This Article is From Jan 29, 2021

Budget 2021: Economic Survey To Be Presented Today

Union Budget 2021-22: The Economic Survey is expected to dwell on progress made by Indian economy in the previous year and present forecasts for the year ahead, in light of the coronavirus pandemic

Budget 2021: Economic Survey To Be Presented Today

The Economic Survey is authored by Chief Economic Adviser Krishnamurthy Subramanian

Finance minister Nirmala Sitharaman will present the Economic Survey 2020-21 in Parliament on Friday, January 29, at the start of the Budget Session. The Budget will be presented by the Finance Minister on February 1. The Economic Survey comes a day before the Budget, as per tradition, but has been re-scheduled this year as the Budget is on Monday.

The Economic Survey is expected to dwell on the progress made by the Indian economy in the previous year and also present forecasts on the year ahead, in light of the fact that novel coronavirus pandemic-triggered lockdown battered the economy in the year 2020.

India's economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, the World Bank said recently. However, the World Bank expects economic growth to recover to 5.4 per cent in 2021.

The Economic Survey is authored by Chief Economic Adviser (CEA) Krishnamurthy Subramanian, along with his team of financial experts. The economic survey this year will be unique as it would be paperless, just like the Budget. The Chief Economic Adviser KV Subramanian is expected to address a press conference after presentation of the Economic Survey.

The practice of presenting the Economic Survey dates back to 1950-51. Initially, the Finance Ministry used to present the Economic Survey along with the Budget. But post-1964, the ministry began to release the survey on the preceding day.

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