The Economic Survey is a crucial annual report that provides a detailed evaluation of India’s economic performance over the past fiscal year. Prepared by the Economic Division of the Department of Economic Affairs under the leadership of the Chief Economic Advisor (CEA), currently V Anantha Nageswaran, the Survey presents a comprehensive assessment of government policies, economic sectors, and key indicators like GDP growth, inflation, and employment.
When and Where is the Economic Survey Presented?
The Economic Survey 2024-25 will be tabled by Union Finance Minister Nirmala Sitharaman on January 31, 2025. The presentation will occur in the Lok Sabha and Rajya Sabha, following President Droupadi Murmu’s address to Parliament. The Finance Minister will release the full report, including its highlights and statistical appendix, in both houses of Parliament.
Why is the Economic Survey Released Just Before the Union Budget?
The Economic Survey is traditionally released one day before the Union Budget, and it serves as a precursor to the detailed financial plan the government will unveil. This timing is intentional: the Economic Survey sets the stage for the Union Budget by offering a comprehensive review of the current economic situation and laying out the context for the proposed budgetary allocations. It gives lawmakers, economists, businesses, and the general public a clearer understanding of where the economy stands before making decisions on fiscal policy and budgetary matters.
What Does the Economic Survey Include?
The Economic Survey covers a wide array of topics, including:
- Government policies and their performance: It assesses the effectiveness of existing policies and government initiatives.
- Sector-wise performance: The Survey evaluates the progress and challenges faced by key sectors such as agriculture, industry, infrastructure, and services.
- Economic trends and outlook: The report provides insights into economic growth, inflation, fiscal deficit, employment, and more.
- Policy recommendations: The Survey outlines strategic recommendations for sustaining growth and addressing emerging economic challenges.
Key Themes of the 2024-25 Economic Survey
This year, under CEA V Anantha Nageswaran’s guidance, the Economic Survey will likely focus on India’s shifting economic dependencies, the transition to renewable energy, and the evolving role of the private sector in ensuring social stability and long-term profitability.
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