Budget 2021: Economic Survey 2020-21 to be presented today
Finance minister Nirmala Sitharaman will present the Economic Survey 2020-21 in Parliament on Friday as the Budget Session is all set to begin. The Budget will be presented on February 1. Generally, the Economic Survey is presented a day before the Budget, but this year as the Budget follows the weekend, the Economic Survey will be presented earlier than usual. Chief Economic Adviser KV Subramanian will address a press conference at 2.30pm after the presentation of the Economic Survey.
Economic Survey, presented ahead of Budget, provides a review of the economy of the current financial year and forecasts a path for the coming year. This year, it holds major significance because of the economic upheavals owing to Covid-19 pandemic. It will also project India's gross domestic product growth for 2021-22.
As the Budget session has gone paperless this year, all the documents, including the Economic Survey, would be made available online soon after the authenticated copies are laid on the Table of the House, the Lok Sabha Secretariat has said. The copy of the Economic Survey can be downloaded from www.indiabudget.gov.in.
The practice of presenting the Economic Survey dates back to 1950-51 and until 1964, it used to be presented along with the Union Budget. From 1964, the ministry started to release the survey a day before Budget.
The Economic Survey is a crucial document not only for GDP projection. Every year, it has a theme and since 2018 CEA Subramanian has grabbed attention with his innovations. In 2019, the entire Economic Survey was printed in pink, carrying a message for women empowerment and gender equality.
In 2019-20, the theme was wealth creation and KV Subramanian's 'Thalinomics: The Economics of a plat of food in India' became a talking point.