The Chief Architect of the Economic Survey 2020-21 is Chief Economic Advisor Krishnamurthy Subramanian. (Photo- Moneycontrol)
The central government presents the budget for the next financial year in Parliament, while the Economic Survey (Economic Survey) is an accounting of the current financial year. It keeps a record of the development of the country for the current financial year. At the same time, Finance Minister Nirmala Sitharaman will present the budget 2021-22 in Parliament on 1 February 2021.
- January 29, 2021, 12:34 AM IST
Economic survey is an account of economic development
The central government presents the budget for the next financial year, while the economic survey is an accounting of the current financial year. On February 1 this year, the budget for the financial year 2021-22 will be presented, but the economic survey that will be presented today is for the current year 2020-21. It will have an account of the full year economic development.
Also read- Budget 2021: Disinvestment target may not be met, target for next year may be Rs 2 lakh croreHow is the economic survey related to the budget?
The Economic Survey is an important economic report card. Its job is to provide statistical data in detail by looking at all aspects of the economy. According to the rules and rules, the government is not obliged to present the survey. It is a part of the process. Apart from this, the reforms recommended in the survey. The government too is not obliged to accept them. In this survey, the outlook and challenges of the country’s economy are discussed. Improvements are recommended in these. Whereas there is an estimate of earning and spending in the budget. There is allocation of funds for the schemes.
Also read- Budget 2021: Preparing to give big relief to common man, can get 80 thousand rupees exemption in tax
Budget session will also start from today
The budget session of Parliament will also start from today. During the session, the general budget of the financial year 2021-22 will be presented in Parliament on 1 February. According to the statement of the Lok Sabha Secretariat, the budget session running in two parts will run till 8 April 2021. The first phase of the budget session will run from 29 January to 15 February 2021, while the second phase will run from 8 March to 8 April 2021.