Finance Minister Nirmala Sitharaman opened the first pre‑budget talks for the 2026‑27 Union Budget on Monday, meeting top economists and senior officials in New Delhi.
The session was led by the minister herself and included Chief Economic Adviser V. Anantha Nageswaran, the Secretary of the Department of Economic Affairs, and other key staff from the DEA. A Ministry of Finance X‑post highlighted the event, saying it “brings together leading economists to shape the budget.”
These early talks are part of a wider effort to fine‑tune the budget and gather input from the business community. Industry groups have already met with officials to suggest ways to boost India’s ease of doing business and expand tax relief for small and medium enterprises (SMEs).
Last week, staff from the PHD Chamber of Commerce and Industry (PHDCCI) met Revenue Secretary Arvind Srivastava. PHDCCI CEO Ranjit Mehta told reporters that the council warned the government about liquidity challenges faced by micro, small and medium businesses and urged more targeted tax breaks.
In a separate meeting, the Confederation of Indian Industry (CII) pushed for sweeping tax reforms, including faster dispute resolution, a simpler tax‑deduction‑at‑source (TDS) system, and fully digital customs. CII Director‑General Chandrajit Banerjee said the tax framework should shift from a “dispute‑driven” model to one that is preventive, tech‑driven and trustworthy. He added that the budget should help India raise revenue while also encouraging investment, innovation and global competitiveness.
The government plans to keep working with industry bodies in the coming weeks before finalizing its proposals. As the 2026‑27 budget takes shape, stakeholders are watching closely for changes that could boost business growth and ease the tax burden for companies across the country.
Source: ianslive
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