With reference to the Economic Survey, consider the following statements: 1. It is prepared under the guidance of the Chief Economic Adviser of India. 2. The document is binding in nature and was first presented in 1964. 3. It gives an outlook on India's GDP growth, inflation rate and projection, forex reserves, and trade deficits. Which of the statements given above are correct? |ForumIAS

Q. With reference to the Economic Survey, consider the following statements:
1.It is prepared under the guidance of the Chief Economic Adviser of India.
2.The document is binding in nature and was first presented in 1964.
3.It gives an outlook on India’s GDP growth, inflation rate and projection, forex reserves, and trade deficits.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C

Notes:

Explanation –

Statements 1 and 3 are correct. The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs (DEA) under the guidance of the Chief Economic Adviser. It provides an outlook on various economic indicators, including GDP growth, inflation rate, foreign exchange reserves, and trade deficits.

Statement 2 is incorrect. The Economic Survey is not a binding document. It serves as an advisory document offering analysis, insights, and recommendations, but it doesn’t have any legal mandate or binding force on the government. The first Economic Survey was presented in 1950-51.

Source: DNA

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