Finance Minister concludes pre-budget meetings for Union Budget 2022-23

New Delhi: Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has concluded the pre-budget consultation meetings for Budget 2022-23. The meetings were held in virtual mode from December 15 to December 22. More than 120 invitees representing seven stakeholder groups participated in eight meetings scheduled during this period. The stakeholder groups include representatives and experts from the agriculture and agro-processing industry, industry, infrastructure and climate change; financial sector and capital markets; services and trade; social sector; trade union and labour organisation and economists.

Union Ministers of State for Finance Pankaj Chaudhary and Dr Bhagwat Kishanrao Karad, Finance Secretary TV Somanathan, Secretary, DEA, Ajay Seth; Secretary, DIPAM, Tuhin Kanta Pandey; Secretary, Financial Services, Debashish Panda; Secretary, Corporate Affairs, Rajesh Verma; Secretary, Revenue Tarun Bajaj and senior officers from Ministry of Finance were also present during the meetings. Secretaries of other Ministries and Departments concerned participated through online mode.

The stakeholder groups made several suggestions on various issues that included increased R&D spending, infrastructure status for digital services, incentives to hydrogen storage and fuel cell development, rationalisation of income tax slabs, investments in online safety measures etc., among others.

The participants lauded the government's efforts for inefficient handling of the economy during the pandemic and retaining India's status as the fastest-growing major economy.

Sitharaman thanked the participants for sharing their valuable suggestions and assured them that suggestions will be carefully considered while preparing the Budget 2022-23.

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