Union Budget 2022-23: Pre-Budget meeting will start from October 12, Union Budget will be presented on February 1

Union Budget 2022-23: Pre-Budget meeting

New Delhi: The Ministry of Finance will prepare the annual budget for 2022-23 from October 12. The Narendra Modi-led government is going to prepare for its next budget year. In the next year’s budget, many such issues will focus on important issues like demand generation, job creation and keeping the economy on the path of continuous growth of more than 8 percent. This budget will be the fourth budget after the formation of Modi government and the fourth budget of Finance Minister Nirmala Sitharaman.

 

As per the Budget Circular (2022-23) dated 16 September 2021 of the Budget Division of the Department of Economic Affairs, the Pre-Budget/RE (Revised Estimates) meetings will start from 12 October 2021. As per this circular, all financial advisors should ensure that the necessary details relating to these meetings contained in Appendix I to VII are entered in the RE module of UBIS (Central Budget Information System).

 

The Budget Estimates (BEs) for 2022-23 will be tentatively finalized after the expenditure secretary completes discussions with other secretaries and financial advisors. It said that the pre-budget meetings will start from October 12 and will continue till the second week of November. As per the circular, keeping in view the special circumstances of this year, the basis of the final budgetary allocation will be the overall financial position and will be subject to the absorption capacity of the Ministry/Department.

 

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