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Union Finance Minister Nirmala Sitharaman is chairing a pre-budget consultation meeting with finance ministers of states and union territories (UTs) today. The meeting is taking place at Vigyan Bhawan in the national capital.
Several chief ministers who hold finance portfolios are also attending the meeting.
Chief ministers who are present at the meeting include Chhattisgarh Chief Minister Bhupesh Baghel and Haryana Chief Minister Manohar Lal Khattar.
The Budget 2022-23 is likely to be presented on 1 February during the first half of Parliament's Budget session which usually begins in the last week of January every year.
Lieutenant Governor of Jammu & Kashmir Manoj Sinha is also attending the meeting.
The Union Finance Minister has held meetings with stakeholders of industries, financial sectors players, labour unions, agriculturists and leading economists during which suggestions were made about rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage.
The finance ministry in a statement issued last week said that eight such meetings were held between 15 December and 22 December and 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, the statement said.
Nirmala Sitharaman will be presenting her fourth budget of Modi 2.0 government.
The Budget would come against the backdrop of gradual recovery taking place in the Indian economy hit by the COVID-19 pandemic. The growth this fiscal year is expected to be in double-digit. The RBI in its latest bi-monthly monetary policy review pegged a GDP growth of 9.5 per cent in 2021-22. The government has projected a fiscal deficit of 6.8 per cent of the gross domestic product (GDP).
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