidies, especially food
Economic Survey 2020 sees room to further rationalise subsidies, especially food
Food subsidy rationalisation is a key tool to fiscal management; counter-cyclical fisc steps to up consumer sentiment
Food subsidy rationalisation is a key tool to fiscal management; counter-cyclical fisc steps to up consumer sentiment
GST buoyancy key to Centre, state revenue position; see FY20 tax collections to be lower Vs estimate
GST buoyancy key to Centre, state revenue position; see FY20 tax collections to be lower Vs estimate
Economic Survey 2020 says Cut in capex by govt may adversely hurt growth; must focus on trimming non-committed revenue spend
Economic Survey 2020 says Cut in capex by govt may adversely hurt growth; must focus on trimming non-committed revenue spend
See evidence for strong reversion of headline CPI to core
See evidence for strong reversion of headline CPI to core
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