The Ministry of Finance announced the conclusion of the pre-budget consultation meetings for the Union Budget 2024-25, which were initiated on 19th June 2024 under the leadership of Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs. The series of consultations, aimed at gathering diverse stakeholder insights, wrapped up on 5th July 2024 in New Delhi.
During the extensive consultations, Minister Sitharaman engaged with over 120 participants representing various sectors, including agriculture, trade unions, education, health, MSMEs, and the financial sector. These discussions were held across 10 stakeholder groups and provided a platform for experts and industry leaders to present their recommendations and concerns directly to the policymakers.
The final consultation on 25th June was specifically dedicated to representatives from the trade and services sectors, highlighting the government’s focus on inclusive economic policies. The series of meetings facilitated by the Union Finance Minister were attended by other key figures such as Union Ministers of State for Finance, Shri Pankaj Chaudhary, and various secretaries from the economic and corporate sectors, ensuring a comprehensive governmental engagement.
Ms Sitharaman expressed her gratitude towards all participants for their invaluable contributions and assured them that their detailed suggestions would be meticulously considered in the formulation of the forthcoming General Budget. This commitment shows the government’s aim to integrate practical insights from various sectors into the policymaking process to foster robust economic growth and development.
As the Ministry of Finance gears up to draft the Union Budget 2024-25, the insights garnered from these meetings are set to play a crucial role in shaping economic strategies that aim to enhance productivity and ensure sustainable development across all sectors of the economy. The upcoming budget promises to reflect a blend of expert advice and practical solutions aimed at advancing India’s economic agenda on both domestic and global fronts.
