/Economic Survey: Economy of five trillion dollars, 8 percent growth rate needed

Economic Survey: Economy of five trillion dollars, 8 percent growth rate needed

There is only one day left to present the budget and today it has been introduced in the Parliament on Thursday. Finance Minister Nirmala Sitharaman presented the economic survey in the Upper House Rajya Sabha. This survey has been prepared by Krishnamurthy Subramanian, Chief Economic Advisor of the country. In this economic survey, suggestions have been given to get eight percent of the economy’s growth rate, which could cross $ 5 trillion in 2025.


The growth rate was 6.8 percent in 2018-19. This is the lowest in five years. According to the economic survey, the average growth rate in the last 5 years is 7.5 percent. In the last financial year (2018-19), the fiscal deficit retained its estimate of 3.4 percent of GDP.


Estimation of oil price reduction
It has been reported in the survey that due to sluggishness in the economy during January-March, oil prices have been volatile. Also, the situation of NBFC is also responsible for the slowdown of finance 2019. Subramanian hoped that in the financial year 2020 oil prices will come down.

Enough foreign exchange reserves
Economic Survey states that there is adequate foreign exchange reserves in the country. Government believes that there will be no shortage of foreign exchange reserves further. According to the figures till June 14, there is a total foreign exchange reserves of $ 42220 million in the country.

Enough foreign exchange reserves
Economic Survey states that there is adequate foreign exchange reserves in the country. Government believes that there will be no shortage of foreign exchange reserves further. According to the figures till June 14, there is a total foreign exchange reserves of $ 42220 million in the country.


Estimation of increase in income of farmers
According to the Economic Survey, the government stands on the path of economic consolidation in fiscal year 2019. He said that the fall in NPAs will help the CAPEX cycle. According to Subramanian, the Monitoring Policy Committee should help in reducing the interest rate.

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