Sitharaman chairs pre-budget meeting with industry leaders

Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting on Thursday with stakeholders and experts from the export, trade, and industry sectors as part of the preparations for the Union Budget 2025-26. The meeting aimed to gather insights on trade dynamics, export growth, and industrial challenges to shape the upcoming budget. The Ministry of Finance shared updates about the meeting, highlighting its significance in framing policies for sustained economic growth.

The consultation was attended by Minister of State for Finance Pankaj Chaudhary, Finance Secretary T.V. Somanathan, the Secretary of the Department of Economic Affairs, Secretary of DIPAM (Department of Investment and Public Asset Management), and Chief Economic Adviser V. Anantha Nageswaran. Discussions covered critical areas such as export strategies, trade facilitation measures, and policies to strengthen industrial competitiveness, according to information.

Earlier this week, Prime Minister Narendra Modi held a meeting with prominent economists and thought leaders at the NITI Aayog premises to outline the government’s economic priorities. On December 20, Sitharaman chaired another pre-budget meeting in Jaisalmer with finance ministers of states and union territories, chief ministers, deputy chief ministers, and senior officials from the Ministry of Finance. These consultations addressed regional economic issues and fiscal challenges to ensure a holistic approach to the budget.

The Finance Ministry has, according to information, conducted several pre-budget meetings with diverse stakeholders, including MSMEs, farmers' associations, and economists. These interactions are a key part of the budget formulation process, providing a platform for various sectors to present their concerns and recommendations. The Union Budget 2025-26, scheduled to be presented on February 1, 2025, will mark Sitharaman's eighth budget as finance minister. It is expected to provide a roadmap for economic progress and stability during the Modi government’s third term.