Budget 2023-24 Nirmala Sitharaman Meeting With State Finance Ministers

Budget Meeting Today: The Union Finance Ministry has called a...

Budget Meeting Today: The Union Finance Ministry has called a meeting of finance ministers of the states to invite suggestions and proposals from the states regarding the preparations for the General Budget 2023-24. Union Finance Minister Nirmala Sitharaman will chair the meeting. This meeting will be held at Vigyan Bhawan in New Delhi at 11 am today.

In the next year’s budget, special attention is expected to be given to the important issues of inflation, increase in demand, employment, bringing the economy on a continuous growth path of more than 8 percent. This will be Sitharaman’s fifth and last full budget before the general elections to be held in April-May 2024.

Finance ministers of all states will be in the meeting

Finance ministers of all the states will hold a meeting with the Union Finance Minister. Chhattisgarh Chief Minister Bhupesh Baghel will present his proposals on economic issues related to state interest. Harpal Cheema will attend the meeting from Punjab side. The Chief Minister of Haryana, who also holds the finance portfolio, will also participate in the meeting and give his suggestions. Along with this, Himachal Chief Minister Jairam Thakur will also be present in the meeting.

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why is the meeting important

According to a report published on livemint.com, an official told about the meeting on condition of anonymity that the ministers are expected to discuss the extent of utilization of Centre’s financial assistance to states for building infrastructure. Which is a key element of the Centre’s efforts in private investment. Apart from this, the meeting is likely to discuss the availability of new projects for funding under the 50-year interest-free loan to states for building infrastructure.

On Thursday, Nirmala Sitharaman held pre-budget meetings with representatives of the social sector, including business, service industries, health, education and rural development. Representatives of trade and industry demanded compliance relief and tax incentives. The Bengal Chamber of Commerce Industry, which was part of the meeting, said in a statement that there is an urgent need to increase the limit of personal tax exemptions and deductions.

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