FM to begin Pre-Budget consultations from Jan 6

Finance Minister Arun Jaitley will hold pre-budget consultations with different stakeholders including trade unions, financial institutions and economists beginning January 6.

Jaitley, who would be presenting his second Budget in February end, will hold pre-budget discussions with industry and trade groups on January 6, followed by agriculture sector on January 7 and social sector the next day. He would seek views of trade unions on January 10, and of economists on January 13, sources said.

The Finance Minister would meet IT groups on January 14 and banks and financial institutions on the following day.

Jaitley was earlier scheduled to start the meetings in third week of December, but pre-budget consultations have been postponed because of "huge volume of legislative business" in the ongoing winter session of Parliament, sources said. Since the BJP-led NDA's coming to power in May, Jaitley will present his first full Budget in February, 2015.

Former Finance Minister P Chidambaram of the UPA government had presented an interim budget for current fiscal on February 17, 2014. The new government, which assumed power in May, presented a detailed budget for 2014-15 on July 10. The customary pre-budget consultations are considered important as it helps government in formulating policies.

Government has already begun budgetary exercise with Department of Expenditure holding meetings with officials of other ministries and departments. The meetings were aimed at firming up Budget estimates for 2015-16 for Plan and non-Plan expenses. (MoneyControl)