Good platform for discussions on tax reforms: Omar
Excelsior Correspondent
JAMMU/JAIPUR, Dec 20: Finance Minister Nirmala Sitharaman today held pre-budget consultations with representatives of States and Union Territories with Legislature including Jammu and Kashmir for the forthcoming 2024-25 budget at Jaisalmer in Rajasthan.
Follow the Daily Excelsior channel on WhatsApp
Union Minister of State for Finance Pankaj Chaudhary, J&K Chief Minister Omar Abdullah, CMs of Goa, Haryana, Meghalaya and Odisha, Deputy CMs of five States, Finance Ministers of States/UTs, Secretaries of Departments of Economic Affairs and Expenditure and senior officials of the Finance Ministry attended the meeting.
Speaking to reporters on his arrival at Jaisalmer to attend the meeting, Omar lauded the platform for facilitating important discussions on tax reforms and pre-budget consultations.
Highlighting significance of the GST Council’s work, he described it as a valuable opportunity for stakeholders.
“This gave people like us an opportunity to share insights. It’s a constructive process that benefits everyone,” Omar said and expressed appreciation for the region during his visit.
“It’s my first time in Jodhpur, and I hope to return someday for a vacation, but for now, work has brought me here,” he said.
When asked about the contentious ‘One Nation, One Election’ proposal, Omar remained guarded in his words. “For now, it’s just been introduced. There’s still a discussion pending, and it will also need to be passed in several States along with Parliament,” Omar said.
When asked about the political targeting of Rahul Gandhi by opponents, Omar refused to delve into the controversy.
“I have nothing to say. I said everything I had to say yesterday,” he added.
Meanwhile, States raised several demands in the pre-budget meeting .
Some of the States asked the Central Government to bear a larger share of land acquisition costs for projects. Some of the States demanded increase in allocation for 50-year interest-free loans while others urged for an increase in borrowing limits to support fiscal activities.
Among others, a request was made to increase the honorarium paid to Accredited Social Health Activists (ASHA) workers.
Demands included more loans, grants, and borrowing flexibility. States emphasized the need for additional funding for disaster relief. They requested more allocation for the State Disaster Response Fund (SDRF). More funds were also sought for the Jal Jeevan Mission. They wanted funds for tanks and storage to enhance water supplies.
The Finance Minister has so far held a series of meetings with various stakeholders, including MSMEs, farmers’ associations, and economists.
The Finance Ministry conducts several pre-budget consultation meetings annually with experts, industry leaders, economists, and State officials. The formal exercise to prepare the annual Budget for the next financial year has already begun.
As is the convention, the Budget for 2025-26 will be tabled on February 1, 2025. This will be Sitharaman’s eighth budget.
All eyes will be on the key announcements and the Government’s forward-looking economic guidance.
The post FM holds pre-budget consultations with CMs, DyCMs, FMs of States/UTs appeared first on Daily Excelsior.