Economic Survey 2021 Important Highlights: FM Sitharaman tables survey; GDP growth predicted at 11 pct in next fiscal on strong economic recovery

Economic Survey 2021 Live Updates: Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government's Budget for fiscal year beginning April 1, 2021. 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. GDP growth is seen expanding by 11 per cent in the 2021-22 fiscal (April 2021 to March 2022).

Check Economic Survey LIVE updates below:

1:45 PM

COVID-hit GDP contracts to record low

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.

1:30 PM

Strong recovery in national economy predicted

The national economy, which was battered by the coronavirus lockdown, is expected to see a strong recovery in the 2021-22 fiscal year, says Economic Survey 2021.

1:00 PM

President bats for focus on small, marginal farmers

"In the agricultural sector, the need of the hour is to focus our attention on the small and marginal farmers who own only 1 or 2 hectares of land. More than 80 per cent of the farmers in the country numbering over 10 crore fall under this category," said President Kovind.

12:10 PM

President criticises farmers protest, advises to respect constitution

Constitution gives us right to freedom of expression and it teaches us that law and rule should be followed: President Kovind.

12:00 PM

President speaks on farmers protest

"Over 10 crore small farmers started getting benefits of 3 farm laws; many political parties supported these reforms," said President Kovind.

11:45 AM

President Kovind talks about imporatnce of Aadhaar, mobile, Jan Dhan acount

Triple booster of Aadhaar, mobile and Jan Dhan account have helped Indian government to save Rs 1.8 lakh crore from going into the wrong hands. It also helped the government empower the poor and provide them their basic rights, said President Kovind

11:25 AM

President praises Kisan Rail

Kisan Rail is helping Indian farmers to find new markets.  Till date, 100 Kisan Rails are in operation and they have ported around 38,000 tons of agri products.

11:15 AM

PM Modi reminds about challenges ahead

The coming decade is vital for India’s progress. We have to remember the vision & dreams of the greats who fought for our nation’s freedom. Let there be detailed debate and discussions on the Floor of Parliament: PM

11:00 AM

President Ramn Nath Kovind begins joint parliament address

President Ram Nath Kovid begins his customary joint parliamentary address before the beginning of the Budget Session 2021. he is expected to give the road map for recovery psot-COVID-19 pandemic.