FM Sitharaman to hold pre-Budget consultations with stakeholders

Beginning Monday, Union Finance Minister Sitharaman will start holding consultations with various stakeholders, including farmer's organisation, economists, civil society as well as the industry body for reviving the economy during a customary pre-budget consultative process.

FM Sitharam is most likely to present her second budget for the Modi government in February 2020.

The Pre-budget consultation meeting will start from Monday and will conclude on December 23, according to PTI.

As per the finance ministry, Sitharaman will meet stakeholder groups of 'New Economy: Start-ups, Fintech and Digital Sector' on Monday morning, and financial sector and capital market representatives later in the day.

The 60-year-old minister is likely to meet industry chambers on December 19.

With the government already affecting significant cut in corporate taxes, expectations are high that it would announce some relief for the salaried class by making changes in the personal income tax structure.

Industry bodies have demanded that income up to Rs 5 lakh should be exempt from tax for individual taxpayers from the current Rs 2.5 lakh to spur demand for goods and services.

Once the pre-Budget meetings will get over, a final call on the tax proposals will be taken by the finance minister. The proposals would then be discussed with Prime Minister Narendra Modi before the Budget is frozen.

(With PTI inputs)

Also read: Modi govt clueless on economic situation; Nirmala Sitharaman should resign: Chidambaram

Also read: 'Buzz is everywhere other than in my office': Sitharaman on possible hike in GST rates