Finance minister chairs pre-budget consultation meeting with states, Union territories

NEW DELHI: Union minister for finance and corporate affairs Nirmala Sitharaman on Saturday chaired the meeting on Pre-Budget Consultation with States and Union Territories (with Legislature) for the forthcoming Union Budget 2026-27 in New Delhi.

Along with Union Minister for State for Finance Pankaj Chaudhary, the meeting was also attended by Governor of Manipur; Chief Ministers of Delhi, Goa, Haryana, Jammu and Kashmir, Meghalaya, and Sikkim; Deputy Chief Ministers of Arunachal Pradesh, Madhya Pradesh, Odisha, Rajasthan and Telangana; the Finance Ministers of States/UTs, besides Secretaries of Departments of Economic Affairs, Expenditure, and Revenue, and senior officials of the Ministry of Finance.

While speaking with the reporters after the meeting, Goa Chief Minister Pramod Sawant said, "We specifically demanded that the central schemes currently running for Goa be continued. As a tourism state, we have particularly requested assistance for the tourism sector. We also demanded funds for the health sector. Funds for the infrastructure development of Kushavati, which we have newly created as a district, were also discussed."

Goa Chief Minister further said, "We have also laid down special demands for the Renewable Energy sector, and for the Railway sector, we raised demands for the redevelopment of the Konkan Railways among others."

He highlighted that the 15th Finance Commission recommended Rs 700 crore in state-specific funds for the state. "We seek more funds in the 16th Finance Commission," he said.

Notably, the 15th Finance Commission recommended specific grants for Goa, including Rs 500 crore for climate change and Rs 200 crore for tourism, totalling Rs 700 crore in state-specific funds, while also providing grants for rural bodies and projecting GST compensation.

Recently. Prime Minister Narendra Modi had chaired a pre-Budget meeting with leading economists.

At the meeting, Finance Minister Nirmala Sitharaman, NITI Aayog Vice Chairman Suman Bery and other eminent economists were present. Discussions focused on key priorities and inputs for the upcoming Union Budget.

Earlier, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman held 10 rounds of Pre-Budget Consultations as part of the preparations for the forthcoming Union Budget 2026-27.

The meetings brought together representatives and experts from key sectors of the economy, including agriculture and MSMEs, capital markets, manufacturing, services, and technology.

The series began with consultations with leading economists, followed by representatives from farmer associations and agricultural economists.

Subsequent sessions engaged stakeholders from MSMEs, capital markets, startups, manufacturing, BFSI (Banking, Financial Services and Insurance), information technology, tourism and hospitality, and finally trade unions and labour organisations.

During these meetings, sector experts and stakeholders presented their recommendations, challenges, and expectations for the upcoming Budget. The discussions focused on economic growth, employment generation, investment climate, technological advancement, industrial competitiveness, financial sector stability, labour welfare, and sustainable development.

The Union Budget is typically presented on February 1 of each year. This year too, Finance Minister Nirmala Sitharaman is likely to present the Union Budget for 2026-27 in Parliament on February 1.