Budget is a mammoth document that is not easy to read and understand. Economic Survey is a document that contains certain points which are covered under the Union Budget. It is an annual document made by the Finance Ministry. It highlights the growth of the economy and the government policy enterprises and is presented parliament (both houses) a day before the presentation of the Union Budget. In 1950-51 India’s first Economic Survey was presented. It is a document carrying suggestions of problems related to the economy and technocrat advice to the government. It is important to document for exam and it gives authentic as well as updated information about sectors related to the industry, banking, agriculture, etc., but reading, learning and using the information provided in the survey is a challenging task.

The budget is a survey of the Indian economy over the past year. It condenses the presentation of significant advancement projects and features the strategy activities of the legislature of India. It gives a point by point record of the condition of the economy, possibilities and approach difficulties. The overview's viewpoint fills in as a marker about future arrangement moves. The Economic Survey extends the official variant of the condition of the economy and is for the most part introduced in Parliament daily before the introduction of the Annual Budget.

There are some tips which will help in remembering the survey:

Focus only on trends and patterns rather than numbers as they are not much important. Read the first chapter with precise as the chapter contains brief summary of the survey as a whole.

Do not read the complete survey in one day. If one is not from commerce background the first read microeconomics book of NERT to better understand the survey report.

Divide it into different parts:
It will be more effective and best way to remember the survey when it is divided into different sections and sections should contain particulars of different sector and facts, such as Society, Role of women, Urbanization, Social Empowerment, etc.
As part of section-I, section II may contain details related to Welfare schemes and analysis, Schemes for sectors at risk, Human resource, Government initiatives, Malnutrition, poverty, Hunger, etc., in section III other sectors such as Agriculture, sustainable tech initiatives, Subsidy issues, Macroeconomics tangibles and intangibles, Poverty Alleviation and Employment Generation in India, Sustainable Development and Environmental issues, Industrial and Labor Policy, Monetary and Fiscal Policy, Balance of Payments, Export-Import Policy, WTO, Demographic Trends, Urbanization and Migration, Gender Issues, Social Justice: Positive Discrimination in favor of the under privileged, Human Development, Health and Education, The Union Budget – Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM), etc., and such other topics which are included as syllabus. No one can grasp the reading part if read just once so revise the topics at least twice and make notes so that it will be easy to remember during revisions. Prioritize graphs, charts, and plots and select only important things out of these. Avoid information which is useless; make simple notes in simple language, take note of policies and schemes disclosed in survey.

Around 40–45 questions in ESI (Economics and Social Issues) paper are asked directly or indirectly in the exam from budget and economic survey. It is a document with governments’ schemes or programs and current policies which help the aspirant in writing meaningful theory or essays in the exam. Union Budget is also a report which details about an estimate of income and expenditure of the government for a year (fiscal year from Apr-Mar or a calendar year Jan-Dec) given.



To grasp the fundamentals knowledge of macro-economy and the structure Indian Economy the survey is very helpful. All important terms and data related to the economy are there. The economy is deeply analyzed in a survey. Major trends are discussed in the survey with charts, data and are compared with developing and developed economies which helps in the preparation of descriptive papers and also improves interview skills. For better understanding and forming an opinion about Indian and global economy survey assists and also aid in learning how the government makes their decisions in the current situation as macro-economic does not have any standard theory which could be applied in all situations. The decision made every time is unique in every situation. Introduction of Chapter and summaries also stimulates the presentations as this advice review quickly the concepts. Mostly questions are asked from economy and demographic or social trends from chapter Monetary Policy as this chapter details in major data of the economy.

Why is economic survey and budget important?

The Economic study is a fundamental report for focused assessment particularly for UPSC and RBI. 30 – 40 inquiries are straightforwardly or in a roundabout way posed in CSE (Mains) and RBI (Mains for ESI paper). It contains profound information on the present approaches and projects of the legislature that causes a competitor to compose important expositions in CSE and RBI Exam. What's more, the greater part of the inquiries in the CSE Main test General investigations paper-III are from financial overview and Macroeconomics. What's more, from 2011, around 7-8 out of 20 inquiries are legitimately identified with the monetary study. Correspondingly in RBI Mains test ESI paper contains 40-45 inquiries from study and spending chief. Thus Union Budget is a gauge of pay and consumption for a given year. It could be a financial year (Apr-Mar) or a schedule year (Jan – Dec). This simply talks about the financials of every advancement territory of India.

Things to Remember while Reading Economic Survey and Budget

1. Peruse First Chapter-Read-
First part cautiously in light of the fact that this section contains a brief synopsis of the entire study. Also, you can without much of a stretch recognize the part you have to concentrate on your up and coming tests.

2. Concentrate on Basic phrasing-
Know and comprehend the fundamental wording of Economics. Since numerous inquiries posed to dependent on phrasing like as in security trade SEBI assumes a significant job in the Indian Economy then what does I rely on. On the off chance that you are tenderfoot than before reading study once experience the NCERT Macroeconomics that will be useful to comprehend the overview.

3. Partition it in various part-
The best and effective approach to peruse study is to isolate it in various segments and each area contains diverse segment realities. Like on the off chance that you are planning for UPSC, at that point isolate entire review for three segments.

Segment 1- Society, Role of ladies, Urbanization, Social Empowerment and so forth.
Segment 2- Welfare plans and their investigation, Schemes for defenseless segments, Government activities, Human assets, Hunger, Malnutrition, destitution, and so on.
Segment 3- Agriculture, Subsidy issues, practical tech activities, Macroeconomics physical assets, and intangibles, and so forth. Also, more subjects that are remembered for your prospectus and asked in tests.
4. Mug up all stuff that is in boxes-
This is most significant you should mug up all the stuff that is in boxes on the grounds that multiple occasions question the stuff put in the case have been straightforwardly asked in tests. So read them appropriately.

5. Peruse it at any rate multiple times-
As we probably are aware we are not Einstein or Newton that just one perusing can recollect entire life. It isn't imperative to peruse the review over and over on the grounds that the time has come devouring. So as I recently said on the off chance that you separate it into segments and make your own notes, at that point just that notes will be useful. So as opposed to perusing the entire review readjust your own notes over and over will be less tedious and effectively critical.