Finance Minister Nirmala Sitharaman tabled Economic Survey 2023-24 in Lok Sabha

Earlier, Prime Minister Narendra Modi appealed to all parties to participate in the discussions in Parliament and end the bitterness for the welfare of the country.

Prime Minister Modi said, “I would like to request all MPs to participate in all discussions in the House, no matter how ideologically opposite they are. Opposing ideologies are not bad, but negative ideologies are bad. This is where the boundaries of ideas end. The country does not need negativity.”

Urging all MPs to adopt a progressive ideology, the Prime Minister said, “The country needs a progressive ideology that will promote development and take the country to new heights.”

Prime Minister Modi called upon the people to rise above party lines and raise the voice of the countrymen in Parliament and said, “I would like to tell everyone that people have sent us here for the country, not for our respective parties. This Parliament is not for our parties but for the country. This Parliament is not limited to just MPs, but it is for 140 crore people.”

He said, “I hope that we will make positive use of the temple of democracy to fulfil the aspirations of the common citizens of India.”

The Prime Minister said, “I would like to tell all parties to rise above party lines and dedicate themselves to the country and use this dignified platform of Parliament for the next 4.5 years. You can play any game in the election year of January 2029, but until then we must play our part for the empowerment of farmers, youth and the country.”

Prime Minister Modi said that it is a moment of pride for the government to present its first budget for the third time after the formation of the government after 60 years.

He said, “It is a matter of pride that after 60 years a government has come to power for the third time and will present its first budget for the third time… I have been giving guarantees to the people of the country and our mission is to implement it on the ground. This budget is an important budget of Amrit Kaal. Today's budget will decide the direction of the next 5 years of our tenure. This budget will also become a strong foundation for our dream of a developed India.”

The Economic Survey document prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and under the supervision of the Chief Economic Adviser will provide information on the state of the economy and various indicators for 2023-24 (April-March) and some outlook for the current year.

The Economy Survey document may also give some idea of ​​the form and format of the actual Budget 2024-25 to be presented on Tuesday. The first Economic Survey reportedly came into existence in 1950-51, when it used to be a part of the Budget documents. In the 1960s, it was separated from the Budget documents and presented a day before the Union Budget.

The most important feature that many will notice is its central theme. In 2022, the central theme was 'Agile Approach', emphasising India's economic response to the shock of the Covid-19 pandemic. In 2023, it was 'Recovery Complete', when the economy made a broad-based recovery from the pandemic-induced contraction, Russian-Ukraine conflict and inflation and climbed back to the pre-pandemic growth path.

Usually, along with the sectoral chapters, new need-based chapters are also added to the survey document that need attention. All eyes will be on the key announcements to be made by the Finance Minister and the government's long-term guidance regarding the overall economy.

With this upcoming budget presentation, Finance Minister Nirmala Sitharaman will surpass the record set by former Prime Minister Morarji Desai, who as finance minister presented five annual budgets and one interim budget between 1959 and 1964. Sitharaman's upcoming budget speech will be her seventh.