India Budget 2019: Modi government’s big decision on Economic Survey 2019; read here

By: and |
New Delhi | Updated: January 15, 2019 6:54:58 PM

Budget 2019: The budget session is scheduled to begin on January 31 and will culminate on February 13.

Budget 2019Budget 2019

Budget 2019 India: The Narendra Modi government will table its sixth Union Budget and first interim Budget on February 1. The budget session is scheduled to begin on January 31 and will culminate on February 13. As a practise, the Economic Survey is presented a few days before the Union Budget. In 2018, the Economic Survey was presented on January 29 in Parliament. Economic Survey 2018 was presented after President Pram Nath Kovind made the customary address to the joint sitting of Lok Sabha and Rajya Sabha in Parliament on the first day of the Budget session 2018. The Economic Survey 2018 was presented in two versions- Hindi and English. However, this time Economic Survey 2019 will not be tabled, a Finance Ministry official told Financial Express Online.

The Economic Survey generally presents a review of annual economic development of India. The Finance Ministry presents its view on economic development through the Economic Survey. The economic survey is presented by the central government ahead of the Union Budget every year. However, the government has decided not to present the Economic Survey 2019 before the interim Budget 2019.

Read Also: Budget 2019: Funds, focus, reform – Education sector should get maximum from Modi government

In the Economic Survey report 2017-18, the economic growth was projected between 7% and 7.5%. However, concerns were raised over rising crude oil prices. As per the Economic Survey report 2017-18, private investment was set to rebound in the financial year of 2019. The Economic Survey 2017-18 predicted that education, employment and agriculture would remain the focus in the medium term. The Economic Survey, prepared by the Chief Economic Advisor, presents a roadmap for the economy for the upcoming fiscal year, while at the same time providing a review of the year gone by.

Even though Finance Minister Arun Jaitley will present an Interim Budget on February 1, experts are of the view that the Budget speech will have populist undertones with Lok Sabha elections around the corner.

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