Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman today tabled the Economic Survey in Parliament. Let us tell you that Economic Survey is a comprehensive review or annual report of the Indian economy during the previous financial year. It is prepared by the Department of Economic Affairs of the Ministry of Finance under the supervision of the Chief Economic Adviser (CEA) of India. This year’s document was released on July 22, a day before the budget announcement. It provides comprehensive details about the economic performance, major development programmes and policy initiatives of the government. Besides, it also provides the accounts for the next financial year.
78 lakh people will have to be given work
The Economic Survey is first tabled in the Lok Sabha and then in the Rajya Sabha during the Budget session of Parliament. The survey says that to meet the needs of the growing workforce, the Indian economy needs to create an average of around 78.5 lakh jobs annually in the non-agricultural sector by 2030. This means that if the growth of the economy is to be sustained, employment opportunities will have to be provided to an average of 78 lakh people every year, so that there is no decline in demand and supply and demand are maintained in balance.
The growth rate can remain like this
Presenting the Economic Survey, Finance Minister Nirmala Sitharaman said that this is the economic survey for the financial year 2023-24. A lot of data including GDP growth, inflation, employment and fiscal deficit have been included in this survey. She said that the country’s economy is in a better shape even as the world is battling geopolitical tension. While briefing, she said that in the current financial year the country’s growth rate may range between 6.5 and 7 per cent. While in the last financial year the country’s growth rate was 8.2 per cent. However, the estimate given by the government is lower than the RBI’s estimate of 7.2 per cent.
