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The Economic Survey is a comprehensive annual report that analyzes the performance of the Indian economy over the past year and provides insights into its prospects. It is usually presented by the Chief Economic Adviser (CEA) before the federal budget and provides important context for the government’s financial plans.
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However, India will not announce its complete budget on February 1, 2024. Instead, Finance Minister Nirmala Sitharaman will present an interim budget, also known as a vote of account.
Why won’t there be an economic survey on January 31?
On February 1, 2024, Finance Minister Sitharaman will present an interim budget instead of a complete budget. Therefore, India will not release this year’s (2024) Economic Survey on January 31, but there will be an alternative report.
Reasons for not conducting means test:
Election year: 2024 is an election year in India. The usual economic survey – a document that analyzes the past year’s performance and future prospects – is likely to become politicized due to the potential for a change of government after the election. This could disrupt the smooth running of the regular budget process, which usually follows a survey report.
Although the official economic survey may not be released this year due to the electoral backdrop, the India Economic Review provides valuable insights into the country’s economic trajectory and prospects. The report, prepared by the office of CEA V Anantha Nageswaran, provides insights into the economic outlook in the coming years.
Indian Economy – Review
Instead of releasing an economic survey, the government released a report titled “Indian Economy – Review”. This paper analyzes the Indian economy over the past decade and provides insights into its prospects. However, it was clearly mentioned that the report will not replace the official economic survey, which is expected to be submitted after the general election and the formation of a new government.
Ministry of Finance @FinMinIndia Published “Indian Economy – Review”. The review consists of two chapters that assess the state of the Indian economy and its course over the past decade and provide a brief overview of the economic prospects for the coming years. … pic.twitter.com/0RDPiW3f5h
— Ministry of Finance (@FinMinIndia) January 29, 2024
Indian Economic Key Points – A Review
Check out some of the key points in the comments;
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Justin, a prolific blog writer and tech aficionado, holds a Bachelor's degree in Computer Science. Armed with a deep understanding of the digital realm, Justin's journey unfolds through the lens of technology and creative expression.With a B.Tech in Computer Science, Justin navigates the ever-evolving landscape of coding languages and emerging technologies. His blogs seamlessly blend the technical intricacies of the digital world with a touch of creativity, offering readers a unique and insightful perspective.