INSUBCONTINENT EXCLUSIVE:
Finance Minister Nirmala Sitharaman (Photo: PTI)4 min read Last Updated : Jul 22 2024 | 10:20 AM IST
As India readies for the
the full survey and tables an Interim Budget in February
After the elections are over and a new government is formed, the newly elected Finance Minister presents the comprehensive Economic Survey
continued 1964, after which it was de-linked from the Budget and since then presented earlier.
What is the Economic Survey?
Economic
thereby performing as a key bedrock for providing an outlook for the upcoming financial year
It also reveals the developments on the external sector and employment trend fronts, which play a key role in providing policy
recommendations that often include reforms needed to address current economic challenges and enhance long-term growth prospects.
The
survey further puts Indian economic performance into a global context, while revealing the importance of global trends on domestic
significant?
The Economic Survey serves as a foundation for budgetary decisions by providing essential data for shaping budget proposals
It aligns fiscal policies with economic conditions and long-term goals
The survey's insights often guide policy priorities, tax reforms, spending allocations, and initiatives aimed at fostering economic growth
Russia-Ukraine conflict, and inflation, returning to the pre-pandemic growth trajectory.
On the growth front, the country seems to be
In July this year, the International Monetary Fund (IMF) adjusted its growth forecast for India in 2024-25 from 6.8 per cent to 7 per cent,
citing improved private consumption, particularly in rural areas, despite challenging global and domestic economic conditions
pre-pandemic period.
The upcoming survey is anticipated to evaluate the extent of economic recovery and assess India's growth potential
It is expected to outline future scenarios and propose policy solutions
Economists suggest the survey might address key questions such as strategies to boost manufacturing growth and maintain rapid growth amidst
sluggish global growth and trade.
Economic Survey FY24: Check the timing
Union Finance Minister Nirmala Sitharaman will present the
Economic Survey in Parliament on Monday, July 22, 2024, a day before the Budget presentation
The document is expected to be tabled at around 1.00 pm, with Chief Economic Advisor V Anantha Nageswaran scheduled to hold a press
conference at 2.30 pm.First Published: Jul 22 2024 | 10:16 AMIST
