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Economic Survey

ByULF TEAM

Jan 31, 2024 #Economy
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Recently, the Ministry of Finance released a report titled “Indian Economy – A Review” as Economic Survey was not be released at this time.

The report ‘Indian Economy – A Review’ gives the top highlights in the Indian economy from the past 10 years.

  • ES – A comprehensive annual report which displays the performance of the Indian economy in the past fiscal year.
  • Prepared by – Department of Economic Affairs, ministry of Finance.
  • Presented in – Parliament, normally on 31st January, a day before the presentation of the Budget.

The 1st Economic Survey of India was presented in 1950-51 as a part of the Union Budget. However, since 1964, it has been decoupled from the Budget presentation.

  • ES in 2024 – Since the Lok Sabha elections are due in April, only interim budget will be presented before it.
  • Thus, a complete budget and the Economic Survey will be presented only in July 2024, after the results are declared.
  • Presented by – The Chief Economic Advisor (CEA).
  • Features – It summarises the performance of government’s initiatives and provides an outlook of the prospects of the Indian economy in the short to medium term.
    • Part A – Major economic developments in the year as well as a broad review of the economy.
    • Part B – It covers specific topics such as social security, poverty, education, healthcare and human development.
  • Importance – It helps the government in analysing the performance of various sectors, identifying the major impediments to economic growth and in formulating economic strategies for the coming year.
  Economic Survey Union Budget
Content It deals with economic policies and demonstrates forthcoming economic plans. It deals with yearly expenditures and income.
Presented on 31st January on non-election years. 1st February on non-election years.
Presented by Chief Economic Advisor Union Finance Minister

 

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