The Union Budget for the financial year 2026-27 is set to be presented in the Lok Sabha on February 1, 2026, with the Economic Survey to be tabled on January 29. Finance Minister Nirmala Sitharaman is expected to present her ninth consecutive budget, a landmark achievement in her tenure. The Budget Session is scheduled to commence on January 28, with the President's address to both houses of Parliament.
Key Highlights
- Budget Presentation Date: Sunday, February 1, 2026.
- Economic Survey Date: Thursday, January 29, 2026.
- Budget Session Start Date: Wednesday, January 28, 2026.
- Finance Minister: Nirmala Sitharaman.
A Break from Tradition
The presentation of the Union Budget on February 1 marks only the second time in independent India's history that it will be presented on a Sunday. The first instance was on February 27, 1999, when then Finance Minister Yashwant Sinha presented the Budget for 1999-2000. This also broke from the British-era tradition of presenting the Budget at 5 pm, with Sinha moving the presentation to 11 am, a practice that continues today.
The Significance of February 1
Since 2017, the Union Budget has been consistently presented on February 1. This shift from the last working day of February was implemented to allow quicker parliamentary approval and ensure that the budget measures could be implemented from the beginning of the financial year on April 1. Previously, delays often pushed implementation to May or June.
The Economic Survey
The Economic Survey, a crucial precursor to the budget, will be presented on January 29. Prepared by the Department of Economic Affairs (DEA) under the supervision of the Chief Economic Advisor (CEA), currently V Anantha Nageswaran, the Economic Survey provides a comprehensive overview of India's economic performance in the past financial year. The survey is divided into two parts: Part A, which covers major economic developments and a broad review of the economy, and Part B, which addresses specific issues such as social security, poverty, education, healthcare, and climate change. The Economic Survey acts as an annual economic report card for India, identifying strengths, areas needing attention, and potential risks, thus guiding the government in allocating resources and making informed decisions for the Union Budget.
Budget Session Details
The Budget Session will be held in two phases:
- First Phase: January 28 to February 13
- Second Phase: March 9 to April 2
The session begins with the President's address to the joint sitting of both houses, followed by a general discussion on the budget. Subsequently, departmental committees scrutinize the demands for grants, followed by voting on these demands. The passing of the Appropriation Bill and the Finance Bill are also crucial stages in the budgetary process.
What to Expect
With the presentation of the Union Budget 2026-27, Finance Minister Nirmala Sitharaman is approaching the record of presenting the most budgets, currently held by Morarji Desai with 10 budgets. The upcoming budget is expected to focus on sustaining economic momentum, with potential relief measures for the middle class.
