GDP numbers for the last fiscal saw a sharp correction in their first revised estimates. Budget 2020 has little choice but to focus on the only section largely neglected in both the previous Budgets - the Indian middle class. Addressing the media after presenting the Economic Survey 2020, the CEA expressed his confidence in achieving 6-6.5 per cent growth in fiscal 2021. Read for more top stories from the world of business and economy:
GDP figures for financial year 2017-18 were also revised downwards to 7 per cent, from 7.17 per cent reported earlier.
Relief is long overdue. In fact, it's inevitable. Middle class has borne the brunt of the plateauing of incomes in the past 4-5 years even as inflation has continued unabated.
India can create 4 crore well-paid jobs by 2025 and 8 crore by 2030 by integrating "Assemble in India for the world" into Make in India.
Subramanian said the country might have hit the trough in growth and expressed his confidence in achieving 6-6.5 per cent growth in fiscal year 2020-21.
Oyo claims that although it has slashed a significant workforce, there has been a lot of support that the start-up has given to the employees who have been asked to leave.