Key Insights from Nirmala Sitharaman Pre-Budget Consultations

Nirmala Sitharaman Pre-Budget Consultations

Nirmala Sitharaman Pre-Budget Consultations: As Finance Minister Nirmala Sitharaman is all set to announce the new Budget in the second or third week of July, Nirmala Sitharaman on Wednesday had a pre-budget discussion meeting with State’s Finance Minister Finance Pankaj Chaudhary, the finance secretary, staff of the departments of economic matters, revenue, finance, corporate affairs, and more, and economic consultants.

In a tweet by Nirmala Sitharaman on her X (Earlier known as Twitter) account, she said, “Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the first Pre-Budget Consultations with leading economists in connection with the forthcoming General Budget 2024-25 in New Delhi, today.”

She further said, “ The #PreBudget consultation meeting was also attended by Union Minister of State for Finance Shri @mppchaudhary ; Finance Secretary; Secretaries of Departments of Economic Affairs, Revenue, Financial Services and Corporate Affairs; and Chief Economic Adviser, Government of India.”

Finance Minister Nirmala Sitharaman will hold another pre-budget consultation meeting with the industry sector today, on June 20.

However, in the pre-budget meeting, the focus was on boosting growth, fiscal judgments, and jobs in India.

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Some of the key insights from the Pre-budget consultations say that the government will exercise its economic policy to improve the agriculture sector and job sector.

The Fiscal strategy also expects a stable capex incentive and boost revenue growth.

On June 20 Pre-budget consultations, Finance Minister Nirmala Sithraman's fiscal strategy focused on increasing the amount of income that is not taxed.

The government meetings have also said that they have raised revenue of ₹3.85 lakh crore by monetizing many assets of ministers and Public Sector Enterprises.

However, PM Modi plans to make India "Viksit Bharat" by 2047 and make India’s Economic growth worth USD 5 trillion in the future.

Thus, effective finance planning and economic policy are adopted to make sure the ambition is achieved.

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