Deora asks FM to interact with all stake-holders before Budget

Congress leader Milind Deora on Tuesday urged Union Finance Minister Nirmala Sitharaman to visit Mumbai and hold broader pre-budget consultations with various stake-holders of the economy including small traders and vendors.

The former Union minister also noted that the economy is "dangerously close" to going off the rails.

Deora said recent "social unrest" in India has dented its image as the socially and politically stable country that is conducive to doing business.

"In the run-up to Union Budget 2020-2021, I urge @nsitharaman ji to travel to Mumbai to interact with small traders & vendors, industry & other stakeholders. Don't limit policy-making only to the select few who can access New Delhi!" Deora tweeted.

"Once the world's fastest growing economy, India is coming dangerously close to going off the rails," he stated.

Observing that the government alone cannot find solutions to the "deepening crisis", the former MP said the financial capital be better engaged through consultations during such "extraordinary times".

"By now, India's Finance Minister should have visited Mumbai to meet with representatives of traditional markets, MSMEs, industry captains and representatives from banking and finance," he stated.

The Union Budget is scheduled to be presented on February 1.