Budget Preparation

Public consultation in budget process can be distinguished as pre-budget consultation and consultation in post-budget phase. The pre-budget consultation generally takes place every year when the Finance Minister (FM) initiates the process of meeting various stakeholders from the first week of December to till the end of January. During this period, the FM generally meets the industry and commerce lobby groups, FICCI, ASSOCHAM and CII. Some other stakeholders who meet the FM include the RBI Governor, representatives of the trade unions, Congress party office bearers, farmers and the agriculturists. The FM's customary list is also extended to the State's Finance Ministers, exporters and also experts from electronics, IT and financial sectors. But in the run up to Union Budget 2010-11, the FM has started meeting the CSO leaders for the first time. Government of Odisha for the first time in 2012 started organizing pre-budget consultation as the first state in India. Finance Department of Odisha organizes a two day pre-budget consultation involving civil society organizations, media, industrialist, academics, economists, researchers, trade and commerce representatives, ministers and MLAs.