Friday, February 14, 2020

Does the Budget 2020 Provide Solution to the Woe of Agriculture?

The way GDP growth rates in last few quarters have shown downward trend has surprised everyone. International Monetary Fund (IMF) had predicted a growth rate of 7.3% in April 2019 for Indian economy. But by the end June 2019, independent institutions across world started doubting about those growth numbers. Now Indian economy is expected to grow at 5% in the current fiscal year. Even government’s advance estimates are around 5%. However government along with IMF and many independent institutions has called this trend to be a short term temporary phase (ET, 2020). These institutions are optimistic that Indian economy would be able to resume high growth numbers in next few quarters. But a lot is dependent on the efforts and stimulus provided in the central budget for fiscal year 2020-21.