PM Modi meets economists ahead of Budget for 2024-25

Prime Minister Narendra Modi to Consult Economists for Upcoming Budget

New Delhi: Prime Minister Narendra Modi is convening a meeting with leading economists on Thursday to gather their insights and recommendations for the forthcoming Budget. This consultation aims to shape the economic strategy and policies for the next fiscal year.

Union Finance Minister Nirmala Sitharaman is set to present the Budget for 2024-25 in the Lok Sabha on July 23. The meeting will include prominent economists, sectoral experts, and key government officials such as Niti Aayog Vice Chairman Suman Bery, Finance Minister Sitharaman, Planning Minister Rao Inderjit Singh, Chief Economic Advisor V. Anantha Nageswaran, and economists Surjit Bhalla and Ashok Gulati. Veteran banker K.V. Kamath will also be present.

This upcoming Budget will be the first major economic policy document of the Modi 3.0 government. It is expected to outline a strategic vision for transforming India into a developed nation by 2047. President Droupadi Murmu, in her address to the joint sitting of Parliament last month, emphasized that the government plans to introduce historic measures to accelerate the pace of reforms. She highlighted that the Budget will reflect the government's long-term vision and far-reaching policies.

Finance Minister Sitharaman has been actively engaging with various stakeholders, including economists and industry leaders, to gather diverse perspectives for the Budget. Experts have suggested that the government consider providing tax relief to the common man to stimulate consumption, address inflation concerns, and enhance economic growth.

The Indian economy has demonstrated robust growth, recording a rate of 8.2 percent for the fiscal year 2023-24. Earlier this year, Sitharaman presented an interim Budget for 2024-25 in anticipation of the Lok Sabha elections.