Economic research 2024: The Economic Survey 2024 will be released on July 22, 2024, a day before the presentation of the Union Budget 2024. Finance Minister Nirmala Sitharaman will table the survey in Parliament on the first day of the monsoon session.

Economic research 2024 Publication time

The Economic Survey 2024 will be discussed in the Lok Sabha on July 22 at around 1 p.m.

The annual document will be presented in the Rajya Sabha at 2 p.m.

The press conference will take place around 2:30 p.m.

What is the Economic Survey 2024?

The Economic Survey of India is an annual document published by the government. Its primary purpose is to assess the state of the economy in the previous year and provide insight into the short to medium term outlook.

You can think of it as a detailed report on the Indian economy, which is presented to Parliament for consideration before going into the details of the national budget.

Here is an overview of what Economic Survey is;

• Comprehensive Analysis: Provides a detailed overview of the country’s economic performance over the past fiscal year, including an analysis of various sectors such as agriculture, industry and services.
• Statistics: Contains a wealth of statistics related to economic parameters such as GDP growth, inflation, employment, budget deficit and more.
• Policy recommendations: Proposes policy measures to address economic challenges and foster growth. These recommendations are often considered when formulating the Union budget.
• Government Program Evaluation: Evaluate the effectiveness of government programs and initiatives.

Why is it important?

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• Policy Guidelines: Provides policymakers with insights and recommendations relevant to budgetary decisions and economic policy formulation.
• Transparency and Accountability: Promotes transparency by presenting an objective analysis of the economy, making the government accountable for its economic policies.
• Stakeholder awareness: informs various stakeholders, including investors, businesses and the general public, about economic conditions and prospects.
• Benchmarking: serves as a benchmark to compare the current economic situation with previous years and to set goals for the future.

Who prepares an economic study?

The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs (DEA) within the Union finance ministry, under the overall guidance of the CEA. The final version of the document is reviewed by the Finance Secretary and finally approved by the Finance Minister.

What information does it provide?

The Economic Survey is divided into three parts. The first and most important part provides an overview and the CEA perspective on key economic issues, and provides insight into the government’s position on the country’s financial situation.

The second part contains data and figures on various sectors of the economy, provided by their respective departments and ministries.

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The third part covers, among other things, the following macroeconomic statistics: national income, production, employment, inflation, trade balance and export-import trade.

In the past, the Economic Survey has gone beyond numbers and data to highlight important issues, such as the impact of climate change and the gender gap on the overall economy. For example, the 2018-19 Economic Survey was coloured pink to emphasise the need for gender-neutral policies.

• Policy Guidelines: Provides policymakers with insights and recommendations relevant to budgetary decisions and economic policy formulation.
• Transparency and Accountability: Promotes transparency by presenting an objective analysis of the economy, making the government accountable for its economic policies.
• Stakeholder awareness: informs various stakeholders, including investors, businesses and the general public, about economic conditions and prospects.
• Benchmarking: serves as a benchmark to compare the current economic situation with previous years and to set goals for the future.

Who prepares an economic study?

The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs (DEA) within the Union finance ministry, under the overall guidance of the CEA. The final version of the document is reviewed by the Finance Secretary and finally approved by the Finance Minister.

What information does it provide?

The Economic Survey is divided into three parts. The first and most important part provides an overview and the CEA perspective on key economic issues, and provides insight into the government’s position on the country’s financial situation.

The second part contains data and figures on various sectors of the economy, provided by their respective departments and ministries.

The third part covers, among other things, the following macroeconomic statistics: national income, production, employment, inflation, trade balance and export-import trade.

In the past, the Economic Survey has gone beyond numbers and data to highlight important issues, such as the impact of climate change and the gender gap on the overall economy. For example, the 2018-19 Economic Survey was coloured pink to emphasise the need for gender-neutral policies.