Economic Survey 2019-20 has projected economic growth at 6 to 6.5 percent in the next fiscal. It has suggested that industrial sector performance is key to achieve the target of a five trillion dollar economy. The Economic Survey 2019-20, tabled by the Finance Minister Nirmala Sitharaman in Parliament, also suggested sectoral initiatives for industrial revival. <br />''<br />''The Economic Survey gave a detailed analysis of the trends in India's infrastructure sector. The Survey emphasized that investment in infrastructure is necessary for growth. Power shortages, inadequate transport, and poor connectivity affect overall growth performance. To achieve GDP of five trillion dollars by 2024 – 25, India needs to spend about 100 lakh crore rupees on infrastructure.<br />''<br />''According to the survey, there is a significant jump of around 2.62 crore new jobs with 1.21 crore in rural areas and 1.39 crore in urban areas. Over 69 lakh candidates have been trained under Pradhan Mantri Kaushal Vikas Yojana till November last year. The Economic Survey underscores various programmes and legislative measures that are in place to encourage female participation in the economy.<br />''<br />''The survey also stated that India's large economy needs an efficient banking sector to support growth. The Survey expressed that if Indian banks were proportionately large in relation to the size of the Indian economy, India should have at least six banks in the global top 100 Banks. Presently the State Bank of India which is the largest public sector bank is at the 55th rank in the list.
News On AIR | January 31, 2020 4:49 PM
Economic Survey 2020 tabled in Parliament; projects growth at 6 to 6.5% for next fiscal