New Delhi, January 31 (UITV)- Union Finance Minister Nirmala Sitharaman will present the country’s Economic Survey in Parliament on Friday, January 31, 2025 at 12 noon. This Economic Survey is being presented in Parliament before the presentation of the Union Budget 2025-26, so that a clear view can be presented on the economic situation of the government and the outline of the upcoming budget.
The main objective of the Economic Survey is to review the current economic situation of the country and analyze the prospects for the coming financial year. This document has been prepared by the Economic Division of the Department of Economic Affairs and is headed by Chief Economic Advisor V. Anant Nageswaran. It compiles statistics, reports and other data prepared by the Ministry of Finance, which assess the country’s economic growth rate, inflation, employment, production and performance of various sectors. Through this document, it will be told in which direction the country’s economy is moving and what policies or measures have been suggested for the next financial year.
Apart from the Economic Survey, it also gives many indications about the Union Budget, which can be guessed in which direction steps will be taken in the upcoming budget. For example, the government’s priorities, plans and long-term development strategies can be included in this survey. This document helps in providing guidance to the government while preparing the upcoming budget.
The survey will be presented in the Lok Sabha at 12 noon and in the Rajya Sabha at 2 pm. This will mark the beginning of the budget session, which will start from January 31 and run till April 4. During the session, there will be an inter-sessional break from February 14 to March 10, when the work of Parliament will stop and then the second phase will start from March 10.
- Advertisement -
The subject of the Economic Survey is very important, because it not only gives an overview of the current economic situation, but also provides direction to the policies and plans of the government. It helps in determining the direction of the budget and shapes financial decisions. For example, if the Economic Survey emphasizes the development of a particular sector, then that sector may get special attention in the Union Budget. Thus, this survey gives details of the country’s economic health as well as presents strategies for the future.
Before the presentation of the budget, there is traditionally a cabinet meeting chaired by the Prime Minister. In this meeting, the ministers are briefed about the major plans and proposals of the budget and the approval of the cabinet is obtained. This meeting provides an opportunity to finalize the final ideas and decisions related to the budget.
Before the presentation of the Union Budget this time, President Draupadi Murmu will address a joint sitting of Parliament. The President’s address outlines the major policies and schemes of the government and is seen as the beginning of the budget session. After this, Finance Minister Nirmala Sitharaman will present separate economic surveys in the Lok Sabha and Rajya Sabha.
It is particularly noteworthy that Finance Minister Sitharaman will present the Union Budget for the eighth consecutive time this time. Earlier, she presented the budget for the first time in 2019 and since then she has been handling the responsibility of presenting the budget every year. This continuity and experience of the Finance Minister helps her to understand the economic direction of the country and prepare the budget in a planned manner.
This time the budget session is especially important, as it is being presented before the election year. Before the upcoming elections, this budget will provide important guidelines for the Indian economy. The Economic Survey will evaluate the past work done by the government and it will be seen which sectors will get priority in the upcoming budget. Through this budget, it will also be decided what will be the economic growth rate of the country in the coming years and what kind of financial measures will be implemented.
After the Economic Survey is presented at the beginning of the budget session, the government will set aside a suitable time in Parliament to discuss various sectors. After this, the Union Budget will be presented on February 1, which will clarify the financial plans of the government for the coming year. The proposals and measures taken by the government during the budget will make it clear what is the focus of the government and in which direction it wants to take the country’s economic situation.
This time the Union Budget 2025-26 will be very important for the country’s economic outlook, as it is being presented before the election year and it will be closely watched from various political, social and economic perspectives.
