Today in Rajya Shabha, Finance Minister Nirmala Sitharaman presented the economic survey before the presentation of the budget. The survey projected real Gross Domestic Product (GDP) for 2019-2020 to be 7% on macroeconomics conditions but export growth remains week. If the projection of FY19-20 comes true than it could help India regain the status of world's fastest-growing economy by beating China.
Tabling the documents of survey finance minister said, to cut real lending rates accommodative monetary policy is required. The investment rates seem to be at lowest point. The decline in non-performing assets should push up the capital expenditure. The government has been on a path of discipline and fiscal consolidation and at the same time, oil prices can be lower down in 2019-20, said economic survey of 2018-19. The general fiscal deficit was seen lower this FY19 at 5.8% than 6.4% in FY18. The slowdown during January to March was due to election related uncertainty. Chief Economic Adviser Krishnamurthy Subramanian, prepared Economic survey. It is the first economic survey by the NAMO Government.