Lagatar24 Desk
New Delhi, Sept 8: The Ministry of Finance will begin the process of creating the annual budget for the following fiscal year, 2023–2024 from October 10.
It will be Modi 2.0’s final full budget before the Lok Sabha elections in April or May of 2024.
“Pre-budget meetings chaired by the secretary (Expenditure) shall commence on October 10, 2022,” the Budget Division of the Department of Economic Affairs said.
“Financial advisers should ensure that the necessary details required in appendices I to VII are properly entered. Hard copies of the data along with specified formats should be submitted for cross-verification,” it added.
During the pre-budget meetings, the amount of money needed for all types of expenses as well as the receipts of Ministries and Departments will be discussed.
Following a review of the fiscal space, the Ministry of Finance will separately decide on the final ceilings by January 10, 2023, it was stated. The term “ceiling” in financial jargon refers to the highest amount allowed in a financial transaction.
Lastly, on February 1, the budget year 2023–24 likely to be presented.
