Economic Survey 2024-25: The Economic Survey (Economic Survey) will be introduced in Parliament on 31 January. This report will analyze India’s economy in a detailed analysis of the previous financial year. It will also give policy suggestions to promote economic growth and deal with challenges along with major trends in agriculture, industry and service sectors.
This survey has been prepared under the supervision of Chief Economic Advisor V Anant Nageswaran. Finance Minister Nirmala Sitharaman will present it in Parliament. The Chief Economic Advisor will then answer media questions in the press conference.
India’s first Economic Survey was introduced in 1950–51. By 1964 it was presented along with the budget, but later the tradition of presenting it a day before the budget began.
The next day, on 1 February, Nirmala Sitharaman will present her eighth Union Budget. The budget session will start from 31 January and run till April 4, in which the government will discuss the country’s economic schemes and priorities.
Come, know about the Economic Survey-
What is an Economic Survey?
The Economic Survey is a detailed analysis of the current status of India’s economy, which is presented in Parliament just one day before presenting the budget. This survey presents an account of the economic health of the country and shows in which direction the economy is moving.
The government gives information through this document how the progress of various schemes has been and how their economic policies have affected the country. The Economic Survey not only underlines the major achievements of the last financial year, but also brightens the challenges and possibilities for the years to come.
The responsibility of preparing this report is of the Chief Economic Advisor of the Ministry of Finance, who prepare it based on various economic data and policy analysis. Overall, this document plays the role of a guide to the government and the public, which gives direction to future economic plans.
Importance and purpose of economic survey
The objective of the Economic Survey is not only to analyze the economic achievements and challenges of the last year, but also to prepare the possibilities and policy direction for the coming time.
The government conducts intensive research on various sectors of the country’s economy, such as manufacturing, agriculture, service and exports through the Economic Survey and presents the possibilities of improving these areas. This includes economic data as well as comprehensive policy ideas and field-wise analysis, indicating this document of comprehensive economic direction.
Often, the Economic Survey is seen as a policy guideline for the upcoming general budget, although implementing the recommendations given in it is not mandatory for the government. In this survey, the government identifies the major economic challenges and opportunities on which development can be intensified by focusing.
Economic Survey: Tradition to introduce in two parts
After 2015, the tradition of dividing the Economic Survey into two parts began. The first part gives information about the current status of the country’s economy, the financial status of the government and the fiscal trend and it is released just before the general budget. The second part is introduced in July or August, which consists of major economic figures. This change came into force in February 2017, when it was decided to present the budget every year in the first week of February. Now the budget is introduced in Parliament on 1 February.
Economic Survey: When and where to see?
The Economic Survey is presented a day before the budget every year. It will be introduced on 31 January, Friday in 2025. This can be seen on Live Parliament TV and PIB India Channels. Also, the Finance Ministry’s Facebook page and their official X handle (@Finminindia) will also be updated. After the survey is released, it can be downloaded from the India Budget website. The previous Economic Survey was introduced by Nirmala Sitharaman on 22 July 2024 for 2023-24.