NEW DELHI: Indian Finance Minister Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament on Thursday which has projected a 7 percent GDP growth in fiscal 2019-2020, from a 6.8pc five-year low the previous year.

The survey said India faces a challenge on the fiscal front following an economic slowdown impacting tax collections and rising state expenditure on the farm sector. Ms Sitharaman will present the budget on Friday.

However, the investment rate was expected to pick up with improved consumer demand and bank lending.

The real GDP growth projection reflects a recovery in the economy after a deceleration in the growth momentum in 2018-19.

Growth could pick up in the current fiscal as macroeconomic conditions continue to be stable while structural reforms initiated in the previous few years are continuing on course.

Published in Dawn, July 5th, 2019