Union Budget 2026: Key Dates and Historical Significance Announced
Cabinet Committee Approves Budget Session Dates
January 8, 2026: The Cabinet Committee on Parliamentary Affairs (CCPA), led by Defence Minister Rajnath Singh, has officially approved the dates for the upcoming budget session of Parliament. Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2026-27 on February 1, 2026, which will mark the first time in 26 years that the budget is unveiled on a Sunday. The last occurrence was in 1999 when Yashwant Sinha presented the budget on a Sunday.
Schedule for the Budget Session
Session Timeline
- Start Date: The session will commence with the President's address on January 28, 2026.
- Economic Survey: This will be presented in Parliament on January 29, 2026, providing a comprehensive analysis of the country's economic status.
- Session Phases: The session will be divided into two phases: the first from January 28 to February 13 and the second from March 9 to April 2.
- Break: There will be a break in between to allow committees to review ministry demands.
Historical Context
Tradition Since 2017
- The practice of presenting the budget on February 1 was established to ensure proposals can be implemented before the new financial year begins on April 1. Previously, the budget was presented on February 28.
- Weekend Budget Presentations: Presenting the budget on a weekend is not unprecedented; Nirmala Sitharaman presented the 2025 budget on a Saturday, and Arun Jaitley did so in 2015 and 2016.
- This budget will be the 88th Union Budget of independent India.
Nirmala Sitharaman's Record
Historic Achievement
With this budget, Sitharaman will become the first finance minister to present nine consecutive budgets. This achievement will bring her closer to the record held by Morarji Desai, who presented a total of 10 budgets across two different terms.
- She will surpass P. Chidambaram (9 budgets) and Pranab Mukherjee (8 budgets). Sitharaman has been serving as India's first full-time female finance minister since 2019, continuing through all three terms of the Modi government.
Economic Outlook
Projected Growth
According to the government's preliminary estimates, India's real GDP growth for FY 2025-26 is projected to be 7.4%, an increase from last year's 6.5%. This reflects a positive outlook despite global challenges and tariff wars. The budget will be framed based on these projections.