Economic Survey of India to be Presented Today
This document also has a detailed economic demographic of the economic condition of the country
NEW DELHI: The Chief Economic Advisor of the country will present the Economic Survey of India on Tuesday, a day ahead of the tabling of the Union Budget for the upcoming year. This report will first be tabled in the parliament by Finance Minster Nirmala Sitharaman before V Anantha Nageswaran presents it to the public.
The Economic survey is a detailed account of the economic condition of the country along with several important markers. These include trends in different segments of the economy including agriculture, industry, forex reserves, inflation and many more. It also earmarks the challenges and possibilities for economic growth in the coming year. This document also has a detailed economic demographic of the economic condition of the country and an insight into what the annual budget might have in store, which will be presented on Wednesday in the parliament.
The history of this document is almost as old as the presentation of the annual budget itself. It was first presented with the budget for the 1950-51 financial year and till 1960 it used to be included with the budget itself, after which it was divided into a separate document. The first part of the Economic Survey contains the details of the current economic condition of the country while the second shows the breakdown across several verticals including poverty, climate change, development and healthcare.
It also presents a comprehensive view of different sectors with statistical data which helps in the prediction of upcoming trends. These predictions include the projected increase or fall in the Gross Domestic Product, exports, imports and consummation of important resources. Government schemes and their implications are also highlighted in this survey. This data and the trends help the lawmakers as well as officials to design and implement the annual budget while giving insight to the citizens about the reasons of certain key points of the budget.