Finance Minister had the Pre-Budget consultation meeting with Social Sector Groups

Nov 26, 2016 14:20 | Economy

Union Finance Minister Arun Jaitley today held the Pre-Budget consultation meeting with Social Sector Groups in New Delhi.

The Pre-budget consultations of the Finance Minster gained importance after Centre announced demonetisation of high denomination currency  notes on November 8th.

In a series of financial reforms aimed at improving the economic situation, the government  made structural changes in the budgeting exercise for the next financial year. The Plan and Non-Plan distinction has been dispensed with and now budget will be classified only in revenue and capital heads and the Union Budget session has been preponed and likely to be presented in the first week of February, instead of the traditional last week of February.

It also includes subsuming Railway Budget within the General Budget

The Finance Ministry has kicked off pre-Budget consultations last week and held meetings with farmer bodies and several business delegations.