Budget 2020 : Country’s Economic Report Card to be Present Today Before the Budget, Important Things You Need to Know

NP NEWS 24 : New Delhi : A day before the upcoming General Budget 2020, i.e. today, Finance Minister Nirmala Sitharaman will present the report card (Economic Survey) of the country’s economic situation in Parliament. The budget session of Parliament will start at 11 am where the Economic Survey will be present, its copy has reached the Parliament House. After presenting the survey, at around 1.45 pm CEA Subramaniam will give a press conference and explain it in detail. Subramanian and his team will also present the country’s economic road-map for the next financial year 2020-21. In common language and simple terms, economic survey is economic health of the country. Through this document,Government tells the country how the economy is doing.

Know the Important Things Related to Economic Report Card of Country –

What is Economic Survey
– This survey contains detailed information on the country’s economy, forecast and policy challenges.
– It contains the necessary sector-wise framework and measures for improvement.
– This survey serves as an approach to future policies.
– In the macroeconomic situation, it is emphasized on which areas the government should focus on.
– These surveys are only recommendations and there is no legal obligation on them and for this reason the government takes it only as directed.

Who Prepares
– The Economic Survey is prepared by a team of experts in finance and economic affairs along with the Chief Economic Advisor.
– The Economic Survey has complete information about the condition of the economy in the coming time.
– Many times the government is also given suggestions in this survey report.
– However, the government is not obliged to accept the suggestion. The government is free to decide what announcements to make in the budget and what suggestions should be implemented.