7 Highlights of Economic Survey 2019

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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

  1. 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.
  2. Sustained 8 per cent growth needed to become a USD 5-trillion economy by 2024-25.
  3. Investment is the “key driver” of simultaneous growth in demand, jobs, exports & productivity. Foreign exchange reserves at USD 422.2 billion in June 2019.
  4. Crude oil prices to decline in 2019-20, to push consumption.
  5. General government fiscal deficit seen at 5.8 pc in 2018-19, against 6.4 per cent last fiscal.
  6. Projects imports to grow at 15.4 pc, exports at 12.5 pc for 2018-19.
  7. Projects 283.4 million tonne of foodgrain production in 2018-19.

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