India, Jan. 26 -- In the early years of India's Independence, the country's most important policy documents were the five-year development plans published by the Planning Commission. As the Commission lost clout, and the finance ministry gained in importance, the ministry's pre-budget Economic Survey began garnering more and more eyeballs.

Over the years, the Survey has come up with several useful policy ideas and provocations, reshaping public discourse on key economic issues. For instance, the 2023-24 Economic Survey questioned the efficacy of trade and investment restrictions on China at a time when Sino-Indian relations were still frosty. The Survey argued that it might be better for India to let Chinese firms manufacture in the coun...