BUSINESS
The presentation of the Economic Survey 2023 took place on Monday, just one day before the announcement of the Union Budget 2023.
The Economic Survey 2022-2023 has been released on Tuesday with several projections made for the Union Budget 2023, which will be announced by Finance Minister Nirmala Sitharaman on February 1 in the Parliament.
The Economic Survey 2022 has drawn several conclusions for the financial year 2022-23, while also making several predictions for the upcoming year and hinting at what the Union Budget 2023 could have in store for the general public.
The economic survey, which is released every year just a day before the budget is announced for the next financial year, has forecast India’s economy to grow at 6-6.8 percent for the next fiscal year starting April 1, lower than the 7 percent (in real terms) projected for the current financial year ending March 2023.
The Economic Survey has projected a baseline GDP growth of 6.5 percent in real terms for the next financial year 2023-24. The survey document said the projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI.
How is Economic Survey linked to Union Budget 2023?
Union Finance Minister Nirmala Sitharaman today tabled the Economic Survey for 2022-23 in the Parliament, a day ahead of the national Budget for the next financial year. There is a strong relationship between the Economic Survey and the Union Budget, which is why they have released just the gap of one day.
The Economic Survey provides an overall assessment of the performance of the economy in the said financial year, as well as makes projections for the upcoming financial year. It gives background knowledge of the financial developments in the country and has major links with the budget.
The Economic Survey of India was de-linked with the Union Budget in the year 1964, and it was decided that it will be presented one day in advance of the budget. It is deemed a crucial document as it gives an assessment of how the Budget of the current financial year performed, as well as giving a hint as to what will come in the future.
READ | Budget 2023: Who prepares the Economic Survey of India and why?
Jaguar reveals new brand logo, identity ahead of EV debut
Playing with Fire: Will Putin risk nuclear Armageddon before Trump takes office?
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
Ranjit Kumar Gupta: Pioneering communication in a connected world
Big move by Paytm, now users can make UPI payments in these foreign countries
'Chernobyl-like scene in Noida': Viral photo shows city's toxic sky
Manipur CM N Biren Singh breaks silence on fresh violence in state: 'Will not rest until...'
'Never going to...': Wipro chairman Rishad Premji says THIS big thing about work-life balance
Sarfaraz Khan's bizarre fielding leaves Virat Kohli, Rishabh Pant in splits, watch viral video
BIG move by Gautam Adani: Adani Group to invest Rs 2953844250000 to set up...
Meet richest footballer of 2024, not Cristiano Ronaldo, Lionel Messi, his net worth is…
Rs 200, Rs 500 in air! Guests climbs JCB to shower Rs 20 lakh at UP wedding procession, WATCH here
Pat Cummins's sarcastic reply to which Indian player can slot into Australia team, says...
Good news for Vaishno Devi pilgrims! New, high-tech service soon, cheaper than helicopter; details
'With Pakistan, the main issue...': India’s Ambassador at United Nations makes BIG statement
MoS Railways' big update on Kashmir to Delhi Vande Bharat Express, says PM Modi will...
How did Navsari's Dastur family get Tata surname? Know story behind Ratan Tata's family name
Upset over Donald Trump's win? You can move to THIS village offering USD 1 homes to Americans
Did Kriti Sanon just confirm her relationship with Kabir Bahia? Actress’ new post has fans convinced
Delhi air pollution: Government orders 50% of its employees to work from home
Shillong Teer Results TODAY November 20, 2024 Live Updates: Check lucky winning numbers
Delhi air pollution: Toxic smog chokes Delhi-NCR; AQI at 422
FPI inflows to bounce back India expected to attract USD 20-25 billion in FY25 Bank of Baroda
When AR Rahman talked about making adjustments after marrying Saira Banu: ‘I lost my…’
Bank Holiday November 2024: All banks to remain closed in THIS state today here's why
Bypolls 2024: 15 seats across Uttar Pradesh, Punjab, Kerala, Uttarakhand to vote today
Donald Trump attends launch of Elon Musk owned SpaceX’s Starship rocket in Texas
IAS officer's wife who 'eloped' with a gangster returns home; what happens next is bone-chilling
BGT: Jasprit Bumrah eyes Kapil Dev's elite record during India vs Australia Test series
Jharkhand Assembly Election 2024: Final phase of voting today, NDA, INDIA to fight for 38 seats
AR Rahman breaks silence on his separation from wife Saira Banu: 'Even the throne of God might...'
Meet India’s youngest female IAS officer, who cracked UPSC exam by self-study at 22, secured AIR...
'Kya baat hai': RJ Lucky mimics celebrities' voices to sing 'Mere Dhola 3.0', internet reacts, WATCH
India withdraws from Blind T20 World Cup in Pakistan due to...
‘Aiyyashi ka adda…’: Salman Khan’s farmhouse doesn’t belong to him but…
India beat Japan 2-0, to face China in final of Women's Asian Champions Trophy hockey
A gamble with radiation: The uncalculated risks of prolonged spaceflight
Roger Federer pens emotional tribute to Rafael Nadal ahead of his retirement
Dead man's eye goes missing at Patna hospital, doctors allege 'rats ate it off'
FIR against stand-up comic Yash Rathi for using derogatory words in his show at IIT Bhilai
How Zeenat Aman was instrumental in making Mithun Chakraborty a Bollywood hero to watch out for
Deepika Padukone, Ranveer Singh lease a new Mumbai apartment; monthly rent is whopping Rs...
Who is Mojtaba Khamenei, likely to take over as Iran's Supreme Leader?
Day before Maharashtra voting, BJP’s Vinod Tawde accused of distributing cash, poll body files case
When will ICC Champions Trophy 2025 schedule be announced? Know latest update here
BIG update on gold loans, RBI to soon bring this option to reduce lending gaps, it is...
Effective E-Commerce Promotion Strategies to Drive More Sales Revenue
Meet Shivraj, Aishwarya Rai's bodyguard, who earns more than CEOs, his whopping salary is...
Mahesh Babu subtly backs Nayanthara, Vignesh Shivan amid feud with Dhanush; here's how
Vladimir Putin to visit India says Russian government's spokesperson, official dates to be...
Vladimir Putin's BIG decision on nuclear weapons, threatens to use nukes against West if...