New Delhi: The Economic Survey on Friday projected revival of economic growth to 6- 6.5 per cent in the next fiscal beginning April 1 but suggested the government to relax the budget deficit target to boost growth from a decade low.
The survey, released a day before Finance Minister Nirmala Sitharaman presents the Union Budget for 2020- 21, called for cutting food subsidy while at the same time looking at businessmen with respect as they create wealth and jobs.
Facing the worst economic slowdown since the global financial crisis of 2008- 09, the survey called for boosting manufacturing with u2018 assemble in India for the worldu2019 concept so as to boost job creation.
For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects.
It also called for improving governance in public sector banks. Agencies Wipro CEO Abidali to step down IT services major Wipro on Friday said its CEO Abidali Z Neemuchwala has u201c decided to step down due to family commitmentsu201d, and the firmu2019s board has started scouting for his successor. u201c Abid, 52, will continue to hold the office of CEO and MD until a successor is appointedu201d. u2018 Growth likely to pick up next fiscalu2019 6.5 % The growth rate projected for fiscal 2020- 21
