4 days ago
Government Begins Preparations for India’s Union Budget 2027-28
The government is starting work on its next national budget.
The budget explains how much money the government expects to receive and spend.
Meetings with ministries will begin on October 12, 2026.
Government departments must send their information by October 6.
Officials will first protect money for ongoing projects and essential bills.
They will then examine requests for new projects.
They will also review revenues, unpaid dues, subsidies and service charges.
A computer system called UBIS will collect the information.
The Ministry of Finance will later set spending limits before the budget is presented to Parliament.
The Ministry of Finance will begin pre-Budget meetings for 2027-28 on October 12, 2026.
Ministries and departments must submit required data through UBIS by October 6.
The exercise will prepare Revised Estimates for 2026-27 and Budget Estimates for 2027-28.
Officials will review continuing schemes, spending needs, revenues, subsidies, arrears and unused funds.
Final expenditure ceilings are expected in late December 2026 or early January 2027.
- Who
- The Ministry of Finance, the Department of Economic Affairs, and central ministries and departments are involved; the meetings will be chaired by Expenditure Secretary V. Vualnam.
- What
- The government has begun preparing the Union Budget 2027-28, including Revised Estimates for 2026-27 and Budget Estimates for 2027-28.
- Where
- The exercise concerns India’s Union Budget and is reported from New Delhi.
- When
- Required information is due by October 6, 2026, and pre-Budget meetings begin on October 12, 2026.
- Why
- The process is intended to produce realistic spending and revenue estimates, control unnecessary expenditure, fund approved priorities and establish limits for the budget documents presented to Parliament.
Key facts
- Pre-Budget meetings
- Begin October 12, 2026
- Initial data deadline
- Ministries and departments must enter required information in UBIS by October 6, 2026
- Fiscal deficit target
- The target for 2026-27 was set at 4.3% of GDP, compared with 4.4% in the revised estimate for 2025-26
- Tax receipt deadline
- Estimates are due by October 15, 2026
- Fiscal responsibility disclosures
- Required statements are due by November 6, 2026
- Final expenditure ceilings
- Expected to be reflected in UBIS by the end of December 2026 or early January 2027
- Parliamentary documents
- Detailed Demands for Grants will support the Demands for Grants, Expenditure Budget, Expenditure Profile, Annual Financial Statement and Appropriation Bill
Sources
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