The Union Finance Minister held the pre-budget consultations with the Finance Ministers of States and Union Territories (with Legislature) here today. The meeting was attended by Union Ministers of State (Finance), Chief Ministers, Deputy Chief Ministers, Lt. Governor of Jammu & Kashmir, Finance Ministers, Ministers and Senior Officers from the States/Union Territories and the Union Government.

The Secretary, Department of Economic Affairs, Ministry of Finance, welcomed all the participants to the meeting and informed the importance of this particular consultation for the ensuing Budget.

Most of the participants thanked the Union Finance Minister for financially supporting their States/Union Territories by enhancing borrowing limits, providing two advanced devolution installments and  through Special Assistance for capital expenditure. The participants also gave numerous suggestions to the Union Finance Minister for inclusion in the Budget Speech.  Union Finance Minister thanked the participants for their inputs and suggestions towards Budget 2023-24 and assured  to examine each of the proposals.

Intergovernmental fiscal consultation: states submitted budget priorities after recognition of central borrowing and devolution support, for review. Pre-budget intergovernmental consultation assembled state and union finance officials to present proposals for Budget 2023-24; participants acknowledged central fiscal support measures-enhanced borrowing limits, two advance devolution installments, and Special Assistance for capital expenditure-and the Union Finance Minister committed to examine the submissions as part of the consultative budgetary process.