The Economic Survey is an annual report and a non-binding document released by the Ministry of Finance, Government of India, that serves as an official review of the country's economic performance over the past financial year. It was first presented in 1950-51 as a section of the Union Budget documents to provide an overview of India's economic standing. The document was separated from the Budget and began to be presented independently in 1964, allowing for a more detailed and objective review of economic developments.
The Survey is prepared by the Economics Division of the Department of Economic Affairs under the overall guidance of the Chief Economic Adviser. It is typically tabled in both Houses of Parliament by the Finance Minister a day before the presentation of the Union Budget, to which it is closely connected as it provides the analytical base for the Budget's proposals. The document analyzes key macroeconomic indicators, including GDP growth, inflation, fiscal and monetary policy, and sectoral performance. For instance, the Economic Survey 2023-24 was tabled on July 22, 2024, and projected the real GDP growth for FY25 to be between 6.5% and 7%. The Survey also includes an outlook for the coming year and highlights policy initiatives. While the core nature of the Survey as an annual economic review has remained the same, the most significant historical change was its separation from the Union Budget in 1964.