by Vajiram & Ravi
25-07-2024
05:30 AM
Economic Survey 2023-24 has been released on 22nd July 2024. Every year, the Ministry of Finance publishes a report called the Economic Survey of India. This report usually comes out a day before the Union Budget is presented in the Parliament. The Economics Division of the Department of Economic Affairs creates this report with guidance from the Chief Economic Advisor. It looks back at what happened in the Indian economy during the last 12 months and also gives an idea of how the economy will do in the current year. The economic survey report also gives a snapshot of the current condition of the Indian economy. This includes information about things like the size of the economy (GDP), inflation, jobs, and trade.
The first time this Economic Survey was made in India was during 1950-51. Back then, it used to be presented along with the Union Budget. But from 1964 onwards, it has been presented separately, not at the same time as the Budget.
The Economic Survey of the Financial Year 2023-24 was presented by the Union Finance Minister, Nirmala Sitaraman, on 22nd July 2024, right after the President’s Address. The Survey provided a comprehensive overview of the Indian economy's performance, prospects, challenges, and policy recommendations in the Previous Year.
According to the Economic Survey 2023-24, inflationary pressures, driven by global issues, supply chain disruptions, and unpredictable monsoons, have been effectively managed through strategic administrative and monetary policies. Consequently, retail inflation, which averaged 6.7% in FY23, decreased to 5.4% in FY24. The report further noted that the government's timely policy interventions, combined with the Reserve Bank of India’s measures to ensure price stability, successfully kept retail inflation at 5.4% in FY24, marking the lowest level since the pandemic.
Download the complete Economics Survey 2024 PDF from below:
Here are the Major highlights from the Economic Survey 2023-24.
Also Check: Union Budget 2024
The Economic Survey brings attention to the economic patterns of the country and simplifies the comprehension of how funds are gathered and distributed in the Union Budget. Within the survey, there's an examination of patterns in things like infrastructure, jobs, money availability, prices, imports, exports, foreign money reserves, and other vital economic measures that have an impact on the budget.
The Economic Survey holds significance across different stages of the UPSC Civil Services Exam: Prelims, Mains, and Interview.
Also Check: Economic Survey 2024 Key Highlights
Recognising the significance of the Economic Survey Document, we at Vajiram comprehend the value and have meticulously shaped the content, crafting concise videos from it.
Vajiram & Ravi Economic Survey Youtube Playlist
Each video encompasses:
Through our videos and interactive sessions in the Economic Survey Series, Vajiram & Ravi is committed to aiding your preparation. The lecture series for the Economic Survey 2024, along with its concise summary, will be accessible soon on the official Vajiram & Ravi YouTube channel.
Q1. Who publishes the Economic Survey of India?
Ans. The Economic Survey report is crafted by the Economics Division of the Department of Economic Affairs under the guidance of the Chief Economic Advisor.
Q2. Which organisation conducts the Economic Survey in India?
Ans. The Economic Survey 2023 has been compiled by the Economics Division of the Department of Economic Affairs, led by Dr V. Anantha Nageswaran, who is the Chief Economic Advisor.
Q3. When is the Economic Survey Report released?
Ans. The Economic Survey Report 2024 has been released on 22nd July 2024.
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