New Delhi, December 7: Finance Minister Nirmala Sitharaman chaired a pre-Budget consultation meeting with stakeholders from the Micro, Small, and Medium Enterprises (MSME) sector to gather suggestions for the Union Budget 2025-26.
The meeting included the participation of Union Minister of State for Finance Pankaj Chaudhary, the Finance Secretary, and senior officials such as the DIPAM Secretary, Department of Economic Affairs Secretary, and the Chief Economic Adviser.
Key Participants
Representatives from various MSME associations and organizations attended the consultation, including:
- Association of Women Entrepreneurs of Karnataka (AWAKE)
- Karnataka SC and ST Entrepreneurs Association
- Plant-Based Food Industry Association (PBFIA)
- Ambala Scientific Instruments Manufacturers Association (ASIMA)
- Rajasthan Footwear Manufacturers Association
- The All-India Plastics Manufacturers Association
- Gujarat Chamber of Small Industries Association
- Federation of Associations of Cottage and Small Industries (West Bengal)
- Federation of Andhra Pradesh Small and Medium Association
- Laghu Udyog Bharati
Discussions and Deliberations
While detailed discussions from the meeting have not yet been disclosed, the Finance Ministry emphasized that these consultations aim to incorporate valuable insights from diverse stakeholders into the Budget planning process.
Budget 2025-26 Highlights
The Union Budget for 2025-26 will be tabled on February 1, 2025, marking Nirmala Sitharaman’s eighth budget as Finance Minister. The upcoming Budget is expected to outline key measures to promote economic growth, particularly for the MSME sector, as the government continues its focus on forward-looking economic strategies for the Modi 3.0 tenure.
Pre-Budget Consultations
The Finance Ministry conducts multiple pre-Budget consultation meetings annually, engaging with experts, industry leaders, economists, and state officials. Prior to the MSME meeting, Sitharaman held consultations with leading economists and farmer associations.
The MSME sector, regarded as the backbone of the Indian economy, is anticipated to receive significant attention in the forthcoming Budget to enhance its contribution to GDP and employment.
