Friday, 31 Jan 2020 03:00 pm

India's Economic Growth To Accelerate by 6-6.5% in by the end of Fiscal year 2020-21

India’s government forecast a pick up in economic growth to 6.0-6.5% in the next fiscal beginning April 1, in its annual economic statement presented to parliament on Friday, but warned of a widening fiscal deficit.

By Neha Pandey

India is facing its worst economic slowdown in a decade. Growth slipped to 4.5% in the July-September quarter, worsening the job prospects for millions of youth entering the workforce each year.

The government has estimated gross domestic product expansion at 5% for the financial year ending on March 31, which would be the slowest pace since the global financial crisis of 2008-09.

This year’s fiscal deficit target of 3.3% of GDP may have to be relaxed, the government said in the economic survey, released a day before Finance Minister Nirmala Sitharaman presents the budget for the fiscal year that ends in March 2021.

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Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.