Finance Minister Nirmala Sitharaman is expected to present the Union Budget for 2026-27 on February 1.
Ahead of Union Budget 2026-27, Prime Minister Narendra Modi on Tuesday met eminent economists and sectoral experts and sought their views on the upcoming Budget. According to reports, Finance Minister Nirmala Sitharaman, Niti Aayog Vice Chairman Suman Bery, NITI Aayog CEO BVR Subrahmanyam, other members of the Aayog, economists and sectoral experts are also present in the meeting.
Finance Minister Nirmala Sitharaman is expected to present the Union Budget for 2026-27 on February 1.
Budget may reinforce growth by backing domestic demand
Meanwhile, a report stated that the Union Budget for 2026-27 may reinforce growth by backing strong domestic demand through targeted fiscal support, complementing the RBI’s growth-oriented monetary stance.
The EY Economy Watch report said although there may be some revenue sacrifice due to income tax and GST reforms during the current fiscal year, some unbudgeted additional receipts under non-tax revenues and some reduction in the budgeted magnitude of revenue expenditures may still enable the Government to adhere to the budgeted targets for fiscal deficit and capital expenditure.
Also, two revenue enhancing measures have recently been announced relating to excise duty on tobacco products and national security and public health cess, it said.
CII suggests reforms to drive investment-led growth
Industry lobby Confederation of Indian Industry (CII) has proposed a comprehensive set of reforms for the forthcoming Union Budget 2026-27 to drive sustained investment growth spanning public, private, and foreign investments and maintain India’s momentum as one of the world’s fastest-growing major economies.
suggested increasing central capital expenditure by 12 per cent and capex support to states by 10 per cent in FY27; launching a Rs 150 lakh crore National Infrastructure Pipeline (NIP) 2.0 for 2026-32; offering incremental tax credits or compliance relaxations for firms achieving significant new investment, production, or tax contribution milestones; and establishing an NRI Investment Promotion Fund.
With agency inputs
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