New Delhi, July 22: Union Finance Minister Nirmala Sitharaman is set to table the Economic Survey in Parliament today. This comprehensive annual report reviews the Indian economy over the past financial year and is prepared by the Economics Division of the Department of Economic Affairs within the Finance Ministry, under the guidance of India's Chief Economic Advisor (CEA). This year’s document, prepared by CEA V Anantha Nageswaran, will be released on July 22, a day ahead of the Budget announcement.
The Economic Survey functions as a summary of the government's economic performance, major developmental programmes, and policy initiatives, providing an outlook for the upcoming financial year. The document is divided into two parts: Part A includes the country's economic developments and challenges, offering a broad review of the economy; Part B analyses the past financial year across specific topics such as social security, poverty, education, healthcare, human development, and climate.
This year, the Economic Survey 2023-24 will be presented in the Lok Sabha at 1 pm and in the Rajya Sabha at 2 pm, followed by a press conference by CEA Nageswaran.
Economic Survey 2024: How is the Economic Survey Different from the Budget?
While both the Union Budget and the Economic Survey share some similarities, there are key differences between the two. The Economic Survey provides an economic overview of the past financial year, with suggestions for the year ahead. In contrast, the Budget outlines goals and allocations for the upcoming financial year.
The Survey consists of analysis, data, research, and recommendations, serving as a detailed statistical report for journalists, educators, researchers, and students. On the other hand, the Budget is broader and impacts the daily life and functioning of common people and corporates alike, aiming to meet the requirements for policies, allocations, and plans for the financial year ahead.
