NEW DELHI, July 11: Prime Minister Narendra Modi is meeting eminent economists to gather their views and suggestions for the upcoming Budget, a senior government official reported. Union Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2024-25 in the Lok Sabha on July 23.
The meeting included NITI Aayog Vice Chairman Suman Bery, Finance Minister Sitharaman, Planning Minister Rao Inderjit Singh, Chief Economic Advisor V Anantha Nageswaran, economists Surjit Bhalla and Ashok Gulati, and veteran banker K V Kamath among others.
The 2024-25 Budget will be the first significant economic document of the Modi 3.0 Government. It is anticipated to lay out a road map for transforming India into a developed nation by 2047. In her address to the joint sitting of Parliament last month, President Droupadi Murmu indicated that the Government would introduce historic reforms to accelerate progress. She noted that the upcoming Budget would reflect the government’s far-reaching policies and futuristic vision.
Sitharaman has already engaged in discussions with various stakeholders, including economists and industry leaders, to prepare for the Budget. Several experts have urged the Government to provide tax relief to boost consumption, control inflation, and accelerate economic growth. The economy recorded a growth rate of 8.2 percent in 2023-24.
In February, Sitharaman presented an interim budget for 2024-25, considering the upcoming Lok Sabha elections.
