(Chief economic adviser Krishnamurthy Subramanian)

#EcoSurvey2019 is inspired by Gandhiji's Talisman: “…Recall the face of the poorest man [woman], and ask yourself,… https://t.co/Yroo2kaNt9 — K V Subramanian (@SubramanianKri) 1562223393000

One of the biggest hurdles to #Economy5trillion is poor enforcement of contracts and dispute resolution. Steps to s… https://t.co/KQNvwD8spi — K V Subramanian (@SubramanianKri) 1562222102000

(The Economic Survey 2019 cover)

NEW DELHI: The Economic Survey , tabled in Parliament by finance minister Nirmala Sitharaman on Thursday, projected GDP (gross domestic product) growth at 7 per cent in the 2019-20 fiscal year from an estimated 6.8 per cent in the previous year. Investment rate has been seen picking up in FY20 on higher credit growth and improved demand, it stated.The GDP growth has been seen picking up on higher private investment and robust consumption, the survey noted.It also highlighted that lower global oil prices are expected to decline in FY20. Lower global growth and increased uncertainty over trade tension may hit exports, it added.Sharing his view on the survey, Prime Minister Narendra Modi tweeted: "The Economic Survey 2019 outlines a vision to achieve a $5 trillion economy. It also depicts the gains from advancement in the social sector, adoption of technology and energy security."Chief economic adviser Krishnamurthy Subramanian said: "Our team has put in a lot of effort with a lot of dedication. I hope results are good, and we are able to contribute to the ideas for the economy.""An effective minimum wage policy that targets the vulnerable bottom rung of wage earners can help in driving up aggregate demand and building and strengthening the middle class," he added.In a series of tweets, CEA Subramanian stated that the survey "is inspired by (Mahatma) Gandhiji's Talisman: '…Recall the face of the poorest man [woman], and ask yourself, if the step you contemplate is going to be of any use to him [her].'He also mentioned that "one of the biggest hurdles to $5 trillion economy is poor enforcement of contracts and dispute resolution. Steps to speed up legal process should be top priority."He added that the survey "is imbued by the spirit 'blue sky thinking' in thinking about the appropriate economic model for India. This is reflected in the sky blue cover of the survey."The survey contains several chapters on macro economy as well as different industry sectors along with future outlook. It comes a day before the finance minister will present her maiden Budget and also the first of the Modi 2.0 government.