Kolkata, Oct 14 (KNN) Since the finance ministry is kick-starting the exercise to prepare annual budget for 2020-2, the Federation of Small & Medium Industries (FOSMI) has started to workout on preparing Pre Budget Memorandum 2020-21 and has sought valuable inputs and specific suggestions for inclusion in the Memorandum.

''We invite the opinion/ issues/ suggestion in a very constructive manner from all the Industry Associations affiliated to FOSMI.

FOSMI said it will highlight the structural problems/ issues and recommendation for the benefit of the sector.

In a bid to address critical issues pertaining to slowdown in growth and subdued revenue collection, the finance ministry will kick-start the exercise to prepare annual budget for 2020-21 soon.

According to a Budget Circular (2020-21) of the budget division of the finance ministry's Department of Economic Affairs, the pre-Budget/RE (Revised Estimate) meetings will begin on the October 14, 2019. All financial advisers should ensure that the necessary details related to these meetings contained in the RE module of the UBIS (Union Budget Information System).

Pre-Budget meetings will begin from October 14 and continue till the first week of November. The Budget estimates for 2020-21 will be provisionally finalised after the expenditure secretary completes discussions with other secretaries and financial advisers.

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