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Economic Survey 2022: Why is it presented a day before Union Budget? What changes India will witness in this year’s Economic Survey? All you need to know

Union Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 today. Do you know why it is not presented with Union Budget? Do you know what the Economic Survey 2022 is all about? Read here.

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Union Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 today, January 31, in the Lok Sabha. The Economic Survey will be presented in the Lok Sabha after the president’s address to both houses of Parliament. The Economic Survey is released a day before the Union Budget is presented in Parliament.

This year’s Economic Survey is expected to predict a growth rate of around 9 percent for the next fiscal year, FY22-23. Last year, the Economic Survey for 2020-21 predicted that the current fiscal year, which ends on March 31, 2022, will see a GDP growth of 11 percent.

What is the Economic Survey?

The Economic Survey is a financial document that is presented annually to review the economic development in the country over the past financial year. The survey provides detailed statistical data of all the sectors including agricultural, industrial, employment, industrial production, exports, prices, among others. Besides this, it also evaluates changes in other areas of the Indian economy, such as the money supply and foreign exchange reserves.

The Economic Survey is divided into two parts- Volume 1 and Volume 2. Volume 1 is about the economic challenges that the country is facing whereas Volume 2 gives an analysis of the previous fiscal year.

Who prepares the Economic Survey?

The Economic Survey is prepared by the Economics Division of the Department of Economic Affairs of the Finance Ministry under the overall guidance of the Chief Economic Adviser (CEA). It is only released after it is approved by the Finance Minister.

What changes India will witness in this year’s Economic Survey?

CEA generally prepares the document but this year’s Economic Survey has been prepared by the principal economic adviser and other officials as the post remained vacant following Krishnamurthy Subramaniam’s term that ended in December. This will be the first Economic Survey to be presented by V Anantha Nageswaran. The government has appointed economist V Anantha Nageswaran as the next CEA just days before the release of the Economic Survey.

This year the Economic Survey is likely to be presented in a single volume. Volume 1 which tells about the economic challenges that the country is facing may not be presented in Parliament today. Volume 2 contains a sectoral analysis of the economy of the previous fiscal year that will be tabled today at 3:45 pm.

What is the significance of the Economic Survey?

Union Ministry of Finance presents the Economic Survey every year. The Economic Survey is regarded as the flagship annual document of the Finance Ministry that provides a summary of all the economic development across the country that happened in a particular financial year. It not only examines the country’s macroeconomic status over the prior fiscal year but also provides an outline for the upcoming fiscal year.

Why Economic Survey is presented a day before Union Budget and not on the same day?

Economic Survey maps out a roadmap for India’s economy going into the next financial year. The reason for presenting an Economic Survey is to review the overall economic performance of the country during the year in order to give a better understanding of the Union Budget.

Read Also: Indian Railways cancel 447 trains, reschedule and divert 18 trains, check the full list here

The survey is largely used to determine the country’s priorities for the coming fiscal year, as well as which sectors in the Union Budget require additional focus. In 1964, the Economic Survey was separated from the Budget and released ahead of time to provide a context of the latter.

When was the first Economic Survey of India presented?

In 1950-51, the first Economic Survey was presented. It was introduced with the Union Budget up to 1964. From 1964 onwards, it has separated from the Union Budget and presented a day before.

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MEA responds after ITBP chief flags ongoing face-offs with China in Arunachal

India said deviations by Chinese forces from established patrolling patterns periodically disturb the situation along the Line of Actual Control, as the government addressed remarks by the ITBP chief about ongoing face-offs in Arunachal Pradesh.

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MEA

India on Friday said that deviations by Chinese forces from established patrolling patterns periodically disturb the situation along the Line of Actual Control (LAC). The Ministry of External Affairs (MEA) made the remarks amid reports of continuing face-offs between Indian and Chinese forces at multiple locations in Arunachal Pradesh.

MEA spokesperson Randhir Jaiswal addressed the issue during a regular media briefing on October 23, following remarks by Indo-Tibetan Border Police (ITBP) Director General Shatrujeet Kapur about the ongoing confrontations along the border.

“As we have noted in the past, the situation in the India-China border areas gets disturbed from time to time when Chinese forces diverge from established patrolling patterns,” Jaiswal said.

He also reiterated that maintaining peace and tranquillity in the border areas was essential for the overall development of bilateral relations between India and China.

MEA stresses diplomatic and military engagement

Jaiswal said India and China continued to use existing diplomatic and military mechanisms to resolve outstanding issues and prevent misunderstandings and miscalculations along the LAC.

He added that both countries had agreed to discuss ways to improve their understanding of the LAC in appropriate areas to strengthen border management.

The spokesperson did not elaborate on the specific confrontations mentioned by the ITBP chief, with further questions on the details referred to the Ministry of Defence, according to reporting on the briefing.

ITBP chief confirms ongoing face-offs in Arunachal Pradesh

A day before the MEA briefing, Kapur said face-offs between Indian and Chinese forces had occurred at several locations in Arunachal Pradesh in recent days and that the situation was continuing.

Speaking to ITBP personnel at a base in Alwar, Rajasthan, on Thursday, Kapur also discussed the force’s efforts to strengthen its operational capabilities along the border.

He said the ITBP had mobilised its newly raised Shaurya commando unit during the ongoing face-offs. He also highlighted the creation of drone platoons for border units and the development of a new training course to prepare personnel for battles similar to the 2020 Galwan Valley clash.

The remarks came as the ITBP continued its modernisation efforts, including a greater focus on specialised training and emerging warfare technologies.

Border management remains central to India-China ties

The latest statements underline the importance India places on maintaining peace along the disputed boundary while addressing unresolved issues through diplomatic and military channels.

