Finance Ministry starts 2027-28 pre-Budget meetings, Sitharaman likely Feb 1
The Ministry of Finance has started prepping for the 2027-28 budget, with pre-budget meetings running from October to mid-November.
These sessions, led by the expenditure secretary, are all about locking in spending plans for next year and updating this year's numbers.
Mark your calendars: Finance Minister Nirmala Sitharaman is likely to present the official budget on February 1, 2027.
Budget to reflect Apr-Dec 2026 spending
This time around, ministries have been told to skip over soon-to-end schemes in their proposals.
The new budget will be based on how much was actually spent between April and December 2026, while also factoring in global issues like crude prices seeing unusual swings and a weaker rupee.
Madan Sabnavis, chief economist at Bank of Baroda, said the expenditure on revenue account could be higher and there can be pressure on the fiscal deficit ratio.