The Finance Ministry has issued a circular, in which information has been given about the preparations for the budget.
The Finance Ministry has issued a circular regarding the preparations for the budget. In which it has been said that the ministry and its related department will start preparations for the October Budget 2026. The special thing is that this budget is coming after Trump’s 50 percent tariff. According to experts, there is no scope for any reconciliation between the two countries before the upcoming budget in February next year. In such a situation, the focus of the budget will be more visible to revive those sectors, whose loss of tariffs will be more. Let us also tell you what kind of information has been revealed from the Finance Ministry.
Preparation for budget 2026 will start
The Finance Ministry will start the process of preparing the budget for 2026-27 from October 9. Preparations for the budget are going to start globally amid uncertainty and 50 percent US fee on Indian goods. In next year’s budget, there will be attention to issues to increase demand, employment generation and economy at a continuous growth rate of more than eight percent. The government estimates that during the current financial year, the country’s economic growth rate will be between 6.3 and 6.8 percent.
Important things of circular
According to the budget circular (2026-27) of the Department of Economic Affairs, the budget-pre-meeting chaired by the Secretary (Expenditure) will start from October 9, 2025. The circular stated that financial advisors should ensure that the required details required in VII to VII are properly recorded before or before October 3, 2025. The data in specified formats should be submitted for hard copy verification. The budget estimates of FY 2026-27 will be temporarily finalized after the completion of the budget-pre-meetings and the revised estimate (RE) meetings will continue till mid-November, 2025.
Budget session will start from February 1
According to the circular, all ministries/departments should submit details of those autonomous bodies/implementation agencies, for which a separate fund has been created. The reason for their continuation and the need for grant aid and why it should not be eliminated should be given in detail. The budget of the current financial year 2026-27 is likely to be presented on February 1 at the beginning of the budget session of Parliament. In the current financial year budget, the growth rate of 10.1 percent has been estimated at the market price, while the fiscal deficit is estimated to be 4.4 percent of GDP (GDP).