Pre-Budget Consultation Meetings for Union Budget 2024-25 Conclude in New Delhi
Pre-Budget consultations for Union Budget 2024-25, chaired by Finance Minister Nirmala Sitharaman, concluded with stakeholders urging tax cuts on farm equipment and enhanced allocations for agricultural research.
The Pre-Budget consultations for Union Budget 2024-25 which started on June 19, concluded on July 5. The meetings were chaired by Finance Minister Nirmala Sitharaman. During the usual consultations, more than 120 invitees from 10 stakeholder groups including experts and representatives from farmer associations, trade unions, education and health sector, MSME, trade and services as well as infrastructure, energy and urban sectors participated.
The Ministry of Finance said in a statement that Sitharaman expressed gratitude to the participants for sharing valuable suggestions and assured them that their suggestions would be carefully examined and considered while preparing the Union Budget.
The budget 2024 is set to be presented in parliament on July 23. This will be the first full budget of Modi 3.0 which is going to set the path for Vikshit Bharat (developed India) by 2047.
According to an official release, Pankaj Chaudhary, Minister of State for Finance, V. Anantha Nageswaran, Chief Economic Adviser, T.V. Somanathan, Finance Secretary, and other secretaries of finance ministry departments, including Ajay Seth, Tuhin Pandey, Vivek Joshi and Sanjay Malhotra were among those present at the consultations.
The release said that the finance minister will carefully examine and consider suggestions while preparing the Union Budget 2024-25. During the consulations, farmers' associations and agricultural economists urged the government to cut taxes on farm equipment and increase allocations for agricultural research and development. They sought increased allocations to strengthen the Agricultural and Processed Food Products Export Development Authority (APEDA), a government export-trade promotion body.
Leaders of trade and services businesses appealed to the finance minister to improve the ease of doing business for the service sector, make the transfer pricing regime more competitive, tighten tariffs placed on Chinese goods, and develop an Indian shipping line of global repute. In her address to the joint sitting of Parliament last month, President Droupadi Murmu said that many historic steps and major economic decisions will be taken in the upcoming budget session.
This budget will be an effective document of the government's far-reaching policies and futuristic vision, the President said in her first address to the joint sitting of Parliament since the constitution of the 18th Lok Sabha.
Show your support
Dear patron, thank you for being our reader. Readers like you are an inspiration for us to move Agri Journalism forward. We need your support to keep delivering quality Agri Journalism and reach the farmers and people in every corner of rural India.
Every contribution is valuable for our future.
Contribute NowDownload Krishi Jagran Mobile App for more updates on the Latest Agriculture News, Agriculture Quiz, Crop Calendar, Jobs in Agriculture, and more.