The J&K administration has initiated the process of preparing a first economic survey report after the abrogation of Article 370.
The last economic survey report was released in 2017 during the reign of the PDP-BJP government. At that time the economic survey report at that time gave a picture of the economic outlook along with losses incurred.
An economic survey is a report of the major economic developments that have taken place in the last one year and gives a glimpse of what is to come ahead in the short to medium term. It essentially lays the groundwork for the presentation of the Budget.
According to the official press release by J&K Finance Department, the Finance Commissioner will head the committee which has been assigned to prepare the draft of the economic survey of 2020 and to submit it before the expert level committee. The expert committee has been directed to release the economic survey report with the budget of J&K.
The budget of J&K during the fiscal year of 2020-21 was estimated at 1.20 lakh crore rupees. Now we have to wait for the budget session to know what will be the budget for the year 2021-22.
