Economic Survey cover in lavender colour as ‘synthesis of old and new’

The Economic Survey for 2019-2020 tabled in the Parliament had the lavender cover symbolising the blend of the old and the new. Chief Economic Advisor Krishnamurthy V Subramanian said that the theme of the survey was ‘wealth creation’ and the lavender colour captured the new 100-rupee note together with the old note that has been around for very long.

"Wealth is both a cause and effect of investment. That is why it is important for us to focus on wealth creation," said Subramanian on the theme of the economic survey. The top economic advisor added that the lavender colour suggested measures like increasing government spending and tax cuts, indicating the government’s stance on the upcoming Union Budget.

Read: FULL Economic Survey 2019-20: Before Union Budget 2020, Here's The Document You Must Read

'Pink' and 'sky blue' in the past

The colours of the economic survey’s cover were pink and sky blue for 2017-18 and 2018-19 respectively. While pink was used as an ode to women empowerment, sky blue was meant to convey unfettered ‘blue sky’ thinking. According to the latest Economic Survey, India’s GDP is pegged to grow at 6 to 6.5 per cent for 2020-21, in sharp contrast with the projections of the International Monetary Fund (IMF), which has predicted 4.8 per cent growth. 

Economic Survey is an annual document that reviews the economic progress of the previous year, focusing on the performance of major developmental schemes and government policies. It is released a day before the Union Budget and prepared by the country's Chief Economic Advisor.

Read: Budget 2020: Economic Survey Likely To Project India's GDP Growth Far Higher Than IMF

Meanwhile, Union Finance Minister Nirmala Sitharaman is all set to present her second Union Budget on February 1 where the government’s primary motive would be to drive consumption by leaving more money in common man’s hand. During the pre-election interim budget in 2019, the then Finance Minister Piyush Goyal had announced full tax rebate for income up to Rs 5 lakh but the tax slab remained unchanged. The huge spike in the income tax slab could be rationalised by increasing the basic exemption limit and reducing the tax to 10 per cent on an annual income of Rs 5 lakh - Rs 10 lakh.

Read: Union Budget 2020: Economic Survey Reveals Importance Of Entrepreneurs In Wealth Creation

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