Union Finance Minister Nirmala Sitharaman will present the Economic Survey 2023-24, along with a statistical appendix, in Parliament on Monday, one day before the Union Budget is unveiled. The Economic Survey 2023-24 will be presented in Lok Sabha at 1 pm and in Rajya Sabha at 2 pm, followed by a press conference by Chief Economic Adviser Anantha Nageswaran.
What is an Economic Survey:
Prepared by the Economic Division of the Department of Economic Affairs under the supervision of the Chief Economic Adviser, the Economic Survey provides insights into the state of the economy for 2023-24 (April-March) and an outlook for the current year. It also hints at the tone of the upcoming 2024-25 Budget.
The Economic Survey was first introduced in 1950-51 as part of the budget documents but was separated in the 1960s to be presented a day before the Union Budget. Each year, the Survey features a central theme. For instance, 2022’s theme was ‘Agile Approach,’ focusing on India’s economic response to the COVID-19 pandemic, while 2023’s theme was ‘recovery complete,’ highlighting the economy’s rebound from various global challenges.
The Budget Session of Parliament will start today and is expected to conclude on August 12, depending on the government’s agenda. Union Ministers Nirmala Sitharaman, Jayant Chaudhary, Pankaj Chaudhary, Kirtivardhan Singh, and Sukanta Majumdar will present the Economic Survey in the Lok Sabha.
Additionally, Union Minister Manohar Lal will propose a motion for the election to the Rajghat Samadhi Committee (RSC). The Lok Sabha’s List of Business states, “That, in pursuance of clause (d) of sub-section (1) of Section 4 read with subsection (4) of Section 4 of the Rajghat Samadhi Act, 1951 (41 of 1951), this House do proceed to elect, in such a manner as directed by the Chairman, one member from among the members of the House to be a member of the Rajghat Samadhi Committee.”
Furthermore, Shatrughan Prasad Sinha, representing the Asansol Parliamentary Constituency in West Bengal, will take the oath or make an affirmation, sign the Roll of Members, and take his seat in the House.
Union Minister Mansukh Mandaviya will propose a motion for the election of two members to the Central Building and Other Construction Workers’ Advisory Committee in Lok Sabha. The motion states, “That in pursuance of Section 3(2)(b) of the Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996, read with Rule 11(2) of the Building and Other Construction Workers’ (Regulation of Employment and Conditions of Services) Central Rules, 1998, the members of this House do proceed to elect, in such manner as the Speaker may direct, two members from amongst themselves, to serve as members of the Central Building and Other Construction Workers’ Advisory Committee, subject to the other provisions of the said Act and the Rules made thereunder.”
Matters under Rule 377 will also be discussed in the Lok Sabha.
The session will include 16 sittings over 22 days. Union Minister for Parliamentary Affairs Kiren Rijiju mentioned that this session will primarily focus on financial matters related to the Union Budget for 2024-25, which will be presented to the Lok Sabha on July 23. The Economic Survey of India 2023-24, with its statistical appendix, will be laid on the table of the Houses of Parliament on Monday. Additionally, the Budget for the Union Territory of Jammu and Kashmir for 2024 will be presented on July 23
Finance Minister Nirmala Sitharaman will present her seventh budget, surpassing former Prime Minister Morarji Desai’s record.