Budgetary Exercise News Today

In a circular dated September 1, the Department of Economic Affairs said: "Pre-budget meetings chaired by secretary (expenditure) shall commence in the second week of October 2023... shall continue till around mid-November 2023," the circular said. It has also asked the departments to "ensure accurate projection of estimates"-for both the revised estimates for this fiscal year and the budget estimates for 2024-25.

The discussions will focus on whether any expenditure rationalisation is required to offset the additional costs arising from the extension of the free food scheme, as well as the impact of rising global energy prices. 

The budget for the next year will have to address critical issues of high inflation, boosting demand, job creation and putting the economy on a sustained 8 per cent-plus growth path.

Chief executives and CEOs of companies from sectors ranging from telecom, electronics, auto, hospitality and consumer goods shared their views