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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.

Entertainment

Santosh, UK’s official Oscar entry, banned from release in India

Sandhya’s dedication to her work and the issues it represents remains steadfast, as she navigates the complexities of censorship and strives to maintain the integrity of her film amidst these challenges.

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British-Indian filmmaker Sandhya Suri’s thought-provoking film, “Santosh”, is facing significant hurdles in obtaining a theatrical release in India due to the Central Board of Film Certification (CBFC) demanding substantial cuts.

The board has specifically objected to the film’s representation of police conduct as well as its exploration of sensitive societal issues, such as caste discrimination and police brutality, which are central to the film’s narrative.

In an interview, Sandhya expressed her deep disappointment, stating, “I was eager for the film to be released in India, and I explored various options to accommodate their requests. However, the extent of the cuts required ultimately made it impossible to maintain the film’s coherence or stay faithful to its original vision.”

She emphasized that the censorship board’s demands were not merely about minor adjustments; they were so extensive that they would compromise the film’s essence.

For Sandhya, the integrity of “Santosh” is paramount. She noted that complying with the proposed changes would effectively strip the film of its original message and vision, rendering it unrecognizable. The film is particularly significant, featuring an entirely Indian cast and presented in Hindi, the predominant language of North India, which underscores its cultural roots. Interestingly, when the filmmakers initially submitted the script for approval to shoot, they encountered no objections, and the largest cinema chain in India had already agreed to distribute the film as of January.

Santosh premiered at the esteemed Cannes Film Festival, where it received widespread acclaim, highlighting its powerful storytelling and cultural relevance. It was submitted as the UK’s official entry for the Oscars in the International Feature category, showcasing its international appeal. Additionally, the film earned a nomination for Best Debut Feature at this year’s BAFTA Awards, further solidifying its recognition on a global stage.

Sandhya’s dedication to her work and the issues it represents remains steadfast as she navigates the complexities of censorship and strives to maintain the integrity of her film amidst these challenges.

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Entertainment

Ben Affleck opens up on Batman role, reveals his son was scared of Batman films

In a candid interview, Ben Affleck called his Batman role in the DCEU ‘excruciating’ and revealed that even his son was too scared to watch the dark-toned films.

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Ben Affleck, once the most high-profile actor to wear the cape and cowl as Batman in the DC Extended Universe (DCEU), has candidly admitted that his time as the Dark Knight was far from enjoyable. In a new interview with GQ, Affleck called the experience “excruciating,” citing misaligned visions and a personal loss of interest in superhero films.

Affleck, who starred in Batman v Superman: Dawn of Justice, Justice League, and made appearances in other DCEU titles, never got the chance to make his much-anticipated solo Batman film, which he was also set to direct. Reflecting on that period, he said, “There are a number of reasons why that was a really excruciating experience… a lot of it was misalignment of agendas, understandings, expectations.”

He admitted that he too bore responsibility, stating, “I wasn’t bringing anything particularly wonderful to that equation at the time, either. I had my own failings, significant failings, in that process and at that time.”

Affleck says the darker tone alienated younger audiences, including his son

The Oscar-winning actor shared that the darker, more mature tone of the DC films further distanced him from the genre. Notably, even his own son was unable to watch the films because of their intensity.

“It started to skew too old for a big part of the audience. Like even my own son at the time was too scared to watch the movie. And so when I saw that I was like, ‘Oh shit, we have a problem,’” Affleck said.

He explained how creative differences between the filmmakers and studio also made the process difficult. “Then you have two entities, two people really wanting to do something different and that is a really bad recipe,” he added.

From Batman to The Accountant 2

Affleck debuted as Batman in 2016’s Batman v Superman: Dawn of Justice, starring alongside Henry Cavill. His stint also included appearances in Suicide Squad and Justice League. Plans for a solo Batman film under his direction never materialized, and the DCEU eventually folded in 2023.

The actor is now focused on other projects, with his upcoming film The Accountant 2 set for release next month.

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India News

Airtel launches IPTV service across 2000 cities with plans starting at Rs. 699

Airtel has launched IPTV services across 2000 Indian cities, offering bundled OTT apps, Wi-Fi, and 350+ TV channels, starting at Rs. 699 per month.

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Bharti Airtel has rolled out its new IPTV service in over 2000 cities across India, aiming to provide users with a unified entertainment experience through the large screen. The service, which includes bundled Wi-Fi, OTT apps, and live TV channels, is available for both new and existing Airtel broadband users, starting at Rs. 699 per month.

How to access Airtel IPTV

New subscribers can get started by purchasing a new Airtel Wi-Fi plan through the company’s website or by visiting a nearby store.
Existing Airtel Wi-Fi users have the option to upgrade to IPTV services via the Airtel Thanks app or by heading to any Airtel store.

Features and plan details

Airtel’s IPTV offering includes access to more than 600 live TV channels and a wide catalog of on-demand content from 29 leading OTT platforms such as Netflix, Amazon Prime Video, Apple TV+, SonyLIV, and ZEE5.

The company is also offering up to 30 days of free service as part of an introductory promotion, claimable through the Airtel Thanks app.

Tariff details:

PlanWi-Fi SpeedOTT PlatformsTV Channels
Rs. 69940 Mbps26 apps350 channels
Rs. 899100 Mbps26 apps350 channels
Rs. 1099200 Mbps28 apps (incl. Apple TV+, Prime)350 channels
Rs. 1599300 Mbps29 apps (incl. Netflix, Apple TV+, Prime)350 channels
Rs. 39991 Gbps29 apps (incl. Netflix, Apple TV+, Prime)350 channels

Availability and rollout plans

Currently, the service is accessible across most of India, except in Delhi, Rajasthan, Assam, and the Northeastern states, where it will be introduced in the coming weeks. Airtel confirmed that more rollout updates will be shared shortly.

Siddharth Sharma, CEO – Connected Homes and Chief Marketing Officer at Bharti Airtel, shared his views on the launch, emphasizing the company’s commitment to delivering an enhanced viewing experience for Indian households.

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