Politics · India Bureau
Finance Ministry launches Budget 2027-28 preparation exercise from October 12
The Finance Ministry will initiate pre-budget consultations on October 12 to begin formulating the Union Budget for fiscal year 2027-28. The budget is expected to prioritize economic reforms, job creation and domestic demand amid global uncertainties and rising commodity prices.
LSN India ·
The Department of Economic Affairs has issued the Budget circular 2027-28, formally commencing the budget preparation exercise with pre-budget meetings chaired by the Secretary (Expenditure) starting October 12, 2026. Financial Advisers have been directed to ensure all necessary details are properly entered into the Union Budget Information System (UBIS) by October 6, 2026, with hard copies submitted for cross-verification.
The upcoming budget will be formulated against a backdrop of elevated global economic uncertainties and persistent pressures from rising food and fuel prices. According to the circular, the budget is expected to emphasize continuation of reform initiatives aimed at further accelerating India's economic growth trajectory.
Key focus areas for the 2027-28 budget include measures to generate employment opportunities and stimulate domestic demand, addressing priorities that align with broader economic objectives. The budget will mark the fourth for the Modi 3.0 government and the tenth consecutive budget presented by Finance Minister Nirmala Sitharaman, a distinction rarely seen in Indian parliamentary history.