Union Budget 2027-28: Finance Ministry to Begin Pre-Budget Discussions on October 12, 2026

The Union Budget 2027-28 is likely to be presented on February 1, 2027, with the Finance Ministry beginning the preparatory exercise from October 12, 2026, as per news reports. The pre-budget meetings will continue until November 13, 2026. 

The process will cover the Revised Estimates (RE) for 2026-27 and the Budget Estimates (BE) for 2027-28 relating to grants and appropriations. 

Economic Backdrop 

The Budget is being prepared at a time when the global economy is facing several external pressures. The ongoing West Asia crisis has disrupted supply chains, while crude oil prices remain elevated, and global growth has moderated. 

India's economy grew 7.8% in the first quarter of FY27. Growth for the current financial year is expected to be around 7%, according to the information provided. 

Reform and Demand 

The next financial year's Budget is expected to continue the government's reform programme, with job creation and domestic demand among the areas expected to receive attention. 

The spending plans will be worked out against this wider economic backdrop as ministries submit their requirements for 2027-28. 

October Meetings 

The Budget Division, in a notice dated September 23, 2026, said discussions with ministries and departments would begin from October 12, 2026. The meetings will be held with the Department of Expenditure under the chairmanship of the Secretary (Expenditure). 

The Budget Estimates for 2027-28 will be provisionally finalised after the scheduled discussions are completed. 

October 6, 2026, Deadline 

Ministries and departments have been asked to submit the required details by October 6, 2026. The meeting schedule has been circulated in advance, with the Budget Division saying it has been prepared after taking various exigencies into account. 

The 2027-28 Budget is to be the fourth Budget of the Modi 3.0 government. It will also mark Finance Minister Nirmala Sitharaman's 10th consecutive Budget presentation. 

Read More: ADB Revises India Growth Outlook; FY27 Forecast at 7%, FY28 at 7.1%! 

Conclusion  

The October-November discussions will cover departmental spending requirements before the Budget Estimates for 2027-28 are provisionally finalised. 

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