Budget for 2024–2025: FM Pre-Budget consultative meeting with state finance ministers is facilitated by Sitharaman

During her speech, Sitharaman emphasized the Union Government's commitment to helping the states with GST compensation arrears, Finance Commission funds, and prompt tax devolution.

Ministers received assurances from Sitharaman that their suggestions would be fully taken into account when the Union Budget for the next fiscal year was being formulated. 

On June 22, Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs, led a critical pre-budget consultation meeting with the finance ministers of the states and union territories. The purpose of the gathering was to collect ideas and suggestions for the next Union Budget for the fiscal year 2024–2025.

A number of ministers offered recommendations for improving the Government of India's "Scheme for Special Assistance to States for Capital Investment" in addition to endorsing it. In addition to making a number of suggestions for the next Union Budget, they included particular proposals that were relevant to their individual states.

During her speech, Sitharaman emphasized the Union Government's commitment to helping the states with GST compensation arrears, Finance Commission funds, and prompt tax devolution. With respect to the "Scheme for Special Assistance to States for Capital Investment," Sitharaman said that while the majority of the loans are unconditional, a portion of them are subject to state-led citizen-centric reforms and capital projects that are sector-specific. She pleaded with the states to meet the requirements in order to qualify for these loans.

Ministers received assurances from the FM that their suggestions would be fully taken into account when the Union Budget for the next fiscal year was being formulated.

Union Minister of State for Finance Pankaj Chaudhary was joined at the meeting by the chief ministers of Goa, Meghalaya, Mizoram, Nagaland, and Sikkim; deputy chief ministers from Bihar, Madhya Pradesh, Odisha, Rajasthan, and Telangana; state finance ministers; other ministers; and senior officers from the union government and the states and union territories (with legislatures).