Chennai: The BJP is presenting another Union budget and the expectations out of it are high, in people of every walk of life. As Nirmala Sitharaman brings out another Economic Survey, the economists of the nation are busy mulling what the survey of last year had done for the economy, by way of predictions.

After very costly process of survey and statistic collection, the survey last year started out on a bad note after the predicted growth was cut from 7% to 5% within one quarter. It now has become common knowledge that the growth last year was no more than 4.5%, which is an all-time low for a country like India, which has been steadily growing GDP-wise through targetted financial and planning practices.

It also transpired that the corporate tax cut and the infusion of money through PSBs that the government had done in August came a little too late as the private funding had dropped by then. The value of many new projects had gone down before this attempt to revive investments and there has been a rise in the number of stalled projects even with the new measures in place.

The revenue from experts has been dropping since June and while this has also depended on global trends, economic experts say that a better policy with tax neutrality, limited favouritism and a more diverse export base would have helped better.

The economic survey of 2018-19 had pointed out to the fact that state incentives were keeping Micro, Small and Medium Enterprises (MSMEs) in a 'dwarf' state rather than letting them grow. The only move that the finance minister had taken to help the MSMEs - vital to the local economies - is asking large corporations to expedite clearing dues worth ₹40,000 crore to the MSMEs. 

While the Economic Survey had pointed to the need of a fixed minimum wage, the value of agricultural labour had been falling throughout 2019. This is expected to drastically affect a huge population who lives just above the line of poverty.