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Eco Survey tabled in Parliament, 2019-20 GDP growth expected to rise to 7%

In January-March, annual growth slumped to 5.8%, the slowest pace in 20 quarters.

Reuters  |  NEW DELHI 

 India predicted on Thursday that economic growth in the current fiscal year could rise to 7.0% from the 6.8% for the year that ended March 31, which was the slowest pace in five years. The government's economic survey, presented to parliament on Thursday, said India will face a challenge on the fiscal front following an economic slowdown impacting tax collections amid rising state expenditure on the farm sector. However, the investment rate was expected to pick up following improvement in consumer demand and bank lending, the report said. "The growth in the ...

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First Published: Thu, July 04 2019. 12:35 IST