Current Affairs January 2020: Economic Survey to be Released on 31st January- What is the Economic Survey?

Knowing about Economic survey of India is highly beneficial as in the upcoming exams at least 2-3 questions can be asked from this topic. Even if you clear the written part, you should be very well aware about the economic survey of India as interviewer will definitely ask you questions from this topic, you should have the in depth knowledge about this as you will be a responsible banker.

What is the Economic Survey?
Economic Survey is an annual document released by the Ministry of Finance which gives the details of the various sectors of the economy. It is the flagship document of the Ministry of Finance under the union government. It also provides a vision for the upcoming financial year. The Economic Survey will be released on 31st January i.e. one day before the Union Budget which is presented every year on 1 February.

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History of the Economy Survey
The Economic Wing of the division of financial issues is answerable for the readiness of the Economic Survey under the general direction of the Chief Economic Adviser. The current financial consultant is Dr. Krishnamurthy Subramanian.

India’s first Economic Survey was introduced in the year 1950-51. Up to 1964, it was introduced alongside the Union Budget. From 1964 onwards, it has been de-connected from the Budget.

The Government will undoubtedly exhibit the Economic Survey as it is no place referenced in the Indian Constitution. In any case, it is currently part of the Government Practice to display the Economic Survey each year prior to the financial limit.

Bringing residents near monetary approach making by giving information and investigation in a fathomable way is one of the administrations and the difficulties of the Economic Survey. Resident mindfulness and investment are vital to democratize arrangements and monetary basic leadership. Hence, the Chief Economic Adviser and the Economic Division direct broad effort to scatter the Survey.