Updated: January 31, 2026 11:42:30 am IST
Union Finance Minister Nirmala Sitharaman will present the budget for 2026-27 on Sunday, February 1.
India’s Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026-2027 on Sunday, February 1. This will be the ninth consecutive budget to be presented by Sitharaman, as well as an interim budget. The budget will outline the estimated receipts and expenditures of the central government, and will feed into its long-term economic planning. The BJP-led government of Prime Minister Narendra Modi has said that it aims to make India a developed nation, ‘Developed India’, by the year 2047.
This budget comes at a time when India is one of the fastest growing large economies in the world. However, the government faces a number of specific economic circumstances.
Global trade has also become less predictable due to geopolitical tensions primarily caused by US President Donald Trump’s tariff aggression.
The government will also have to manage the fiscal deficit. The target is to bring it down to below 4.5% of gross domestic product (GDP).
In previous years, the government increased spending on infrastructure, or capital expenditure (capex). Budget 2025 sees significant growth in this sector. Many economists are keeping an eye on whether this trend will continue in 2026. Higher capital expenditure is usually aimed at creating jobs, among other goals.
Expectations from Union Budget 2026-27
Trade organizations recently shared their views with the Finance Ministry during pre-Budget consultations. The Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have presented the list of recommendations.
A key request was for continued infrastructure spending, the report said. Manufacturing is another priority for the industry, with companies looking for incentives to expand factories in India.
Technology companies and startups also have specific requests, such as calling for clearer rules regarding artificial intelligence (AI) and renewable energy sources like green hydrogen.
The opposition alleges that the budget will remain a mere show. Leaders of Congress, Trinamool Congress (TMC) and Samajwadi Party have said that economic growth is not reaching everyone equally. Unemployment is a major topic for the opposition, and the focus is particularly on the repeal of the MNREGA program and its replacement with the VB G-RAM-G rural job scheme.
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This budget comes at a time when India is one of the fastest growing large economies in the world. However, the government faces a number of specific economic circumstances.
Global trade has also become less predictable due to geopolitical tensions primarily caused by US President Donald Trump’s tariff aggression.
The government will also have to manage the fiscal deficit. The target is to bring it down to below 4.5% of gross domestic product (GDP).
In previous years, the government increased spending on infrastructure, or capital expenditure (capex). Budget 2025 sees significant growth in this sector. Many economists are keeping an eye on whether this trend will continue in 2026. Higher capital expenditure is usually aimed at creating jobs, among other goals.
Expectations from Union Budget 2026-27
Trade organizations recently shared their views with the Finance Ministry during pre-Budget consultations. The Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have presented the list of recommendations.
A key request was for continued infrastructure spending, the report said. Manufacturing is another priority for the industry, with companies looking for incentives to expand factories in India.
Technology companies and startups also have specific requests, such as calling for clearer rules regarding artificial intelligence (AI) and renewable energy sources like green hydrogen.
The opposition alleges that the budget will remain a mere show. Leaders of Congress, Trinamool Congress (TMC) and Samajwadi Party have said that economic growth is not reaching everyone equally. Unemployment is a major topic for the opposition, and the focus is particularly on the repeal of the MNREGA program and its replacement with the VB G-RAM-G rural job scheme.
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January 31, 2026 11:42:25 am First
What is happening to gold and silver prices before Union Budget 2026?
There has been a huge jump in the prices of gold and silver in the last few days. Prices fell slightly on Saturday after hitting record highs at the beginning of the week. The price of gold in Delhi on January 31 was ₹The price of 24 carat gold is Rs 16,934 per gram.
January 31, 2026 11:40:31 am First
Union Budget 2026 Live: On the financial plans of Modi government, Minister Shivraj Chauhan says that the pace will increase
Union Minister Shivraj Singh Chouhan on Saturday said that the Union Budget 2026-27 will accelerate the path towards a developed India under the leadership of Prime Minister Narendra Modi.
The Agriculture Minister was speaking to reporters in Raipur, Chhattisgarh, from where he was scheduled to visit Durg and interact with local farmers.
Chouhan said, “Under the guidance of PM Modi, a prosperous, self-reliant and developed India is being built. This budget will increase its pace.”
