return to news
  1. Nirmala Sitharaman holds consultations with industry representatives in 5th pre-Budget meeting

Business News

Nirmala Sitharaman holds consultations with industry representatives in 5th pre-Budget meeting

Upstox

2 min read | Updated on December 30, 2024, 13:39 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Finance Minister Nirmala Sitharaman chaired the fifth pre-budget consultation with industry leaders in Delhi, as part of a series of discussions shaping the Union Budget 2025-26.

PTI12_26_2024_000262B.webp

Union finance minister Nirmala Sitharaman chairs the fifth Pre-Budget Consultation with industry representatives in connection with the forthcoming Union Budget 2025-26, in New Delhi.

Finance minister Nirmala Sitharaman on Monday chaired the fifth pre-budget consultation with industry representatives ahead of the Union Budget 2025-26. The meeting, held in the national capital, was attended by the finance secretary, secretaries of economic affairs, DIPAM, DPIIT, and the chief economic adviser.

The session is part of a series of stakeholder consultations aimed at shaping policies to promote industrial growth, improve access to healthcare, and strengthen India's education system. Sitharaman has been conducting these customary pre-budget meetings since December 6.

The consultations began with economists, who provided inputs amid concerns over the country's seven-quarter low GDP growth of 5.4% in Q2 FY24. Subsequent meetings involved farmer associations, agricultural economists, MSME representatives, and experts from trade and export sectors.

On December 20, Sitharaman chaired a meeting with state and UT representatives in Jaisalmer, Rajasthan, discussing state-specific needs. The minister remarked that because of a healthy macroeconomic environment, buoyancy and efficiency in the tax collections, the funds devolved to the States in the last 45 months under the 15th Finance Commission is more than what was devolved in 60 months under the 14th Finance Commission.

She also highlighted the Centre's efforts under the Scheme for Special Assistance to States for Capital Investment (SASCI), including an additional ₹30,000 crore allocation as untied funds for FY24-25.

In a recent meeting with export and trade stakeholders on December 26, discussions centred around policies to enhance exports and foreign investments.

Prime Minister Narendra Modi also held consultations with economists earlier this week, focusing on maintaining India's growth momentum amidst global uncertainties. Discussions at the meeting revolved around key issues such as navigating challenges posed by global economic uncertainties and geopolitical tensions, enhancing employment opportunities for youth, aligning education and training with job market demands, boosting agricultural productivity, and creating sustainable rural employment, the Prime Minister's Office said in a release.

The Union Budget 2025-26 is set to be presented in Parliament by Sitharaman on February 1, 2025.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story