Union Finance Minister Nirmala Sitharaman is scheduled to present the Interim Budget for the fiscal year 2024-25 in Lok Sabha on February 1.
Unlike tradition, the customary release of the Economic Survey just before the budget presentation will be skipped this year. The decision is attributed to the fact that 2024 is an election year, with concerns about potential disruptions to the regular budgetary process in the event of a change in government influencing this departure from the norm.
The Economic Survey, a significant document providing insights into the economic landscape, is typically released on January 31. Prepared by the chief economic advisor (CEA) and presented by the finance minister in Lok Sabha, the survey has been an integral part of the budgetary process since its inception.
Originally presented in 1950-51 as part of the Union Budget, it was later de-linked in 1964. Since then, it has become customary to release the Economic Survey a day before the Union Budget presentation.