D3 - 23rd July 2024

This video is about understanding the Indian Economic Survey and Budget. We break down the concepts into easy to understand parts and explain why these are important.

The speaker first explains what the Economic Survey is and its purpose. He mentions it is a document released by the government that analyses the previous year's economic performance and offers pointers for improvement. Key points from the Economic Survey covered in the video are challenges like attracting Foreign Direct Investment (FDI) and data deficiency.

The speaker then dives into the concept of the Union Budget. He explains the budget and what it tells us about the government's plans for spending and income. The video discusses how the budget impacts the common man and highlights aspects to look forward to in the upcoming budget.

Here are the key takeaways for understanding the Budget:

Tax revenue: How much extra income the government gets with a rise in GDP
Expenditure towards rural areas and businesses: How much the government spends on these sectors
Subsidy outgo: The amount the government spends on subsidies
Fiscal deficit: How much the government borrows
Overall philosophy of the budget: The government's priorities for the year

We have an upcoming Budget Session on 24th July 2024 at 5.30 pm at Mitras IAS, Old Rajinder Nagar - its an open session - all can attend offline / online,

Best,
Siddharth