New Delhi:
How much does your house spend every month? Where does how much money comes from? What is saving or the loan is increasing? You must have kept all these accounts! Now think, when the expenses of a house are kept so closely, then you will have to keep an account of the economy of the entire country! And the same thing works Economic Survey! But this is not just a report, but the real report card of the functioning of the government! Now the question is, what difference does you make with Economic Survey? Why does it come before Budget?
Economic Survey: What is this?
See, if Union Budget is a plan for the country’s income and expenses, then Economic Survey is the X-Ray of that budget! That is, it is said in this survey how the economic health of the country was last year, how much GDP has increased or fell, how much inflation killed, what was the condition of unemployment, how the industry and farming go, what is the help in the export-import How is the situation of the country’s money! It does not only talk about this year, there is a complete account of the last few years. It releases Finance Ministry, and is the largest brain behind it – of CHEF Economic Advisor (CEA). Now understand that the role of CEA is like a doctor, who prepares a report by checking the economy of the entire country and tells the government whether the medicine should be given!
Two big parts of the Economic Survey!
Economic Survey is divided into two parts – Part A and Part B. Part A means report card of economic health of the country! It has a story of big economic figures like GDP Growth, Industry Growth, Inflation, Forex Reserves, Export-Emport! What were the policies of the government? How much benefit or loss? How was the trend of Economic Growth? What are the possibilities ahead? All these information is done in Part A. Now the matter of Part B. So in Part B it is said that what was done for the public? What is the rate of unemployment? How many new jobs have been made? How much did the government spend on education, health, poverty, climate change? What help did farmers and small businessmen get? What was the effect of inflation on the public? That is, this survey is not just a game of statistics, but it tells what effect the government’s policies had on the life of the common man!
Why before the Economic Survey Budget?
Now this question is important that why Economic Survey is brought just one day before the budget? The first reason is that what is going to happen in Budget, it is found here! The second is that the market and investors are indicated before Budget! Third, the government also comes to know which sectors should give more focus in Budget! And the fourth is that the public also understands whether it is benefiting from the policies of the government or loss! Now the basic idea of all the big announcements the government makes in Budget comes from this Economic Survey! To say this in an easy way, the economic survey is the document that the government takes decisions in the budget! For example, if the survey said that the income of farmers has reduced, then more money will come on agriculture in the budget. Or if the export is weak, there will be plans to promote export. And all these have a direct effect on your pocket!
History of Economic Survey
Now let us know a little history what happened earlier? You will be surprised to know that earlier both the Economic Survey and the budget used to come together. This continued from 1950 to 1964. But later the government separated it so that the country’s economic situation could be properly assessed before making a budget!
How does the Economic Survey show the mirror to the government?
Now the real issue is whether the Economic Survey is just a report or the real report card of the government? The first one shows the truth of unemployment! The government talks about new employment every time, but the Economic Survey has real figures that how many jobs were really born and how many people were unemployed! Second, this brings out the real reality of inflation! Petrol-diesel, food and drink items, medicines-how much the prices of all of them have increased or decreased, its exact data will be found here! Thirdly, the condition of farmers and traders is also known by this! How much the government is paying attention to agriculture and MSMEs, it is also clear from this report! The fourth is fiscal deficit i.e. Fiscal Deficit! – The cost of the government is more than its income or less? Is the government running work by borrowing? It is also known. And fifth, foreign investment and business condition! That is, how much money came from outside and how the business of India was, it also shows from Economic Survey.
What are the expectations from the Economic Survey of this time?
Some big issues may come up in the Economic Survey, which comes before the 2025 Budget, such as:
GDP Growth Rate: Is the Indian economy moving beyond 7%?
Unemployment: Are new jobs being created or the condition is worse?
Inflation: What report will come on food and drink prices?
Government’s income: What is the condition of tax and government earnings?
Rupee position: Is the rupee getting stronger or falling against the dollar?
Agriculture and Industry: How is the condition of farmers and business sector?
But the biggest question: Why is the survey of 2025 special? So let us know that this time the theme of the survey is ‘D-Regulation’ i.e. the government will ‘loose’ the rules! The government wants business to do business and the paper race is low.
After all, what will be the effect on you?
If you are a common man, then this survey will tell you whether inflation will increase or decreases? How are the chances of getting a job? What will the government spend more on? If you are an Investor or Businessman, it will help you plan your investments and business strategies! That is, understanding Economic Survey is equally important not only for the government, but also for you! So overall Economic Survey is the real performance report of the government! This is a mirror of the functioning of the government, which shows in what condition the economy of the country is. Now it will be seen that this time the Economic Survey opens the secrets and how much relief does the common man get in Budget 2025. If you feel that the budget is only a matter of increasing the tax, then you are misunderstanding! The real game has started in the Economic Survey. Next time the survey comes, then definitely read it … because it is not just a book, your future blueprint!