New Delhi:
Finance Minister Nirmala Sitharaman (Nirmala Sitharaman) will present the Economic Survey 2024-25 in Parliament today i.e. on Friday. This document analyzes the performance of the Indian Economy in the current financial year and throws light on the upcoming challenges. This report, presented a day before the General Budget (Union Budget 2025), also determines the direction of economic reforms and development.
This year the draft of the Economic Survey (Economic Survey) has been prepared under the leadership of V. Anantha Nageswan. This document explains the government’s approach to the next financial year, as well as the progress of different sectors of the economy.
Budget session starts from today
Today, President Droupadi Murmu will address the joint session of Parliament, with which the budget session will be officially started. After this, Finance Minister will present the second Union Budget (Union Budget 2024-25) of the third term of the Modi government on Saturday.
This time the Budget Session (Parliament Budget Session 2025) will be held in two parts. The first part will run till 13 February, while the second part will start from March 10 and end on 4 April.
Which issues will focus be on?
This time the economic review can assess important points such as a potential lethargy in the growth rate, the decline in the exchange rate against the dollar and the decrease in domestic consumption. In addition, new and important suggestions are also likely to be made on challenges related to Poverty Alleviation, Climate Change, Education, Infrasture Development and Financial Sector (Financial Sector).
History of Economic Survey
Economic review was introduced in India for the first time in 1950-51. Initially it was presented along with the Union Budget, but from 1964, the tradition of releasing it a day before the budget started. Since then, every year the Economic Survey is presented in Parliament just before the budget.
The draft of Economic Review (Draft) prepares a special team of Chief Economic Advisor and Ministry of Finance. This document is mainly prepared by the Economic Division of the Department of Economic Affairs of the Ministry of Finance (Department of Economic Affairs – Dea).
When the Finance Secretary reviews the final draft of the Economic Review and approves it, it is presented in Parliament after the signature of Finance Minister. This year too, Chief Economic Advisor V Anant Nagswaran and his team have prepared it.
Now everyone’s eyes are on what important things come in the economic review about the current status and future policies of the Indian economy.
Also read- Budget 2025: What is the Economic Survey and when is it presented? Know what is in the budget