(Image source from: Twitter.com/ANI)
7% GDP Growth in 2019-20 Says Economic Survey:- The Economic Survey that is tabled in Parliament revealed that the projected GDP (Gross Domestic Product) growth at 7%. Union Finance Minister Nirmala Sitharaman revealed this during the Parliament sessions. This is for the 2019-20 fiscal year from an estimated 6.8% in the previous year. Nirmala Sitharaman said that investment rate has been picking up on higher credit growth and the demand got improved. With higher private investments, GDP growth is taking a high toll.
It has been revealed that the lower global oil prices are expected to come down in FY20. The lower growth along with the increased uncertainty may hit the exports. Indian Prime Minister Narendra Modi tweeted saying "The Economic Survey 2019 outlines a vision to achieve a $5 trillion economy. It also depicts the gains from advancement in the social sector, adoption of technology and energy security".
The #EconomicSurvey2019 outlines a vision to achieve a $5 Trillion economy.— Narendra Modi (@narendramodi) July 4, 2019
It also depicts the gains from advancement in the social sector, adoption of technology and energy security.