Finance minister to begin pre-budget consultation with India Inc in January

Finance minister Pranab Mukherjee today said that he would begin consultations with the industry from the first week of the next year for the budget to be presented on February 28.

"Let us wait for the D day. Let us wait for February 28," Mukherjee said at the Business Leader Awards of private news channel CNBC TV18 here when asked if the government would reduce taxes.

The minister said that he would start pre-budget consultation with stakeholders, including India Inc, in the first week of January and that would continue for two weeks.

Captains of India Inc who were present at the function highlighted their Budget expectations.

Adi Godrej, chairman of Godrej Industries, wanted more clarity on the Goods and Services Tax (GST) rollout while Tata Group senior executive Krishna Kumar said that the FDI needs to be opened in the country.

SBI chairman said public sector banks need more support from the government in terms of capital.

Mukherjee said he would try to accommodate as many suggestions as possible in his Budget proposals.