Budget Session 2021 LIVE UPDATES: FM Nirmala Sitharaman to Present Economic Survey today; check all details here

Economic Survey 2020-21: Finance Minister (FM) Nirmala Sitharaman will present the Union Budget 2021 on 1 February 2021. This is one of the most anticipated budgets as has been indicated by the FM herself not seen in 100 years. This is expected to set the tone of how India recovers from the COVID-19 pandemic.

This year, the FM will table it in Parliament on 29 January 2021 which is a Friday — two days before she presents the Union Budget for 2021-22 on 1 February. The Economic Survey is authored by Chief Economic Adviser (CEA) Krishnamurthy Subramanian and his team. The survey is prepared by the country's Chief Economic Advisor and tabled in both houses of Parliament.

The Economic Survey is flagship annual document that reviews the development of the country's economy in the past year and provides an in-depth preview of the budget. It is being said that this year, the Economic Survey 2020-21 holds special importance as it will be released in the backdrop of the coronavirus pandemic and an economic slowdown.

This year's Budget and Economic Survey is also unprecedented in a manner that it will be completely paperless. This is a first in Indian history of Budget Speeches. The Economic Survey is made public after a stamp of approval by the Finance Minister. After presentation of the Survey, CEA Krishnamurthy Subramanian and his team will hold a press conference and discuss the document, as is customary.

Meanwhile, 19 opposition parties have decided to Boycott the President's address.

Every year, the Economic Survey is presented on January 31 but this year it will be on January 29. The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1. The Budget session will be held in two parts -- January 29 to February 15 and March 8 to April 8 and will have a total of 33 sittings. With a view to have a paperless Budget, all the documents and the Economic Survey would be made available online soon after the authenticated copies are laid on the table of Lok Sabha.

10.00 AM: The Economic Survey has three parts -- Volume I, Volume II and Statistical Appendix.The Survey has two parts--one, one consists of the economic challenges that the country is facing and the second is the review of the year gone by.

10.05 AM: The Economic Survey 2020-21 comprises data on the performance of the economy in the past year, future challenges and the way forward. It is like a report card of India that provides detailed statistical data covering both microeconomics and macroeconomics.

10.06 AM: CEA to address a press conference on today at 2:30 PM in New Delhi after the presentation of Economic Survey 2020-21 by Finance Minister in Parliament.

Budget 2021: Everything you need to know - See Live UPDATES Here!

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.