Union Budget 2024: FM Nirmala Sitharaman tables Economic Survey 2024, know what it is

A day before Budget 2024, Union Finance Minister Nirmala Sitharaman tables the Economic Survey in Lok Sabha. The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance.

What is the Economic Survey of India?

The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance. The Economic Survey of India is prepared under the supervision of the Chief Economic Advisor of India, with the first economic survey presented for the year 1950-51. While the document is non-binding, it is considered significant in view of the Union Budget. 

The document covers several important aspects of the Indian economy, including fiscal developments, monetary management, and external sectors. In short, it covers how the country made profits and losses in several sectors, and how it has benefited the economy.

It has a strong link with the Budget 2023 since it is presented just a day before Finance Minister Nirmala Sitharaman will present the budget for the upcoming year. The Economic Survey of India will highlight the potential of the Indian economy in the future, and how several policies can prove to be beneficial.

Similar to the Union Budget, the Economic Survey of India is presented in the Parliament by the Finance Minister of India, Nirmala Sitharaman. The document will be presented one day before the announcement of the Budget, which is January 31.