India’s Union Budget for 2024 is set to be revealed on February 1st, but this year there will be no Economic Survey presented a day prior. The Economic Survey is a report that provides an assessment of the Indian economy for the previous year and compares government policies and their impact. It has been traditionally released before the budget presentation since 1964.
The Economic Survey is important because it examines the progress of the Indian economy over the past year, presents government policy initiatives, and outlines growth expectations. However, due to upcoming Lok Sabha elections in April and May of 2024, the budget presented will be an interim budget rather than a final one.
Instead of the Economic Survey, the government plans to release a report called “Indian Economy–A Review,” which consolidates India’s progress over the past decade and provides a preview of future prospects. This report will be presented a day before the budget release and is prepared by the office of CEA V Anantha Nageswaran.
In conclusion, while there won’t be an Economic Survey this time, India will have an alternative report to provide insights into its economic performance.
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