Budget 2019: How to understand Economic Survey better

[hq]What is the Economic Survey?[/hq] [hans][hstep]The Economic Survey is prepared by the Chief Economic Advisor in the Finance Ministry. It is a good overview of the state of the economy and the issues that have been/to be addressed. It discusses the outlook and challenges of the economy and recommends reform measures. It is an economic report card and provides detailed statistical data covering all aspects of the economy. It is tabled a day earlier to the Budget during the Budget session in Parliament. [caption id=“attachment_6934651” align=“alignleft” width=“380”]  Chief Economic Adviser KV Subramanian presents the Economic Survey 2018-19 during a press conference, in New Delhi. PTI[/caption] In an election year, the government of the day presents an interim Budget leaving task of framing the Economic Survey to the incoming government. The new government tables it in July, during a full-fledged Budget session. The Budget is an estimated income and expenditure for a given financial year. It focusses solely on money matters including fund allocations for developmental process. It is not binding on the government to table the Economic Survey. However now, it is part of a practice. The government is also not bound to follow its recommendations.[hans][hstep]