India

Economic Survey Tabled In Parliament; What You Need To Know

Union Finance Minister Nirmala Sitharaman tabled the first Economic Survey of the re-elected Narendra Modi government in Parliament on Thursday, a day ahead of the tabling of the Union Budget for 2019-20.

The survey, projecting the state of health of the country’s economy and outlining the challenges ahead of the Union budget, predicts 7 per cent GDP growth in the current financial year.

This year’s Economic Survey is prepared by Chief Economic Adviser Krishnamurthy Subramanian.

Here are 10 things to know about the Economic Survey:

  1. Typically, an Economic Survey provides a policy perspective for the Union Budget.
  2. The survey highlights policy initiatives of the government and a roadmap to further boost the economy.
  3. An economic survey also summarises the performance on major development programmes and highlights the policy initiatives as well as the economic prospects over the short to medium period.
  4. The Economic Survey is presented a day before the Union Budget to both houses of Parliament during the Budget Session.
  5. As the flagship document of the finance ministry, the Economic Survey provides detailed statistical data covering all aspects of the economy.
  6. It facilitates a better appreciation of the mobilisation of resources and their allocation in the Budget.
  7. The Economic Survey analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves and other relevant economic factors which have a bearing on the Budget.
  8. The Economic Survey helps the government to determine which sectors to focus on going forward.
  9. For a better appreciation of the impact of government receipts and expenditure on different sectors of the economy, it is necessary to group them in terms of certain economic magnitudes.

10. The last Economic Survey (for financial year 2017-18) was prepared by the then Chief Economic Adviser, Arvind Subramanian, on January 31, 2018.

OB Bureau

Recent Posts

3 Arrested For Looting Govt Official By Using Toy Gun In Odisha

Cuttack: Three criminals were arrested by Choudwar police in Odisha’s Cuttack district for allegedly looting… Read More

20 minutes ago

ISL: 10-Man Odisha FC Go Down 0-1 To Toppers Mohun Bagan Via Injury-Time Goal

Kolkata: Odisha FC fought gallantly in the lion’s den but finally returned empty-handed. Up against league… Read More

36 minutes ago

Caught Using AI To Solve Maths Problem, Class X Board Exam Candidate Loses A Year!

Kolkata: A West Bengal secondary board exam (Madhyamik) candidate recently took Artificial Intelligence (AI) to… Read More

1 hour ago

4th Batch Of Illegal Immigrants Back: 12 Indians Deported From US To Panama Arrive At Delhi’s IGI Airport

New Delhi: A fourth batch of Indian nationals deported from the US arrived at Indira… Read More

1 hour ago

Record 6.82 Lakh Olive Ridley Turtles Visit Odisha’s Rushikulya River Mouth For Mass Nesting

Berhampur: Rushikulya river mouth in Odisha’s Ganjam district has emerged as a major rookery for… Read More

2 hours ago

Two 18-Month-Old Toddlers Crushed To Death By Speeding Cars In Delhi & Mumbai

Delhi/Mumbai: Twin tragedies in Delhi and Mumbai claimed the lives of a pair of 18-month-old… Read More

2 hours ago