NEW DELHI: The Economic Survey 2020-21 will be tabled in Parliament today, two days before presentation of the Union Budget.
The survey will provide an estimate of the economic development across the country during the financial year.
Like every year, the survey will make an analysis of the trends in infrastructure, agricultural and industrial production, employment, prices, exports, imports, money supply and forex reserves, apart from all other factors that influence the economy and the budget.
The survey will also present economic growth forecasts, along with reasons why the government thinks the economy will expand or shrink.
According to sources, the survey may predict a steep recovery from Covid slump, with a forecast of 11 per cent GDP growth for 2021-22.
For this fiscal (2020-21), the survey is likely to peg economic contraction at 7.7 percent, the sharpest fall in four decades.
Nominal GDP may be seen by the survey as rising to 15.4%, the most since 1947, which may lead to higher tax collections, said one source to Reuters.
As a usual practice, the survey’s forecasts are often the basis for key figures in the budget.
With inputs from agencies
Source : Financial Express