Sitharaman holds meeting with economists as part of pre-Budget consulations

Finance Minister Nirmala Sitharman has chaired a pre-Budget meeting with leading economist for taking their inputs and suggestions for the upcoming Budget for 2025-26.

Finance Minister Nirmala Sitharaman chaired a pre-Budget meeting with leading economists to gather their inputs and suggestions for the upcoming Budget for 2025-26. The meeting was also attended by Union Minister of State for Finance P. Chaudhary, the Finance Secretary, DIPAM Secretary, Secretary of the Department of Economic Affairs, and the Chief Economic Advisor.

The meeting took place on Friday in the national capital. Further details about the discussions are not yet in the public domain. The Finance Ministry conducts several pre-Budget consultation meetings annually with experts, industry leaders, economists, and state officials. The formal exercise to prepare the annual Budget for the next financial year has already begun.

As in previous years, the Budget for 2025-26 is expected to be tabled on February 1. The 2025-26 Budget will mark Finance Minister Nirmala Sitharaman's eighth. All eyes will be on the key announcements and the government's forward-looking economic guidance for the remainder of the Modi 3.0 tenure.

Following the meeting, Ashwani Mahajan, Co-Convener of the Swadeshi Jagaran Manch, noted that economists were unanimous in their view that India requires its own comprehensive manufacturing policy. "We provided suggestions on food inflation, climate change, fiscal consolidation, and strategies for the agriculture sector. Suggestions were also made to reduce personal income tax," Mahajan told reporters.

Anil Sharma, an eminent economist who attended the meeting, highlighted unemployment as a critical issue. "We suggested setting up skilling universities at the district level. While this appears to be a state government initiative, if the Centre takes the lead, it could provide a significant boost to employment," Sharma said.

Some economists reiterated the need to reduce personal income tax. (ANI)

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