Questions

• The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.

• It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.

• It is the ministry's view on the annual economic development of the country.

Mercantilism was the principle that wealth of a nation comes from trading with other nations and also comes by imposing government regulations on all of the nation's economic interests.

The main principles of mercantilism:

• the country's wealth is determined by the amount of precious metals in the country,

• Wealth is created in business relations (International Trade)

• The goal is an active trade balance of trade,

• to serve protectionism, government subsidies and the issue of protective tariffs.