Modi government 2.0's first Economic Survey: Key points in pictures
Snapshot of Indian Economy from Economic Survey 2019
Finance Minister Nirmala Sitharaman on Thursday tabled the Economic Survey 2018-19 in Parliament on Thursday, which projected that India would grow at 7 per cent in 2019-20 as compared to 6.8 per cent in 2018-19. The Survey also says that India maintains its fastest-growing large economy tag in the world. “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 percent in 2017-18 to 6.8 percent in 2018-19. On the other hand, the world output growth declined from 3.8 percent in 2017 to 3.6 percent in 2018,” the Survey said.
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Inflation scenario for 2018-19 as per Economic Survey
Economic Survey projects GDP to grow at 7% in 2019-20
The Economic Survey reads: “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 percent in 2017-18 to 6.8 percent in 2018-19. On the other hand, the world output growth declined from 3.8 percent in 2017 to 3.6 percent in 2018.”
Economic Survey puts forex reserves at 412.9 billion USD
The Economic Survey notes that India’s foreign exchange reserves continue to be comfortably placed in excess of USD 400 billion. The Rupee traded in the range of 65-68 per USD in 2017-18 but depreciated to 70-74 in 2018-19. The exchange rate in 2018-19 has been more volatile than in the previous year, mainly due to volatility in crude prices, but not much due to net portfolio flows.