The Economic Survey is a highly anticipated annual document released by the Government of India, providing a comprehensive analysis of the country’s economic performance over the past year and offering insights into future growth prospects. It serves as a crucial policy guide for economic planning and is presented a day before the Union Budget in Parliament.
On January 31, 2025, Finance Minister Nirmala Sitharaman will unveil the Economic Survey 2024-25, which will outline key trends, challenges, and recommendations shaping India’s financial and economic policies.
Before we learn about the major highlights of this year's Economic Survey, let’s test our knowledge with this quiz, complete. This quiz will help you understand important concepts and the key themes that typically feature in the Economic Survey.
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1. Who presents the Economic Survey of India?
a) Prime Minister
b) Finance Minister
c) Chief Economic Advisor
d) RBI Governor
Answer: b) Finance Minister
Explanation: The Finance Minister presents the Economic Survey in Parliament, but it is prepared by the Chief Economic Advisor.
2. When is the Economic Survey usually released?
a) One week before the Union Budget
b) A month before the Budget
c) On the same day as the Budget
d) A day before the Union Budget
Answer: d) A day before the Union Budget
Explanation: The Economic Survey is traditionally released one day before the Union Budget to provide an economic overview.
3. What does the Economic Survey primarily focus on?
a) Government policies only
b) Future tax policies
c) India’s economic performance and outlook
d) International trade agreements
Answer: c) India’s economic performance and outlook
Explanation: It reviews past economic performance and suggests future economic policies.
4. Which organisation helps in preparing the Economic Survey?
a) Ministry of Finance
b) RBI
c) NITI Aayog
d) SEBI
Answer: a) Ministry of Finance
Explanation: The Department of Economic Affairs, under the Ministry of Finance, prepares the survey with inputs from the Chief Economic Advisor.
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5. How many volumes does the Economic Survey usually have?
a) One
b) Two
c) Three
d) Four
Answer: b) Two
Explanation: It typically consists of two volumes: one analyzing economic trends and the other discussing policies.
6. What is the role of the Chief Economic Adviser in the Economic Survey?
a) To print the report
b) To draft and present the survey
c) To collect taxes
d) To approve the Budget
Answer: b) To draft and present the survey
Explanation: The Chief Economic Adviser (CEA) leads the preparation of the Economic Survey.
7. What is the expected GDP growth forecast in the Economic Survey 2025?
a) 6-7%
b) 5-6%
c) 7-8%
d) Yet to be announced
Answer: a) 6-7%
Explanation: According to reports, GDP forecasts lie between 6-7%.
8. Which international body’s data is often referenced in the survey?
a) IMF
b) FIFA
c) WHO
d) ICC
Answer: a) IMF
Explanation: The International Monetary Fund’s (IMF) economic data is frequently cited.
9. Why is the Economic Survey important?
a) It shapes public opinion
b) It guides government decisions
c) It informs investors
d) All of the above
Answer: d) All of the above
Explanation: The survey is valuable for policymakers, businesses, and the public.
10. Which chapter in the Economic Survey focuses on agriculture and rural development?
a) Agriculture and Food Management
b) Fiscal Developments
c) Sustainable Development and Climate Change
d) Industry and Infrastructure
Answer: a) Agriculture and Food Management
Explanation: This chapter analyzes trends in agriculture, rural incomes, and food security.
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