India will not have a full-fledged budget on February 1, 2024. Instead, Finance Minister Nirmala Sitharaman will present an interim budget, also known as a vote-on-account.
The Economic Survey is a thorough yearly study that provides insights into the future prospects of the Indian economy by assessing its performance during the previous year. The Chief Economic Advisor (CEA) usually presents it before to the Union Budget, giving the government's financial plans a crucial background. However, India will not have a full-fledged budget on February 1, 2024. Instead, Finance Minister Nirmala Sitharaman will present an interim budget, also known as a vote-on-account.
Finance Minister Sitharaman will unveil an interim budget, not the full budget, on February 1, 2024. As a result, on January 31, 2024, there won't be an Economic Survey delivered in India; nonetheless, a substitute report will be made accessible.
India will have elections in 2024. Given the possibility of a change in administration following the elections, presenting the regular Economic Survey—a document that analyses the performance of the previous year and the prospects for the future—could become politicised. This can interfere with the normal Budget process's ability to run smoothly, which usually comes after the survey presentation.
The election-related circumstances may prevent an official Economic Survey this year, but the "Indian Economy - A Review" provides insightful information on the economic prospects and trajectory of the nation. The study, which was written by CEA V Anantha Nageswaran's office, offers predictions for the future of the economy.
The Ministry of Finance releases The Indian Economy - A Review.
The Review consists of two chapters and takes stock of the state of the Indian economy and its journey in the last 10 years and offers a brief sketch of the outlook for the economy in the coming years.… pic.twitter.com/0RDPiW3f5h