Archive · 20 Jan 2026
Budget 2026: Reforms, Restraint, and Record-Breaking Presentation
The Union Budget 2026 is a big event where the Finance Minister, Nirmala Sitharaman, will present the government's financial plan for the year.
Before the Budget is presented, there's a special ceremony called the Halwa Ceremony.
In this ceremony, a sweet called halwa is served to the officials working on the Budget.
This marks the start of a strict lock-in period where no changes can be made to the Budget.
The Budget will be presented on February 1, 2026, which is a Sunday, making it the first time a Budget is held on a Sunday.
This Budget is also special because it will be the ninth consecutive Budget presented by Sitharaman, breaking her own record.
The Budget will include important tax reforms and other financial decisions that will affect the country.
The government plans to focus on restraint and reforms, aiming to meet fiscal deficit targets and continue economic growth.
The Budget session of Parliament will begin on January 28 and continue until April 2.
The Union Budget 2026-27 will be presented by Finance Minister Nirmala Sitharaman on February 1, 2026, marking her ninth consecutive Budget.
The Budget will be the first to be held on a Sunday, introducing a new tradition and making Sitharaman the longest-serving finance minister in terms of Budget presentations.
Key tax reforms and administrative changes are expected, including the implementation of the new Income-tax Act, 2025, and a focus on fiscal deficit targets.
The government aims to meet its FY26 fiscal deficit target of 4.4% of GDP and expects a fiscal deficit of 4.2% of GDP in FY27, with a net borrowing bill of Rs 11.5 lakh crore.
The Budget session of Parliament will begin on January 28 and continue until April 2, with the Budget presentation playing a key role in shaping India's economic roadmap for the coming financial year.
- Who
- Finance Minister Nirmala Sitharaman and the Ministry of Finance officials
- What
- Preparation and presentation of the Union Budget 2026-27
- When
- February 1, 2026
- Where
- Parliament of India
- Why
- To finalize and present the annual financial plan, tax reforms, and economic roadmap
- Budget Date
- February 1, 2026
- Budget Presentation Time
- 11 am
- Halwa Ceremony Significance
- Marks the finalization of Budget proposals and the start of the lock-in period
- Income-tax Act 2025
- Applicable from April 1, 2026
- NITI Aayog Working Papers
- Released in October 2025, focusing on Permanent Establishment and Decriminalisation
- Nirmala Sitharaman's Budget Records
- Longest speech, first paperless Budget, introducing the 'Budget Bahi Khata'
- Budget 2026 Significance
- First Budget to be held on a Sunday
- Fiscal Deficit Target FY26
- 4.4% of GDP
- Expected Fiscal Deficit FY27
- 4.2% of GDP
- Net Borrowing Bill FY27
- Rs 11.5 lakh crore
- Gross Borrowing FY27
- Rs 16 lakh crore
- Parliament Budget Session
- January 28 to April 2, 2026
Sources
Union Budget 2026: What is the Halwa Ceremony? What is its significance? Explained
Longest speech, going digital — 4 Budget records that FM Nirmala Sitharaman holds
Reckoners for Budget 2026: A quiet reset before the new tax era?
Budget 2026 Expectations LIVE Updates: Lok Sabha Speaker Om Birla confirms Budget speech date on 1 February
Budget 2026 Income Tax Expectations Live: Will old tax regime be scrapped, exemption be raised? What taxpayers expect
Budget 2026 alert! Metropolitan Stock Exchange of India to remain open for trading on February 1
Budget 2026: Reforms to continue with restraint, says report