Speaking on the VB G RAM Act issue, Chouhan accused the Congress of opposing development measures, saying the government has increased employment days from 100 to 125.
Chauhan said, “Congress’s job is to protest… every penny will be used for the development of villages.”
January 31, 2026 11:34:21 am First
Union Budget 2026 Live: Congress’s Jairam Ramesh expresses concern over GDP calculations
Congress MP Jairam Ramesh on Saturday raised concerns over the upcoming Union Budget and questioned whether key figures expressed as a percentage of GDP would need revision after the new GDP series is released in February.
He flagged the potential impacts of the change in inflation measurement on the budget, citing the expected rollout of the new consumer price index series and calling it an issue of policy coordination.
In a post on Twitter, the Congress MP wrote, “First, many of the budget figures will be expressed as % of GDP. However, just twenty-six days later on February 27, 2026, the new and updated GDP series taking 2022/23 as the base is scheduled to be released. Will the budget numbers be revised immediately after the unveiling on February 1, 2026?”
He said, “Second, the new Consumer Price Index (CPI) series with 2024 as the base is expected to be released on February 12, 2026. It is being anticipated that the share of food prices will be drastically reduced in the new series. If that were to happen, the Budget numbers would be impacted. The Wholesale Price Index is also undergoing revision and will probably be made public in the next few months. Either way, it reflects poorly on coordination in policy making.”
January 31, 2026 11:31:34 am First
Union Budget 2026 LIVE: What are the GDP estimates, what did the Economic Survey say?
As Finance Minister Nirmala Sitharaman is set to present the Union Budget for the ninth consecutive time on February 1 (Sunday), the Economic Survey released ahead of that has estimated India’s potential growth rate at around 7 per cent.
It is also estimated that India’s GDP growth is likely to be between 6.8 per cent and 7.2 per cent in FY2027, reflecting the medium-term strength of the economy supported by reforms and macroeconomic stability.
The survey said that while global economic conditions remain uncertain and fragile, India’s overall outlook remains positive. This highlighted that India’s growth is better than expected compared to many other economies, although risks remain elevated due to global uncertainties, news agency ANI reported.
January 31, 2026 11:29:52 am First
Union Budget 2026 LIVE: Welfare schemes ‘not properly identifying people who are actually in need’, say experts
Speaking on expectations from the Union Budget 2026, Professor M Ramulu of Osmania University spoke of the need for a more targeted approach to welfare schemes.
“In the name of welfare schemes, the benefits are often reaching people who are already financially stable. We are not identifying the truly needy,” Ramulu said.
Speaking to ANI, he claimed, “Although 70-80% of the population is getting benefits, when poverty is taken into account, less than 20% of the poor are actually getting the benefits.”
“My request is to properly identify the needy and exclude others. Welfare is important, but welfare should not be limited to free rice; education and health care are being neglected. Identifying the needy will reduce unnecessary expenditure. This saved expenditure can be converted into productive investment, benefiting people more effectively.”
January 31, 2026 11:27:04 am First
Union Budget 2026 LIVE: Economists expect focus on jobs, agriculture, MSME, green economy
As Union Budget 2026 approaches, economists are focusing on the government’s priorities and possible announcements.
Speaking to news agency ANI, Professor Satish Raikindi of Osmania University said, “The current Indian economy plays an important role, and for sustainable development we can move ahead with optimism. The Indian government is giving priority to areas like employment generation, agricultural development, inclusive manufacturing, digital transformation, rural-urban integration and green economy.”
“By focusing on these priority sectors, India can achieve sustainable growth across the country. Every common man is looking forward to relief in tax slabs, affordable housing, healthcare, employment and education,” he said.
Professor M Ramulu of Osmania University stressed the need for investment in small sectors like startups, small scale industries and sector-based industries.
“Most of the capital is flowing into capital-intensive industries, where growth rates and profits are higher, especially in the industrial and manufacturing sectors. These investments should also spread to smaller sectors such as startups, small-scale industries and sector-based industries,” Professor Ramulu said.
He said, “At present, most of the investments are concentrated in the capital and metropolitan cities, which creates environmental issues, pollution and excessive population concentration. I hope that in this budget, instead of focusing only on big industries, investments should be distributed across all the states, especially towards agro-based industries, small startup manufacturing units and decentralized industries.”
