Budget 2023: Economic Survey presented, know what it is and why it is important...
Highlights:-
- Finance Minister Nirmala Sitharaman presented the Economic Survey 2022-23 in Parliament.
- President Draupadi Murmu delivered his address in Parliament on Tuesday.
- Between 2004 and 2014, 145 medical colleges were opened in the country. And from 2014 to 2022, more than 260 medical colleges have been opened: President
The official report of the economic condition of the country presented by the Finance Minister in the Parliament before the budget is called Economic Survey or Economic Survey.
The Narendra Modi government at the Center presented the Economic Survey 2022 in the Parliament on Tuesday, 31 January. The Economic Survey of the country is presented a day before the Union Budget 2023-24 is presented. The official report of the economic condition of the country presented by the Finance Minister in the Parliament before the budget is called Economic Survey or Economic Survey.
At the beginning of the budget session starting today, President Draupadi jointly addresses both the Houses of Parliament at 11 am. This is a tradition and it has been followed this time as well. After the President's address, the economic survey was presented by the government.
What is economic survey
Under this, the complete details of the economic condition of the country are presented in the Parliament. What was the trend of development in the country in the last year, what happened in which area and how much investment was made, how much development took place in which area, how the schemes were implemented, all aspects like this are told in this survey. It also includes detailed information related to the country's economy, forecasts and challenges at the policy level. In this, the outline of the sector-wise conditions and the measures for improvement are told. This survey serves as a basis for future policies.
Since the Economic Survey tells about the economic condition of the country, an estimate can be made of which areas will be focused in the upcoming budget. However, please tell here that this survey is only recommendations and there is no legal obligation regarding them. The government takes these only as a guideline.
Economic Survey 2023-24: Finance Minister Nirmala Sitharaman presented the Economic Survey, know 10 big things related to it
- The Indian economy is making broad-based reforms across all sectors, which is poised to pick up and reach the pre-pandemic growth path in FY23.
- Retail inflation is back within the target range of RBI in November 2022.
- Direct tax collections remain buoyant for the April-November 2022 period
- Decreasing urban unemployment rate and faster net enrollment in Employees' Provident Fund saw an increase in job creation.
- Central and state government budgetary expenditure on the health sector reached 2.1% of gross domestic product (GDP) in FY23 (Budget Estimates) and 2.2% in FY22 (Revised Estimates) as against 1.6% in FY2011.
- Social sector expenditure (centre and states combined) has increased to Rs 21.3 lakh crore in FY23 (BE budget estimate) as against Rs 9.1 lakh crore in FY16.
- The Gross Non-Performing Asset (GNPA) ratio of Scheduled Commercial Banks (SCBs) has come down to a seven-year low of 5.0.
- The survey highlights the findings of the UNDP's 2022 report on the Multidimensional Poverty Index which says that 415 million people in India moved out of poverty between 2005-06 and 2019-20.
- India announced Net Zero Pledge to achieve net zero emission target by 2070.
- National Green Hydrogen Mission launched to make India self-sufficient in energy sector by 2047
Economic Survey 2023-24: वित्तमंत्री निर्मला सीतारमण ने इकोनॉमिक सर्वे किया पेश, जानें इससे जुड़ी 10 बड़ी बातें:- CLICK HERE
The Economic Survey prepares a team of finance and economic affairs experts along with the Chief Economic Advisor. This time Chief Economic Advisor V Nageshnevaran has handed over the economic survey to Finance Minister Nirmala Sitharaman.
