Budget 2021-22: Nirmala Sitharaman to meet industrialists on Monday; begins pre-budget consultations

Budget 2021-22: Nirmala Sitharaman to meet industrialists on Monday; begins pre-budget consultations

She also said that Rs 10,200 crore additional budget outlay will be provided towards capital and industrial expenditure for domestic defence equipment, industrial incentives and infrastructure and green energyNirmala Sitharaman will start her pre-budget consultations from Dec 14, 2020.

Budget 2021-22: As a common pre-budget exercise for the Finance Minister every year, Nirmala Sitharaman will begin e-meeting various stakeholders ahead of the General Budget FY22. The virtual consultations will start Monday onwards, according to the Ministry of Finance. Sitharaman will be meeting “different stakeholder Groups from tomorrow, 14th Dec 2020 in New Delhi in connection with the forthcoming General Budget 2021-22. The meetings will be held virtually,” the ministry said in a Twitter thread on Sunday. The first pre-Budget meeting spread over morning and afternoon sessions will be with the top industrialists, the ministry added.

Amid Covid, the government had decided to create a dedicated email to receive suggestions from various Institutions/Experts. In order to make online consultations more participatory and democratic by taking it closer to the people of India, the government had in November said that it has launched a micro-site on the MyGov platform to get budget ideas. The portal was available from November 15 till November 30, 2020. The upcoming budget will be the third including an interim one for the Modi 2.0 government and also the Finance Minister Nirmala Sitharaman.

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Meanwhile, Reserve Bank of India Governor Shaktikanta Das had last week said that the budget is expected to be prudent and growth-oriented, PTI reported citing his interaction with the media after the fifth bi-monthly monetary policy review. Das, who was earlier a career bureaucrat was directly involved in crafting around 10 budgets. “Naturally when we are recovering from massive damage which pandemic has brought on the Indian economy, the budget has to be growth-oriented. And also, let us keep in mind that during this year also, all the fiscal measures which the government has announced, I think has been very well-calibrated very well-targeted, and they have been very prudently drawn out,” he said.

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