The Economic Survey 2021 will tabled today, 29 January, during the Budget Session of the Parliament. The Union Budget 2021 will be tabled by Finance Minister Nirmala Sitharaman on 1 February.
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs (DEA) under the guidance of the CEA and is approved by the finance minister once it is prepared.
While the Economic Survey is usually presented a day prior to the Union Budget, it is being tabled earlier before the House this year as the day before Budget is a Sunday. The Survey will give an estimation of the progress the Indian economy made during the preceding 12-month period and will feature the details and outcomes of the schemes and policies implemented by the government during the year under review. It will also provide hints as to what is in store for the economy in the coming period.
Finance Minister Nirmala Sitharaman will be presenting the Economic Survey 2020-21 in the Parliament and post presentation, the chief economic adviser (CEA) KV Subramanian will address a press conference at 2.30 pm in Delhi.
First presented in 1950-51 in the Lok Sabha, it used to be presented along with the Union Budget. However, since 1964, the ministry started releasing the survey a day prior to the budget day.
Rating agencies expect the government to factor in a wider deficit for the coming year in order to give the economy a fiscal stimulus to emerge faster from a world riddled by the COVID-19 pandemic. The government's stance on the recommendations of the Fifteenth Finance Commission may also play a key factor in the fiscal calculations for 2021-22.
The Commission's report on the transfer of finances between the Centre and States for the next five years is expected to be tabled.
The presentation of the Economic survey can be viewed on Lok Sabha TV or on YouTube and Twitter for the Economic Survey. The CEA Subramanian press conference at 2.30 pm can be viewed through PIB YouTube, Doordarshan or Twitter. The latest live updates on the Economy Survey can also be accessed on Firstpost.
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