The Union Budget of India, officially known as the Annual Financial Statement under Article 112 of the Indian Constitution, is the Central government’s financial plan for the upcoming fiscal year (April 1 to March 31). It is a statement of the estimated receipts and expenditure of the government for that particular year. As the Union Budget 2026 approaches, let’s understand some of the key details that one should watch out for this Budget session.
The Union Budget is important because it shapes our country's economic strategies and affects families and businesses on a massive scale. It sets the stage for development goals in education, infrastructure, health and more. The budget outlines fiscal policy, decides tax changes and signals government priorities which can impact economic growth, jobs, and inflation.
Unlike many countries, India’s Union Budget is deliberated and approved by Parliament. It includes several documents such as the Finance Bill, Budget estimates, taxation proposals and departmental receipts and outlays. These are debated by Members of Parliament following the Finance Minister’s speech.
The Budget Session of Parliament will commence on January 28 and continue till April 2, 2026, Union Parliamentary Affairs Minister Kiren Rijiju said on Friday (January 9, 2026). The Union Budget will be presented by Finance Minister Nirmala Sitharaman on February 1, 2026 at 11 am, as confirmed by Lok Sabha Speaker Om Birla on a press conference.
The first phase of the Budget Session will conclude on February 13, after which Parliament will take a recess. The second phase will commence on March 9 and continue until April 2. During the period between the two sessions, the Parliamentary department-related standing committees will study the budgetary allocations. The session will kick off with President Droupadi Murmu’s address, and the Budget will be tabled accordingly. This is the first time in the history of India that the Union Budget is being presented on a Sunday.
The Parliament channel, Sansad TV, will telecast the Budget speech live. It is available on television and online platforms. The speech will also be streamed live on the official Union Budget website – indiabudget.gov.in.
For live updates and in-depth analysis of Budget 2026-27, readers can also follow our page.
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