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Economic Survey 2020-21: What to expect from Budget opener

The Economic Survey is a reflection of progress made by the Indian economy in the last 12 months. The survey will also give key projections about the growth in the current fiscal year and the next one starting April 2021. Here is all you need to know:

UPDATED: January 29, 2021 10:59 IST

The Economic Survey 2020-21 will be presented in the Budget session of the Parliament on Friday ahead of the Union Budget 2021 on Monday.

The survey is usually presented a day before the budget, but it will be revealed today as the day before the upcoming budget is a Sunday.

What is Economic Survey?

The Economic Survey is a reflection of progress made by the Indian economy in the last 12 months. The survey will also give key projections about the growth in the current fiscal year and the next one starting April 2021.

The Economic Survey is authored by the Chief Economic Adviser (CEA) Krishnamurthy Subramanian and his team. It will be presented by Finance Minister Nirmala Sitharaman.

What to expect from Economic Survey 2020-21?

The Economic Survey is primarily expected to include key details and outcomes of schemes announced by the government in the previous 12-month period. The survey documents will also give projections about economic growth and roadmap in the next fiscal year starting April 1, 2021.

This year, the details of the survey will be closely watched by policymakers, economists and other sectoral experts after the economy suffered a huge blow due to the coronavirus pandemic. While signs of economic recovery are beginning to emerge, there are a lot of challenges that need to be addressed. Some of them may be addressed in the upcoming budget on February 1.

The survey is also important because it is the official commentary of the government on economic progress made during the ongoing fiscal. Commentary on key economic indicators such as agriculture, manufacturing, infrastructure, inflation and demand will be keenly watched by economists and policymakers.

According to reports, the Economic Survey is expected to project at least 11 per cent growth for the next fiscal year starting April 1, 2021. It is also expected to provide a revised annual GDP projection for the current fiscal year.

 

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