: Finance Ministry starts budget process for FY24 #FinanceIndia #StockMarketNEWS Finance Ministry starts budget process for FY24 New Delhi, Sept 8 (KNN) The budget process for the next financial year

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Finance Ministry starts budget process for FY24 #FinanceIndia #StockMarketNEWS
Finance Ministry starts budget process for FY24 New Delhi, Sept 8 (KNN) The budget process for the next financial year 2023-24 has begun which is expected to be presented on February 1, 2023.

The formal issuance of first set of circulars has taken place, reported Hindu Business Line.

Before the General Election kicks off in or before May, 2024, this will be the central government’s last complete budget.

“The Budget Estimates for 2023-24 will be provisionally finalised after completion of pre-budget meetings. They shall commence from October 10 and shall continue till around mid-November,” the circular said.

During the pre-budget meetings requirement of funds for all categories of expenditures along with receipts of Ministries/ Departments will be discussed.

“All the Ministries/Departments should submit details of Autonomous Bodies/implementing agencies for which a dedicated corpus fund has been created. The reasons for their continuance and requirement of grant-in-aid support, and why the same should not be wound up, should be explained,” the circular said.

It is likely that the budget will be presented in the new Parliament building. (KNN Bureau)