Economic Survey 2019-20: A Focus on Achieving a $5 Trillion Economy

Abstract

The Economic Survey 2019-20 depicts that Indian economy is still under pressure of a prolonged slowdown with GDP growth rate deteriorating continuously for the last six quarters. The survey highlights sethical wealth creation, improvement in ease of doing business, minimum government intervention, entrepreneurship at grassroots, pro-business policies for equal opportunity, ban on trust undermining pro-crony policies and job creation via make in India. It expects the real GDP growth in the range of 6.0% to 6.5% in 2020-21.The survey has given a holistic view of the economy and the possible ways to resolve the problems. It places primary blame for the slowdown in global factors. It admits that meeting the $5 trillion target by the Prime Minister will be challenging, given the growth slowdown. For achieving the target, there is a need to give thrust to manufacturing and exports. In this period of global volatility, the government should continue its already implemented structural reforms and follow India’s path to $5 trillion economy.