Finance minister to travel to Mumbai tomorrow for post-budget interaction with industry

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Finance Minister Nirmala Sitharaman to meet industry leaders during her two-day visit to Mumbai

Finance Minister Nirmala Sitharaman will meet with stakeholders in Maharashtra during her two-day visit to Mumbai starting tomorrow (February 21), as part of a post-budget interaction.

In a tweet from the Ministry of Finance, it was informed that Ms Sitharaman will be in Mumbai between February 21-22. She will meet with representatives from industry and commerce, major taxpayers and selected professionals, the tweet said.

Earlier on February 14, the finance minister had met with the board of the Reserve Bank of India (RBI) in New Delhi and in her speech, she laid out the thinking behind the government’s budget and priorities.

This year’s budget, presented on February 1, projects nominal gross domestic product (GDP) growth of 11.1%. The government expects this growth to be fueled by a massive capital spending program outlined in the budget to attract private investment by invigorating economic activity and creating demand.

Ms Sitharaman has increased capital expenditure by 35.4% for 2022-2023 to Rs 7.5 lakh crore to continue the recovery of the pandemic-stricken economy, with a focus on public investment. This year’s capex is set at Rs 5.5 lakh crore.

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