New Delhi. The budget session of the Indian Parliament begins today. Tomorrow Finance Minister Nirmala Sitharaman will present the Union Budget in Parliament. But before that, President Draupadi Murmu will address the Parliament at 11 am today, after which Finance Minister Nirmala Sitharaman will present the Economic Survey. This survey will provide an overview of the health of the country’s economy. Every year the Economic Survey is presented a day before the budget, detailing the growth rate of major economic components and highlighting areas of concern. The Economic Survey provides a comprehensive overview of the country’s economic health. It is an important annual document of the Finance Ministry to be presented by the Finance Minister in Parliament. The survey reviews the performance of the country’s economy over the past year and serves as the primary basis for the budget. Through this document, the government informs the public about the economic condition of the country.
What does the Economic Survey include?
The Economic Survey includes details about the implementation of various government schemes, growth trends and investment-related information. It includes key economic statistics and sector-wise economic trends using data from various sectors such as industry, agriculture, industrial production, employment, inflation and exports. In simple terms, it is the government’s report card, providing insights on income sources, expenditure, inflation and sectoral performance. The survey presents a preliminary picture of the upcoming budget, assessing areas of loss and gain.
There are two parts of the economic survey
The Economic Survey is presented in two parts. The first part provides information about the state of the Indian economy, while the second part contains key economic data. The Economic Survey is prepared by the Economics Division of the Department of Economic Affairs under the Ministry of Finance. The document is prepared under the supervision of the Chief Economic Adviser and requires the approval of the Finance Minister before its release. The Finance Minister presents the Economic Survey in the Parliament, after which the Chief Economic Adviser presents the details of the current financial year.