Economic Survey 2019 outlines vision to achieve $5-trn economy: PM Modi

The Eco Survey analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves ahead of Union Budget 2019

economy, business, India
The expansion in the economy will be driven by investment and consumption | Photo: Shutterstock

India's economic growth, which is expected to rebound from a five-year low to 7 per cent this year, now needs to shift gears to accelerate and sustain a higher growth rate to become a $5-trillion economy by 2024-25, the pre-Budget Economic Survey said Thursday. Investment rate, which was been declining from 2011-12, seems to have bottomed out, and is expected to pick up in consumer demand and bank lending. However, economic slowdown impacting tax collections and rising state expenditure on farm sector may put strains on the fiscal front, the survey presented in Parliament ...