The finance ministry will start preparations for the 2025-26 budget in the second week of October, following a robust 7% economic growth rate for the fourth consecutive year.
The upcoming budget will prioritise reforms aimed at accelerating growth and generating employment, while also boosting demand within the economy.
Pre-budget meetings, chaired by the Secretary of Expenditure, are set to begin in mid-October, with financial advisers required to input necessary details into the Union Budget Information System (UBIS) by 7 October. Hard copies of the data must also be submitted for verification.
This will be the second budget under Prime Minister Narendra Modi's third administration and the eighth consecutive budget for Finance Minister Nirmala Sitharaman, a rare feat in Indian politics.
All ministries and departments must provide information on autonomous bodies and implementing agencies that receive dedicated funding, detailing the justification for their continued support and the need for grant-in-aid.
The Budget Estimates for 2025-26 will be provisionally finalised following the completion of pre-budget discussions, which will continue until mid-November. These meetings will address funding requirements for various expenditures and assess revenue estimates from both ministries and departmentally-run commercial undertakings.
The budget is expected to be presented on 1 February during the initial phase of Parliament's Budget session, which typically begins in the last week of January.
In the current fiscal year's budget, the government projected a nominal GDP growth of 10.5% and a fiscal deficit of 4.9% of GDP. The Modi administration had previously moved the budget presentation date from late February to 1 February in 2017, allowing ministries to access their funds from the start of the financial year in April, thereby facilitating smoother government operations and business planning.
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