(PTI)
The finance ministry will kick-start the exercise to prepare the annual Budget for 2021-22 from October 16, a notification said on Thursday.It will be the third budget of the Modi 2.0 government and Finance Minister Nirmala Sitharaman. The budget will have to address critical issues pertaining to growth contraction and subdued revenue collection triggered by the COVID-19 pandemic. “The pre-Budget/RE (Revised Estimate) meetings will begin on the October 16, 2020,” according to the Budget Circular (2021-22) of the Budget Division of the Department of Economic Affairs.
“All financial advisers should ensure that the necessary details related to these meetings contained in the Appendices I to VII are entered in RE module of the UBIS (Union Budget Information System),” the circular added.The Budget Estimates (BE) for 2021-22 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers.Pre-Budget meetings will begin from October 16 and continue till the first week of November, it said.
Ceilings for all categories of expenditure, including the central sector and centrally sponsored schemes will be discussed, it said. Accordingly, the RE 2020-21 and BE 2021-22 for all categories of expenditure, and select schemes/projects, may be indicated separately for revenue and capital expenditure, it said.
