Parliament The budget session of the Parliament is starting from today. Tomorrow i.e. on Tuesday, Finance Minister Nirmala Sitharaman will present the general budget in the Parliament. Just before the budget, after the address of President Draupadi Murmu at 11 o’clock today, Finance Minister Nirmala Sitharaman will present the Economic Survey. This economic survey will give an account of the health of the country’s economy. Let us tell you that every year the Economic Survey is presented in the country just a day before the budget. In this, a detailed account is presented about the growth rate and concerns of the major components of the economy. Now you would like to know what this Economic Survey is and how important it is. Let us know.
An account of the country’s economic health
Economic Survey is an account of the country’s economic health. The Finance Minister presents the Economic Survey in the Parliament. Economic Survey is the main annual document of the Finance Ministry. It tells how the country’s economy has been in the last 1 year. It is also the main basis of the budget. The government tells about the country’s economic condition through this document.
What is there in it?
The implementation of various government schemes is mentioned in the Economic Survey. The growth trend is explained. Information is given about how much investment has come where. It contains details of major economic figures and sector-wise economic trends. For this, data from various sectors, industry, agriculture, industrial production, employment, inflation, exports are used. In simple language, it is the report card of the government. From where will the government get income, where will it spend, how much will be the inflation, which sector passed and which failed, all this information is available in the Economic Survey. In a way, an external picture of the general budget to be presented the next day comes out from the Economic Survey. From this survey, an assessment is made as to where there has been a loss and where there has been a profit.
Economic survey has 2 parts
The Economic Survey is presented in two parts. The first part provides information about the state of the Indian economy. Whereas, the second part contains information on key economic data.
Who prepares the economic survey
The Economic Survey is prepared by the Economics Division of the Economic Affairs of the Ministry of Finance. This document is prepared under the supervision of the Chief Economic Advisor. Before releasing it, the approval of the Finance Minister has to be taken. The Economic Survey is presented in the Parliament by the Finance Minister. After this, the Chief Economic Advisor presents the details of the current financial year.
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