‘Economic Survey 2016-17’ is an annual documentation by the Ministry of Finance, Government of India, the Economic Survey 2016-17 reviews the developments of Indian economy over the previous twelve months, reviews the performance of major development programs held during these years, and highlights the new policies of the government and the prospects of the economy in the short to medium term.
The document contains the detailed analysis of recent developments including national, international, domestic, and sectoral, the Survey is the most authoritative and updated source of information on Indian economy. This year, it analyses radical policy actions by the government, particularly, GST and demonetization, and advocates broader societal shifts for overcoming the meta-challenges like weak state capacity, inefficient redistribution, and ambivalence towards the private sector and property rights. Further, it brings to the fore a discussion on Universal Basic Income as a means of achieving social justice and economic productivity.
This document is presented to both houses of Parliament during the Budget Session, tabled a day ahead of the Union Budget.The document serves for both to cover up the drawback of previous year policies and to make reforms in future for more profits of advancements.