Finance minister Nirmala Sitharaman will present the Economic Survey for 2022-23 in Parliament on January 31, Tuesday, one day before she tables Union Budget 2023. The Budget Session of Parliament will commence at 11 AM on Tuesday with the President addressing both houses in a joint session. After the address, the pre-budget Economic Survey will be tabled by FM Sitharaman with projections for economic growth for FY22, FY23. It will be presented by the Chief Economic Advisor of India (CEA) V Anantha Nageswaran to the public during a press conference later that day.
What is the Economic Survey?
The Economic Survey is the official report card of the country’s economy and is tabled in Parliament by the Union finance minister a day before the presentation of the Union Budget.
The document contains a detailed account of the state of the economy, its prospects and policy changes. The Economic Survey carries sectoral overviews and comments on reform measures needed. The Survey’s outlook serves as a marker for future policy moves as well.
It puts out economic growth forecasts and gives detailed account of why the economy will accelerate or decelerate. At times, it also argues for specific reform measures.
Over the last few years, the Economic Survey has been presented in two parts ‘Part A’ and ‘Part B’, and it includes information on the country’s GDP growth outlook, inflation rate and projections, forex reserves, and trade deficits. The first volume or the Part A of the report gives a broad review of the economy and the major economic developments in the year whereas the second volume of Part B gives details about specific issues like social security, poverty, education, healthcare, human development, and climate, and is generally a broad-based review of the year gone by for the Indian economy. The survey also details major schemes run by the government as well as key policies and their outcomes.
The Economic Survey was first presented in 1950-51, and until 1964, was tabled in the Lok Sabha along with the Union Budget. Since 1964, the Economic Survey has been released every year on the eve of Budget presentation. The only aberration was 2021 when the Survey was presented two days before the Union Budget.
Who Prepares the Economic Survey?
The survey is prepared by the Economics Division of the Department of Economic Affairs (DEA) under the guidance of the Chief Economic Advisor (CEA). Last year, the Economic Survey was presented by the then Principal Economic Advisor, Sanjeev Sanyal. Every year, the Economic Survey has a central theme. The theme of the Economic Survey 2021-22 was ‘An Inclusive, Sustainable, and Resilient Growth Path for India’.
Where, How to watch the Economic Survey LIVE
The livestream of the economic survey can be watched on the government’s official channels. Additionally, Sansad TV, PIB India will also live stream the release.
YouTube link of CEA Economic Survey press conference
Facebook link of Ministry of Finance
http://www.facebook.com/finmin.goi
Live updates on Twitter
twitter.com/FinMinIndia
After the presentation by CEA V Anantha Nageswaran, the documents of Economic Survey 2023 can be downloaded from the government’s official Budget website. http://www.indiabudget.gov.in/economicsurvey/.
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