Economy

Economic Survey projects 7% GDP growth

Nirmala-Sitharaman-Union-Finance-Minister

The Economic Survey 2018-19 was tabled the  in both Houses of Parliament today by Finance and Corporate Affairs Minister Nirmala Sitharaman.

The survey estimates 7 % growth in GDP  during the financial year 2019-20. The Indian economy is expected to grow at 6.8 per in 2018-19 while maintaining macro-economic stability.

The fiscal deficit for 2018-19 has been pegged at 3.4 per cent of GDP . The economic survey has provisionally estimated a 2.9 per cent growth rate for the agriculture, forestry and fishing sector. Foodgrain production  is projected at 283.4 million tonne. Exports are projected to grow at 12.5 per cent while imports are estimated to grow at 15.4 per cent   for the year 2018-19.

The survey also formulates a plan for fructifying Prime Minister Narendra Modi’s vision of making India a 5 trillion dollar economy by 2025. In order to ahieve this goal, India needs to sustain a real GDP growth rate of 8 per cent. The theme of the survey is to facilitate higher and sustained growth rate for the country.
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