Difficulty: Easy
Correct Answer: the Ministry of Finance, Government of India
Explanation:
Introduction / Context:
This question focuses on an important policy document in India, the Economic Survey. The Economic Survey presents a detailed review of the performance of the Indian economy over the past year and provides an analytical base for the Union Budget. Knowing which institution is responsible for publishing this document is a common requirement in civil services and banking examinations.
Given Data / Assumptions:
Concept / Approach:
The Economic Survey is prepared under the supervision of the Chief Economic Adviser, who is an official in the Department of Economic Affairs. However, the document is formally brought out and published by the Ministry of Finance. It is tabled in Parliament before the Union Budget. Thus, while the Chief Economic Adviser plays a major role in writing it, the institutional responsibility for publication rests with the Ministry of Finance.
Step-by-Step Solution:
Step 1: Recall that the Economic Survey is linked closely to the Union Budget, which is the responsibility of the Ministry of Finance.Step 2: Recognise that the Chief Economic Adviser heads the team that drafts the survey but works within the Ministry of Finance.Step 3: The question is about which institution publishes the survey, not who authors it.Step 4: The Reserve Bank of India publishes its own reports, such as the Annual Report and various monetary policy statements, not the Economic Survey.Step 5: Therefore, the correct answer is the Ministry of Finance, Government of India.
Verification / Alternative check:
News reports each year mention the Finance Minister and the Chief Economic Adviser when the Economic Survey is released. The document itself is issued under the name of the Ministry of Finance and is available on the official website of that ministry. This clearly associates the publication responsibility with the Ministry of Finance rather than with other government departments or the central bank.
Why Other Options Are Wrong:
The Office of the Chief Economic Adviser is part of the Ministry of Finance and is not a separate publishing ministry. The Ministry of Home Affairs deals with internal security, law and order, and administration of some territories, not macroeconomic analysis. The Ministry of External Affairs handles foreign policy and diplomatic relations. The Reserve Bank of India is the central bank and publishes monetary and financial stability reports, but not the Economic Survey.
Common Pitfalls:
Some candidates choose the Chief Economic Adviser because of the strong personal association of that office with the Economic Survey. However, the question asks for the institution that publishes it, which is formally the Ministry of Finance. Others think of the Reserve Bank because it is heavily involved in economic policy, but its main publications are different. Reading the exact wording of the question carefully helps avoid such confusion.
Final Answer:
In India, the Economic Survey is published by the Ministry of Finance, Government of India.
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