Economic Survey 2019 pegs FY20 growth at 7%, retains FY19 fiscal deficit at 3.4%


New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman tabled the Economic Survey 2018-19 in the Parliament on Thursday, which projected that India would grow at 7 percent in 2019-20 as compared to 6.8 percent in 2018-19 and maintain its fastest growing large economy tag in the world.

The Economic Survey 2018-19 clearly stated that the year 2019-20 has delivered a huge political mandate for the government, which augurs well for the prospects of high economic growth.

“India continues to remain the fastest growing major economy in the world in 2018-19, despite a slight moderation in its GDP growth from 7.2 per cent in 2017-18 to 6.8 per cent in 2018-19. On the other hand, the world output growth declined from 3.8 per cent in 2017 to 3.6 per cent in 2018,” the Survey said.

The Survey has retained India`s FY 19 fiscal deficit estimate at 3.4 percent of the GDP.