New Delhi (NVI): With the Government’s focus on reviving growth across the Micro, Small & Medium Enterprises (MSME) sector, the Economic Survey tabled in the Parliament on the first day of Budget Session today highlighted the key initiatives taken in this direction.
The Economic Survey 2020, tabled in Parliament on the eve of the Budget presentation, has also favoured relaxing of the fiscal deficit target for the current financial year to revive growth, which has been on the decline in the last several quarters.
The survey, which put the current fiscal growth at 5 per cent, pitched for more reforms for making it easier to do business in India. The report was tabled by Union Finance Minister Nirmala Sitharaman on the first day of the Budget session of the Parliament today.
It called for measures to make it easier to start a new business, registration of property, payment of taxes and enforcing contracts. It also favoured improving governance in public sector banks and more disclosures to build trust.
The survey also showed that the Indian economy might see growth at 6 to 6.5 per cent in the next financial year starting from April 1 (FY 2020-21).
