Highlights from India’s annual economic survey ahead of budget 2021
Jan 29, 2021
Survey finding 1: India’s GDP may shrink 7.7 percent in FY21
Govt spending can drive GDP growth to 11 percent in financial year 2022
Survey finding 2: Need to increase allocation for public health from 2.5 percent to 3 percent of GDP
Survey finding 2: Increase allocation for public health from 2.5 percent to 3 percent of GDP
This can reduce out of pocket expense by patients by more than half to 30 percent
Survey finding 3: Chief Economic Advisor slams global ratings agencies
“India is the 5th largest economy rated at lowest rung of investment-grade”
Survey finding 3: Chief Economic Advisor slams ratings agencies
“India’s policy must not remain beholden to a noisy, biased measures,” survey says
Survey finding 4: India has enough forex reserves to survive significantly shock
“It can cover an additional 2.8 standard deviation negative event.”
Survey finding 5: Redistribution is possible..
..only if the economy grows, says Chief Economic Advisor
Survey finding 6: V-shaped economic recovery likely
It will take at least 2 years to get back to pre-pandemic GDP levels.
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