Crystal gazing the budget announcements from Economic Survey

The Economic Survey projects a growth rate in the range of 6 to 6.5% for FY 20-21. This is quite an optimistic estimate and will be challenging to achieve given there are no definitive signals of a turnaround yet. The demand continues to be sluggish and the corporate quarterly results still do not give us the confidence of a demand revival. We are likely to achieve a sub 5% growth in the current fiscal year while the survey pegs it at 5%, in line with the advance estimates of the Central Statistics Office(CSO).

The Corona virus being declared a global health