Economic Survey of India predictes India’s growth to 7.5%

The Economic Survey 2017-18 has tabled by Union Finance Minister Arun Jaitley in Parliament on January 29, 2018. The survey has predicted 7 to 7.5% of India’s GDP growth in FY 2018-19. It says that a series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75% this fiscal and will rise to 7.0 to 7.5% in 2018-19. It stated that the employment, education and agriculture will be the focus areas in the midterm. The survey underlines that due to the launch of transformational Goods and Services Tax (GST) reform, resolution of the long-festering Twin Balance Sheet problem, implementing a major recapitalization package to strengthen the public sector banks, further liberalization of FDI and the export uplift from the global recovery, the economy began to accelerate in the second half of the year and can clock 6.75% growth this year.