Economic Survey 2019 |
Union Finance Ministry has released its annual Economic Survey report on Thursday. The government expects economic growth to rebound this year from a five-year low, as political stability aids a pickup in demand and investments. Real gross domestic product growth for the fiscal year started April 1 is projected at 7%. The survey states, “The political stability in the country should push the animal spirits of the economy, while the higher capacity utilization and uptick in business expectations should increase investment activity." The forecast marks an improvement from the 6.8% expansion last year, and is the same as the Reserve Bank of India`s reading, which in June lowered its projection by 20 basis points from 7.2%.
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