Economic Survey 2019: Main highlights

New Delhi, July 04: The Economic Survey was tabled today in Parliament. One of the main takeaways was a blueprint for a 5 trillion USD India.

Finance Minister Nirmala Sitharaman tabled the survey in Parliament. Here is a look at the highlights or main takeaways from the Economic Survey.

Economic Survey Highlights:

• Blueprint for a $5-trillion India
• Get all the details here
• Oil prices seen declining.
• FM tables Economic Survey in Parliament. Sees FY20 GDP growth at 7%, higher growth on stables macros
• Huge political mandate augurs well for growth prospects
• Political stability should push animal spirits of economy
• Invest rate seen higher in the financial year on higher credit growth
• Investment rate seems to have bottomed out
• Investment rate seen higher in financial year on improved demand
• Green shoots in invest activity seem to be taking hold
• Rural wage growth started increasing since mid-2018
• India GDP growth has averaged a high 7.5% in last 5 yr
• January-March slowdown partly due to poll-related uncertainty
• Farmers may have produced less in financial year 2019 on food price fall

HIGH POINTS OF ECONOMIC SURVEY:

• Centre predicts seven percent GDP growth in FY20 on stable macro conditions
• Fiscal deficit at 5.8 percent in FY19 versus 6.4 percent in FY18
• Investment rate seems to have bottomed out
• January-March slowdown partly on poll-related uncertainty and NBFC crisis
• Slow Growth, GST, farm schemes -- on the fiscal front in FY20
• Requests Centre not to compromise on fiscal gap aim to fund new schemes
• GST buoyancy in FY20 key to improved fiscal situation
• Revenue mop-up may be hit if growth slows in FY20
• Increased uncertainty over trade tensions and lower global growth may hit exports
• Expects government policy to further lift restrictions on FPI inflows
• Liquidity has remained systematically tight since September last year, impacting yields
• Aggressive export strategy must be part of investment-driven model
• Survey makes the case for investment as a key driver; says focus on SMEs key; Weighs upon top policymakers to ensure actions are predictable.