Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman
Image for representation. Photograph:( Reuters )
Story highlights
The Economic Survey 2020-21 presented in Parliament on January 31 pegged economic growth in the range of 6 per cent to 6.5 per cent.
Finance Minister Nirmala Sitharaman on Saturday pegged nominal gross domestic product (GDP) growth at 10 per cent for FY21 in the Union Budget presented on Saturday.
The Economic Survey 2020-21 presented in Parliament on January 31 pegged economic growth in the range of 6 per cent to 6.5 per cent.
The Indian economy is expericing a slowdown.
The Reserve Bank of India (RBI) has revised its real GDP growth for the year to 5 per cent, from 6.1 per cent earlier.
International Monetary Fund (IMF) slashed India's Financial Year 21 growth forecast by 120 bps to 5.8 per cent.
India's GDP — the total value of goods and services produced in the country — slumped to over 6-year low of 5 per cent in the April -June quarter and 4.5 per cent in the July - September quarter of 2019, against a 7.1 per cent growth in July-September last year.
The Central Statistics Office in its first advanced estimate released in January, pegged economic growth rate for 2019-20 at 5 per cent, slower than the 2018-19 expansion rate of 6.8 per cent.
