The Economic Survey 2019-20, tabled by Finance Minister Nirmala Sitharaman on Friday, January 31, has pegged the Gross Domestic Product (GDP) at 6 percent to 6.5 percent for the next fiscal starting April 2020-21.

The survey, prepared by Chief Economic Advisor Krishnamurthy Subramanian, gives a review of the developments in the economy over the previous 12 months and also gives an outlook for the next financial year.

Nirmala Sitharaman
Finance Minister Nirmala SitharamanIANS

Here are the highlights of the Economic Survey:

  1. GDP growth has been pegged at 6-6.5 percent in the fiscal year starting April 1, up from 5 percent in current fiscal.
  2. Agricultural growth showed a modest revival in the first half of 2019.
  3. Inflation witnessing moderation since 2014.
  4. The volatility of prices for most essential food commodities down in 2014-19.
  5. India needs to spend $1.4 trillion on infrastructure to remove the constraints in growth, as power shortages, inadequate transport and poor connectivity affects overall growth performance, and to achieve a GDP of $5 trillion by 2024-25.
  6. Fiscal deficit target for current fiscal may need to be relaxed to revive growth.
  7. National Infrastructure Pipeline (NIP) is expected to enable well-prepared infrastructure projects that will create jobs, improve ease of living and provide equitable access for infrastructure for all thereby making growth more inclusive, the Survey observes.
  8. A bouquet of well-prepared projects in roads, rail and housing amongst others will attract investments in the infrastructure sector, the Economic Survey 2019-20 said.
  9. 2.62 crore new jobs created in rural, urban areas between 2011-12 and 2017-18 among regular wage/salaried employees.
  10. Eight percent increase in regular employment of women in 2017-18 over 2011-12.