Finance Minister Nirmala Sitharaman presented economic review in Parliament, know 10 big things

Finance Minister Nirmala Sitharaman presented the Economic Review of 2020-21 in Parliament on Friday. The Economic Review is an annual account of the country’s economic development in a year. On the basis of which it is estimated that how the economy of the country has been within the last one year.

New Delhi: Finance Minister Nirmala Sitharaman presented the Economic Review of 2020-21 in Parliament on Friday. The Economic Review is an annual account of the country’s economic development in a year. On the basis of which it is estimated that how the economy of the country has been within the last one year. Which fronts gained and where was the loss. Overall, it can be said in easy language that the economic review presents the picture of the country’s economy within the last one year.

Review Highlights

1. According to the advance estimate of NSO, India’s GDP (GDP) growth rate will fall by 7.7 percent in FY 2020-21.
2. Revival continues at a rapid pace in the country. In FY 2021-22, India’s real GDP growth rate will be 11.0 percent and 15.4 percent at market price.
3. Agriculture will play an important role in reducing the damage to Indian economy due to Kovid-19. The growth rate of this sector is estimated to be 3.4 percent in the financial year 2020-21.
4. During the financial year 2020-21, the industry and services sector are expected to fall by 9.6 percent and 8.8 percent respectively.
5. Economic activities have become more common since the introduction of the Kovid-19 vaccine.
6. The current account surplus is projected to be 2 percent of GDP in FY 2020-21. Services sector, manufacturing and construction sectors suffered the most. These areas are now moving rapidly towards normalcy. The agricultural sector has given better results.
7. Estimated to be a marginal reduction of 0.8 percent in investment. 29 percent drop in first half.
8. Foreign currency reserves in December 2020 enough for the next 18 months of imports.
9. Foreign debt to GDP ratio increased from 20.6 percent in March 2020 to 21.6 percent in September 2020.
10. The death rate of children below five years of age has been recorded.

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