Posted in Economy

FY26 budget consultations to kick-off in October

 September 18, 2024  Leave a Comment on FY26 budget consultations to kick-off in October
Growfast


New Delhi: The finance ministry has initiated the budget-making process for 2025-26. It will start pre-budget meetings in the second week of October, according to a circular issued by the ministry.

Every year, the process formally starts with meetings with the ministries and departments. These will be chaired by expenditure secretary Manoj Govil. “The budget estimates (BE) for 2025-26 will be provisionally finalised after the completion of pre-budget meetings,” the department of economic affairs (DEA) said in a circular dated September 17.

The pre-budget meetings will dwell on four important issues–the requirement of funds across all expenditure categories, along with receipts of ministries and departments; the receipts of commercial undertakings run by various departments, which are netted against gross expenditure; non-tax revenues, including arrears; and net expenditure estimates.

The DEA has also asked the departments to be realistic in their expenditure projections, in sync with a circular issued in December 2022.

The meetings also serve to help the finance ministry firm up revised estimates for the ongoing financial year.


After these meetings with ministries and departments, FM Nirmala Sitharaman will likely engage with various stakeholders, including industry captains, economists and sector experts.The Budget for 2025-26 will indicate whether the government intends to keep up its promises of containing the fiscal deficit ratios at 5.1% of GDP and below 4.5% in this financial year and the next, respectively.



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *