Finance Minister Nirmala Sitharaman arrived at Parliament on Sunday to attend the Union Cabinet meeting ahead of presenting the Union Budget for 2026–27 in the Lok Sabha. This will be Sitharaman’s ninth consecutive Union Budget.
The Union Cabinet, chaired by Prime Minister Narendra Modi, is scheduled to approve the Union Budget 2026–27 before it is tabled in Parliament. The Finance Minister will present the Budget during the ongoing Budget Session of Parliament, with the Lok Sabha convening at 11 am, as per the List of Business.
During the session, Sitharaman will present a statement outlining the estimated receipts and expenditure of the Government of India for the financial year 2026–27. She will also table two mandatory statements under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These include the Medium-Term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-Economic Framework Statement.
According to the List of Business, the Finance Minister will also seek permission to introduce the Finance Bill, 2026, in the Lok Sabha. The Finance Bill provides the statutory backing for the government’s financial proposals announced in the Budget.
Sitharaman is expected to present a Union Budget of approximately ₹54.1 lakh crore for FY 2026–27, reflecting a year-on-year growth of 7.9 per cent, according to a report by Sunidhi Securities & Finance Limited. The report noted that Total Expenditure (TE) as a share of GDP remains the most reliable measure of the government’s fiscal approach.
This Budget will be the first after the implementation of major reforms, including the Goods and Services Tax (GST) overhaul and the Labour Codes. The government has merged 29 existing labour laws into four Labour Codes covering wages, industrial relations, social security, and occupational safety. These reforms aim to extend social security coverage to unorganised, gig, and platform workers, while also enhancing workplace safety and easing compliance requirements for employers.
At the same time, the government’s GST reforms—referred to as “GST 2.0”—are focused on simplifying the indirect tax system through a two-rate structure of 5 per cent and 18 per cent. The reforms seek to lower compliance costs and reduce the cost of living by cutting tax rates on essential goods and services.
The Budget assumes added significance this year as the government is expected to prioritise export growth following the United States’ decision to impose a 50 per cent tariff on Indian goods.
Earlier this week, on Thursday, Sitharaman tabled the Economic Survey for the 2025–26 financial year in Parliament.
The Budget Session will consist of 30 sittings spread over 65 days and is scheduled to conclude on April 2. Parliament will adjourn for a recess on February 13 and reconvene on March 9, allowing Standing Committees to examine the Demands for Grants of various ministries and departments.
