look news india
Prime Minister Narendra Modi will hold important discussions on Union Budget 2025 with economists and experts from various fields today, December 24. This meeting is being organized with the aim of understanding various suggestions and opinions before the budget. Finance Minister Nirmala Sitharaman will present the Union Budget on February 1, 2025. NITI Aayog Vice Chairman Suman Berry and other prominent members may also participate in this discussion. It is expected that in the meeting there will be in-depth discussions on accelerating the country’s economic growth and other important issues.
Budget 2025: Special focus on increasing growth
Finance Minister’s 8th consecutive budget
Finance Minister Nirmala Sitharaman will present the Union Budget for the eighth consecutive time.
- Budget 2025 is coming at a time when GDP growth has registered a decline.
- GDP growth declined to 5.4% in the second quarter of FY24.
- In this budget, special attention will be given to economic reforms and growth enhancing measures.
expectations of all sections
- The eyes of farmers, industry and common man as well as taxpayers are fixed on the budget.
- Great expectations are being raised regarding the new income tax rules.
- While presenting the Union Budget in July, the Finance Minister had talked about reviewing the Direct Tax Code, which is likely to be included in this budget.
Emphasis on capital expenditure
Main points of Prime Minister’s discussion
The main focus of Prime Minister Narendra Modi’s meeting will be:
- GDP Growth: Taking suggestions from economists on measures to improve GDP.
- Capital Expenditure: Discussion on plans to increase capital expenditure by the government.
- To hear from experts on how government investment and other efforts can be improved to accelerate growth rates.
Pre-Budget Discussion: Participation of States
Finance Minister’s meeting with the states
On December 20, Finance Minister Nirmala Sitharaman held pre-budget discussions with representatives of states and union territories.
- Many states demanded a financial package from the government due to economic pressure.
- However, experts believe that there is little possibility of announcing any big package for the states in the budget.
Dialogue with economy related segments
Discussions related to various sectors before the budget have been going on for the last several months.
- Its objective is to formulate better policies and measures for economic recovery.
Economic reforms and future strategy
Measures to improve GDP:
The Prime Minister and experts will discuss how economic growth can be promoted through capital expenditure, private investment, and import-export policies.
Balanced development for states:
- Keeping in mind the economic demands of the states, efforts will be made to maintain financial balance in the budget.
- Special attention will be given to those areas where economic pressure is high.