Prime Minister Narendra Modi on Thursday met eminent economists to gather insights and suggestions about the forthcoming Budget. BJP leader and Union Finance Minister Nirmala Sitharaman will present the Budget for 2024-25 in the Lok Sabha on July 23.
Besides economists and sectoral experts, Niti Aayog Vice Chairman Suman Bery and other members also attended the meeting. Finance Minister Sitharaman, Planning Minister Rao Inderjit Singh, Chief Economic Advisor V Anantha Nageswaran and economists Surjit Bhalla and Ashok Gulati and veteran banker K V Kamath among others were present in the meeting.
This Budget assumes critical importance as it marks the first major economic policy document under the Modi 3.0 administration, aimed at outlining a strategic roadmap to propel India toward developed nation (Viksit Bharat) status by 2047.
Last month, President Droupadi Murmu, in her address to the joint sitting of Parliament had said that the BJP-led NDA government would come out with “historic” steps to accelerate the pace of reforms. She also said the Budget will be an effective document of the government’s far-reaching policies and futuristic vision.
Sitharaman had held pre-Budget consultations with various stakeholders, including economists and captains of Indian industry, on the forthcoming Union Budget 2024-25 from June 19 till July 5. Over 120 invitees participated in these in-person meetings organized by the Ministry of Finance, representing diverse stakeholder groups such as farmer associations, trade unions, education, MSMEs, industry, economists, and sectors including infrastructure and energy.
Key attendees included Union Ministers of State for Finance Pankaj Chaudhary, Finance Secretary Dr. TV Somanathan, and Secretaries from various departments including Economic Affairs, DIPAM, Financial Services, Revenue, and Corporate Affairs. Chief Economic Adviser Dr. V. Anantha Nageswaran and senior officials from related ministries also contributed.
Ahead of the Union Budget, an interim Budget was presented by Sitharaman on February 1, in view of the Lok Sabha elections.