Union Budget 2025: All about Economic Survey and why it is presented

At the time of Independence, the Economic Survey was presented along with the Union Budget.

Economic Survey 2025 Latest News: The Union Budget 2025 is likely to be presented on February 1, 2025. Ahead of the Union Budget, the Ministry of Finance will also release the Economic Survey 2025. Tabled a day before the Union Budget 2025 in Parliament, the Economic Survey is a key document that outlines the roadmap for the Budget, provides insights into India’s economic health, and highlights the themes of the Centre’s financial planning. With budget preparations in full swing, here’s a look at what exactly the Economic Survey is, who presents it, the composition of the document, and why it is important:

What is Economic Survey?

In the simplest terms, the Economic Survey can be seen as a report card of the Indian economy, prepared by the Department of Economic Affairs. Chief Economic Advisor (CEA) V Anantha Nageswaran supervises the preparation of the Economic Survey. The report presents the state of the Indian economy not only for the current fiscal year but for previous years as well.

What are the key components of the Economic Survey?

The Economic Survey comprises of two sections – Part A and Part B. Usually, Part A lists out important economic developments of the current fiscal and overall review of India’s economic health and major pointers. On the other hand, the Part B of the Economic Survey consists of commentary on socio-economic issues such as education, poverty, climate, human development and social security.

What is the significance of the Economic Survey?

The significance of the Economic Survey lies in its comprehensive assessment of the economy. From the outlook on GDP to projections on forex reserves, trade deficit, and inflation, the Economic Survey includes critical numbers, making it a vital pre-Budget document. It is presented in both Houses of Parliament and outlines the focus areas of the Union Budget as well as the sectors that require more attention. This year, the theme of the Economic Survey is likely to center around deregulation.

What is the history of the Economic Survey?

At the time of Independence, the Economic Survey was presented along with the Union Budget. From 1950 to 1964, the Economic Survey was presented alongside the Union Budget. However, the Economic Survey became a separate entity after that, and it became a tradition to table the Economic Survey before the Union Budget.