On December 30, 2024, Union Finance Minister Nirmala Sitharaman chaired the fifth Pre-Budget Consultation meeting in New Delhi with industry representatives, in preparation for the forthcoming Union Budget 2025-26. The consultation aimed to gather insights and feedback from key industry leaders across various sectors to help shape the upcoming budget, ensuring it aligns with the economic priorities of the nation.
The meeting was attended by prominent figures from industries such as manufacturing, services, infrastructure, and trade, who shared their perspectives on critical areas like growth, employment, and fiscal policies. During the discussions, industry representatives emphasized the need for measures that could drive economic growth, enhance investments, and create job opportunities, particularly in the wake of the ongoing global economic challenges.
Finance Minister Nirmala Sitharaman highlighted that the Government is keen to incorporate industry feedback into the budgetary proposals, with a focus on fostering a robust economic recovery post-pandemic. She acknowledged the challenges faced by various sectors and reiterated the Government’s commitment to creating a conducive environment for business growth, improving ease of doing business, and boosting domestic and foreign investments.
The pre-budget consultations are a crucial part of the budget preparation process, where the government seeks to gather suggestions and opinions from various stakeholders before finalizing the budgetary proposals. This year's consultations are expected to play a significant role in formulating strategies that address sector-specific concerns while keeping the overall economic stability intact.
The meeting was followed by a series of other pre-budget consultations with various other groups, including agriculture, education, and social welfare representatives, as the government aims for a comprehensive and inclusive budget that caters to the needs of all sections of society.
With India’s economy showing signs of resilience, the Union Budget 2025-26 is being closely watched for its measures to support sustained growth, fiscal consolidation, and overall economic prosperity.
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