Quick Summary
On Wednesday, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the first pre-budget consultation in preparation for the General Budget 2024-25. This significant meeting brought together Indias top economists and senior officials from the finance ministry to discuss and provide insights on the upcoming budget. The finance ministry highlighted the event on social media, stating, Union Minister for Finance Corporate Affairs Smt. @nsitharaman chairs the first Pre-Bud
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FAQ :
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the first pre-budget consultation.
The meeting was attended by leading economists, the Union Minister of State for Finance, Shri Pankaj Chaudhary, the Finance Secretary, Secretaries from various finance departments, and the Chief Economic Adviser.
This consultation marks the beginning of the comprehensive budget formulation process for the General Budget 2024-25, aiming to gather valuable recommendations from economic experts.
Suggestions were sought on reducing compliance requirements, ensuring tax certainty, and minimising litigation, with a medium-term policy aim to phase out tax incentives and exemptions while rationalising tax rates.
The Union Budget for 2024-25 is anticipated to be presented in the second half of July.
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