New Delhi: Union Finance minister Nirmala Sitharaman will meet her counterparts from the states on Thursday, December 30 as part of the customary pre-budgetary consultations. Reportedly, it will be a physical meeting, unlike other pre-budget consultations with stakeholders, which were held virtually till now.
The union budget for 2022-23 is expected 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. Till now, the finance minister has held consultations with representatives from the financial sector, labour unions, industries and agriculture. She has also met leading economists to discuss the union budget.
Suggestions ranging from rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage among many others, have been received by the government during these interactions. It will be the fourth budget of NDA government in its second tenure and it is coming in the backdrop of the economy trying to recover from the Coronavirus impact.
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).