Slowdown has bottomed out according to Budget, expect rebound in FY21

The economic growth slowdown has appeared to have bottomed out and is expected to pick up in 2020-21, according to Budget documents.

The document further said the prospects for the Indian economy in 2020-21 need to be assessed in the light of emerging global and domestic challenges and opportunities.

Finance Minister Nirmala Sitharaman, while presenting the Budget in Parliament on Saturday, said people of India have unequivocally given jan-aadesh (mandate) for not just political stability but also reposed faith in the government's economic policies.

"During 2014-19, we clocked growth of 7.4 per cent on average with inflation, averaging around 4.5 per cent," Sitharaman