Prime Minister Narendra Modi convened a meeting with eminent economists on July 11 to seek their insights and recommendations ahead of the upcoming Budget presentation by Union Finance Minister Nirmala Sitharaman on July 23.
Apart from economists and sectoral experts, the gathering included Niti Aayog Vice Chairman Suman Bery and other dignitaries. 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 were among the attendees.
The Budget for 2024-25 marks a significant economic roadmap for the Modi 3.0 government, aiming to pave the way for India’s development as a developed nation by 2047. President Droupadi Murmu recently hinted at historic reforms to be unveiled, with the Budget expected to reflect ambitious policies and a forward-looking vision.
Ms. Sitharaman has engaged with various stakeholders, including economists and industry leaders, to gather inputs for the Budget. Experts have emphasized the need for tax relief to stimulate consumer spending, measures to combat inflation, and initiatives to accelerate economic growth.
With the economy achieving a growth rate of 8.2% in 2023-24, anticipation is high for the upcoming Budget, following the interim budget presented earlier in February ahead of the Lok Sabha elections.
