Pre-Budget Consultations for 2026-27 Begin with Economists and Agriculturists
Union Finance Minister Nirmala Sitharaman has initiated the pre-Budget consultation process for the Union Budget 2026-27, chairing the first meeting with leading economists in New Delhi on Monday.
Key Meeting Details
The consultation with economists commenced at 10 AM and continued until 12 noon. This was immediately followed by another session with prominent agriculturists and farmer organizations scheduled from 1 PM to 3 PM.
The Ministry of Finance confirmed the developments through a social media post stating: “Union Minister for Finance & Corporate Affairs Smt.@nsitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi”.
Key Takeaways
- First pre-Budget consultations for 2026-27 budget begin in New Delhi
- Finance Minister Nirmala Sitharaman chairs meetings with economists and agriculturists
- Budget scheduled for presentation on February 1, 2026
- Industry chambers have already submitted their recommendations
Stakeholder Engagement Process
These meetings represent the initial phase of the government’s comprehensive engagement process leading to the Budget presentation. Pre-Budget consultations serve as a crucial platform for the Finance Minister to gather suggestions, demands, and inputs from diverse participants including:
- Industry associations and trade unions
- Economists and state government officials
- Social sector representatives
Through these discussions, the Finance Ministry aims to ensure the Union Budget reflects multiple perspectives and addresses various economic sector needs.
Industry Recommendations
Major industry bodies including (CII), (FICCI), and (PHDCCI) have already submitted their pre-Budget memoranda to the ministry.
Their key recommendations focus on:
- Implementing direct tax reforms
- Expanding the tax base
- Strengthening manufacturing capabilities
- Promoting innovation
- Enhancing tax compliance measures
The Union Budget 2026-27 is scheduled to be presented in Parliament on February 1, 2026, continuing the tradition of February 1 budget presentations.
