Nirmala Sitharaman to present Economic Survey in Parliament

After President Droupadi Murmu spoke to the joint sitting of the Lok Sabha and the Rajya Sabha on Tuesday, Union Finance Minister Nirmala Sitharaman will present the Economic Survey in the Parliament. The pre-Budget document is prepared by the Economic Division of the Finance Ministry's Department of Economic Affairs under the supervision of Chief Economic Advisor V Anantha Nageswaran.

This document will give an idea of the state of the economy and various indicators in the current financial year 2022 -- 23 and the outlook for the next year. The Economic Survey may give insight into the tone and texture of the annual budget 2023 -- 24 to be presented on February 1.

The theme is an important feature to look out for. The Economic Survey also adds new chapters that are separate from the sectoral chapters. It is likely to take note of inflation levels, pressure on the Indian rupee due to RBI s tightening of monetary policy, employment conditions, pick up in private investment, infrastructure spending and improvement in the financial health of the Indian banking sector.

The theme for the last year's economic survey was Agile Approach. It focused on India's economic response to the COVID 19 crisis. Its preface was built on feedback, real-time monitoring of actual outcomes, flexible responses, and safety-net buffers amongst others.

The Economic Survey 2022 -- 23 is likely to see India's GDP growth grow at 6 per cent to 6.8 per cent. It may be the slowest in three years that the growth is seen at 6.5 per cent for 2023 -- 24 under the baseline scenario. A government source told news agency Reuters that nominal GDP growth will likely be forecast at 11 per cent for 2023 -- 24.