Economic Survey 2019: Society of Manufacturers of Electric Vehicles appreciates Modi 2.0 - What SMEV chief said

A day ahead of the first Full Budget of Modi 2.0, Union Finance Minister Nirmala Sitharaman on Thursday tabled the Economic Survey 2019 in the Rajya Sabha. Reacting to Economic Survey 2019, Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV), has appreciated the Modi government’s intent. "Electric Vehicles finding a space in the Economic Survey shows how crucial this industry is for the economic and ecological condition of the country," Sohinder Gill said lauding the Economic Survey 2019. Here is FULL TEXT of Sohinder Gill's statement on Economic Survey 2019:-

"Electric Vehicles finding a space in the Economic Survey shows how crucial this industry is for the economic and ecological condition of the country. Government’s thrust towards creating a charging infrastructure would certainly clear doubts amongst fence sitters and motivate them to come up with new energy products. We really appreciate the government’s intent and believe that the target laid by the government can be achieved if all the stakeholders come forward and start investing in the sector."

On Economic Survey, Chief Economic Adviser (CEA) Krishnamurthy Subramanian has said, "Our team has put in a lot of effort with a lot of dedication, I hope results are good and we are able to contribute to the ideas for the economy. I hope the almighty blesses us." 

Here are the key takeaways of the Economic Survey 2019:-

 7% GDP growth predicted in FY20

- Growth expected to be on a higher trajectory in FY20

- Boost in investment expected in FY 20

- Crude oil prices may witness downslide 

- Rural development gained momentum from 2018 only 

- Increased demand will give pace to investment

- Decline in NPA should result in an increment in expenditure

- Fiscal deficit estimated at 5.9% in FY19

- Overall economy will see gains due to political stability 

The first budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister Nirmala Sitharaman. Before the country went to polls, an interim Budget authorising government expenditure for a limited period was presented on February 1.