Union Budget 2025-26: Sitharaman meets with economists for pre-budget consultations

New Delhi| Finance Minister Nirmala Sitharaman opened a pre-budget meeting with leading economists to collect inputs and suggestions for the upcoming Budget 2025-26. In the meeting chaired by the Finance Minister, Union Minister of State for Finance P. Chaudhary, Finance Secretary, DIPAM Secretary, Secretary, Department of Economic Affairs and Chief Economic Advisor were also present. This meeting took place in the national capital. However, detailed information about which issues were discussed during the budget has not been made public yet.

The Ministry of Finance holds a number of pre-budget consultation meetings every year with experts, industry leaders, economists and state officials. The formal process of preparing the annual budget for the next financial year has already begun.

As in previous years, the 2025-26 budget is expected to be presented on 1 February. The 2025-26 budget will be the eighth budget of Finance Minister Nirmala Sitharaman. All eyes will be on key announcements and the government’s far-reaching economic guidance for the remainder of the Modi 3.0 term.

After the meeting, Swadeshi Jagran Manch co-convenor Ashwini Mahajan said economists were unanimous that India needs its own comprehensive manufacturing policy.

“We gave suggestions on food inflation, climate change, fiscal consolidation and strategies for the agriculture sector”, Mahajan told reporters. Suggestions were also made to reduce personal income tax.” Eminent economist Anil Sharma, present in the meeting, described unemployment as a serious issue.

Sharma said, “We have suggested setting up skill universities at the district level. While this appears to be a state government initiative, it could provide a significant boost to employment if the central government takes the initiative During the meeting some economists reiterated the need to reduce personal income tax.