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Jaitley to meet state FMs tomorrow on upcoming budget

Finance Minister will be presenting the first full-fledged budget of the Narendra Modi-led government in February

Press Trust of India  |  New Delhi 

Arun Jaitley

Finance Minister will meet state finance ministers tomorrow to elicit their views on the forthcoming to be presented in in February-end.

After meeting state finance ministers, Jaitley will start customary pre-consultations with different interest groups, including industry and trade unions.

He will be presenting the first full fledged of the Modi-led government in February. Last year, the then Finance Minister had brought an interim in February for the fiscal 2014-15 and later in July, Jaitley presented a regular one.

The meeting with state finance ministers assumes significance as Jaitley is also likely to discuss CST compensation and other issues related to proposed Goods and Service Tax (GST).

A constitutional amendment bill for roll out of the new indirect tax regime was introduced in just concluded Winter Session after Centre and state governments reached a consensus on GST.

The pre-meetings will be held against the backdrop of submission of report of the 14th Finance Commission, headed by former RBI Governor Y V Reddy.

Jaitley will hold pre-discussions with industry and trade groups on January 6, followed by agriculture sector on January 7 and social sector the next day.

He would seek views of trade unions on January 10, and of economists on January 13, sources said.

The Finance Minister would meet IT groups on January 14 and banks and financial institutions on the following day.

The customary pre-consultations are considered important as it helps government in formulating policies.

First Published: Thu, December 25 2014. 17:45 IST