The Centre is likely to table the Economic Survey in Parliament on July 22, a day before the Modi 3.0 Government’s first full Union Budget is presented on July 23. 

The Economic Survey, overseen by Chief Economic Advisor V Anantha Nageswaran, provides an annual review of the Indian economy. This document assumes significance as it provides an outlook on growth, inflation rate and projection, forex reserves and trade deficits. It also highlights the policy initiatives of the Central Government. 

Usually, the government does not present a comprehensive Economic Survey before an interim budget (this year the interim budget was presented on February 1). It is presented after the formation of the new government at the Centre post-general elections. 

Earlier this year, instead of an Economic Survey, a report titled ‘Indian Economy—A Review’ was released, providing glimpses of the outlook for the economy. This report was prepared by the office of the Chief Economic Advisor (CEA) V Anantha Nageswaran. 

The Budget Session of Parliament will commence on July 22 and will extend till August 12. Finance and Corporate Affairs Minister Nirmala Sitharaman will present her seventh consecutive Budget on July 23. 

The Centre is likely to use the Budget as an opportunity to make a big picture statement about the long term economic policy vision over the next several years. The policy announcements would likely align with the government’s development agenda for 2047 (coinciding with centennial of Indian independence). The Budget is widely expected to have a thrust on rural economy, job creation through labour intensive manufacturing, support for MSMEs, skilling and continued focus on services exports. 

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