Chief Economic Advisor V Anantha Nageswaran along with Principal Economic adviser Sanjeev Sanyal and Rajiv Mishra shows Economic Survey 2021-22, in New Delhi, Monday, Jan. 31, 2022.
Credit: PTI File Photo
Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey for 2023-24, a day ahead of the Union Budget, which will be tabled in the Parliament on July 23.
Economic Surveys are comprehensive financial documents on the Indian economy that provide insights into sectoral performance and economic growth.
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 earlier.
Apart from highlighting the financial developments of the past year, the document also shows trends in various sectors of the economy like agriculture, industrial production, export, import infrastructure, among other things.
The document usually 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
The Economic Survey is an important tool to design a Budget as it provides a full-fledged feedback and also acts as a guide by pointing out the priorities that the Finance Ministry has to take in the next financial year.
That being said, the Economic Survey is non-binding. That means the government may reject all the recommendations made in the survey.
Earlier, the Economic Survey used be released as two separate volumes. However, the surveys released from 2021-22 adopted a consolidated approach, wherein both volumes were included in one document.
Here's the full texts of the last five Economic Surveys:
Economic Survey 2023-24
Economic Survey 2022-23
Economic Survey 2021-22
Economic Survey 2020-21
Economic Survey 2019-2020
Union Budget 2024 | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.