Jaitley to present Economic Survey 2014-15 in Parliament today

New Delhi: A day ahead of presenting Union Budget 2015-16, Union Finance Minister Arun Jaitley is likely to present the Economic Survey 2014-2015 in the Parliament on Friday afternoon.

The survey reviews the developments in the Indian economy over the past year. It will also outline the broad direction of the Budget and the economic performance of the country.
The Finance Ministry presents the Economic Survey in the Parliament every year, just before the Union Budget.

It highlights the performance on major development programmes and policy initiatives of the government, say reports.

The survey also points out the prospects of the economy in the short to medium term and is presented to both Houses of Parliament.

As per the new base year of 2011-12, Indian economy grew at 6.9 percent in 2013-14, up from sub-5 percent estimated when the base year was 2004-05.

It should be noted that the government had last month changed the methodology of computing GDP.

The new series will also affect a wide range of indicators like trends in public expenditure, taxes and public sector debt that are conventionally analysed in terms of their ratios to nominal GDP.

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