New Delhi, January 29: The Economic Survey 2020-21 will be presented by Finance Minister Nirmala Sitharaman in the Parliament today. Generally, the Economic Survey is presented a day before the Budget, but this year as the Budget follows the weekend, the Economic Survey will be presented earlier than usual.
Economic Survey analyses the overall performance of the economy during the year. It thus helps in providing a better understanding of the Union Budget. 2020 growth was affected by coronavirus pandemic.
The Budget session of the Parliament will begin today. President Ram Nath Kovind will address a joint sitting of both houses. In the address, the President usually outlines the government's agenda, achievements and plan for the coming year. Budget Session of Parliament, Day 1 Live Streaming on DD News: Watch President Ram Nath Kovind's Address and Economic Survey 2020-2021.
What is the Economic Survey?
The Economic survey gives a detailed account of the state of the economy, prospects and the policy challenges. It carries sectoral overviews and comments on reform measures that are required.
It reviews the economic development in India over the past financial year by giving detailed statistical data of all the sectors-industrial, agricultural, manufacturing among others.
The survey’s outlook serves as a marker about future policy moves. The first Economic Survey in India was presented in the year 1950-51.
The Economic Survey has two parts--one, one consists of the economic challenges that the country is facing and the second is the review of the year gone by.
FM Nirmala Sitharam will present the Union Budget on February 1, 2021. For the first time in history due to the coronavirus pandemic, the Union Budget will be paperless. Therefore all the documents and the Economic Survey would be made available online soon after the authenticated copies are laid on the Table of the House.
(The above story first appeared on LatestLY on Jan 29, 2021 10:01 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).