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The Indian Economic Survey
The Indian Economic Survey is the flagship document of the Ministry of Finance. The Economic Survey is prepared by the Economics Division of the Department of Economic Affairs in the Ministry of Finance under the overall guidance of the Chief Economic Adviser. The Economic Survey presents the detailed data regarding the economic development in the country in the past Financial Year. This includes sector-wise data – industrial, agricultural, manufacturing among others. The Economic Survey also analyses the macroeconomic aspects of the country and provides a roadmap for the next financial year. The Economic Survey is presented each year in the Parliament during the Budget Session. The Economic Survey is presented normally a day before the day assigned for Union Budget presentation in the Parliament by the Finance Minister. The Economic Survey is not mandatory, and is nowhere mentioned in the Constitution. But preparation of the Economic Survey has become a practice followed every year.
First Indian Economic Survey
The first Economic Survey in India was presented in the fiscal year 1950-51. Till the year 1964, the Economic Survey was presented along with the Union Budget. From 1964 onwards, the economic survey has been delinked from the Union Budget and is presented separately.
Importance for UPSC Civil Services Examination
A thorough understanding of the Economic Survey is a must for each and every UPSC aspirant. In layman language, the Economic Survey is the report card of the government for the past financial year. The Economic Survey shows what the performance of the Government has been in the past financial year. It gives an idea about the economic situation of the country – which is one of the most important section required to be studied for UPSC preparation. The aspirants should have an idea about the data presented in the Economic Survey, e.g., the growth in various sectors, fiscal developments, reforms introduced by the Government, etc. Also, the roadmap suggested in the Economic Survey becomes an important study material for the mains answer writing. Here we are providing the links to download the Economic Survey 2020-2021.