Economic survey: Chidambaram says the government seems to be pessimistic about the economy

NEW DELHI: Previous finance Minister P Chidambaram on Thursday he said there are no sectoral growth projections in the pre-budget economic survey presented in Parliament and the government seems to be pessimistic about the economy In a statement, the main leader of the Congress said that the findings of the 2018-19 economic survey were not positive or encouraging.

"It appears to me that the government, speaking through the economic survey, is pessimistic about the economy," he said.

Chidambaram said the economic survey 2018-19 is the first of the new government under finance Minister Nirmala Sitharaman .

I looked for the perspectives for 2019-20. It is found in Volume-2, Chapter 01, but there is only one bland statement that the economy's growth is expected to be 7 percent in 2019-20. There are no growth projections in the sector. wise, he said.

The Congress leader said that the closest thing to the description of the perspectives for 2019-20 can be found in Volume-2, Chapter 02.

The economic survey indicates (1) the slowdown in growth, (2) the deficit in revenues, (3) the search for resources without compromising the fiscal deficit target, (4) the impact of oil prices on the current account and (5) the recommendations of the fifteenth financing. Commission on central government finances. I'm afraid none of this is positive or encouraging, he said.

According to the economic study, India's economic growth, which is expected to rebound from a minimum of five years to 7 percent this year, now needs to change gears to accelerate and sustain a higher growth rate to become a economy of $ 5 billion for 2024 25.