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  Business   Economy  04 Jul 2019  Economic Survey 2018-19 highlights

Economic Survey 2018-19 highlights

PTI
Published : Jul 4, 2019, 1:30 pm IST
Updated : Jul 4, 2019, 2:27 pm IST

India continues to remain the fastest-growing major economy in the world in 2018-19.

General government fiscal deficit seen at 5.8 pc in 2018-19, against 6.4 per cent last fiscal.
 General government fiscal deficit seen at 5.8 pc in 2018-19, against 6.4 per cent last fiscal.

New Delhi: 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. 

Also read: Economic Survey: GDP growth projected at 7 per cent for 2019-20

Following are the highlights of the Economic Survey 2018-19 tabled in Parliament Thursday.

* 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.

* Huge political mandate augurs well for growth prospects.

* Investment is the "key driver" of simultaneous growth in demand, jobs, exports & productivity.

* Green shoots in investment, visible pick-up in credit growth seen.

* 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.

* Foreign exchange reserves at USD 422.2 billion in June 2019.

Tags: economic survey 2019, banking sector, economy, gdp growth, nirmala sitharaman, fiscal deficit
Location: India, Delhi, New Delhi