Pre-Budget consultations from January 6

Finance Minister Arun Jaitley is expected to begin consultations on the Union Budget from January 6. The Budget for 2015-16 is likely to be presented on February 27, as the last day of February falls on a Saturday.

According to Finance Ministry sources, Jaitley will hear views from industry and trade bodies on January 6. The next in line will be an agriculture group on January 7, followed by the social sector on January 8. His meeting with trade unions is expected on January 10, while Jaitley is scheduled to meet economists on January 13.

The information technology group will hold consultations on January 14, and finally banks and financial institutions will meet him on January 15.

The Finance Minister chairs the meetings along with his deputy and key Ministry officials. The effort is to collect views and suggestions from various groups that help in finalising the Budget. Technically speaking, this will be first full-fledged Budget of the Narendra Modi Government, though Jaitley did present a Budget on July 10, which was basically a constitutional requirement and was for nine months. There are lot of expectations from the next Budget, with the industry pinning hopes on new measures to boost investment, and the common citizens expecting more relief. It, however, remains to be seen how the Finance Minister meets the challenge of presenting the Budget and achieving the fiscal deficit target of 4.1 per cent for 2014-15.