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Question Numbers: 90-92
Direction: Read the passage given below and answer the following questions.
India’s economy could contract 7.7 percent in the financial year that ends on March 31, ________ mainly by the coronavirus pandemic and the weeks-long nationwide lockdown to contain the disease, Chief Economic Advisor Krishnamurthy Subramanian has estimated in the Economic Survey 2020-21, tabled in Parliament on Friday. Real GDP growth could be 11 percent in the next financial year, the survey said.
"Agriculture has remained the silver lining, while contact-based services, manufacturing, and construction sectors were the worst hit by the COVID-19 pandemic,” said the survey. It predicted a V-shaped economic recovery spurred by India's Covid-19 vaccination programme.
The survey sees headline inflation moderating going forward: a development that could open up room for the Reserve Bank of India to resume monetary policy easing to complement fiscal measures to support the economy, said a Bloomberg report.
The Economic Survey, presented in Parliament by the finance minister two days before the Union Budget, analyses the trends in agricultural and industrial production, employment, money supply, and other sectors.
The Union Budget, to be presented by Finance Minister Nirmala Sitharaman on Monday, is expected to increase spending on healthcare, raise levies on a range of imported goods, and likely introduce a Covid-19 cess. "Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. Hundred years of India wouldn't have seen a Budget being made post-pandemic like this," Finance Minister Nirmala Sitharaman told a business summit in December.
Direction: Read the passage given below and answer the following questions.
India’s economy could contract 7.7 percent in the financial year that ends on March 31, ________ mainly by the coronavirus pandemic and the weeks-long nationwide lockdown to contain the disease, Chief Economic Advisor Krishnamurthy Subramanian has estimated in the Economic Survey 2020-21, tabled in Parliament on Friday. Real GDP growth could be 11 percent in the next financial year, the survey said.
"Agriculture has remained the silver lining, while contact-based services, manufacturing, and construction sectors were the worst hit by the COVID-19 pandemic,” said the survey. It predicted a V-shaped economic recovery spurred by India's Covid-19 vaccination programme.
The survey sees headline inflation moderating going forward: a development that could open up room for the Reserve Bank of India to resume monetary policy easing to complement fiscal measures to support the economy, said a Bloomberg report.
The Economic Survey, presented in Parliament by the finance minister two days before the Union Budget, analyses the trends in agricultural and industrial production, employment, money supply, and other sectors.
The Union Budget, to be presented by Finance Minister Nirmala Sitharaman on Monday, is expected to increase spending on healthcare, raise levies on a range of imported goods, and likely introduce a Covid-19 cess. "Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. Hundred years of India wouldn't have seen a Budget being made post-pandemic like this," Finance Minister Nirmala Sitharaman told a business summit in December.
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