Tag Archives: ECONOMIC SURVEY 2018-19: Manufacturing contracts amid slowing economy

[G] rowing deficits in a slowing economy present the government with its starkest challenge. Revenue growth is zero while expenditures shot up by 8.7 per cent, yielding a fiscal deficit of 5.0pc of GDP. Meanwhile, the economy ground to a virtual halt — actually contracting in dollar terms — with large-scale manufacturing showing negative growth. The current account deficit shrank …

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