States, UTs Discuss Financial Affairs in Jaisalmer Pre-Budget Meeting
Finance Minister Nirmala Sitharaman led a pre-budget meeting with states and union territories in Jaisalmer on Friday. This meeting was part of the preparation for the upcoming budget, focusing on the financial matters of the states.
Chief Ministers from Goa, Haryana, Jammu and Kashmir, Meghalaya, and Odisha, along with Deputy Chief Ministers from Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan, and Telangana, attended the meeting. Additionally, Finance Ministers of States and Union Territories and the Finance Minister participated.
Senior officials from the Ministry of Finance, including the Secretaries of the Departments of Economic Affairs and Expenditure, were also present. The meeting coincided with the GST Council meeting scheduled in Jaisalmer on Saturday, where finance ministers from states and union territories gathered.
Finance Minister Nirmala Sitharaman has recently conducted multiple pre-budget consultation meetings with different stakeholders. These discussions primarily included MSMEs (Micro, Small and Medium Enterprises), Farmers' Associations, and economists.
The aim of these meetings was to create a more comprehensive and effective budget by considering the needs of various sectors. The Finance Ministry holds such meetings annually, attended by experts, industry leaders, economists, and state government officials.
The annual formal budget preparation process has commenced. This involves extensive consultations with states and integrating various economic viewpoints.
The 2025-26 budget will be presented on February 1, 2025, marking Finance Minister Nirmala Sitharaman's eighth budget. This budget is deemed crucial for outlining the government's future direction and priorities.
The 2025-26 budget announcements will be highly anticipated, particularly regarding the significant measures the Modi 3.0 government will implement during its remaining term.
The government can establish new directives to accelerate the nation's economic development through the budget's decisions and schemes. Additionally, organizing meetings with the States and Union Territories suggests that the government will seriously consider the states' needs and recommendations in its budget.