Union Finance Minster Nirmala Sitharaman chairs pre-budget meeting with state finance ministers
Nirmala Sitharaman on Saturday chaired a pre-budget meeting with state and union territories finance ministers at Bharat Mandapam.
The meeting is organised by the Ministry of Finance and Corporate Affairs with the finance ministers of all states and UTs, along with other stakeholders, for suggestions for the upcoming Union Budget.
The Finance Ministry had consulted with various stakeholders of the economy a few days ago. Sitharaman has met economists, finance and capital market experts and industry bodies. The first pre-budget meeting was chaired by the FM on June 19. The meeting was attended by Union Minister of State for Finance Pankaj Chaudhary, the finance secretary, secretaries of the departments of economic affairs, revenue, financial services and corporate affairs and the chief economic adviser.
Sitharaman is set to chair the 53rd Goods and Services Tax (GST) Council Meeting in the second half of the day. This will mark the first meeting of the GST council after the formation of the new government. State finance ministers will also be present at the meeting.
The GST council will discuss issues about the GST regime, such as tax rates, modifications to policies, and administrative challenges.
The Council is key to shape India's indirect tax system, making sure that it facilitates company and citizen tax relief.
The information on the agenda of Council meeting is not yet in the public domain.
Goods and Services Tax was introduced in the country with effect from July 1, 2017,
