FM Sitharaman to hold pre-Budget consultations in two sessions tomorrow

Union Finance Minister Nirmala Sitharaman will chair pre-Budget consultations with stakeholders from various sectors in two sessions tomorrow in New Delhi in connection with the forthcoming General Budget 2022-23, the Finance Ministry said on Thursday. The meetings are being held virtually.

Sitharaman will be holding consultations with representatives of Services and Trade sector in forenoon and with second group of experts from Industry, Infrastructure & Climate Change in the afternoon, the ministry added.

Earlier today, Sitharaman met infrastructure and financial sector stakeholders virtually as part of pre-Budget deliberations.

The upcoming Budget will be the 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).

The Budget 2022-23 is likely to be presented on February 1 during the first half of Parliament's Budget session which usually begins in the last week of January every year.