Question

Economic survey is published by __________.
1. Ministry of Finance
2. Planning Commission
3. Govt of India
4. Indian Statistical Institute

Answer 1

Correct Answer - Option 1 : Ministry of Finance

The correct answer is Ministry of Finance.

• The Economic Survey of the country is prepared by the Economics Division of the Department of Economic Affairs which is a part of the Finance Ministry.

• The survey is documented under the supervision and guidance of the chief economic adviser and is released only after the approval of the finance minister.
• The Economic Survey is an annual document released by the ministry of finance.
• It reviews the economic development in the nation in the previous financial year by providing detailed statistical data of all industrial sectors.

• Economic Survey, presented in the Parliament ahead of the Union Budget, is the Ministry of Finance’s flagship document.
• The Economic Survey detailed information about the Indian economy over the past year. The Economic Survey also offers glimpses into the current state of the economy, and occasional insights into the economic outlook.
• Although the Constitution does not bind the government to present the Economic Survey, over the years, it has become common practice for every government to present the Economic Survey before the Union Budget.
• The Economic Survey is prepared under the guidance of the Chief Economic Advisor and is presented in both the houses of Parliament, a day before the announcement of the Union Budget.

• Interestingly, former Chief Economic Advisor Arvind Subramanian in 2018 had for the first time released the document in pink colour.
• The idea was to support women who suffer violence and to push for more gender equality. Not just the colour of the document, he revamped the whole document by making it more interesting with quotes and additional information.
• This was the first time that the Economic Survey used data generated by GST Network and the Indian Railways to see the flow of goods and people across states within India.