• India
  • Jan 31

What is Economic Survey?

• Finance Minister Nirmala Sitharaman tabled the Economic Survey 2024-25 in the Lok Sabha on January 31.

• It will provide an official assessment of the performance of the economy in the ongoing financial year, and list out the challenges being faced by the nation.

• India’s first Economic Survey was presented in 1950-51. 

• Up to 1964, it was presented along with the Union Budget. Since 1964, it has been separated from the Union Budget and tabled a day before the presentation of the Budget.

Who prepares the Economic Survey?

• The Economic Division of the Department of Economic Affairs tenders expert advice to the government on important issues of economic policy.

• The Division monitors economic developments-domestic and external and advises on policy measures relating to macro management including agriculture, industry and infrastructure sectors of the economy. 

• As part of its regular activities, the Economic Division brings out the Economic Survey annually, which is laid before both Houses of Parliament one day before the presentation of the Union Budget.

• The Economic Survey is prepared under the overall guidance of the Chief Economic Adviser. 

• After receiving inputs from senior officers in the Ministry of Finance, the final version of the Economic Survey is scrutinised by the Finance Secretary and finally approved by the Union Finance Minister. 

• The Economic Survey provides a comprehensive overview of important developments in the economy. It also analyses recent economic trends and provides an in-depth appraisal of policies. 

• Over the years, the Economic Survey has acquired the status of an authoritative source and a useful compendium of the annual performance of the Indian economy. 

• It also provides the roadmap for reforms and growth.

• The document is prepared by a team led by Chief Economic Adviser V. Anantha Nageswaran.

• It will be the third Economic Survey presented by Nageswaran. Nageswaran was appointed CEA in January 2022 by the government.

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