Overview

• The Department of Economic Affairs issued a Budget Circular directing financial advisers to file Appendices I–VII by October 3, 2025, with hard copies for cross‑verification.
• Pre‑budget meetings chaired by the Secretary (Expenditure) will begin on October 9, 2025.
• Budget Estimates for 2026‑27 will be provisionally finalised after the pre‑budget meetings, while Revised Estimate discussions are slated to run until around mid‑November 2025.
• Ministries must justify continued grant‑in‑aid for autonomous bodies with dedicated corpus funds and explain why such entities should not be wound up.
• The 2026‑27 Budget is expected to be presented on February 1, 2026, with planning guided by government projections for 6.3–6.8% real growth, 10.1% nominal GDP growth, a 4.4% fiscal deficit target, and press‑reported US tariffs of 50% on Indian shipments.