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Photo: Sansad tv Finance Minister Nirmala Sitharaman presenting the report of Economic Survey 2024-25 on Friday in Parliament.

A day before the budget, Finance Minister Nirmala Sitharaman has presented the Economic Survey 2024-25 in Parliament on Friday. The Economic Survey is an annual document presented by the government to review the status of the economy before the Union Budget. This document also offers observation of short -term to moderate periods of the economy. Economic Survey is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Economic Survey under the supervision of the Chief Economic Advisor.

First economic survey

According to PTI, the first economic survey came into existence in 1950–51, when it was part of the budget documents. In the 1960s it was separated from the Union Budget and was presented a day before the budget was presented. The Union Budget of 2025-26 will be presented by the Finance Minister on Saturday. The survey has an outline of development in the economy and various sectors, besides providing an approach for the next financial year. Often surveys bring new and unique ideas to face poverty alleviation, climate change, education, infrastructure development and financial sector challenges.

India’s GDP estimate

According to an estimate by the National Statistics Office, India’s GDP is expected to grow at 6.4 percent in the current financial year due to weak manufacturing and investment, which is the lowest level of 4 years. This is an estimated 6.5–7 percent in last year’s Economic Survey and less than the Reserve Bank of India’s 6.6 percent. According to the survey, geopolitical risk remains high due to the ongoing conflicts and stresses, creating significant risks to the global economic approach.

Economic survey highlights agricultural and industrial production, infrastructure, employment, currency supply, prices, imports, exports and foreign exchange reserves etc. At the same time, factors affecting the economy and their impact on the government’s fiscal strategy.

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