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FM chairs pre-budget consultation meetings for Union Budget 2022-23

Finance and Corporate Affairs Minister Nirmala Sitharaman on Wednesday chaired the pre-budget consultation meetings for Union Budget 2022-23.

More than 120 invitees representing seven stakeholder groups participated in eight meetings scheduled during this period. The stakeholder groups include representatives and experts from Agriculture and Agro-Processing Industry, Infrastructure and Climate Change, Financial Sector and Capital Markets, Services and Trade, Social Sector, Trade Union and Labour Organization. She also hold consultations with prominent economists.

The stakeholder groups made several suggestions on various issues that included increased Research and Development spending, infrastructure status for digital services and incentives to hydrogen storage. Suggestions were also received for fuel cell development, rationalisation of income tax slabs and investments in online safety measures.

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

Minister of State for Finance Dr. Bhagwat Karad, Finance Secretary Dr T.V. Somanathan, DIPAM Secretary Tuhin Kanta Pandey, Department of Economic Affairs Secretary Ajay Seth and other senior officials were present in the meeting.

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