The Impressive TimesNew Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Friday chaired an important pre-Budget consultation meeting with States and Union Territories having legislatures, as part of the preparation process for the Union Budget 2026–27.
The high-level meeting saw participation from a wide range of political and administrative leaders, including Minister of State for Finance Pankaj Chaudhary, the Governor of Manipur, Chief Ministers of Goa, Haryana, Meghalaya, Sikkim, Delhi, and Jammu & Kashmir, along with Deputy Chief Ministers from Arunachal Pradesh, Madhya Pradesh, Odisha, Rajasthan, and Telangana. Finance Ministers and senior representatives from other States and UTs were also present. Senior officials from the Union Ministry of Finance and state administrations joined the discussions.
During the deliberations, representatives from States and Union Territories shared a series of recommendations aimed at strengthening fiscal support and accelerating development. A key focus of the discussions was the Scheme for Special Assistance to States for Capital Investment (SASCI), which received strong endorsement from several participants. They stressed that the scheme has played a crucial role in speeding up infrastructure creation and supporting long-term capital expenditure at the state level, and called for its continuation with enhanced financial outlay.
Officials highlighted that since its introduction in the 2020–21 financial year, the Central Government has extended over ₹4.25 lakh crore to States in the form of 50-year, interest-free loans under the SASCI framework, significantly boosting capital investment across regions.
Concluding the meeting, the Union Finance Minister expressed appreciation for the constructive inputs shared by the States and Union Territories. She assured participants that all suggestions would be carefully reviewed and appropriately factored into the formulation of the Union Budget for 2026–27.
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