india

Updated: Jul 04, 2019 15:47 IST

Prime Minister Narendra Modi praised the Economic Survey 2018-19 that was presented in Parliament on Thursday and said it outlines a vision to make India a $5 trillion economy.

“The #EconomicSurvey2019 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,” PM Modi tweeted.

The government projected the country’s GDP growth for 2019-20 at 7 per cent, up from five-year low of 6.8 per cent, on the back of anticipated pickup in investment and consumption. A Finance Ministry statement said the theme of the survey is about enabling a shifting of gears towards sustained economic growth for objective of $5 trillion by 2024-25.

The government projected the country’s GDP growth for 2019-20 at 7 per cent, up from five-year low of 6.8 per cent, on the back of anticipated pickup in investment and consumption.

The economic survey was tabled in Parliament by finance minister Nirmala Sitharaman a day before the Union Budget. The survey said India continues to remain the fastest-growing major economy in the world.

“India’s growth of real GDP has been high with average growth of 7.5 per cent in last five years (2014-15 onwards). The economy grew at 6.8 per cent in 2018-19, thereby experiencing some moderation in growth when compared to the previous year,” it said.