Gist of Economic Survey 2020-2021: Volume-1

The Ministry of Finance presented the Economic Survey 2020-2021 that details the state of the economy ahead of the government's budget for the fiscal year 2021-22. The Economic Survey 2020-2021, authored by a team led by chief economic adviser (CEA) Krishnamurthy V Subramanian, focused on the state of different sectors of the economy, the effect of the coronavirus pandemic as well as reforms that need to be taken.

Importance of Economic Survey

  • The Economic Survey assumes greater significance for UPSC aspirants as it not only lays the premise for key policy decisions that need to be taken to take the economy forward but also assesses the impact of the previous decisions through detailed statistical data.
  • It provides aspirant major government initiatives with explanations which enable them to tackle all the dynamic and theoretical questions.
  • The data and key policies given in the Survey are of great importance for UPSC Civil Services Examination.However, it is suggested for the aspirant to not to get too involved as they may get directionless and waste time.
  • Thus, we at GS Score are committed to provide a crisp summary and the right approach to the Survey which is relevant both for Prelims and Mains.
  • This gist of Economic Survey discusses all the major government initiatives with explanations which can help aspirants to tackle all the dynamic and theoretical questions.
  • This gist is essential to build an in-depth understanding of various issues. From the exam point of view, however, not all articles are important. Some go into scholarly depths and others discuss agendas that are not relevant for your preparation. Added to this is the difficulty of going through a large volume of information, facts and analysis to finally extract their essence that may be useful for the exam
  • Students can imbibe actual phrases used in the Economic Survey to frame answers for UPSC Mains Examination.

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