India projects 2019/20 GDP growth to rise to 7pc

India projects 2019/20 GDP growth to rise to 7pc

BENGALURU: India predicted that economic growth in the current fiscal year could rise to 7pc from 6.8pc for the year that ended March 31, which was the slowest pace in five years.

The government’s economic survey, presented to parliament on Thursday, said India will face a challenge on the fiscal front following an economic slowdown impacting tax collections amid rising state expenditure on the farm sector.

The projection comes a day before the government is due to unveil its budget for the 2019/20 year.

APP