India and China have continued engagements aimed at managing tensions along the LAC. However, reported confrontations at multiple locations in Arunachal Pradesh have brought the border situation back into focus.

The MEA reiterated that peace and tranquillity along the border remained essential for the broader development of bilateral relations, while emphasising continued engagement to improve border management.

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Delhi High Court rejects Neha Bora’s plea against peace bond notice

The Delhi High Court has rejected AISA president Neha Bora’s petition challenging a police notice requiring her to execute a peace bond following her participation in recent protests in the national capital.

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The Delhi High Court has rejected a petition filed by All India Students’ Association (AISA) president Neha Bora challenging a police notice that required her to execute a peace bond before a special executive magistrate.

Justice Subramonium Prasad pronounced the order on Friday, October 23, after reserving the verdict following arguments from both sides a day earlier.

The notice, issued by the Special Executive Magistrate in New Delhi district on October 17, directed Bora to appear before the magistrate and execute a personal bond of Rs. 10,000 with one surety to maintain peace.

The proceedings stemmed from her participation in protests in the national capital, including a gathering at Mandi House on October 16, amid demonstrations over alleged electoral fraud.

Why Neha Bora challenged the notice

Bora approached the High Court seeking to challenge the notice, arguing that it was ambiguous and factually incorrect. Her petition also alleged that the proceedings infringed her fundamental rights under Articles 19 and 21 of the Constitution.

She contended that the notice did not provide sufficient material to establish a likelihood of a breach of peace. It also failed to specify the period, occasion or event in connection with which the authorities apprehended such a breach, according to her petition.

Bora’s counsel further argued that she had organised a separate gathering at Mandi House and was not involved in the Cockroach Janta Party’s protest call at Central Park in Connaught Place on October 16.

The petition sought relief against the notice and the proceedings arising from it.

What the police told the court

During the hearing, Additional Solicitor General Chetan Sharma, appearing for the Delhi Police, referred to 12 instances of alleged violations involving Bora and argued that the proceedings were preventive in nature.

The police also referred to a gathering at which activist Prashant Bhushan and Cockroach Janta Party leaders allegedly called for a change of regime.

Bora’s counsel countered that she had attended a separate protest at Mandi House and that statements made at a gathering could not automatically be attributed to her.

The arguments centred on the basis for initiating preventive proceedings and the allegations cited in the notice.

Neha Bora was detained during a protest on October 16

Bora was detained on October 16 while taking part in a flag march with AISA activists demanding the resignation of Chief Election Commissioner Gyanesh Kumar. She was released at around 6 am on October 17.

The peace bond notice was issued on October 17, the day she was released from detention. It directed her to appear before the special executive magistrate and explain why she should not be required to furnish the bond.

The notice referred to allegations including raising slogans during the Mandi House protest, participating in repeated protest-related activities around Jantar Mantar despite prohibitory orders, and encouraging people to join an unauthorised demonstration at Central Park in Connaught Place.

Bora disputed aspects of the allegations in her court petition, including the claim that she had instigated people to participate in the Central Park demonstration.

What happens after the court’s decision

With the High Court rejecting Bora’s petition, she has not obtained the relief she sought against the police notice. The notice requiring her to execute the peace bond remains in effect, according to reports on the court’s decision.

The dismissal concerns her challenge to the notice. The allegations cited in the preventive proceedings should not, by themselves, be treated as findings that she committed an offence.

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PM Modi to inaugurate Rs 169-crore RBI data centre in Odisha on October 25

Prime Minister Narendra Modi is scheduled to visit Odisha on October 25 to inaugurate the Reserve Bank of India’s Rs. 169-crore data centre in Jatni, near Bhubaneswar.

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Prime Minister Narendra Modi is scheduled to visit Odisha on October 25 to inaugurate the Reserve Bank of India’s (RBI) Rs. 169-crore data centre at Info Valley-II in Jatni, on the outskirts of Bhubaneswar.

According to the tentative itinerary shared by the Odisha Chief Secretary’s office, the Prime Minister is expected to arrive at Biju Patnaik International Airport in Bhubaneswar at around 4:30 pm aboard a special Indian Air Force aircraft. He will then travel by helicopter to the Khurda helipad before proceeding by road to the RBI facility for the inauguration.

The Prime Minister is likely to spend around an hour at the facility before returning to Bhubaneswar and departing from the state at approximately 6:30 pm.

RBI data centre to strengthen financial infrastructure

Spread across 18.55 acres, the new data centre is designed to strengthen the RBI’s data management, disaster recovery, cybersecurity and business continuity capabilities.

The facility will support critical central banking functions, including currency management, payment and settlement systems, and regulatory operations. It is also expected to serve as a backup to the RBI’s existing data centre in Navi Mumbai.

The new facility will be the RBI’s second data centre of this kind, following its existing centre in Navi Mumbai.

Why the data centre is located in Jatni

The site at Info Valley-II was selected for its geographical stability. According to an official, its location away from seismically active zones and high-risk international border areas is intended to reduce exposure to natural disasters and geopolitical vulnerabilities.

The project is intended to help maintain the continuity of essential RBI operations while strengthening the security and resilience of India’s financial infrastructure.

The foundation stone for the facility was laid by then RBI Governor Shaktikanta Das on March 22, 2023.

PM Modi’s ninth Odisha visit since 2024

The October 25 programme is expected to be Prime Minister Modi’s ninth visit to Odisha since the BJP government was formed in the state in 2024, according to Odisha BJP vice-president Jatin Mohanty.

Chief Minister Mohan Charan Majhi and Chief Secretary Anu Garg have reviewed preparations for the Prime Minister’s scheduled visit.

The inauguration is part of efforts to strengthen Odisha’s digital infrastructure. The project is also expected to support the state’s ambitions in technology and electronics manufacturing, as stated by the BJP leader.

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