7 Highlights of Economic Survey 2019
Here are seven key highlights of Economic Survey 2019 these highlights can explain where are we heading towards in terms of economic growth is concerned.
According to the Economic Survey 2018-19, tabled by Finance Minister Nirmala Sitharaman in Parliament, India continues to remain the fastest-growing major economy in the world in 2018-19, despite a slight moderation in its gross domestic product (GDP) growth from 7.2 per cent in 2017-18 to 6.8 per cent in 2018-19.
Seven highlights of Economic Survey 2018-19
GDP growth pegged at 7 pc in 2019-20, up from 6.8 pc last fiscal. Growth in current fiscal to be driven by investment, consumption.
Sustained 8 per cent growth needed to become a USD 5-trillion economy by 2024-25.
Investment is the “key driver” of simultaneous growth in demand, jobs, exports & productivity. Foreign exchange reserves at USD 422.2 billion in June 2019.
Crude oil prices to decline in 2019-20, to push consumption.
General government fiscal deficit seen at 5.8 pc in 2018-19, against 6.4 per cent last fiscal.
Projects imports to grow at 15.4 pc, exports at 12.5 pc for 2018-19.
Projects 283.4 million tonne of foodgrain production in 2018-19.