The government on Thursday pegged the growth rate for the current fiscal at 7 per cent, marginally up from the five-year low of 6.8 per cent 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 per cent reflecting a recovery in the economy after a deceleration in the growth momentum throughout 2018-19." The fiscal deficit estimate for 2018-19 has been retained at 3.4 per cent of the GDP, same as projected in the interim Budget.

Source: The Telegraph July 04, 2019 06:45 UTC