Finance Minister Nirmala Sitharaman arrived at Parliament today, February 1, 2026, to present the Union Budget 2026-27, marking her ninth consecutive budget presentation. In a striking visual statement, she was seen wearing a magenta Kanjeevaram silk saree with intricate Kasuti embroidery. The choice of saree is being interpreted as a nod to Tamil Nadu's rich weaving heritage, particularly significant as the state prepares for elections later this year.
Sitharaman's sartorial choices on Budget Day have consistently drawn attention, serving as a blend of Indian craftsmanship and subtle symbolism. This year's Kanjeevaram silk saree, known for its rich texture and vibrant colors, pays tribute to Tamil Nadu, her home state. The intricate Kasuti embroidery, a traditional form of needlework from Karnataka, further enhances the saree's elegance.
In previous years, Sitharaman has used her attire to convey specific messages. For the 2020 budget, she wore a bright yellow-gold silk saree with green borders, symbolizing prosperity and economic growth. In 2021, she chose a red and white Pochampally ikat from Telangana, recognized for its geometric patterns, with the color scheme symbolizing auspiciousness and new beginnings.
Beyond the sartorial statement, the Union Budget 2026-27 is projected to be ₹54.1 lakh crore, reflecting a 7.9% year-on-year growth. According to the Economic Survey 2026, India's economy is projected to grow at 7.4% in FY26 and between 6.8% and 7.2% in FY27, driven by regulatory reforms, a strong macroeconomic base, and a renewed push for private sector investment. The budget is expected to focus on strengthening India's long-term growth potential by building a robust consumption class through income tax cuts, increasing rural income via agricultural productivity growth, and improving access to credit for self-employment.
The presentation of the budget on a Sunday is a historic first for India. To accommodate this, the stock exchanges NSE and BSE have announced special trading sessions. The pre-open market operated from 9:00 am to 9:08 am, followed by normal trading from 9:15 am to 3:30 pm.
The Finance Minister also presented the statement of estimated receipts and expenditure of the Government of India for 2026–27. Furthermore, she tabled two statutory statements under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003: the Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-Economic Framework Statement. Sitharaman is expected to seek leave to introduce and formally move the Finance Bill, 2026, in the Lok Sabha.
