A flagship annual document of the Ministry of Finance, Government of India, the Economic Survey reviews the developments in the Indian economy over the previous twelve months, summarizes the performance on major development programmes, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session, tabled a day ahead of the Union Budget. With detailed analysis of recent developments--international, domestic, as well as sectoral--the Survey is the most authoritative and updated source of information on India's economy. This year, it analyses radical policy actions by the government, in particular, GST and demonetization, and advocates broader societal shifts for overcoming the meta-challenges like inefficient redistribution, weak state capacity, and ambivalence towards private sector and property rights. Embracing 'Big Data', the Survey produces the first-ever estimate of the flow of goods and people within the country, to assess the effectiveness of targeting of major current schemes.
Further, it brings to the fore a discussion on Universal Basic Income as a means of achieving social justice and economic productivity.
The Ministry of Finance is an important ministry within the Government of India, which looks after the financial affairs of the State of India and monitors various aspects of the country's economy. In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.