Finance Minister Gears Up for 2025-26 Budget Amid Economic Challenges

Finance Minister Nirmala Sitharaman held pre-Budget consultations with stakeholders from the financial sector and capital markets. With India's GDP growth rate slowing, Sitharaman's upcoming budget will focus on revitalizing the economy amid weak consumption and growth challenges. The Union Budget 2025-26 will be presented on February 1, 2025.

Finance Minister Nirmala Sitharaman on Thursday engaged in a pivotal round of pre-Budget consultations with key stakeholders in the financial sector and capital markets. In attendance were prominent figures such as the Finance Secretary and the Chief Economic Adviser.

Marking her seventh meeting in a series leading up to the Budget, the Finance Ministry is deep into its annual pre-budget preparations. These consultations include dialogues with experts, industry leaders, and economists. Prime Minister Narendra Modi also joined the effort, discussing strategies with top economists and thinkers at NITI Aayog.

This year's budget preparations come as India grapples with slower economic growth than forecasted. Despite a significant boost during the festive season, the Reserve Bank of India recently adjusted its growth expectations downward for the current fiscal year. The finance community awaits Sitharaman's eighth budget presentation on February 1, 2025, anticipating crucial economic directions.

(With inputs from agencies.)