Economic survey projects GDP growth in FY21 at 6-6.5%

The Economic Survey on Friday projected India's growth at 6-6.5% in the next financial year starting April 1, saying growth has bottomed out. The survey added that FY21 is expected to pose challenges on the fiscal front. The Economic Survey puts current fiscal growth at 5%, says he govt may need to relax the fiscal deficit target for current year to revive growth. The pre-Budget Survey said for wealth to be distributed, it first has to be created and called for looking at wealth creators with respect. For boosting growth, it called for new ideas for manufacturing such as 'assemble in India for the world' which will create jobs. To make it easier to do business in India, the Survey called for removing red tape at ports to promote exports, as well as measures for easing the start of business, register property, pay taxes and enforcing contracts. It also called for improving governance in public sector banks and the need for more disclosure of information to build trust.