Economic Survey: 7% GDP Growth, Oil Prices Drop!

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Finance Minister Nirmala Sitaraman tabled the Economic Survey in Parliament on Thursday. GDP Growth of 7 percent is projected in the financial year 2019-20 as against 6.8 percent in the previous year.

Global Oil Prices are expected to decline in the financial year 2019-20.

Exports will be affected due to lower Global Growth and uncertainty over trade tension.

General Fiscal deficit is estimated to be 5.8% for the financial year 2018-19 as against 6.4% in the fiscal 2017-18.

Production of Food Grains is expected to be 283.4 million tonnes in 2019-20.

Imports to record a growth of 15.4 percent & Exports could grow at 12.5% in 2019-20.

India will have to maintain a GDP Growth Rate of 8 percent to become a $5 trillion economy by 2025.