New Delhi [India], November 12 (ANI): Union Finance Minister Nirmala Sitharaman on Wednesday chaired the third pre-Budget consultation meeting with stakeholders from the Micro, Small and Medium Enterprises (MSME) sector in New Delhi.

The meeting was held as part of the preparations for the forthcoming Union Budget 2026-27.

The meeting was also attended by Union Minister of State for Finance Pankaj Chaudhary, Secretary, Department of Economic Affairs, senior officials from the Ministry of Finance, and senior officials of the Ministry of MSME.

The discussions focused on key challenges faced by the MSME sector and measures to promote its growth and competitiveness.

In a social media post, the ministry stated, 'Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the third Pre-Budget Consultation with the stakeholders from Micro, Small and Medium Enterprises #MSMEs in connection with the forthcoming Union Budget 2026-27'

Earlier on Monday, the Finance Minister chaired the first pre-Budget consultation meeting with the country's leading economists in New Delhi in connection with the upcoming Union Budget 2026-27.

These meetings mark the beginning of the series of pre-Budget discussions that the Finance Ministry conducts annually as part of the budget preparation process.

A pre-Budget meeting is essentially a consultation and discussion process held by government finance officials and the Finance Minister with various stakeholders before the final annual budget is formulated and presented to the legislature.

The consultations serve as an important platform for the Finance Minister to gather suggestions, demands, and inputs from a wide range of participants, including industry associations, trade unions, economists, state government officials, and representatives from the social sector.

Through these discussions, the Finance Ministry aims to ensure that the Union Budget reflects diverse perspectives and addresses the needs of different sectors of the economy.

The consultations with economists and agriculturists marked the first phase of the government's broader engagement process leading up to the presentation of the Union Budget 2026-27.

The Union Budget is typically presented on February 1 of each year. This year too, Finance Minister Nirmala Sitharaman is likely to present the Union Budget for 2026-27 in Parliament on February 1. (ANI)