Jul 18, 2024 02:50 PM IST
The first Economic Survey of India was presented in 1950-51. Until 1964, it was presented with the Budget after which it was separated and presented before it.
The Economic Survey of India is presented annually by the government and it reviews the state of the economy in the previous year. At the same time, the detailed report also reflects on short-to-medium-term prospects for the Indian economy. The Economic Survey is presented for Parliament’s consideration ahead of the Union Budget. The first Economic Survey of India was presented in 1950-51. Until 1964, it was presented along with the Union Budget after which it was separated and presented before the Budget. The government is not constitutionally required to present the Economic Survey or follow the recommendations made in the document.
What is the Economic Survey?
An Economic Survey is a comprehensive annual document prepared and presented by the Ministry of Finance. It is presented in Parliament a day before the Union Budget. It provides a detailed overview of the economic performance of the country over the past financial year and contains statistical data related to parameters like GDP growth, inflation, employment, fiscal deficit. The document also suggests policy measures to address economic challenges and promote growth.
Who presents the Economic Survey?
The Economic Survey is prepared by the Chief Economic Adviser (CEA) of India and his/her team within the Ministry of Finance. It is presented in Parliament by the Finance Minister of India.
Why is the Economic Survey important?
The Economic Survey provides policymakers with insights and recommendations and promotes transparency by presenting an objective analysis of the economy. It also informs various stakeholders about the economic conditions and outlook.
Who prepares the Economic Survey?
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs (DEA) within the Union finance ministry under the guidance of the CEA.
