Economic Survey

An economic survey is the annual report of the Government’s financial department. This study will discuss the economic survey of the Government. It also covers the economic survey of the year 2021 and tells about its importance. There will also be discussed the themes of the economic survey. The finance department will present the economic survey every year in the Parliament. It was published before “Union Budget”. This economic survey is developed under “the chief economic advisor”. This economic survey is the snapshot of the financial development of the last year.        

Economic Survey

An economic survey is very important to understand the financial condition of the previous year of the country. The survey is a snapshot of the financial development, and it is also known as the annual report of the finance department. This survey is conducted by the people of the Ministry of finance and also developed under the enlightened “chief economic advisor”. This survey was first done in 1950-1951 in terms of the union budget. This helps to understand the condition of the finance of the country and also how the capitals are used in which department.       

Economic Survey 2021

The minister of “Finance and corporate affairs” in India is Smt. Nirmala Sitharaman. She has presented the economic survey of 2021-2022 are like- 

• The Situation of the Economy

The estimated economy of India will increase by 9.2% in real terms in 2021-2022. GDP will be increased by 8 to 8.5% in 2022-2023. This year the Government invested capital in the private and corporate sectors, and it has been beneficial for the country for revival. The latest forecast of the “World bank” and also “Asian development Bank” shows that the GDP growth will be between 8.7% and 7.5% in 2022-2023. In 202, the “Gross fixed capital formation (GFCF)” has grown by 15%.

• Fiscal Developments

The receipts of the budget estimate from the central Government grew by 67.2%. Tax revenue has grown by 50% compared to the previous condition of the pandemic situation. 

• External Sectors

The export and import of merchandise has decreased compared to the previous condition of the COVID-19. The net capital of India will grow higher by US$65.6 billion in 2021-2022. 

• Sustainable Development and Climate Change

According to the economic survey, it has proved that India has the 10th largest forest. India has grown its forest area from 2010 to 2022. In 2021, the “Plastic waste management amendment rules” aims for not a single use of plastic in 2022.

• Social Infrastructure

157.94 crores vaccines are given to the people of India. 91.39 vaccines of first doses, and 66.05 crores vaccines are second doses.    

Economic Survey Presentation

Economic survey is presented by the Ministry of finance, the Government of India. Now, the minister of the financial department and corporate affairs is Smt. Nirmala Sitharaman. The economic survey was conducted under the “chief economic advisor” named Krishnamurthy Subramanian. This economic survey was published before the Union budget. This survey is presented in the Parliament. This year in 2022, minister Nirmala Sitharaman published the economic survey of the budget on 1st February 2022.   

Importance of Economic Survey

The economic survey is very important as it shows the budget of the economic situations of the country. It also helps to understand why the economy is speed-up and also reduced. The economic survey was first presented in 1950-1951 in terms of the union budget. The economic survey helps the people of this country to know about the economic condition of the country. It also helps the people to understand the budget of the things and sectors of the country. The economic survey helps the Government to set up new budgets for different things and sectors.   

Themes of Economic Survey

The economic survey of the year 2019-2020 covers some topics, and those were the theme of that year. Those topics are “fiscal developments, monetary management, inflation, and external sectors”, etc. The theme of the year 2020-2021 was “saving lives and livelihoods”. The economic survey of 2021 said that the economic budget decreased by 7.7%. The theme of the economic survey of the year 2022 is “the Agile approach”. This year the economic survey highlighted the usage of “satellite and geospatial”, and it shows the infrastructural development of the country.   

Information of Study in Economic survey

The people of the society know some topics from the economic survey. Those are-

1. The people know about the economic outlook and also the challenges of policies.
2. People know about the fiscal development of the country.
3. The public knows the state of the country as well as the economic budget.
4. The people know the prices of the things and inflation. 
5. This economic survey helps people to understand monetary management. 

Conclusion

This discussion is all about the economic survey that helps the people to understand the economic condition of the country. The ‘economic survey helps the country as well as the minister to set a new budget according to the benefits of the country. The survey is conducted under the instruction of the “chief economic advisor”. The finance minister presents the survey in Parliament. It helps the country to grow. This survey helps the country to make budgets for different sectors. This survey helps people to get information about different things about the country.