Economic Survey 2018-19: Oil prices expected to decline in 2019-20

Economic Survey pegs fiscal deficit for 2018-19 at 5.8%, up from revised budget estimate of 3.4% | Updates

Ahead of Modi government's maiden Budget in the second term, the economic survey projected the state of health of the country's economy and outlined the challenges.

Economic Survey 18-19: Oil prices expected to decline in

Economic Survey 18-19: Oil prices expected to decline in 2019-20

Chief Economic Advisor KV Subramanian on Thursday tabled the new government’s first Economic Survey in Parliament.

The survey pegged fiscal deficit for 2018-19 at 5.8 per cent, up from revised budget estimate of 3.4 per cent.

The annual Economic Survey is usually presented a day before the presentation of the annual budget. Ahead of Modi government's maiden Budget in the second term, the economic survey projected the state of health of the country's economy and outlined the challenges. 

Here are the key observations from the detailed economic survey:

  • Oil prices expected to decline in 2019-20
  • The economic survey has predicted 7% Gross Domestic Product (GDP) growth in FY20 on stable macro economic conditions
  • General fiscal deficit seen at 5.8% in FY19 against 6.4% in FY18
  • To become a $5 trillion economy by 2025, India need to sustain a GDP growth rate of 8%

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