Govt to kick off FY26 Budget making exercise from 2nd week of next month

The finance ministry will commence the exercise to prepare the annual budget for 2025-26 from the second week of next month in the backdrop of the Indian economy recording 7 per cent growth rate for the fourth consecutive year.

The budget for the next financial year would focus on reforms to be pushed to further accelerate growth momentum and measures to generate jobs and boost demand in the economy.

"Pre-budget meetings chaired by Secretary (Expenditure) shall commence in the second week of October 2024. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 7, 2024," Budget circular 2025-26 issued by the Department of Economic Affairs said.

Hard copies of the data in the specified formats should be submitted for cross-verification, it said.

It will be the second budget of the Modi 3.0 government and 8th straight Budget for Finance Minister Nirmala Sitharaman, a rare distinction in Indian ...