The Economic Survey was tabled by Finance Minister Nirmala Sitharaman ahead of the Modi government 2.0's first budget on Friday. The survey was outlined by the new Chief Economic Advisor (CEA) Krishnamurthy Subramanian, who, in his address, mentioned that the survey is inspired by Gandhiji's talisman.
Referring to this he said:
"Think of the weakest person and see how your policy will apply to him." he said, quoting Gandhi
Subramanian said that the survey can be accessed by the common person. He also brought up the key principles of behavioral economics. As per the CEA, the principles have been applied for a transformational behavioral change in the country. Citing Mahatma Gandhi's upcoming 150th birth anniversary, Subramanian brought up Gandhiji's message:
"Be the change that you want to see in the world."
The CEA further stated that these principles were made vis-à-vis Gandhi's seven social sins which he urged everyone to refrain from engaging in. These seven priciples are Politics without principle, wealth without work, pleasure without conscience, knowledge without character, commerce without morality, science without humanity and worship without sacrifice. In addition, Subramanian also highlighted the following on the account of the 75th year of independence,
"I think we are ready to start taking into account the fact that our duties matter a lot and as citizens we owe it to the country."
Here's what the survey says:
The Economic Survey is a survey that shows the challenges and gives a detailed insight of economic performance of the country. The survey is divided into two parts where one part consists of commentary on the status of the economy, which is released before the Union Budget and the other part carries key economic statistics and data. This split in the presentation took effect after the Union Budget was moved from the last working day of February to the first day of the month in 2017. The Economic Survey serves as a useful policy document since it also contains policy ideas, key statistics on economic parameters and in-depth research on macro and sectoral trends. Often, the survey serves as a policy guideline for the Union Budget.