A flagship annual document of the Ministry of Finance, Government of India, the Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programmes and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session. The analysis covers all major economic and social sectors and is considered the most credible summary data source, as well as the document reflecting official position on major public policies of the government of the day. Besides the analysis, the Economic Survey also presents major macroeconomic and sectoral data for the economy as a whole in one place. It thus provides the backdrop for the presentation of the Union Budget, the principal policy statement of the Central Government.
Apart from an overview chapter on the state of the economy covering the preceding about 18 months, the Economic Survey has separate chapters on the underlying policy framework to address the domestic and international developments of consequence to the India economy in the short-run, developments in public finance, external trade and balance of payments, financial sector, prices and monetary policy trends, agriculture, industry and social sectors. The Economic Survey is tabled in the Parliament a day or two prior to the Budget. There is therefore considerable sense of anticipation and demand for the document by the policy makers, private analysts and investors, academic community, civil society, media, the international stakeholders of Indias economy and the civil servants at the national and state-levels.
About the Author
The Ministry of Finance is an important ministry within the Government of India. It concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances and the Union Budget.