The Economic Survey is the finance ministry's yearly flagship publication. It analyses India's economic development over the previous fiscal year by offering comprehensive statistical data on all sectors including manufacturing, agricultural and industrial.

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It also analyses the country's total macroeconomics over the prior year and furnishes a projection for the coming fiscal year.

Due to the absence of a full-time chief economic advisor, the Economic Survey for 2021-22 is expected to have only one volume. It will mostly comprise the data for the fiscal year across different industry verticals and will not involve the policy prescriptions that are part of the main Volume-1 (CEA).

When was India's first Economic Survey released?

In the year 1950-51, India's first Economic Survey was released. It was announced with the Union Budget until 1964. After that it was decoupled from the Budget.

When is the Economic Survey presented, and by whom?

Every year, during the Budget Session, the Economic Survey is introduced to Parliament. The Economic Survey is generally released a day before the Finance Minister presents the Union Budget.

The Economic Survey reviews the economy's general performance over the year, helping in a better understanding of the Union Budget.

It mainly assists in defining the country's priorities for the coming fiscal year, as well as which verticals in the Union Budget need more attention. Since 1964, the survey is presented ahead of time so that a context for the Budget could be offered.

After existing CEA Krishnamurthy Subramanian revealed his plan to return to academia after his three-year term finished on December 7, the Centre started the search for a new CEA last month, asserting that the process would be concluded by January.

According to officials, Subramanian will be in control of some of the groundwork for the single-volume survey, while the search for a new CEA persists. Subramanian had initiated a number of initiatives, including the Monthly Economic Report (MER), which the new CEA must conclude.