Pre-Budget Consultation 2025-26: Key Highlights from Jaisalmer Meeting
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Deepak Kumar Singh
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February 22, 2025
Pre-Budget Consultation 2025-26: Key Highlights from Jaisalmer Meeting
Union Finance Minister Holds Pre-Budget Consultation in Jaisalmer
Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired a pre-budget consultation meeting with Finance Ministers of States and Union Territories (with legislatures) in Jaisalmer, Rajasthan, on 20th December 2024. The discussions focused on suggestions for the upcoming Union Budget 2025-26, emphasizing enhanced collaboration between the Centre and States.
The Finance Minister revealed that the funds devolved to States in 45 months under the 15th Finance Commission (April 2021–December 2024) exceeded the total funds devolved during 60 months under the 14th Finance Commission (2015–2020).
This increase reflects the buoyant macroeconomic environment and improved tax collections.
Special Assistance to States for Capital Investment (SASCI)
Introduced in the Union Budget 2020-21, the SASCI scheme has been pivotal in driving the construction of crucial capital assets across States.
An additional ₹30,000 crore has been allocated as ‘Untied Funds’ under SASCI for 2024-25. These funds can be used by States in any sector for creating capital assets, providing much-needed flexibility.
Additional Support for Disaster-Affected States
A special dispensation under SASCI has been created for States affected by severe natural disasters as assessed by the Inter-Ministerial Central Team (IMCT).
Such States will be eligible for up to 50% of their allocation under Part-1 (Untied) of the SASCI scheme, in addition to funds from the National Disaster Response and Mitigation Fund (NDRMF).
This support aims to aid in the reconstruction of infrastructure like roads, bridges, water supply lines, and electricity poles.
Participation from States and UTs
The meeting witnessed active participation from key stakeholders:
Union Minister of State for Finance, Shri Pankaj Chaudhary.
Chief Ministers of Goa, Haryana, Jammu & Kashmir, Meghalaya, and Odisha.
Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, Rajasthan, and Telangana.
Finance Ministers, senior officials from the Centre, and representatives from States and UTs.
Valuable suggestions were provided by participants for consideration in the forthcoming Budget.
Focus Areas for Budget 2025-26
The Centre emphasized the need for:
Increasing capital investments to build infrastructure and boost growth.
Providing enhanced support to disaster-affected States for reconstruction.
Ensuring efficient utilization of devolved funds for developmental projects.
Smt. Sitharaman expressed gratitude to the dignitaries for their valuable inputs and assured them of due consideration in the preparation of the Union Budget 2025-26. With initiatives like SASCI and disaster-related assistance, the Centre aims to strengthen cooperative federalism and accelerate development across the nation.
Deepak Kumar Singh
Founder & Senior Business Consultant
Singh and Associates
With over 6 years of comprehensive experience in the fields of taxation, accounting, and corporate law, Deepak Singh is the founder and senior consultant at **Singh and Associates**, a leading advisory firm providing a wide range of business services. Over the years, Deepak has built a solid reputation for his expertise in complex tax issues and his commitment to delivering practical, effective solutions to both businesses and individuals.
Deepak’s core specialization lies in **GST (Goods and Services Tax)**, **Income Tax**, and **litigation-related matters**. His deep understanding of these areas allows him to assist clients with tax planning, compliance, and dispute resolution. He has successfully represented numerous clients in tax-related audits and legal proceedings, ensuring they navigate the intricate landscape of tax laws with ease and stay fully compliant with the latest regulations.
Beyond taxation, Deepak has gained significant experience in **company incorporation** and **compliance management**. He provides end-to-end support for businesses, helping them with the process of establishing a legal entity, ensuring proper registration, and adhering to the necessary corporate governance and statutory compliance requirements. His expertise helps companies maintain smooth operations by staying on top of regulatory changes and fulfilling their legal obligations.
In addition to his taxation and corporate services, Deepak has an in-depth understanding of **labor law litigation**, where he assists businesses in managing employment-related disputes. Whether handling issues related to labor contracts, employee disputes, or ensuring compliance with labor laws, Deepak helps businesses navigate these challenges to avoid potential risks and liabilities.
Deepak is also highly experienced in **transfer pricing**, offering businesses advisory services on international transactions and cross-border taxation. He ensures that clients maintain compliant and tax-efficient pricing structures, minimizing their exposure to risks in the global market.
As the founder of **Singh and Associates**, Deepak takes a client-centric approach, offering personalized, strategic guidance to address each client’s unique needs. His proactive approach, combined with his ability to translate complex tax and legal concepts into actionable advice, has earned him the trust of clients across various sectors.
Known for his attention to detail and comprehensive knowledge of business law, Deepak is committed to providing results-oriented services that help businesses achieve financial growth while ensuring regulatory compliance. His firm, **Singh and Associates**, has established itself as a reliable partner for businesses seeking expert guidance on taxation, legal matters, and corporate compliance.
Deepak is dedicated to staying updated with the latest developments in tax and business law. His ongoing commitment to professional growth ensures that Singh and Associates remains at the forefront of industry trends, offering innovative and compliant solutions to meet the evolving needs of businesses in today’s competitive landscape.
Deepak Kumar Singh Founder & Senior Business Consultant Singh and Associates With over 6 years of comprehensive experience in the fields of taxation, accounting, and corporate law, Deepak Singh is the founder and senior consultant at **Singh and Associates**, a leading advisory firm providing a wide range of business services. Over the years, Deepak has built a solid reputation for his expertise in complex tax issues and his commitment to delivering practical, effective solutions to both businesses and individuals. Deepak’s core specialization lies in **GST (Goods and Services Tax)**, **Income Tax**, and **litigation-related matters**. His deep understanding of these areas allows him to assist clients with tax planning, compliance, and dispute resolution. He has successfully represented numerous clients in tax-related audits and legal proceedings, ensuring they navigate the intricate landscape of tax laws with ease and stay fully compliant with the latest regulations. Beyond taxation, Deepak has gained significant experience in **company incorporation** and **compliance management**. He provides end-to-end support for businesses, helping them with the process of establishing a legal entity, ensuring proper registration, and adhering to the necessary corporate governance and statutory compliance requirements. His expertise helps companies maintain smooth operations by staying on top of regulatory changes and fulfilling their legal obligations. In addition to his taxation and corporate services, Deepak has an in-depth understanding of **labor law litigation**, where he assists businesses in managing employment-related disputes. Whether handling issues related to labor contracts, employee disputes, or ensuring compliance with labor laws, Deepak helps businesses navigate these challenges to avoid potential risks and liabilities. Deepak is also highly experienced in **transfer pricing**, offering businesses advisory services on international transactions and cross-border taxation. He ensures that clients maintain compliant and tax-efficient pricing structures, minimizing their exposure to risks in the global market. As the founder of **Singh and Associates**, Deepak takes a client-centric approach, offering personalized, strategic guidance to address each client’s unique needs. His proactive approach, combined with his ability to translate complex tax and legal concepts into actionable advice, has earned him the trust of clients across various sectors. Known for his attention to detail and comprehensive knowledge of business law, Deepak is committed to providing results-oriented services that help businesses achieve financial growth while ensuring regulatory compliance. His firm, **Singh and Associates**, has established itself as a reliable partner for businesses seeking expert guidance on taxation, legal matters, and corporate compliance. Deepak is dedicated to staying updated with the latest developments in tax and business law. His ongoing commitment to professional growth ensures that Singh and Associates remains at the forefront of industry trends, offering innovative and compliant solutions to meet the evolving needs of businesses in today’s competitive landscape.