Suggesting ways to boost the Indian economy, BJP MP Dr. Subramanian Swamy on Friday has shared steps like reduction in lending rates, raising banks' term deposit rates, making R&D and children's education tax-deductible to name a few.
He has also stated other agricultural measures like tweaking crop seasons, market access to agricultural exports to boost the Indian economy.
Suggesting steps to meet growing power demands and other financial plans, he expounded:
Meanwhile, on Thursday, former Congress president Rahul Gandhi had addressed Prime Minister Narendra Modi saying that if Union Finance Minister Nirmala Sitharaman is misinforming the Prime Minister about the state of the Indian economy being great, then it is untrue adding 'There seems to be no light at the end of the tunnel, the train of recession coming at full throttle.'
On July 4, changing the focus of the Modi government 2.0 from FDA to the private sector, the Economic Survey, prepared by CEA Krishnamurthy Subramanian had suggested that to achieve the aim of becoming a $5 trillion economy, a GDP growth rate of 8% must be maintained.
The survey in its headline projection had pegged India's GDP growth for the ongoing 2019-20 fiscal at 7.0%, alongside a number of other key macro statistics and forecasts.
As mentioned above, the Economic Survey was tabled, first in the Rajya Sabha, and projects that GDP growth for the ongoing fiscal will rise to 7.0% versus 6.8% in the fiscal that just ended, meaning that India would remain the fastest-growing major economy in the world. It also termed the macroeconomic condition as 'stable' for the same period, holding that structural reforms of the last few years are continuing to enable growth.