What is the Economic Survey?
All eyes will be on the key announcements and the government’s long-term economic roadmap for the remaining tenure of Modi 3.0. Prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and overseen by the Chief Economic Advisor, the Economic Survey document provides an overview of the economy and various indicators for 2024-25 (April-March) and some perspectives for the next fiscal year. The Economic Survey document may also provide insights into the actual Budget 2025-26, to be presented on Saturday.When was the Economic Survey introduced?
According to reports, the first Economic Survey came into existence in 1950-51. At that time, it used to be part of the budget documents. In the 1960s, it was separated from the budget documents and has been presented a day before the Union Budget since then.Previous Themes of the Economic Survey
The theme of the Economic Survey plays a significant role each year. In 2022, the theme of the Economic Survey was ‘Agile Approach’. It highlighted India’s economic response to the shock of the COVID-19 pandemic. Similarly, in 2023, its theme was ‘Recovery Complete’. In 2024, the Economic Survey focused on economic resilience.Nirmala Sitharaman to Create a New Record
Finance Minister Nirmala Sitharaman will set a record on February 1st for presenting the most consecutive Union Budgets. This will be Sitharaman’s 8th budget as Finance Minister, including six annual and two interim budgets. Nirmala Sitharaman has surpassed the record of former Prime Minister Morarji Desai, who presented five annual budgets and one interim budget between 1959 and 1964 as Finance Minister.Budget Session 2025 (Budget Session)
Parliament’s Budget Session will commence on January 31st and will conclude on April 4th as per the scheduled programme. The budget speech will outline the government’s fiscal policies, revenue and expenditure proposals, tax reforms, and other significant announcements.President Droupadi Murmu will address a joint sitting of both Houses of Parliament on January 31st. Parliament will have an inter-session recess from February 14th, and both Houses will resume their sittings on March 10th.
