Pre-Budget Meeting with Industry Chambers on June 20
By Rediff Money Desk, New Delhi Jun 16, 2024 20:04
Finance Minister Nirmala Sitharaman to hold pre-budget consultations with industry chambers on June 20, ahead of the 2024-25 budget presentation in Parliament.
New Delhi, Jun 16 (PTI) Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said.
The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July.
Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda.
The finance minister will have to look at measures to boost growth without hurting inflation as well as look for resources to meet the coalition government's compulsion.
The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047.
The Indian economy is projected to grow 7.2 per cent in the current fiscal on the back of improving rural demand and moderating inflation, as per RBI estimates.
The Modi 3.0 government inherits a strong economy with fiscal prudence in place. Icing on the cake is a bonanza from RBI which has announced the highest-ever dividend of Rs 2.11 lakh crore for FY24.
The key policy priorities for the third term of Prime Minister Narendra Modi-led government would include dealing with stress in the agriculture sector, job creation, sustaining capex momentum and pushing revenue growth to stay on the fiscal consolidation path.
Rating agency S&P has already given a thumbs up to economic policies followed by the Modi regime in the past 10 years by upgrading the sovereign rating outlook to positive. It also hinted at a possible rating upgrade in next 1-2 years provided the government sticks to its fiscal deficit roadmap.
While tax revenues seem to be buoyant, non-tax revenue remains a challenge as strategic disinvestment has almost been a non-starter with no big-ticket strategic sale, except Air India.
The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July.
Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
The 2024-25 Budget is likely to lay out Modi 3.0 government's economic agenda.
The finance minister will have to look at measures to boost growth without hurting inflation as well as look for resources to meet the coalition government's compulsion.
The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047.
The Indian economy is projected to grow 7.2 per cent in the current fiscal on the back of improving rural demand and moderating inflation, as per RBI estimates.
The Modi 3.0 government inherits a strong economy with fiscal prudence in place. Icing on the cake is a bonanza from RBI which has announced the highest-ever dividend of Rs 2.11 lakh crore for FY24.
The key policy priorities for the third term of Prime Minister Narendra Modi-led government would include dealing with stress in the agriculture sector, job creation, sustaining capex momentum and pushing revenue growth to stay on the fiscal consolidation path.
Rating agency S&P has already given a thumbs up to economic policies followed by the Modi regime in the past 10 years by upgrading the sovereign rating outlook to positive. It also hinted at a possible rating upgrade in next 1-2 years provided the government sticks to its fiscal deficit roadmap.
While tax revenues seem to be buoyant, non-tax revenue remains a challenge as strategic disinvestment has almost been a non-starter with no big-ticket strategic sale, except Air India.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Standard Capital
- 1.50 ( -0.66)
- 32690665
- Vodafone Idea L
- 9.19 (+ 0.99)
- 24473020
- Srestha Finvest
- 0.81 ( -4.71)
- 23378893
- Spicejet Ltd.
- 66.86 (+ 1.75)
- 11372460
- Rajnish Wellness
- 3.02 (+ 3.78)
- 10282610
MORE NEWS
Avaada Energy Refinances Rs 597 cr Solar Projects
Avaada Energy secures Rs 597 crore refinancing from NIIF IFL for its solar projects in...
Hyundai Motor India IPO Subscribed 9% on Day 1...
Hyundai Motor India's IPO, India's largest, received 9% subscription on Day 1. The Rs...
Soybean Production Surges 6% to 126 Lakh Tonnes...
Soybean production in India has risen to 126 lakh tonnes due to favorable weather and...