pm-modi-to-meet-economists-experts-ahead-of-union-budget

Prime Minister Narendra Modi will meet eminent economists and sectoral experts on Tuesday to seek their views on the upcoming Union Budget 2026-27.

 

As per the senior government officials, Prime Minister Narendra Modi will convene with leading economists and sectoral experts on Tuesday to gather insights for the forthcoming Union Budget. Finance Minister Nirmala Sitharaman is slated to present the 2026-27 Budget on February 1, amidst global geopolitical challenges and a significant US tariff on Indian exports.

 

Finance Minister Nirmala Sitharaman is likely to present the Union Budget for 2026-27 on February 1. She will present the Budget against a backdrop of geopolitical uncertainties and a steep 50 per cent US tariff on shipments from India.

Besides economists and sectoral experts, Niti Aayog Vice Chairman Suman Bery, NITI Aayog CEO BVR Subrahmanyam and other members of the Aayog will also attend the meeting.

 

Individual taxpayers and businesses have started preparing for the Union Budget, which will set the government’s spending and taxation plans for the upcoming year. Many are hoping for a smoother shift to the new Income Tax Act, 2025, with changes that make compliance easier and reduce financial pressure.

 

With inflation affecting household budgets, middle-class families are seeing for measures that increase disposable income and simplify tax rules. Business leaders are also keen on incentives that encourage investment and growth in key sectors.As for the preparations, the budget process starts months in advance. The Ministry of Finance sends out instructions to ministries, states, and autonomous bodies, asking them to submit their revenue and spending plans.

 

These submissions form the basis of the government’s annual financial blueprint. The exercise starts with the Ministry of Finance issuing guidelines to ministries, states, Union territories and autonomous bodies, asking them to submit estimates of their revenue and expenditure. These inputs serve as the foundation for the entire budget exercise.

 

Officials then go through the submissions to prepare detailed projections of income, spending and the expected fiscal deficit. The Chief Economic Advisor provides inputs on economic conditions and fiscal choices.