The Finance Ministry has initiated the process of preparing the interim Budget for the fiscal year 2024-25 by soliciting expenditure-related input from various ministries and departments. Pre-budget meetings, chaired by the Secretary of Expenditure, will commence in the second week of October 2023 and continue until mid-November. Financial advisers have been tasked with ensuring that necessary details for the interim Budget are submitted by October 5, 2023.
During these meetings, discussions will revolve around funding requirements for different expenditure categories and the receipts of ministries and departments. Non-tax revenues, including arrears, will also be examined on a net basis.
The Budget Estimates for 2024-25 will be provisionally finalized after these pre-budget meetings. The circular emphasizes the importance of ministries and departments providing details of autonomous bodies or implementing agencies with dedicated corpus funds, along with justifications for their continuation and grant-in-aid support, if necessary.
Finance Minister Nirmala Sitharaman will present her sixth Budget, marking a significant step in the budgetary process.