New Delhi, July 4: Soon after the Economic Survey 2019 was tabled in the press conference, Chief Economic Advisor KV Subramanian held a press conference to discuss the document. The highlights of the survey are that the Gross Domestic Product (GDP) is predicted to grow at 7 percent in the financial year 2019-20. Further, the survey has estimated fiscal deficit to be scaled down to 5.8 percent in FY19-20, down from 6.4 percent in the last fiscal year. The lowering of fiscal deficit estimate validates the government's claim of a surge in tax revenues, claim experts. GDP Predicted to Grow at 7%, Fiscal Deficit Estimated to be Scaled at 5.8%

PM Narendra Modi tweeted saying that the Economic Survey 2019 outlines the vision to achieve a $5 trillion economy. He further mentioned that the Survey talks about the gains from the advancement in the social sector, the adoption of technology and energy security.

Check out PM Narendra Modi's Tweet here:

Some of the other highlights in the Economic Survey 2019 is that to become a $5 trillion economy by 2025, India needs to sustain a GDP growth rate of 8%. The survey further predicted that oil prices will decline in 2019-2020. Imports slated to grow at 15.4% while exports projected to grow at 12.5% for the year 2018-19.

(The above story first appeared on LatestLY on Jul 04, 2019 03:04 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).