Economic Survey of India: This year, it is prepared by Chief Economic Adviser Krishnamurthy SubramanianFinance Minister Nirmala Sitharaman will table the Economic Survey 2018-19 in Parliament around 12:00 pm today.
As the flagship document of the finance ministry, the Economic Survey provides detailed statistical data covering all aspects of the economy.
Prepared by Chief Economic Adviser Krishnamurthy Subramanian, today's Economic Survey will be the first under the re-elected Narendra Modi government.
The release of Economic Survey 2018-19 comes a day ahead of the presentation of Union Budget in Parliament.
Typically, an Economic Survey provides a policy perspective for the Union Budget.
It highlights the policy initiatives undertaken by the government and a roadmap to further boost the economy.
From policymakers, to economists to analysts, businessmen and researchers, the Economic Survey details the economic situation for a wide variety of audience.In January-March, annual growth slumped to 5.8 per cent, the slowest pace in 20 quarters.
Growth for the financial year that ended in March was 6.8 per cent, also a five-year low, and indicators such as plummeting industrial output and automobile sales have stoked fears of a deeper slowdown.Today's Economic Survey comes at a time the economy is facing a range of challenges such as slowing growth and weakening consumption.
Krishnamurthy Subramanian was appointed Chief Economic Adviser for a period of three years in December 2018.
A professor from the Indian School of Business, Mr Krishnamurthy Subramanian filled the role vacated by Arvind Subramanian, who left the finance ministry after a four-year stint in June.
The Economic Surveys for past four years (2014-15, 2015-16, 2016-17 and 2017-18) were prepared by then Chief Economic Adviser.
The Economic Survey is presented a day before the Union Budget to both houses of Parliament during the Budget Session.This year's Economic Survey is prepared by Chief Economic Adviser Krishnamurthy Subramanian.
"Looking forward with excitement to table my first - and the new government's first - Economic Survey in Parliament on Thursday," he said on microblogging site Twitter.
At 10:19 am, the Sensex traded 96.84 points - or 0.24 per cent - higher at 39,936.09 while the Nifty was up 29.25 points - or 0.25 per cent - at 11,946.00.Top gainers on the 50-scrip index at the time were Indiabulls Housing Finance, UPL, IndusInd bank, Bharti Airtel, Kotak bank and UltraTech Cement, trading between 1.60 per cent and 3.97 per cent higher.
Kotak Bank, ICICI Bank and IndusInd Bank contributed the most to the advances in Sensex.
(Click here for more on how the markets are faring ahead of Economic Survey)Domestic stock markets clocked mild gains ahead of the release of Economic Survey 2018-19, with the S-P BSE Sensex benchmark index gaining more than 100 points in early trade.
The NSE Nifty index rose as much as 44.55 points to touch 11,961.30 in intraday trade, while the Sensex moved to as much as 39,976.53, up 137.28 points from the previous close.
This year's Economic Survey is expected to highlight a slowdown in the economy, which led to a growth of 6.8 per cent in financial year 2018-19.
In the interim Budget, tabled in Parliament in February this year, the government had expected GDP or gross domestic product growth to come in at 7.2 per cent.The Economic Survey highlights policy initiatives of the government and a roadmap to further boost the economy.
It also summarises the performance on major development programmes and highlights the policy initiatives as well as the economic prospects over the short to medium period.