FY22 Union Budget: Pre-budget meetings to begin on Oct 16
Thursday - October 1, 2020 11:33 pm , Category : BUSINESS
New Delhi, Oct 1 (IANS) The pre-budget meetings for the Union Budget FY 2021-22 will begin on October 16 and continue till the first week of November, said a circular by the Department of Economic Affairs (DEA).The Budget Circular 2021-22 said that in the special circumstances of this year, the basis of the final budgetary allocations will be first and foremost overall fiscal position, and subject to that the absorptive capacity of the ministry or department."The Budget Estimates for 2021-22 will be provisionally finalised after Secretary (Expenditure) completes discussions with the Secretaries and Financial Advisers. Pre-Budget Meetings shall begin from 16th October, 2020 and shall continue till the first week of November, 2020," the circular said.According to DEA, the ceilings for all categories of expenditure, including Central Sector and centrally sponsored schemes will be discussed.The circular said that RE 2020-21 and BE 2021-22 for all categories of expenditure, and select schemes or projects, may be indicated separately for revenue and capital expenditure."It is proposed to discuss the totality of the requirements of funds for various programmes and schemes, along with receipts of the Departments (viz. interest receipts, dividends, loan repayments, departmental receipts, receipts of Departmental Commercial Undertakings, etc.) during the pre-budget meetings chaired by Secretary (Expenditure)," said the circular.The circular mandates that all the ministries or departments Ato submit details of all the autonomous bodies or implementing agencies for which a dedicated corpus fund has been created, clearly indicating the purpose, whether in 'Public Account', accumulated balances as on March 31, 2020, annual expenditure for the last three years, and allocations made during the current financial year."The reasons for their continuance and requirement of grant-in-aid support should be explained and why the same should not be wound up," it said.The Budget 2021-22 is likely to be presented on February 1.
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