New Delhi: Finance Minister Nirmala Sitharaman has tabled the Economic Survey of India 2021 in the parliament, ahead of the Union Budget on Monday.
The minister tabled the Survey after President Ram Nath Kovind's customary address at the start of the Budget Session 2021.
The annual document acts as a platform to pitch larger economic ideas and concepts which the government may or may not act upon.
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
The economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year. The gross domestic product (GDP) contracted by a record 23.9 per cent in April-June and by 7.5 per cent in the second quarter.
For the full fiscal, the survey projected a contraction of 7.7 per cent and V-shaped recovery in the next.
GDP growth is seen expanding by 11 per cent in 2021-22 fiscal (April 2021 to March 2022).