The 7 per cent growth pegged by the Economic Survey for 2019-2020 is a pragmatic target and with the right arrangement switches set up, we can venture up growth to support a normal growth rate of 8 per cent throughout the following five years.
The survey’s key forecast states that for sustaining growth at 8 per cent, investment would need to be the key driver for proclaiming simultaneous growth in demand, employments, exports and profitability.
Deliberate exertion is required to drive an improvement in private investment alongside powerful utilization to lift growth in the current financial from a multi-year low of 6.8 per cent posted in 2018-2019
The positive in the economic survey do give us hope to ride over a portion of the challenges faced by the economy. Some of the difficult issues like the liquidity concerns of Non-Banking Financial Company (NBFCs) and the effect on the utilization would require bold moves by the government and the RBI.