Centre to kick off FY24 Budget making exercise from October 10
By Team Newsable | First Published Oct 9, 2022, 4:50 PM ISTAccording to PTI sources, the Finance Secretary and Expenditure Secretary would chair the majority of these sessions to approve RE for the current fiscal year (2022-23) and Budget Estimate for 2023-24.
The central government will kick off its annual budget-making exercise for the financial year 2023-24 on Monday, October 10, which is expected to look at measures to revive growth amid a gloomy outlook, according to the news agency PTI. The meeting will begin with talks with several ministries and departments on the current fiscal year's revised estimates (RE) of spending and the money demand for 2023-24.
RE discussions with the Ministries of Environment, Forestry, and Climate Change, Labour and Employment, Information and Broadcasting, Statistics and Program Implementation, and Youth Affairs and Sports will take place on Monday. According to PTI sources, the Finance Secretary and Expenditure Secretary would chair the majority of these sessions to approve RE for the current fiscal year (2022-23) and Budget Estimate for 2023-24.
Latest Videos
Also Read | Infosys told HR not to hire Indian-origin candidates, women with kids... Ex-VP tells US court
According to a notification from the finance ministry's Budget Division, the month-long deliberations would conclude on November 10 with consultations with the Ministries of Cooperation, Agriculture and Farmers Welfare, Agricultural Research and Education, Road Transport and Highways, Railways, and Petroleum and Natural Gas.
Following the completion of pre-Budget discussions, the Budget Estimates for 2023-24 will be tentatively finalised.
Also Read | Ola, Uber, Rapido autos illegal in Bengaluru; services to discontinue within 3 days
All of these meetings would take place in the midst of several organisations, including the Reserve Bank of India and the World Bank, lowering India's growth prediction to 7% and 6.5 percent, respectively. It will be the fifth Budget of the Narendra Modi 2.0 administration and Finance Minister Nirmala Sitharaman's tenure, as well as the final full Budget before the general elections scheduled for April-May 2024. According to PTI, the Budget 2023-24 is expected to be delivered on February 1, during the first part of Parliament's Budget session, which typically begins in the final week of January each year.
Also Read | Auto retail sales on overdrive in September; Maruti Suzuki top car seller, Honda in two-wheeler market
(With PTI inputs)
subscribe to Asianet Newsable WhatsApp channel by clicking here. For more reliable and latest news
subscribe to Asianet Newsable Telegram channel by clicking here.