FM Nirmala Sitharaman meets state finance ministers for pre-budget consultations, Rajasthan seeks funds for ERCP

Union Finance Minister Nirmala Sitharaman on Saturday chaired a meeting with finance ministers of states and union territories in the national capital.

The pre-budget meeting was convened by the Finance Ministry to take suggestions for the upcoming Union Budget 2024-25.

Rajasthan Finance Minister Diya Kumari later told ANI that they made several suggestions concerning Rajasthan.

She said they have requested special funds for development of Eastern Rajasthan Canal Project (ERCP). The BJP has expressed its commitment towards the project and party leaders in Rajasthan are keen to finish the project in five years.

Rajasthan also demanded funds for the construction of new highways and railway lines.

As per tradition, the Union Finance Ministry consults with the states and stakeholders of the economy ahead of the union budget. As part of this consultation, Sitharaman has met economists, finance and capital market experts and industry bodies.

The Finance Minister on June 19 met a group of economists. It 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.

The Finance Minister also met capital and finance experts and industry bodies on June 20. The discussions touched on issues ranging from the NBFC sector, GST rules and improving the capital market.

During the meeting, industry representatives asked for restructuring of GST tax, lowering of tax, and increased capital expenditure.

Sitharaman is set to present the Union budget for 2024-25 in the third week of July. Sitharman had presented an interim budget on February 1 ahead of the Lok Sabha polls. She has so far presented six budgets in a row and will create a record when she presents the full-fledged budget for the new term of the BJP-led Union government.