Economic Survey 2024: The wait for the first budget of the third term of the Modi government is now about to end. The new session of Parliament is starting on Monday and the next day i.e. on July 23, Finance Minister Nirmala Sitharaman is going to present the full budget for the financial year 2024-25. Just before the budget, the Economic Survey of India is going to be presented on the first day of the monsoon session of Parliament.
At what time will the economic survey be presented
The Economic Survey 2023-24 will be presented in the Lok Sabha at 1 pm and in the Rajya Sabha at 2 pm. A press conference will be held at the National Media Center at 2.30 pm in which the Chief Economic Advisor to the Central Government V Anant Nageswaran will address along with his team preparing the Economic Survey.
This report came before the interim budget
Every year before the budget, the government presents the economic review in the Parliament. Generally, the economic review is presented in the Parliament by the Finance Minister. Earlier this year, when the interim budget was presented during the month of February, the government did not present the economic survey before that. The Indian Economy: A Review A report by the name was released. At that time it was told that after the formation of the new government, the economic review will be presented before the full budget in July.
Watch Chief Economic Advisor to the Government of India, Dr. V. Anantha Nageswaran’s Press Conference on Economic Survey 2023-24 TOMORROW👇
⏰ 02.30 pm
🗓️ 22nd July 2024
📍National Media Centre
Stay tuned and watch out for LIVE updates on👇
X ➡️ https://t.co/76gY97bgKj, pic.twitter.com/tUgsRIt9cs
— Ministry of Finance (@FinMinIndia) July 21, 2024
Department of Economic Affairs prepares
Every time in the Economic Review, it is told to what extent the targets set by the government in the previous budget were achieved. In a way, the Economic Review is a review of the government’s performance in the last financial year. It is prepared by the Department of Economic Affairs. This time the Economic Review has been prepared by the office of Chief Economic Advisor V Anantha Nageswaran.
Economic review forms the basis of the budget
Economic Review is a very important document in terms of the country’s economic policy. Its importance cannot be underestimated, if not more, than the budget. While the budget outlines the government’s plans for the future (usually the next financial year), the Economic Review contains an account of the government’s work in the past (usually the previous financial year). It means that Economic Review is the past, on the basis of which the future budget is prepared.
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This information is given in the economic review
In the Economic Review, the Chief Economic Advisor explains in detail to what extent the targets set by the government in the last budget have been achieved. Similarly, the Economic Review also gives detailed information about the extent to which the schemes made in the last year’s budget have been implemented. Apart from them, the review also contains details of many other important economic issues, such as the growth rate of the domestic economy (GDP growth rate), inflation rate, performance of various sectors (agriculture, industry, services), etc.
There are these 5 sections in the economic review
The Economic Survey can be broadly divided into 5 sections. Those 5 sections are – analysis of economic performance, policy suggestions, data-based considerations, medium to long-term scenario and global and domestic context. The new session of Parliament will begin on Monday, July 22 at 11 am. Shortly after that, the Economic Survey can be presented in Parliament by the Finance Minister.
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