Economic Survey 2023: PDF Download, Key Highlights & Summary

Budget Economic Survey 2023:  Finance Minister Nirmala Sitharaman represents the country’s annual pre-budget economic survey at Parliament on January 31, 2023.  According to the Economic Survey 2022-23, the following fiscal year will see real GDP growth of 6.5 percent.

The Indian Economy would also increase by 7% for 2023-24. This growth also depicts that India has become the world's fifth-largest economy. 

Economic Survey 2023 Key Highlights 

• Nirmala Sitharaman presented the Economic Survey in both Parliament Houses ahead of the Union Budget.
• According to the survey, the Indian economy would increase by 7% in real terms in the current fiscal year. It also stated that India will continue to be the world's fastest-growing major economy.
• According to the poll, India has become the world's fifth-largest economy, with a nominal GDP of roughly 3.5 trillion US dollars in March 2023. 
• According to the poll, the growth in consumer prices has slowed significantly. According to the poll, the annual rate of inflation is less than 6%, and wholesale prices are growing at less than 5%. 
• Exports of products and services increased by 16% in the first nine months of the current fiscal year.

How to Download the Economic Survey 2023 PDF?

The documents of Economic Survey 2023 are presented by CEA V Anantha Nageswaran, they can be downloaded from the government’s official website https://www.indiabudget.gov.in/.

Click on the below available links to download the pdf of Economic Survey 2023. 

Economic Survey 2023: Highlights of President’s Speech

President Draupadi Murmu addressed the Budget session and highlighted some of the points, such as:

• India is in a better position as compared to other countries due to the decision of the government for the national interest.
• The government e-marketplace has witnessed transactions worth over Rs 3lakh crore.
• GST, Ayushman Bharat are boons for India.
• The government has passed legislation to tackle fugitive economic offenders.
• The Centre is working for women's empowerment.
• Taxpayers are receiving refunds within a few days of filing IT returns.
• 11 crore small farmers are the government’s priority.
• 36,000 Adivasi families have been covered under Adivasi Ekta Mission.
• Government praise people who support fighting against corruption. 

What is an Economic Survey?

The economic survey is an annual report of the Ministry of Finance, Government of India. Every year the Department of Economic Affairs, Ministry of Finance introduces the survey in the parliament prior to the Union Budget. 

The Budget is prepared under the guidance of the Chief Economic Adviser of India. The economic survey is presented to both the Parliament House during the Budget session. 

What are the contents of the Economic Survey?

The economic survey contains the Ministry’s view on the economical state of the country. It represents the development in the Indian economy over the past financial years and exhibits the country’s performance on essential development programs, highlighting the policy initiatives of the government and the economic prospects in the short to medium term.

Economic Survey 2023: Significance

The Economic Survey represents the country’s economic trends and ensures a better appreciation of the resource mobilization and their allocation in the Union Budget. It analyzes the agricultural, industrial, employment, import, and export trends in the country. 

The survey also directs the Gross Domestic Product for the coming financial year and comprises insights into India’s economic growth.

Who Publish the Economic Survey?

The survey is prepared by the Economics Division of the Department of Economic Affairs under the guidance of the Chief Economic Advisor (CEA). The current CEA of India is Dr. V Anantha Nageswaran. 

The first Economic Survey of India was prepared by the Finance Ministry in 1950-51. At that time, the survey was represented along with the Union Budget. However, later it was de-linked from the budget in 1964 and unveiled priorly to provide a context of the latter. 

Economic Survey 2023 Theme?

Every year the theme of the Economic Survey is different. The theme for the Economic Survey 2023 is likely to take note of inflation levels, likely pressure on the Indian Rupee due to RBI’s tightening of monetary policy, employment conditions, pick-up in private investment, infrastructure spending, and improvement in the financial growth of the Indian banking sector.