What is Economic Survey and what does it entail

The Finance Minister Arun Jaitley will table the Economic Survey of India in both houses of the parliament on Monday.

The economic survey is a document that analyses the Indian economy over the last 12 years and reviews the performance of various schemes introduced by the government in Parliament on the first day of the Budget session. 

The document is authored by Chief Economic Advisor Arvind Subramanian.

The Central Statistics Office's (CSO's) first advance estimates, released earlier this month, projected that India is likely to grow at 6.5 per cent in 2017-18, slower than the previous year's 7.1 per cent expansion, but a recovery in household spending and corporate investments held out hopes of rapid recovery.

The Economic Survey will be released around 15 months after demonetisation and is expected to review its costs and benefits. 

Mr Subramanian will present the highlights of the economic survey at a press conference at the national media centre at 1:30 pm.

Earlier, the survey came as a single volume divided in two parts. The first part contained commentary; the second part carried statistics.

Since last year the survey has been presented in two volumes—tabled seven months apart. The move to advance the budget’s presentation by a month to February 1 from February 28 has prompted a modification to a two volume system. 

In the modified construct, the first part is tabled in the last week of January, with commentary and outlook, while the second volume, presented in July-August contains updated macroeconomic data and analyses.