Budget 2025: What Is Economic Survey? Why Is It Presented Ahead Of Union Budget?

The Union Budget 2025 will be presented by the Finance Minister of India, Nirmala Sithraman, in all likelihood on February 1, 2025. The Ministry of Finance will also release the Economic Survey 2025 before the Union Budget. The theme of the Economic Survey is likely to center around deregulation, this year.

But What Is The Economic Survey?

The Economic Survey is tabled a day before the day of the Union Budget in the Parliament and is an important document.

The Economic Survey is like a synopsis for the Budget as it provides a roadmap for the same. It also provides insights into the financial and economic health of the country, while highlighting the themes of the government's financial planning.

The Economic Survey is prepared by the Department of Economic Affairs. The Chief Economic Advisor (CEA) V Anantha Nageswaran supervises the preparation of the Economic Survey. This is an analysis of the Indian economy for the current as well as previous fiscal years.

Components of Economic Survey

There are two components of the Economic Survey -  it comprises of two sections Part A and Part B. Part A usually lists out important economic developments of the current fiscal and gives an overall idea of India's economic health and major pointers. Part B of the Survey comprises of commentary on socio-economic issues such as education, poverty, climate, human development as well as social security.

Why Is The Economic Survey Important?

From commenting on a global outlook for GDP to giving projections on forex reserves, trade deficit and inflation, the Survey includes several important numbers. The Union Budget is presented in the Lok Sabha as well as the Rajya Sabha. This makes it a significant pre-Budget document.