Government set to table Economic Survey

February 26, 2016 11:13

Ahead of the Union Budget, the government will on Friday present its Economic Survey.

The report, authored by Chief Economic Advisor Arvind Subramanian, is the summary of the economic performance of the nation in the past fiscal year.

While the Union Budget lays down the road map for the economy in the next fiscal year, the economic survey is the government's analysis of the past fiscal year.

It contains data of various macroeconomic indicators which reflect the state of the economy such as Gross Domestic Product, Gross National Product, Inflation rate, foreign exchange trends, balance of payments etc.

It outlines the performance of the various sectors of the economy -- agriculture, industry, services sector in the past fiscal year.

It also shows whether the targets mention in the Union Budget of the previous fiscal year were achieved or not.

The report comes days after the International Monetary Fund hinted at another downward revision of the world growth forecast for 2016, barely six weeks after it revised the estimates. Elsewhere in the Eurozone, Britain's economy slowed sharply to 2.2 per cent in 2015, down from 2.9 per cent in 2014.

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