Explained: Here's why there won't be an Economic Survey this year ahead of the interim budget

This year, the Centre is not going to present the Economic Survey—a document prepared by the Chief Economic Advisor (CEA) and presented by the Finance Minister in Lok Sabha, typically a day ahead of the Union Budget on February 1 each year. This is because 2024 is an election year and the regular Budget process may be disrupted if there is a change in government.

Instead, the Centre has come out with a report on India's journey from the past 10 years titled 'Indian Economy–A Review'. The report, which also shares glimpses of the outlook for the economy in the coming years, has been prepared by the office of the CEA V Anantha Nageswaran.

The report clearly mentions that it is not an Economic Survey of India, which it says will be presented before the full Budget after the general elections.

The report 'Indian Economy—A Review' says the country will become a $5 trillion economy in the next three years and can aspire for $7 trillion by 2030.

The last Economic Survey pegged India's GDP growth for fiscal 2023–24 in a broad range of 6-6.8%, depending on the trajectory of economic and political developments globally. The survey's baseline forecast for real GDP growth is 6.5%. The Economic Survey 2021–22 projected India to grow by 8–8.5%.

The country's first Economic Survey was presented in 1950–51. Until 1964, the Economic Survey and the Union Budget were presented together.