Finance Minister Nirmala Sitharaman will hold a meeting with state finance ministers on Thursday as part of the traditional pre-budget consultations with various stakeholders. According to sources, a meeting will be held at Vigyan Bhawan here on December 30.
This is going to be a physical meeting unlike the others held earlier this month. Budget 2022-23 is likely to be presented on February 1 during the first half of the budget session of Parliament which usually begins in the last week of January every year.
Sitharaman has held meetings with industry stakeholders, financial sector players, trade unions, agriculturists and leading economists during which suggestions were made regarding rationalization of income tax slabs, infrastructure status for digital services and incentives for hydrogen storage. were go. According to the Finance Ministry statement issued last week, eight such meetings were held between December 15 and December 22. Over 120 invitees representing seven stakeholder groups participated in the eight meetings scheduled during this period.
This will be the fourth budget of the Modi 2.0 government and Sitharaman. The budget will come in the backdrop of the gradual recovery in the Indian economy hit by the COVID-19 pandemic. The growth rate is expected to be in double digits in the current financial year. The RBI in its latest bi-monthly monetary policy review has projected GDP growth at 9.5 per cent in 2021-22.
The government has projected a fiscal deficit of 6.8 percent of the gross domestic product (GDP).