Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ Economy / Budget 2024: No Economic Survey to be presented ahead of interim budget; here's why
BackBack

Budget 2024: No Economic Survey to be presented ahead of interim budget; here's why

Instead of the Economic Survey, a report titled 'Indian Economy–A Review' has been released, providing glimpses of the outlook for the economy.

Finance Minister Nirmala Sitharaman will present the Interim Budget 2024 on February 1. (Ayush Sharma)Premium
Finance Minister Nirmala Sitharaman will present the Interim Budget 2024 on February 1. (Ayush Sharma)

Finance Minister Nirmala Sitharaman will present the Interim Budget 2024 on February 1. Every year, a day before the presentation of the budget document, the central government presents an Economic Survey. However, the survey will not be presented on January 31.

Due to the general elections, the government will present an interim budget to manage necessary financial tasks. The full-fledged budget will be presented after the completion of the Lok Sabha elections and the formation of the new government. 

What is an Economic Survey?

It is a detailed document presented once a year before the annual financial statement. The document includes all the important developmental programmes of the central government. It also highlights the policy initiatives of the Union government.

Why the Economic Survey will not be presented ahead of Budget 2024?

As the full budget process will remain disrupted due to elections, the economic survey will not be presented on January 31. Instead, the Centre has released a report on India's journey for the past 10 years titled 'Indian Economy–A Review'. The report also shared glimpses of the outlook for the economy in the coming years. The report was prepared by the office of the Chief Economic Advisor (CEA) V Anantha Nageswaran.

“This is not the Economic Survey of India prepared by the Department of Economic Affairs. That will come before the full budget after the general elections. This review takes stock of the state of the Indian economy and its journey in the last ten years and offers a brief sketch of the outlook for the economy in the coming years," read the report titled Indian Economy–A Review'

It was mentioned in the report that it is not the Economic Survey of India. The survey will be presented after the general elections before the presentation of the full-fledged Budget.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 30 Jan 2024, 09:32 PM IST
Next Story footLogo
Recommended For You