0

0

0

0

0

0

0

0

0

This article is more than 10 month old.

Budget 2021: Here's all you need to know about Economic Survey

Mini

The Economic Survey 2020-21 will be tabled in Parliament on January 29. The government will then present the budget in Parliament on February 1.

Budget 2021: Here's all you need to know about Economic Survey
The Economic Survey, which is presented ahead of the union budget, summarises the annual economic development in the country. The Economic Survey 2020-21 will be tabled in Parliament on January 29. The government will then present the budget in Parliament on February 1.
Here are key things to know about Economic Survey:
  • The Economic Survey highlights the economic trends in the country and facilitates a better appreciation of the mobilisation of resources and their allocation in the budget, according to the government.
  • This survey analyses the trends in agricultural and industrial production, infrastructure, employment, money supply, prices, imports, exports, foreign exchange reserves and other relevant economic factors that have a bearing on the budget.
  • It can be said as an economic report card that provides detailed statistical data covering all aspects of the economy.
  • It is brought out by the Economic Division of the department of economic affairs, ministry of finance. The Economic Survey is presented to parliament usually in advance of the union budget.
  • It is not binding on the government to table the Economic Survey. But now it has become a part of the practice. Government is also not bound to follow its recommendations.
  • Last year, the Economic Survey 2019–20 was presented during the budget session in the parliament on January 31 by finance minister Nirmala Sitharaman and prepared under Krishnamurthy Subramanian, the chief economic advisor to the government of India.
  • Meanwhile, the first phase of the budget session for this year will commence from January 29 to February 9. After a recess, Parliament will meet again from March 5 to April 6.
    The union budget will be presented by finance minister Nirmala Sitharaman on February 1 at 11:00 am.
    next story