The Economic Survey 2023-24, prepared by the Economic Division of the Department of Economic Affairs under the Ministry of Finance and guided by the Chief Economic Adviser, will be tabled by Finance Minister Nirmala Sitharaman before the Union Budget 2024 in Parliament.
The Budget session starts on July 22, and the Budget 2024 will be unveiled on July 23, 2024.
Earlier this year, no Economic Survey was tabled during the Budget session in February due to the presentation of an Interim Budget in view of the Parliament Elections. Instead, the government released a report titled ‘Indian Economy – A Review’, authored by the Chief Economic Adviser, V. Anantha Nageswaran. However, this time, in anticipation of the first full Budget of the Modi 3.0 government, the Economic Survey will be presented.
Economic Survey: The Meaning and History
The Economic Survey provides a detailed analysis of the economy’s current state, key financial indicators for the fiscal year, and projections for the coming year. It offers very valuable insights and guidance on what to expect from the Union Budget 2024-25.
First introduced in 1950-51 as part of the budget documents, the Economic Survey was later separated in the 1960s to be presented a day before the Budget. The survey’s central theme is a key highlight, and it includes sectoral chapters and new need-based chapters addressing current economic issues.
Major announcements by the finance minister and the government’s economic outlook will be closely watched.
Economic Survey 2023-24: Date and Time
Finance Minister Nirmala Sitharaman will table the Economic Survey 2023-24 in Parliament on Monday, July 22, 2024, around 1:00 PM. Following this, Chief Economic Advisor V. Anantha Nageswaran will hold a press conference at 2:30 PM.
In 2022, the survey’s theme was ‘Agile Approach’, focusing on India’s economic response to the COVID-19 pandemic.
By 2023, the theme shifted to ‘Recovery Complete’, highlighting the broad-globalwide-impact and recovery from the pandemic, the Russian-Ukraine conflict, and inflation, marking a return to the pre-pandemic growth trajectory.
With the Union Budget 2024-25 at the Threshold, the Economic Survey stands as a Progress Report to the Financial Efforts of the Government, in the Financial Year 2023-2024.
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