India begins preparations for Union Budget 2027-28

The Indian government has commenced preliminary preparations for the Union Budget 2027-28. Ministries and government departments have been instructed to provide practical estimates for expected revenue and expenditure for the upcoming financial year.

The Finance Ministry is prioritizing expenditure control and the review of existing government schemes. Underperforming or overlapping programs may face increased scrutiny to ensure efficient use of allocated funds. Additionally, the government aims to bolster non-tax revenues through improved returns from public-sector assets, government services, fees, and dividends to create financial space without increasing taxpayer pressure.

Formal pre-Budget meetings, chaired by the Secretary (Expenditure), are scheduled to take place from October 12, 2026, through mid-November. These discussions will be critical in determining spending priorities across key sectors such as infrastructure, manufacturing, transport, and energy.