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Before the budget, the Modi Government appreciated itself!

Thursday - July 4, 2019 4:29 pm , Category : WTN SPECIAL
The Economic Survey report set to be a mirror of the economics of the country
The Economic Survey report set to be a mirror of the economics of the country

Modi Government's claim; the GDP growth rate to be 7 per cent

JULY 04 (WTN) - All want to know that what will be new in the first full budget of the Modi Government in second term. On July 4, one day before the budget, the Economic Survey of country's economy and direction was presented in Parliament. Through this economic survey, the Modi Government has tried to appreciate its own. According to the Economic Survey, the country's GDP growth rate for the year 2019-20 can be 7 per cent.

For your information, let you know that the Economic Survey of the world's sixth largest economy has been prepared by the Chief Financial Advisor Krishnamurthy Subramanium and his team. The Modi Government is trying to make India the fifth largest economy in the world, but it will tell the time that how the efforts of the Government get success. But let's look at what the Economic Survey Reports says.

The Economic Survey presented in Parliament said that there are adequate foreign exchange reserves in the country, and there will be no shortage in the coming time. According to the survey, till June 14 there were a total foreign exchange reserve of $ 42,220 crores in the country. But there is a question from the Government that if Iran-America war was started in the Gulf, would this foreign reservoir used in oil procurement, which would not bring the burden of the oil prices on the people of the country.

According to the Economic Survey based on policies of the Modi Government, the confidence of foreign investors has increased in domestic market of India. According to the Economic Survey, Net FDI has grown at 14.1 per cent in the financial year 2018-19. It is true that foreign investment has increased during the Modi Government's tenure, but in the proportion in which investment has increased, jobs have not increased. People had hoped that by increasing foreign investment in the country jobs would increase, but this does not seem to be happening.

Condition of the NPA has also been explained in Economic Survey. According to the survey, the problem of NPA is higher in government banks compared to private banks. The effect of NPAs has affected the balance sheet. In the economic survey, it has been acknowledged that credit growth in banks is being seen rapidly. For your information, let you know that the problem of NPAs of government and public banks is a major problem for the government.

Due to willful defaulters and other types of defaulters, banks are facing problems like this. However, the Modi Government has made amendments in the rules regarding the repayment of banks; but again, the problem of NPAs is a major challenge before the Modi Government. Economic survey shows that due to the financial condition of non-banking financial companies, there has been a decrease in sales of auto sales, which is a cause of concern for the Modi Government.

In the economic survey, it has claimed that IIP growth has improved due to the increase in construction. At the same time, the speed of lending to the MSME sector has also increased. The situation in the construction sector in the country has been quite good earlier, which has led to increased consumption of cement and steel. For your information, let you know that there was a lot of decline in the construction sector in the country after the demonetization, now that there is an increase in this area, and then it’s good news of relief for the Modi Government.

For your information, let us know that the Economic Survey is considered as a main document of the Ministry of Finance. Referring to all aspects of the economy of the country, related data is presented in it, and according to the Economic Survey, the government makes budget. In the survey, all the sectors related to the economy are mentioned in it. In the economic survey, the policy considerations of the government are seen, in which it is said about the conditions of every sector of the economy and also about the measures to improve them. It can be said that the Economic Survey provides a glimpse of the budget. Whether it is to be seen now that the 7 per cent growth rate in the financial year 2019-20, the extent of the Modi Government's claim on the criterion suffers?