New Delhi: The Central government will today release the Economic Survey for 2022-23, marking the beginning of the Budget session of the Parliament. The survey will present a picture of the economic situation of the country during the period.
The Economic Survey is prepared by Chief Economic Adviser V. Anantha Nageswaran and will be tabled in Parliament by Finance Minister Nirmala Sitharaman, reported IANS.
It will be presented soon after President Droupadi Murmu's address to both houses of Parliament.
The Economic Survey is presented in Parliament every year, a day before the announcement of the Union Budget. This will mark the beginning of the Budget session of Parliament.
The Budget will be presented on Wednesday, February 1.
According to IANS, the Economic Survey gives a detailed account of the country's economic performance during the fiscal gone by and provides key data on macroeconomic indicators like inflation, foreign exchange reserves and the economic growth rate scenario.
Apart from this, it also gives a status report on significant sectors like infrastructure, energy, financial institutions, and agriculture as well as industry. The document sets the foundation of an economic roadmap highlighting the way forward to combat the challenges faced by the economy.
The Chief Economic Adviser briefs the media about the key highlights of the Economic Survey after it is tabled in Parliament.
Last Full Budget Of Modi 2.0
The last full Budget of the second term of the Narendra Modi-led government will be presented in Parliament on Wednesday, February 1. The Budget session of the Parliament will take place over 27 sittings, with two parts - the first from January 31 to February 14 and the second from March 12 to April 6.
Finance Minister Nirmala Sitharaman will present the final full-fledged Union Budget of the Modi government before the 2024 Lok Sabha elections on Wednesday. President Droupadi Murmu will deliver her maiden speech to the joint session of both Houses of Parliament, focusing on the government's accomplishments and key priorities.
This will be a challenging Budget as expectations would be high due to rising inflation and global economic uncertainty.
With nine assembly polls this year and the General Election next year, Finance Minister Nirmala Sitharaman will have to strike a fine balance between populism and fiscal prudence. Many feel that the Modi Cabinet will steer clear of populist schemes as it has shown its opposition to the 'revadi (freebie) culture'.
An analysis of the last five pre-poll Budgets in India shows that the government has tried to strike a balance between fiscal prudence and populism. The pre-poll Budgets are often seen as a tool for the ruling party to gain electoral support.