Govt Begins Union Budget 2027-28 Preparations, Pre-Budget Meetings From October 12

New Delhi - The government has initiated preparations for the upcoming Union Budget 2027-28, with the Finance Ministry issuing a Budget Circular outlining the framework, timelines, and guidelines for the annual budget-making process. This circular sets the stage for the preparation of Revised Estimates for 2026-27 and Budget Estimates for 2027-28.

Ministries and departments are required to submit their detailed expenditure projections ahead of the pre-budget consultations, which are scheduled to commence from October 12, 2026. The pre-budget meetings will allow the ministries and departments to furnish the necessary information by October 6. The Budget Circular emphasizes the importance of aligning with the government's vision of building a developed India by 2047, with expenditure proposals reflecting approved government priorities and realistic resource requirements.

The Department of Economic Affairs under the Finance Ministry has stressed the necessity for accurate budgetary projections and the minimization of additional resource requirements during the financial year. All proposed allocations must have the approval of the competent authority, and continuing schemes must have approved expenditure plans in place.

The government has also reiterated the need for confidentiality in budget-related information, with financial advisers directed to ensure secure data handling through prescribed systems. The Budget Circular marks the beginning of the government's first major fiscal planning exercise for 2027-28, with expenditure priorities to be calibrated against available fiscal resources and the government's long-term objective of achieving the Viksit Bharat @2047 vision.