Archive · 4 Nov 2025
Finance Ministry Seeks Trade Suggestions for Union Budget 2026-27
Imagine the government is planning a big party, the Union Budget, for next year.
To make sure everyone has a good time and the party runs smoothly, they are asking people who own businesses and work in trade for their ideas.
They want to know how to make rules easier to follow, make taxes less confusing, and avoid arguments about taxes.
They are also looking for ideas on how to change taxes on goods and how much tax to charge, but they specifically said no asking for freebies or tax breaks.
They also mentioned that ideas about the Goods and Services Tax (GST) are handled at a different time.
The goal is to make things simpler and better for businesses and taxpayers.
The Finance Ministry is preparing the Union Budget for 2026-27 and has requested input from trade and industry.
Key areas for suggestions include reducing compliance burdens and increasing stability within tax regimes.
The ministry is also seeking proposals for tax certainty, reducing litigation, and changes to duty structures and tax rates.
Industry associations are discouraged from requesting tax giveaways, aligning with a medium-term policy to phase out incentives.
Requests related to Goods and Services Tax (GST) will not be considered as part of the annual budget process.
- Who
- Finance Ministry and Revenue Secretary Arvind Shrivastava
- What
- Seeking suggestions from trade and industry associations for the Union Budget 2026-27
- When
- Preparations underway for the Union Budget 2026-27
- Where
- India
- Why
- To incorporate trade and industry feedback, focusing on reducing compliances, improving tax stability, and enhancing ease of doing business.
- Budget Year
- 2026-27
- Ministry
- Finance Ministry
- Action
- Seeking suggestions from trade and industry
- Focus Areas
- Reducing compliances, improving tax stability, tax certainty, reducing litigations, duty structure, tax rates, broadening tax base
- Exclusions
- Tax giveaways, GST-related requests (handled separately)
- Key Official
- Revenue Secretary Arvind Shrivastava