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Fin min kicks off budget exercise

The finance ministry on Tuesday kick-started the consultation for next year's budget (2012-13) with a meeting of financial advisers of various ministries, amid signs of a widening fiscal deficit.

business Updated: Oct 18, 2011 21:58 IST
HT Correspondent

The finance ministry on Tuesday kick-started the consultation for next year's budget (2012-13) with a meeting of financial advisers of various ministries, amid signs of a widening fiscal deficit.

As the busy season kicks in, policy makers at North Block and Mint Street that houses the finance ministry and the RBI respectively are splitting their hair to negotiate through issues such as high prices, erosion in revenues and a widening fiscal deficit.

An official said that on Friday, the finance ministry will hold inter-ministerial consultations with estimates of all the money departments will need for the following year. In November, finance ministry officials will hold consultations with industry associations, chambers of commerce, farmers associations and employees unions.