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Finance ministry to begin pre-Budget consultations from Jan 4

The government this year advanced inter-ministerial consultations for the Budget by two months to ensure wider consultations.

By: ENS Economic Bureau | New Delhi | Updated: January 1, 2016 12:00:38 am

The finance ministry will commence pre-Budget consultations with various stakeholders starting January 4. The consultations will be held with representatives from the agriculture sector, trade unions, economists, industry groups and those from the social sector.

Finance Minister Arun Jaitley will meet representatives from agriculture sector and trade unions on Monday. He will hold pre-Budget consultation with economists and industry on January 6, followed by a meeting with Information Technology sector representatives the next day.

Financial sector regulators are slated to meet the finance minister on January 11, while a pre-Budget meeting with social sector representatives and banks and financial institutions is scheduled to be held on January 12.

The meetings will also be attended by Minister of State for Finance Jayant Sinha, Chief Economic Adviser Arvind Subramanian and NITI Aayog vice chairman Arvind Panagariya along with the ministry’s secretaries including Finance Secretary Ratan Watal, Economic Affairs Secretary Shaktikanta Das, Revenue Secretary Hasmukh Adhia, Financial Services Secretary Anjuly Chib Duggal and Disinvestment Secretary Neeraj Gupta.

This would be Jaitley’s third Budget, including the interim Budget of 2014, after taking charge as the finance minister.

Inter-ministerial and inter-departmental meetings were being held in the finance ministry over the last one month to firm up Budget estimates for 2016-17 and the revised estimates for the current financial year.

The Budget arithmetic exercise will be closely watched this year, especially after the lowering of growth projection for the Indian economy for this financial year to 7-7.5 per cent from 8.1-8.5 per cent announced in the Economic Survey in February 2015.

The government this year advanced inter-ministerial consultations for the Budget by two months to ensure wider consultations.

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