Economic Survey pegs economic growth at 7 pc for FY20

Economic Survey pegs economic growth at 7 pc for FY20
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New Delhi: The government on Thursday pegged the growth rate for the current fiscal at 7 percent, marginally up from the five-year low of 6.8 percent recorded in the previous fiscal.

According to the Economic Survey for 2018-19, tabled by Finance Minister Nirmala Sitharaman in the Rajya Sabha, "real GDP growth for the year 2019-20 is projected at 7 percent reflecting a recovery in the economy after a deceleration in the growth momentum throughout 2018-19." 

The fiscal deficit, as per the survey deteriorated to 5.8 percent of the GDP as compared to 3.4 percent for 2018-19 estimated in the interim Budget.