NEW DELHI: The Economic Survey on Friday projected revival of economic growth to 6-6.5 per cent next fiscal and suggested that the Government should relax the budget deficit target to boost growth from a decade low of 5 per cent this year.
The Survey, released a day before Finance Minister Nirmala Sitharaman presents the Union Budget for 2020-21, suggested a cut in food subsidy to create fiscal space at a time when tax revenues were falling.
Facing the worst economic slowdown since the global financial crisis of 2008-09 that worsened job prospects, the Survey said businessmen should be respected as they create wealth and jobs.
For India to become a USD 5 trillion economy by 2025, it prescribed strengthening trust in the economy, enabling and empowering markets, promotion of pro-business policies, and measures to enhance farmers’ income. (AGENCIES)
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