Budget 2023: Key Things You Need To Know About Economic Survey

The Economic Survey 2022-23 is set to be released on Tuesday, a day before the Budget 2023. The Survey, which has been formulated under the supervision of the government’s chief economic advisor (CEA) V Anantha Nageswaram, will highlight the state of the economy in the current financial year 2022-23.

The pre-Budget Economic Survey will be tabled by Finance Minister Nirmala Sitharaman in Parliament. Later, a press conference will be held by Chief Economic Advisor along with other senior officials of the finance minister. The press conference is streamed live on social media handles, including YouTube, of ‘PIB India’.

Also Read: Budget 2023-24: Here Are 5 Key Things To Watch Out For In This Budget

The Survey can be downloaded from ‘www.indiabudget.gov.in/economicsurvey‘ after its presentation in Parliament.

The Economic Survey, which is usually released a day before the Budget, comes in two parts ‘Part A’ and ‘Part B’. Part A deals with a broad review of the country’s economy and the major economic developments in the year. Part B gives details about specific issues like social security, poverty, education, healthcare, human development, and climate.

The Survey provides insights into the country’s GDP growth outlook, current inflation rate and projection, forex reserves, and trade deficits, among others.

The Economic Survey has a central theme every year. The theme of the Economic Survey 2021-22, which was presented by the then principal economic advisor, Sanjeev Sanyal, was the ‘Agile Approach’.

India’s first Economic Survey of India was presented in 1950-51. Till 1964, the document was presented along with the Union Budget. Later, it was separated and since then presented before the Budget announcement. Last year, the Economic Survey 2021-22 had said India’s economy is expected to grow 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations.

Last year, the Economic Survey had predicted economic growth of 9.2 per cent in real terms in 2021-22, while GDP growth was pegged at 8-8.5 per cent for 2022-23.

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