InvestorQ : Is the Economic Survey binding on the government?
Radhika Arya made post

Is the Economic Survey binding on the government?

Swapnil Sarang answered.
2 years ago

The Economic Survey, the flagship annual document presented by the Ministry of Finance a day prior to the Union Budget, is one the most detailed report on Indian economy and its position in the global economy.

This document is like the government’s report card as it states how finances were utilised and how our policies fared in the face of various global economics tailwinds. While the government presents the Economic Survey in the Parliament every year one day prior to the Union Budget and will be doing the same on January 31, 2019, it is not binding on the government to either present it or follow the recommendations set forth.

Recommendations made in the Economic Survey serve as a policy guide, but do not reflect the contents of the Union Budget. Furthermore, the policy changes recommended in the Economic Survey have not found mention in the Union Budget. Thus, no, the Economic Survey is not binding to the government at all.