New Delhi: Modi Holds Crucial Pre-Budget Meeting with Economists Ahead of Union Budget 2024

NEW DELHI: Prime Minister Narendra Modi convened pivotal meeting with top economists and sectoral experts on Thursday. This is in preparation for Union Budget 2024. The government is set to present its first full Budget of its third term on July 23. Finance Minister Nirmala Sitharaman actively participated. The pre-Budget discussions are deemed crucial.

The meeting saw participation of Niti Aayog Vice Chairman Suman Bery. Other key members were also present. This highlights the significance. This Budget is particularly critical. It will be first major economic document of the Modi 3.0 government. The Budget is expected to lay out comprehensive roadmap. The goal is transforming India into developed nation by 2047.

Finance Minister Sitharaman has been extensively engaging with various stakeholders. She has included economists. Industry leaders are involved. The goal is to gather insights. And recommendations for the forthcoming Budget. These discussions aim to ensure the Budget addresses pressing economic challenges. It will also capitalize on growth opportunities.

Several experts have emphasized need for government to provide tax relief measures. These measures aim to boost consumption. They have also called for strategies to control inflation. These strategies aim to stimulate economic growth. The importance of these measures is underscored by the 8.2 percent growth rate in 2023-24. In February Sitharaman presented the interim Budget for 2024-25. This served as preparatory step. It was in anticipation of the upcoming Lok Sabha elections.

The pre-Budget meeting highlighted the government's commitment. This commitment was to an inclusive approach. This was key in budget formulation. Consultative processes were emphasized. Insights and suggestions from economists will play crucial role. Sectoral experts will contribute as well. These will shape policies. This aims to sustain economic momentum. Achieving long-term development goals is a major focus.

The Budget aims to address current economic challenges. It is expected to lay foundation for a prosperous future. It is set to be a cornerstone in government's vision. This vision aims to make India a developed nation by 2047. This vision reflects aspirations. It mirrors the hopes of dynamic and growing economy.

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