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Budget 2025: Economic Survey To Be Tabled Tomorrow In Parliament

As per convention, Finance Minister Nirmala Sitharaman will table the pre-budget economic analysis document, providing a comprehensive overview of the economy's performance.

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Budget 2025: Economic Survey To Be Tabled Tomorrow In Parliament

The much-anticipated Budget 2025 is set to be unveiled as the Narendra Modi-led NDA government prepares to present the Economic Survey in Parliament on Friday afternoon.

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As per convention, Finance Minister Nirmala Sitharaman will table the pre-budget economic analysis document, providing a comprehensive overview of the economy's performance. The Economic Survey will be introduced in the Lok Sabha at 12 noon and subsequently in the Rajya Sabha at 2 PM, a day ahead of the Union Budget for the financial year 2025-26.

Understanding the Economic Survey

The Economic Survey, formulated under the supervision of the Chief Economic Adviser and prepared by the Economic Division of the Department of Economic Affairs within the Ministry of Finance, offers an in-depth assessment of the state of the economy. It evaluates key economic indicators for 2024-25 (April-March) while providing projections for the upcoming fiscal year.

Additionally, the document is expected to provide insights into the government's policy direction, potentially setting the tone for the upcoming Budget. The Economic Survey was first introduced in 1950-51 as part of the Budget documents but was separated in the 1960s and has since been presented a day before the Union Budget.

A key highlight of the Economic Survey is its central theme. In previous years, themes have reflected major economic narratives: the 2022 survey emphasized an "Agile Approach" in response to the COVID-19 pandemic, while the 2023 edition focused on "Recovery Complete" as the economy rebounded from multiple crises, including the pandemic and geopolitical tensions. The 2024 document highlighted "Economic Resilience." This year, stakeholders await the central theme and any new sectoral insights the document might introduce.

With the presentation of Budget 2025, Finance Minister Nirmala Sitharaman will mark her seventh budget presentation, surpassing former Prime Minister Morarji Desai, who had presented five annual and one interim budget between 1959 and 1964 as Finance Minister. Like previous years, the Budget 2025 will be presented in a paperless format.

State of the Economy

The Indian economy registered a 5.4 per cent real growth rate in the July-September quarter of the ongoing financial year 2024-25, falling short of the Reserve Bank of India’s (RBI) 7 per cent forecast. A similar trend was observed in the April-June quarter, where GDP growth was lower than expected.

In its latest monetary policy review, the RBI revised its GDP growth forecast for 2024-25 to 6.6 per cent, down from an earlier estimate of 7.2 per cent. The government, meanwhile, projects a 6.4 per cent growth rate for the period. India had reported an impressive 8.2 per cent GDP growth in 2023-24, maintaining its position as the fastest-growing major economy. The economy had grown by 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Economic Survey tabled in July 2024 had “conservatively” projected real GDP growth between 6.5 per cent and 7 per cent for 2024-25.

Traditional Halwa Ceremony Marks Budget Preparations

A customary pre-budget event, the ‘Halwa Ceremony,’ was held on January 24 to mark the commencement of the Budget printing process. Led by Finance Minister Nirmala Sitharaman, the event was attended by Minister of State Pankaj Chaudhary, secretaries, and key officials involved in budget preparation.

The ceremony also signifies the beginning of a security lockdown at the Finance Ministry, wherein officials engaged in the budget preparation remain confined to the premises until the final document is presented in Parliament. The printing of the Union Budget has been conducted in the North Block’s basement since 1980.
Budget Session 2025

The Budget Session of Parliament is scheduled to commence on January 31 and will conclude on April 4. President Droupadi Murmu will address the joint sitting of both Houses of Parliament on January 31, setting the legislative agenda for the session.

The Union Budget will be presented on February 1 at 11 AM in the Lok Sabha. The Finance Minister’s speech will outline the government's fiscal strategies, taxation policies, revenue and expenditure plans, and economic reforms.

Following the budget presentation, Parliament will break for an inter-session period from February 14, reconvening on March 10. The budget will undergo detailed discussions in both Houses, allowing members to analyze its provisions, debate key policies, and propose amendments. Once approved, the Union Budget will set in motion various post-budget activities, ensuring the implementation of its financial provisions.

On the morning of Budget Day, Finance Minister Sitharaman will visit the North Block to meet her ministry's secretaries before heading to the President’s residence to seek formal approval for the presentation. A Cabinet meeting, chaired by the Prime Minister, will be held shortly before the Budget speech, where ministers will be briefed on its key aspects and give final approval.

The Budget 2025 comes amid concerns over weak GDP numbers and sluggish consumption. With the Modi 3.0 government in its early tenure, all eyes will be on the government’s policy measures to address economic challenges and drive growth in the coming years.

Also Read: Parliament Budget Session To Begin On Jan 31, Union Budget On Feb 1

Nirmala Sitharaman Budget Economic Survey