Economic Survey 2024: Finance Minister Nirmala Sitharaman will present the Union Budget 2024 on July 23. The Monsoon Session begins on Monday and will have 19 sittings till 12 August, when the government is expected to present six bills. FM Sitharaman will also table the Economic Survey in Parliament on July 22
The Economic Survey is tabled a day before the budget, which Union Finance Minister Nirmala Sitharaman will present on Tuesday (23 July, 2024).
The Economic Survey, comprising Volume I, Volume II, and a statistical appendix, is released annually by the Economics Division of the Department of Economic Affairs under the Finance Ministry. It precedes the Union Budget presentation and comprehensively reviews the Indian economy's performance in the preceding financial year.
History: Initially presented alongside the Union Budget from 1950-51 to 1964, it has since been separated and presented before the Budget.
Preparation: The survey is compiled under the guidance of the Chief Economic Adviser (CEA).
Presentation: The Economic Survey is presented in Parliament by the Finance Minister of India.
The document, tabled in both Houses of the Parliament, reviews economic developments, informs budget priorities for the upcoming year, and highlights sectors needing emphasis. It reviews the developments that took place in the Indian economy over the past financial year.
This comprehensive document is a critical precursor to the annual budgetary process, offering insights into India's economic trajectory and policy priorities.
Nirmala Sitharaman is poised to deliver her seventh consecutive Union Budget, making her the first Finance Minister to achieve this milestone, surpassing Morarji Desai's record of six successive budgets. Similar to recent budgets, Budget 2024 will be presented paperless. An Interim Union Budget 2024 was previously presented on February 1, owing to upcoming general elections in the country.
