Economic Survey predicts GDP growth to accelerate to 7-7.5 % in 2018-19

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India’s gross domestic product (GDP) growth will be between seven and seven and a half per cent in 2018-2019, predicts the Economic Survey presented in Parliament on Monday.

A report of the country’s financial health, the survey said India would end the current year with GDP at 6.75 per cent, “reinstating the country as the world’s fastest growing major economy”.

The government had earlier this month reduced the GDP for 2017-2018 to 6.5 per cent.

The Finance Ministry’s annual document had pegged growth between 6.75 per cent and 7.5 per cent in January last year. In the mid-year review in July, it however painted a slightly grim picture saying it might not achieve the higher end of the prediction.

The International Monetary Fund or IMF has projected India’s GDP growth to be 7.4 per cent in 2018.