Nominal GDP growth for 2020-21 estimated at 10 per cent, says FM Sitharaman
India-GDP
Finance Minister Nirmala Sitharaman on Saturdaypegged 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 expericinga 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.
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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.