Budget 2026-27: On Sunday, Union Finance Minister Nirmala Sitharaman departed from Kartavya Bhavan to Rashtrapati Bhavan, holding her signature 'bahi-khata'. This year, the customary budget document was presented as a tablet encased in a red cloth adorned with a golden national emblem.
Sitharaman is scheduled to deliver the Union Budget for 2026-27 at 11 am in the Lok Sabha. This marks her ninth consecutive Union Budget presentation, setting a new record.
She was joined by Union Minister of State for Finance Pankaj Chaudhary, Chief Economic Adviser V Anantha Nageswaran, CBDT Chairman Ravi Agrawal, along with other senior officials from the Finance Ministry.
The Union Budget is the government's key financial document of the year. In today's session, Sitharaman will outline the projected income and spending of the Government of India for the fiscal year 2026-27.
This paper demonstrates:
What is the anticipated revenue for the government?
What is the intended expenditure?
Which industries will receive increased assistance?
The Finance Minister is set to present two significant statements in accordance with Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These statements comprise:
The Statement on Medium-term Fiscal Policy and Fiscal Strategy
The Macro-economic Framework Statement
These documents outline the government's fiscal strategy and economic forecast in straightforward language.
What is the Finance Bill and what makes it important?
Besides unveiling the Budget, Sitharaman will request authorization to introduce the Finance Bill, 2026 in the Lok Sabha and will formally present it.
The Finance Bill holds significance because:
It Grants legal authorization for the government's financial plans, including modifications in taxes, duties, and other financial regulations. The Budget proposals cannot be executed without the Finance Bill.
What did the Economic Survey report prior to the Budget?
Prior to the Budget, Sitharaman presented the Economic Survey of India 2025-26 in Parliament on Thursday. This continues the established practice of unveiling the Economic Survey before the Budget.
The Economic Survey acts as India's annual assessment of the economy, reviewing previous economic outcomes to guide future policy choices.
The Economic Division within the Department of Economic Affairs compiles the survey under the guidance of the Chief Economic Adviser. It is divided into two sections, each concentrating on distinct aspects of the economy.
What is the rate of growth for India's economy?
Union Minister Piyush Goyal, citing the Economic Survey, stated that the initial advance estimates forecast a real GDP growth of 7.4 percent for the fiscal year 2025-26.
This positions India as the fastest-expanding major economy for the fourth consecutive year.
Goyal pointed out that inflation was at 1.7 percent from April to December 2025, primarily because of reduced food prices, including vegetables and pulses. He mentioned that this indicates the government's successful management of inflation.
He also discussed the government's emphasis on manufacturing and the transition from 'Swadeshi' to 'Strategic Resilience' and 'Strategic Indispensability', with the goal of fostering confidence in purchasing Indian products without hesitation.
What is the duration of the 2026 Budget session?
The Budget Session of Parliament is scheduled for 30 meetings over a span of 65 days, ending on April 2.
The two Houses will take a break starting February 13 and will reconvene on March 9. In this interval, Standing Committees will evaluate the Demands for Grants from different ministries and departments.
