Mumbai: India continued as the fastest growing economy at 6.8% in 2018-19 and is expected to grow at 7% in 2019-20, the Economic Survey 2018-19 tabled in parliament on July 4, 2019, said. The average growth in the last five years (since 2014-15) has been 7.5% in terms of real gross domestic product (GDP).

The economic survey outlined India’s vision of becoming a $5 trillion economy by 2024-25. To meet this objective, India will need to sustain a real GDP growth rate of 8%, which can be achieved by creating a “virtuous cycle” driven by savings, investment and exports, supported by favourable demographics, the survey said. It emphasises on private investment as the key driver.

The survey also talks about using: data as a public good, behavioural economics to foster economic growth, affordable and sustainable energy for inclusive growth and technology for welfare schemes.

Here are the highlights from the economic survey 2018-19:

(Mallapur is a senior analyst with IndiaSpend.)

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