7% GDP growth predicted in FY20: Economic Survey Report
7% GDP growth predicted in FY20: Economic Survey Report

The Economic Survey Report, 2019 tabled in Parliament has predicted 7% growth in FY20. The theme is to enable shifting gears to accelerate and sustain a real GDP growth rate of 8% and thereby achieve India becoming a $5 trillion economy.

The key highlights are:

  • Survey pegs FY20 GDP growth at 7%, higher growth on stables macros.
  • India can become a $5 trillion economy by FY25, if the GDP grows at 8% per year.
  • Investment the "key driver" of simultaneous growth in demand, jobs, exports & productivity
  • Impetus provided on Indian MSMEs, need to free MSMEs from shackles that convert them into dwarfs; MSMEs need to be seen as a source of innovation, growth and job creation. 
  • Investment rate seen higher in FY20 on improved demand.
  • Need of skillful use of technology.
  • The report also emphasizes on RBI’s easy monetary policy, and states that, it is expected to lower lending rates, helping boost credit growth and revive investments in the coming months. 

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