Finance Minister Concludes Pre-Budget Meetings For Union Budget 2023-24 The meetings were held in virtual mode between November 21 and November 28
By Teena Jose •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The week-long pre-Budget meetings with finance minister Nirmala Sitharaman concluded on Monday. The meetings were held in virtual mode between November 21 and November 28. In the meeting, the ministry received multiple suggestions from various industry experts.
According to a statement by the finance ministry, more than 110 invitees representing seven stakeholder groups which includes representatives and veterans from agriculture and agro-processing industry, infrastructure and climate change industry, financial sector and capital markets, services and trade, social sector, trade unions and labour organisations and economists, participated in eight meetings scheduled during this month.
The statement added that the stakeholder groups made a number of suggestions for the forthcoming budget that included urban employment guarantee programmes to boost employment generation in urban areas, green certificate to promote MSMEs, reduction of taxes on electric vehicle, introduction of EV policy and measures to promote India as a hub for green hydrogen, social sector entrepreneurship fund for social benefit for children, national regulatory authority for water and sanitation, coverage of unorganized workers under ESIC, continuation of public apex, fiscal consolidation and lower customs duties.
The finance minister thanked the participants for sharing their valuable suggestions and assured that suggestions would be carefully considered while preparing the budget 2023-24.
State finance ministers in their pre-budget consultation, stepped up their demand for more funds, a greater say in implementing centrally-sponsored schemes (CSS) and an increase in payments for royalty on minerals, according to an ET report.
The industry representatives put forward a keen focus on creating jobs, boosting domestic growth and consumption, and further rationalisation of taxes. They also pointed out the need to stick to fiscal discipline amid an uncertain global situation and high inflation, the report added.
