New Delhi: Union Finance Minister Nirmala Sitharaman will hold a pre-budget consultation meeting with state finance ministers at Vigyan Bhawan at 11 am today. This meeting is a part of a series of meetings organized by FM Sitharaman with various stakeholders ahead of Budget 2022-23.
TeaUnlike the previous virtual meetings, his meeting of finance ministers will be a physical meeting. The budget for the financial year 2022-23 is likely to be presented on February 1 in the first part of the budget session of Parliament which usually begins in the last week of January.
According to a press release by the Finance Ministry, the Union Finance Minister has already held meetings with stakeholders from industries, trade unions, financial sector players, agriculturists and leading economists.
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In those meetings, suggestions were made ranging from rationalization of income tax slabs, infrastructure status for digital services to incentives for hydrogen storage. Eight such meetings took place between December 15 and 22.
These meetings were attended by over 120 invitees who represented seven stakeholder groups during this time period.
This is the fourth budget in the second term of the NDA government. Simultaneously, it comes in the backdrop of the Indian economy recovering from the pandemic.
As per the latest bi-monthly monetary policy review by the Reserve Bank of India, the expected growth in this financial year 2020-21 was 9.5 which raises expectations of double digit growth in the coming year. Meanwhile, the government has projected a fiscal deficit of 6.8 per cent of the gross domestic product (GDP).
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