Home / Economy / FM Sitharaman concludes pre-Budget consultations

New Delhi: Finance minister Nirmala Sitharaman on Monday concluded the pre-Budget meetings for the upcoming Union Budget 2023-24, speaking to representatives and stakeholders from various sectors for their suggestions.

This year, the meetings were conducted in virtual mode from 21-28 November. More than 110 invitees representing seven stakeholder groups participated in eight meetings scheduled during this period.

“The stakeholder groups include representatives and experts from agriculture and agro processing industry; industry, infrastructure and climate change; financial sector and capital markets; services and trade; social sector; trade union and labour organisation and economists," a release from the Ministry of Finance said.

The representatives of the stakeholder groups made a number of suggestions for the forthcoming budget that included mechanism for green certification to help MSMEs , urban employment guarantee programme to boost employment generation in urban areas, rationalisation of income tax, creation of innovation clusters, schemes for improving domestic supply chains,

The other suggestion includes reduction of taxes on electric vehicle, introduction of EV policy, measures to promote India as a hub for Green Hydrogen, Social Sector Entrepreneurship Fund for Social Impact Companies, Training and Accreditation of Care Economy Workers, portable social benefit for children, National Regulatory Authority for Water and Sanitation, coverage of unorganised workers under ESIC, continuation of Public Capex, fiscal consolidation and lower customs duties, among others.

Sitharaman thanked the participants for sharing their valuable suggestions and assured that the suggestions will be carefully considered while preparing the Budget 2023-24, it added.

The meetings were also attended by Ministers of State for Finance Pankaj Chaudhary and Bhagwat Kishanrao Karad, secretaries from various departments of finance ministry, other senior officers from the ministry, secretaries of other ministries and departments, among others.

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