Chief Economic Adviser KV Subramanian will table the Economic Survey for 2018-’19 in Parliament on Thursday, a day before the new government presents its first Union Budget. This is also Subramanian’s first Economic Survey since being appointed to the post in December.
“Looking forward with excitement to table my first – and the new Government’s first Economic Survey in Parliament on Thursday,” he had tweeted on Monday. The survey was not presented before the interim Budget in February.
The survey is an outlook of developments in the economy, presented in the run-up to the Union Budget. It usually contains a summary of the performance of major development programmes, the government’s policy initiatives, and a forecast of the economy’s prospects. The survey also contains sectoral overviews and comments on reform measures that are required.
According to Moneycontrol, the Economic Survey is expected to discuss agrarian distress and recommend policies on using technology and reduced regulations to bring markets closer to farmers. In the past, the survey has suggested policies not compatible with the government’s official line of thinking. It serves as a policy guide and its recommendations are often not seen in Budget proposals.
Finance Minister Nirmala Sitharaman will present the Budget for the remainder of the year 2019-’20 in Parliament on Friday.