What is Economic Survey and why it is tabled before Union Budget ?
The Economic survey is an annual report prepared by the Economic Division of the department of Economic Affairs , under the leadership of the Chief Economic Advisor , the post currently held by V. Anantha Nageswaran .
The report informs the public about the government policies and their performances , their impacts innovations , and the developments , The survey also provides an assessment of the various sectors such as agriculture , industry , infrastructure and service under review . The Economic Survey starts with shedding lights on the state of the economic and goes on to highlights the situations , monetary conditions etc.
The highlighted document stated through charts , infographics , tables , and minimum use of text – usually features the silent aspects of each chapters in the survey .
Why Economic Survey Tabled Before the Budget Presentation ?
The Economic Survey analyses the trends in agricultural and industrial production , infrastructure , employment , money supply , prices , imports , exports foreign exchanges reserves and other relevent economic factors which have a bearing on the Union Budget .
The Economic Survey 2024 – 2025, which was presented on Friday , January 31. finance Minister Nirmala Sitaraman has tabled the Economic Survey 2024 – 2025 in parliament providing key insights into the country ‘s Economic performance and shaping expectations for the upcoming union budget on Saturday ..
The Economic survey also providing an outlook for the next financial year .the survey outline the developments in the economy and various Sectors. This document is prepared by a team led by chief economic adviser V. Anantha Nageswaran .
the survey highlights the constraints that India will face in its Endeavour to increase its share of manufacturing in its domestic GDP as well as in global manufacturing . Also , there is a clear global tendency to become inward looking . Under such circumstances , India has to carefully calibrate its own path . Economic survey points to a slight deceleration in India ‘s likely real GDP growth for 2025-2026 .The survey estimated the range of 6.3 -6.5% . the survey recognises the role that government capital expenditure has played in supporting investment demand and overall aggregate demand . It emphasizes the need for continued support to investment both from the central and the state government .
The slowdown in the global manufacturing , not only India , but other Major economics also faced a headwind in this sector . However the service sector remained buoyant ,Manufacturing while steadily recovering , remains slightly below its pre pandemic trajectory .
” A notable trend was the slowdown in global manufacturing , especially in Europe and Asia .
10 key points of the Economic Survey –
