What Is Economic Survey In India?

The Economic Survey would be presented by Union Finance Minister, Arun Jaitley ahead of the Union Budget 2016-17.

The Economic survey is a complete picture on the economy provided by the government and is announced in the parliament.

It is generally prepared by Department of Economic Affairs with the Chief Economic Advisor, Ministry Officials and the FM himself getting involved with the final document.

The Economic Survey will throw light on where the economy is headed and areas of concern. The economic survey for 2016, may throw light on inflation and where it is headed. It may also talk on the agriculture sector and industry.

The government may also throw light on economic growth in the country and where we are headed. One of the most important data points that the government would need to highlight is the Gross Domestic product or the GDP?

Investors, economists, analysts, commentators and journalists would eagerly look for the figure. Different set of institutions have projected a different set of GDP range.

A few economists have voiced their concern on the new methodology of GDP calculation. They opine that while the GDP numbers are robust industrial growth still remains weak.

It will be interesting to see what is projected in the numbers by the Economic Survey of India. The survey is also likely to throw light on challenges and prospects.

It may also talk of putting investments back on track and areas of concern. This time it would be interesting to see, if we have anything pertaining to non performing assets of banks.

Government, the Reserve Bank of India and the banks themselves are trying to grapple with problems relating to NPAs, which should find a mention in the Economic Survey of 2016. One would have to wait and see what the commentary would be like.

Of course, as far as bank re-capitalization is concerned the government would throw more light in the Union Budget 2016.

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