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Indian Economic Survey 2024 Updates: Finance Minister Nirmala Sitharaman tabled the Economic Survey document in Parliament today. The Economic Survey is an exhaustive and detailed annual report analysing the performance of the Indian economy over the past year and detailing insights. The pre-budget document is typically presented by the Chief Economic Adviser (CEA).
Usually, the Economic Survey is tabled on January 31, a day before the Budget is presented in the parliament on February 1. However, owing to the 2024 Lok Sabha elections, the process was postponed and instead, a report titled "Indian Economy – A Review" was released.
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance.
The first economic survey reportedly came into existence in 1950-51, when it used to be a part of the budget documents. However, in the 1960s, the survey was separated from the Budget documents and presented a day before the Union Budget.
This year, the Economic Survey 2023-24 was presented in Lok Sabha at 12 pm and in Rajya Sabha around 2 pm.
Indian Economic Survey 2024: What to expect?
The Economy Survey document may give some idea about the tone and texture of the actual Budget for 2024-25, to be presented on Tuesday (Jul 23).
Every year, the Economic Survey is presented with a theme. Last year, the key theme of the Economic Survey was 'Recovery Complete' as India was looking to bounce back after the COVID-19 pandemic while manoeuvring the international economy in the backdrop of the Russia-Ukraine war.
In 2022, the central theme was 'Agile Approach' that focused on the country's economic response to COVID-19 pandemic.
This blog is now closed
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Jul 22, 2024 07:32 IST
Economic Survey 2024 Live: India must brace for 'likely vulnerabilities'
The Economic Survey has warned that as India's financial sector undergoes critical transformation, it must brace for likely vulnerabilities originating globally or locally.
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Jul 22, 2024 07:23 IST
Economic Survey 2024 Live: India must brace for 'likely vulnerabilities'
The Economic Survey has warned that as India's financial sector undergoes critical transformation, it must brace for likely vulnerabilities originating globally or locally.
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Jul 22, 2024 07:13 IST
Economic Survey 2024 Live: Eco Survey projects growth at 6.5-7%
India's economic survey has projected growth at 6.5-7.0 per cent in FY25, Reuters reported. This is notably, below the Reserve Bank of India's forecast of 7.2 per cent projected growth for the current financial year ending March 2025. Minister Nirmala Sitharaman in Parliament today said the outlook for India's financial sector “appears bright", PTI reported.
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Jul 22, 2024 06:56 IST
Economic Survey 2024 Live: FM Nirmala Sitharaman tables document in Lok Sabha
Union Finance Minister Nirmala Sitharaman says in Lok Sabha, "A lot of steps have been taken on Ease of Doing Business. Nearly 11 steps have been mentioned in the reply, but most importantly Decriminalisation of 63 offences and as a result of which companies today are able to carry on their functions without the worry of compliance. A central processing system has also been set up."
#WATCH | Economic Survey 2023-2024 tabled in Lok Sabha by Union Finance Minister Nirmala Sitharaman. pic.twitter.com/XxBVhgW4Lq
— ANI (@ANI) July 22, 2024
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Jul 22, 2024 06:39 IST
Indian Economic Survey 2024 LIVE: What are the four challenges for Indian economy
The four challenges listed by Chief Economic Advisor V Ananta Nageshwaran and his team in their “mini Economic Survey" includes-
- Impact of Global Economic Trends on India's Growth
- Balancing Energy Security, Transition to Renewables
- Rise of Artificial Intelligence
- Skilled Workforce, Good Education and Public Health
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Jul 22, 2024 06:38 IST
Indian Economic Survey 2024 LIVE: Challenges listed in mini 'Eco Survey'
The four challenges faced by Indian economy were listed by Chief Economic Advisor V Ananta Nageshwaran and his team in their “mini Economic Survey" ahead of the Interim Budget in January 2024. These could be addressed in the upcoming full Budget 2024, which Finance Minister Nirmala Sitharaman will announce on July 23, and the Economic Survey 2024, which is scheduled to be tabled in Parliament today, a day ahead of the Budget. We take a look at what these challenges mentioned in the document titled ‘The Indian Economy: A Review’ are.
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Jul 22, 2024 06:30 IST
Indian Economic Survey 2024 LIVE: Why is the Economic Survey significant?
Indian Economic Survey 2024 LIVE: The Economic Survey is the most comprehensive analysis of the economy that is conducted from within the Union government. It reviews the country's development over the past financial year and gives detailed statistical data across sectors such as agriculture, employment, exports, industries, and prices, among others. It gives a broad picture of the economy before the Budget and provides a guide for the next financial year on which sectors require attention and allocation. However, recommendations and assessment in the document are not binding on the Union Budget.
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Jul 22, 2024 06:24 IST
Indian Economic Survey 2024 LIVE: What does the Economic Survey document have?
Economic Survey 2024 LIVE: The Economic Survey serves a summary of the success and failures of major development programmes, tracks policy implementations and the country's economic performance. It also provides an outlook for the upcoming financial year. The document consists of two parts- Part A, which includes India's economic developments and challenges and a broad review of the economy; and Part B, which analyses the past financial year over specific topics such as social security, poverty, education, healthcare, human development, and climate.
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Jul 22, 2024 06:03 IST
Indian Economic Survey 2024 LIVE: State of the Indian Economy
In the latest monetary policy of the Reserve Bank of India (RBI), the central bank raised India's GDP forecast for the current year to 7.2 per cent from 7 per cent earlier. The strength of domestic demand has driven this change, as per RBI.
The International Monetary Fund (IMF), in its latest outlook, raised India's growth projections for 2024 from 6.8 per cent earlier to 7 per cent. Earlier the IMF had projected growth rate of 6.5 per cent for 2024, revising it to 6.8 per cent and now 7 per cent.
India continues to be the fastest-growing major economy.
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Jul 22, 2024 05:38 IST
Indian Economic Survey 2024 LIVE: Where to watch the Economic Survey?
The Economic Survey and its presentation will be broadcast live on Doordarshan, Sansad TV and their respective YouTube channels while the Press Information Bureau (PIB) India will live-stream it at 1 pm IST. The Economic Survey will be tabled on Monday (Jul 22) by Union finance minister Nirmala Sitharaman. Chief Economic Adviser Anantha Nageswaran will be holding a press conference after the survey is presented.