New Delhi: The Economic Survey of the second Narendra Modi-led NDA government was on Thursday tabled in Parliament. Prepared by the Chief Economic Adviser KV Subramanian, the Economic Survey 2019 was tabled a day before the presentation of Union Budget. Also Read - After Economic Survey Cites Wikipedia As Source of Data, Netizens Ask 'Is WhatsApp Next'?
The Economic Survey Document is a document on the outlook of developments in the economy of India. For full-fledged coverage, follow us: https://www.india.com/budget-2019/ Also Read - Markets Recoil as Economic Survey Stokes Fiscal Slippage Fears; All Eyes on Union Budget 2020
Here are the top takeaways from the Economic Survey Document 2019: Also Read - Union Budget 2020: Government Tables Economic Survey, Pegs Growth Rate at 6-6.5% For FY 2020-21
The economic survey has said that the decline in the non-performing assets (NPAs) should help push the capital expenditure cycle.
1) The general fiscal deficit is seen at 5.8 per cent in FY19 as against 6.4 per cent in FY18.
2) The January-March slowdown was partly due to election-related uncertainty.
3) Accommodative monetary policy was to help cut real lending rates.
4) Investment rate seems to have bottomed out.
5) The economic survey has predicted 7 per cent Gross Domestic Product (GDP) growth in FY20 on stable macroeconomic conditions.
6) The investment rate is seen higher in FY20 on higher credit growth.
7) A decline in Non-performing assets (NPA) should push up Capital expenditure (CAPEX) cycle.
8) The oil prices are expected to decline in 2019-20.
9) Farmers may have produced less in FY19 on food price fall.
10) The general fiscal deficit is seen at 5.8 per cent in FY19.
11) The government stood by the fiscal consolidation path.
12) Non-bank financial institution (NBFC) stress reason for FY19 slowdown.
13) Greenshoots in investment seems to be taking hold.
14) India needs to sustain a GDP growth rate of 8 per cent in order to become a $5 trillion economy by 2025.
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