Representative image of a survey.
Credit: iStock Photo
Finance Minister Nirmala Sitharaman will present the Union Budget on February 1. It will be for the first time, when the Union Budget will be presented on a Sunday.
The Economic Survey is released prior to the Budget. This document offers a detailed review of developments in the previous financial year. It also outlines the government’s roadmap for reforms and growth.
Economic Survey: What all does it contain?
The Economic Survey document mainly lists down analysis and insights about the state of the economy, and developments across various sectors. It also throws light on climate change and adaption to it. The report also discusses prices and inflation, and monetary management along with challenges to keep in mind in the upcoming financial term.
The survey document opens with a preface written by the Chief Economic Advisor, Ministry of Finance, Government of India. Detailed chapters then follow.
Contents
It generally has two parts:
a. Part that talks about the economic challenges that India faces
b. Part that deals with the analysis of the previous year
Presentation
The Economic Survey is presented a day before the presentation of the actual Budget. It is prepared under the supervision of the Chief Economic Advisor (CEA).
History
The first Economic Survey was presented in the lower House of the Parliament in 1950-51. It continued to be a part of the Union Budget, but since 1964, it has been de-linked and is being presented much earlier.
More about Economic Survey
This Survey is released annually by the Ministry of Finance. It also plays a great role in analysing different trends in various sectors of the economy like agriculture, industrial production, export, import infrastructure, among other things.