What is Economic Survey in India?

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    Economic Survey is a annual document which is presented to both houses of Parliament during the Budget Session.
    Every year, economic survey will be presented shortly before the Union Budget of India.

    In India, this survey reviews the economic development in the country over the previous 12 months.

    It also summarizes the performance on major development programmes and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

    What is Economic Survey in India?

    The survey covers detailed macroeconomic performance of the country.

    This survey gives government an opportunity to come up with its economic agenda. The government also represents its issues and priorities.

    The survey covers the detailed statistical data which covers all aspects of the economy. The report provides an overview of the following issues:

    1. State of the Indian economy
    2. Challenges, policy responses, and medium-term outlook
    3. Fiscal policy and monetary management
    4. Financial intermediation and the role of markets
    5. External sector, balance of payments, and trade
    6. Agriculture, industrial development and services sector
    7. Energy, infrastructure, and communications
    8. Human development, climate change and public programmes
    9. India and the Global Economy

    Lastly, we can say that economic survey can be said as report card of the country which highlights the previous performance and areas where we need to focus.

    Economic survey comes up with the estimated GDP and Inflation data/rate and outlook for next year.

    This document would be useful for policymakers, economists, policy analysts, business practitioners, government agencies, students, researchers, the media, and all those interested in the development in the Indian economy.

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