In India, the Economic Survey that reviews the state of the economy is prepared by which institution in the Ministry of Finance?

Introduction / Context:
The Economic Survey of India is a key official document released every year just before the Union Budget. It provides a detailed review of how the economy performed during the previous year and highlights major policy challenges and reform options. Understanding who prepares this document is important for general knowledge, economics and civil services preparation. This question asks candidates to identify the specific institution within the Ministry of Finance that is responsible for preparing the Economic Survey.

Given Data / Assumptions:
- The focus is on the Economic Survey of India.
- It is prepared within the Ministry of Finance at the Union government level.
- Options are Department of Economic Affairs, Central Statistical Office, National Sample Survey Office and Office of the Economic Adviser.
- Standard Indian polity and economics facts are assumed.

Concept / Approach:
The Economic Survey is prepared under the guidance of the Chief Economic Adviser to the Government of India. The Chief Economic Adviser works within the Department of Economic Affairs in the Ministry of Finance. While other statistical and advisory bodies provide data and support, the formal responsibility for preparing the Economic Survey lies with the Department of Economic Affairs. This document analyses macroeconomic trends, sector wise performance and policy issues, and it serves as an important input for budget making and public debate.

Step-by-Step Solution:
Step 1: Recall that the Chief Economic Adviser is associated with the Ministry of Finance.
Step 2: Remember that the Chief Economic Adviser and the team operate within the Department of Economic Affairs.
Step 3: Recognise that the Economic Survey is described as being prepared by the Ministry of Finance under the Department of Economic Affairs.
Step 4: Compare this with the roles of CSO and NSSO, which mainly handle statistics and surveys, but are not officially credited as the primary authors of the Economic Survey.
Step 5: Select “Department of Economic Affairs” as the correct answer.

Verification / Alternative check:
In many introductions to the Economic Survey, the first page or preface often states that the survey has been prepared by the Economic Division of the Department of Economic Affairs under the overall guidance of the Chief Economic Adviser. Exam preparation books on Indian economy also repeat this fact. Therefore, when candidates see these options, they should link the Economic Survey directly with the Department of Economic Affairs in the Ministry of Finance, not with purely statistical offices like CSO or NSSO.

Why Other Options Are Wrong:
- Central Statistical Office (CSO): Plays a crucial role in compiling national accounts and statistical data, but it does not formally prepare the Economic Survey document itself.
- National Sample Survey Office (NSSO): Conducts large scale sample surveys on various socio economic issues, yet it is not the official author of the Economic Survey.
- Office of the Economic Adviser: This office is associated more with the Ministry of Commerce and Industry and prepares indices like the Wholesale Price Index, not the overall Economic Survey of India.

Common Pitfalls:
Because the Economic Survey is full of statistics, some students think that the main statistical agencies like CSO or NSSO must prepare it. However, those agencies primarily provide data. The actual analysis, structure, narrative and official publication are handled by the Department of Economic Affairs under the leadership of the Chief Economic Adviser. To avoid confusion, learners should always connect the Economic Survey with the Ministry of Finance and specifically with the Department of Economic Affairs rather than with the broader statistical machinery.

Final Answer:
The Economic Survey of India is prepared by the Department of Economic Affairs in the Ministry of Finance.