Economic Survey: Top 5 Things To Know Before Union Budget 2019

Last Updated at: Oct 30, 2020
Economic Survey Top 5 Things To Know Before Union Budget 2019
According to the Economic Survey 2019-2020, India ranks third globally when ranked based on the number of companies created this year. The survey has revealed that the number of new firms in the formal sector grew by 12.2 percent from 2014 to 2018. This implies that entrepreneurship is growing in India at a significant rate. 


The first Budget of re-elected Modi government is scheduled to be presented on July 5 by Finance minister Nirmala Sitharaman. Just before tabling the Union Budget 2019, Chief Economic Advisor (CEA) of the Government of India, will present the Economic survey.

It is the ministry’s summarized view of annual economic development of the country over the previous 12 months – key development programs and government policy initiatives and prospects of the economy in short to medium term. This year the Economic Survey will continue to be a two-volume report as it was in the past four years.

From the general public to top economists, the Budget is keenly followed by everyone to know what they are going to get, such as policies, tax incentives, welfare schemes, etc.

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Here are the top things to know about the Economic Survey:

  1. The latest economic survey will be tabled on July 4.
  2. It will be presented by Krishnamurthy Subramanian, Chief Economic Advisor to GoI. Last year, CEA Arvind Subramanian submitted the report.
  3. The Department of Economic Affairs, Ministry of Finance presents a statistical review of developments in the Indian economy of the previous fiscal year.
  4. The Economic survey provides comprehensive analyses of economic development trends in industrial production, employment, foreign exchange, imports, exports, goods and service sectors, infrastructure, agriculture and other factors related to Budget.
  5. It is necessary to group the economic magnitudes to get a better perspective on the impact of government receipts and expenditures.

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