Economic Survey for 2018-19 Predicted a 7% GDP Growth for Financial Year 2019-20

Union Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2018-19 in the Parliament on 5 July. The survey predicted a 7% GDP growth for the financial year 2019-20 as compared to 6.8% in 2018-19. The Economic Survey was prepared by Chief Economic Advisor KV Subramanian.

In the Second term of the NDA govt. PM Modi laid a goal to bring Indian economy to a $5 trillion economy by 2024-25. According to the Economic Survey, India needs to sustain a real GDP growth rate of 8%.

The report also said that India continued to remain the fastest-growing major economy in the world in 2018-19, despite a slight moderation in gross domestic product (GDP) growth from 7.2% in 2017-18 to 6.8% in 2018-19.

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