Finance Minister Nirmala Sitharaman has initiated pre-budget consultations for the Union Budget 2026-27. She met with leading economists in New Delhi to gather early inputs. This marks the beginning of a comprehensive budget preparation process.
Chief Economic Adviser V Anantha Nageswaran attended the meeting alongside other economists. Senior officers from the Department of Economic Affairs were also present. Their collective expertise will shape the upcoming fiscal policies.
The Ministry of Finance confirmed the event through an official social media post. It highlighted the Finance Minister’s role in chairing these crucial discussions. This transparency underscores the government’s commitment to inclusive planning.
Pre-budget consultations are a key part of the government’s strategy. They involve gathering diverse perspectives from various stakeholders. These sessions help in crafting a budget that addresses economic realities.
Industry representatives have been actively participating in these meetings. The PHD Chamber of Commerce and Industry recently met with Revenue Secretary Arvind Srivastava. They presented detailed recommendations on tax policies.
Discussions are focusing heavily on enhancing the ease of doing business. This has been a consistent priority for the current administration. Simplifying regulations can boost investor confidence significantly.
Tax benefits for the last mile are another critical topic. Ensuring that smaller businesses and individuals benefit is essential. This approach promotes equitable economic growth.
Dr Ranjit Mehta from PHDCCI emphasized the importance of business facilitation. He noted that liquidity challenges for MSMEs were specifically addressed. Practical solutions are being explored to support these enterprises.
The government’s focus on a simpler tax regime is clear. Streamlining direct and indirect taxes can reduce compliance burdens. This could lead to increased formalization of the economy.
Meetings with economists and industry bodies will continue. Each session adds valuable insights into the budget-making process. The goal is to create a balanced and growth-oriented fiscal plan.
Revenue Secretary Arvind Srivastava is playing a key role in these dialogues. His discussions with industry groups help bridge policy and practical needs. Collaborative efforts are crucial for effective implementation.
MSMEs stand to gain from proposed liquidity easing measures. Addressing their financial constraints can spur job creation and innovation. This sector is vital for India’s economic resilience.
The Union Budget 2026-27 is taking shape through these consultations. Inputs from experts ensure that policies are well-rounded and impactful. The final document will reflect a consensus-driven approach.
Expect more stakeholder meetings in the coming weeks. Each contribution will refine the budget’s focus on simplification and growth. The process remains dynamic and inclusive.