Union Finance Minister Nirmala Sitharaman convened the fourth Pre-Budget Consultation meeting on Thursday, engaging with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26.
The Ministry of Finance announced the meeting via social media, stating, “Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the fourth Pre-Budget Consultation with the stakeholders and experts from export, trade and industry sectors in connection with the upcoming Union Budget 2025-26, in New Delhi, today.” The meeting was attended by Minister of State for Finance Pankaj Chaudhary, along with key officials including the Finance Secretary, Secretary of the Department of Economic Affairs, Secretary of the Department of Investment and Public Asset Management (DIPAM), and the Chief Economic Adviser to the Government of India.
Previous Consultations and Ongoing Preparations
Earlier this week, on Tuesday, Prime Minister Narendra Modi held discussions with a group of eminent economists and thought leaders at the NITI Aayog premises to gather insights for the upcoming budget. Additionally, on December 20, Sitharaman chaired a pre-budget meeting in Jaisalmer with finance ministers from various States and Union Territories. This meeting included Chief Ministers from Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha, as well as Deputy Chief Ministers from Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan, and Telangana.
Sitharaman has conducted a series of consultations with various stakeholders, including representatives from MSMEs, farmers’ associations, and economists. The Finance Ministry traditionally holds multiple pre-Budget consultation meetings with experts, industry leaders, economists, and state officials to inform the budget preparation process.
The formal exercise to prepare the annual budget for the next financial year is already underway, with the Budget for 2025-26 scheduled to be presented on February 1, 2025. This budget will mark Nirmala Sitharaman’s eighth budget presentation, and significant attention will be focused on key announcements and the government’s economic guidance for the remainder of the Modi 3.0 tenure.
