Budget must focus on employment generation, boost to manufacturing sector: Economists

The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.

Talking to reporters after the meeting, Mahajan said unemployment is a big issue and the government should focus on generating jobs.

Given the boost in the economy, consumption demand is not going to be a problem, he added.

“We talked a lot about the need to push the manufacturing sector,” Nagesh said, adding that the Budget must provide incentive to promote MSME and textile sector.
Nagesh pitched for expanding the scope of the PLI scheme. Ministry of Finance in a post on X said, “Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the first Pre-Budget Consultations with leading economists in connection with the forthcoming General Budget 2024-25 in New Delhi, today.” “The #PreBudget consultation meeting was also attended by Union Minister of State for Finance Shri @mppchaudhary ; Finance Secretary; Secretaries of Departments of Economic Affairs, Revenue, Financial Services and Corporate Affairs; and Chief Economic Adviser, Government of India,” it added.

Finance Minister Nirmala Sitharaman is likely to present the Union Budget for the 2024-25 fiscal year in the last week of July.