Sitharaman Prepares Landmark Budget After Wide-Ranging Consultations

Finance Minister Nirmala Sitharaman wrapped up pre-budget consultations with various stakeholders. The seventh budget, to be presented on July 23, aims to lay the groundwork for a developed India by 2047. Key figures from the finance ministry participated, and the input of over 120 invitees will be considered.

Finance Minister Nirmala Sitharaman has concluded comprehensive consultations with various stakeholders, including representatives from industry and social sectors, as part of the budget preparation exercise.

Sitharaman is scheduled to present her seventh Budget on July 23, marking the first full budget of the Modi 3.0 administration. This budget aimed at steering India towards becoming a developed nation by 2047.

Last month, President Droupadi Murmu, in her address to the joint session of Parliament, heralded the upcoming budget as a document poised to introduce historic steps and major economic decisions.

During her first address to the joint sitting of the 18th Lok Sabha, President Murmu emphasized the budget's potential to reflect the government's far-reaching policies and visionary outlook.

The Finance Ministry noted that the pre-budget consultations for Union Budget 2024-25, which began on June 19, concluded on July 5, 2024, involving over 120 invitees from 10 stakeholder groups, including experts from agriculture, trade, education, health, MSME, industry, financial sector, and urban development.

These sessions, chaired by Sitharaman, saw the participation of key ministry figures including Minister of State Pankaj Chaudhary, Finance Secretary T.V. Somanathan, Economic Affairs Secretary Ajay Seth, DIPAM Secretary Tuhin K. Pandey, Financial Services Secretary Vivek Joshi, and Revenue Secretary Sanjay Malhotra.

Sitharaman expressed her gratitude to all participants for their valuable input and assured that their suggestions would be meticulously examined and considered for the Union Budget 2024-25.

(With inputs from agencies.)