On Tuesday, Economic Survey to Be Presented by Nirmala Sitharaman Ahead of Union Budget 2023

On Tuesday, the day before the Budget 2023, the Economic Survey 2022–23 will be made public. The Survey, which was created under the direction of the govt’s chief economic advisor (CEA), V Anantha Nageswaram, would emphasize the financial position of the business in the current fiscal year 2022–2023.

Nirmala Sitharaman, the minister of finance, will present the pre-Budget Economics Survey to the House of Representatives. Later, the chief economic advisor and other top finance ministry personnel will organize a press conference. On ‘PIB India’s’ social media accounts, including YouTube, the news conference is aired live.

Accessibility and Division of Economic Survey of India

After being presented in Parliament, the Survey can be accessed from www.indiabudget.gov.in/economicsurvey.

The Economic Survey is divided into two sections, Part A and Part B, and is typically made public on the day before the Budget. A general overview of the nation’s economy as well as the year’s most significant economic happenings are covered in Part A. Details on specific concerns including human development, healthcare, education, poverty, social security, and the Climate are included in Part B.

The survey offers information on the country’s projected GDP growth, trade imbalances, currency reserves, and projected inflation rate among other things.

Theme

Year after year, the Economic Survey has a main theme. The “Agile Approach” was the theme of the 2021–22 Economic Survey, which was delivered by Sanjeev Sanyal, who was the CEA or chief economic advisor.

Sneek Peak Into Past

In 1950–1951, India’s first Economic Survey of Hindustan was released. The paper was released alongside the Union Budget until 1964. It was later divided up and released ahead of the Budget announcement. According to the Economic Survey 2021–22 published last year, India’s economy would expand by 8–8.5% in the fiscal year that starts on April 1 and will be well-positioned to handle future problems thanks to extensive vaccination supply-side reforms, coverage, and regulatory liberalization.

The Economic Survey had previously forecast growth in the economy at a rate of 9.2% in real terms in 2021–2022 and GDP growth of 8–8.5% in 2022–2023.