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.
New Delhi. Before the Union Budget (Budget 2021), the Economic Survey or Economic Survey for the financial year 2020-21 will be presented in Parliament today i.e. 29 January 2021. With the introduction of this survey, the budget session will also begin. In simple language, economic survey accounts for the economic health of the country. The Chief Architect of the Economic Survey 2020-21 is the Chief Economic Advisor Krishnamurthy Subramanian.
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.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.
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budget session will start from today also
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.
