What is the Union Budget 2024: Economic Survey to be Presented in Parliament Today?

Union Finance Minister Nirmala Sitharaman is set to present the pre-budget document in Parliament, a day ahead of the full Budget presentation for 2024-25. 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. This year’s Budget is of particular interest due to the struggles faced by several major economies. India, on the other hand, has retained its status as the fastest-growing economy.

The Budget serves as a report card on the economy, presenting the growth outlook and providing a detailed account of the state of the economy, prospects, and policy challenges. It also includes statistical information and analysis on various sectors of the economy such as employment, GDP growth, inflation, and the budget deficit. The central theme of the Economic Survey is a key focus, with previous themes including ‘Agile Approach’ in 2022 and ‘recovery complete’ in 2023. The Survey document also features need-based chapters that demand attention.

All eyes will be on the major announcements made by the finance minister and the government’s forward-looking guidance about the overall economy. This upcoming budget presentation will mark Finance Minister Nirmala Sitharaman’s seventh budget speech, surpassing the record set by former Prime Minister Morarji Desai. Desai presented five annual budgets and one interim budget between 1959 and 1964 as finance minister. Sitharaman has also surpassed Manmohan Singh, Arun Jaitley, P. Chidambaram, and Yashwant Sinha, who each presented five budgets.