Nirmala Sitharaman Completes Month-Long Stakeholder Consultations for FY 2026 Budget Preparation

Finance Minister Nirmala Sitharaman recently wrapped up a series of consultations for the upcoming budget. These discussions, which began on December 6, 2024, involved various stakeholders from industry and social sectors. The Finance Ministry confirmed that over 100 participants from nine different groups attended these meetings.

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Among the attendees were experts and representatives from farmer associations, trade unions, and the education and health sectors. Participants also included those from the MSME sector, trade and services, industry, economists, financial sector, capital markets, infrastructure, energy, and urban sectors. Sitharaman thanked them for their input and promised to consider their suggestions for the Union Budget 2025-26.

Public Participation in Budget Process

Starting January 10, 2025, citizens can submit their ideas for the Union Budget 2025-26 through the MyGov platform. This initiative aims to make the budget process more inclusive by encouraging public participation. The Ministry of Finance and MyGov are keen to receive innovative suggestions from people across India.

To contribute, individuals can visit the MyGov website at www.mygov.in. This effort is part of a broader goal to build a 'Viksit Bharat' or developed India by 2047. The government encourages citizens to actively engage in this annual exercise to enhance the budget-making process.

Key Officials in Attendance

Several high-ranking officials were present during these consultations. These included Union Minister of State for Finance Pankaj Chaudhary and Finance Secretary Tuhin Kanta Pandey. Economic Affairs Secretary Ajay Seth and Financial Services Secretary M Nagaraju also attended, along with other senior officers from relevant ministries.

The Union Budget 2025-26 is expected to be presented in Parliament on February 1. This will mark Nirmala Sitharaman's eighth consecutive budget presentation. It will also be the second full budget under the Modi 3.0 government, setting policy directions towards achieving a developed India by 2047.