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Economic Survey 2019: Main highlights

By Anuj Cariappa
|

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.

Economic Survey 2019: Main highlights

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.

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