New Delhi, 30 August (H.S.): The Finance Ministry will begin preparations for the Union Budget for financial year 2027-28 from October 12, amid the West Asia crisis, growing global uncertainties and elevated food and fuel prices.

According to the Budget Circular issued by the Department of Economic Affairs under the Finance Ministry, the pre-Budget meetings, chaired by the Expenditure Secretary, will commence on October 12. Financial advisers have been directed to ensure that the required information is accurately entered into the Union Budget Information System (UBIS) by October 6 or earlier.

The Budget Circular indicates that the Union Budget for 2027-28 is expected to focus on advancing reforms aimed at accelerating economic growth, along with measures to generate employment and strengthen domestic demand. The pre-Budget consultations are scheduled to continue until the middle of November.

The circular states that copies of data in the prescribed formats will also have to be submitted for verification. Following the completion of the pre-Budget meetings, the Budget Estimates for 2027-28 and the Revised Estimates for 2026-27 will be provisionally finalised.

It further states that after detailed discussions during the pre-Budget meetings, ministries and departments will be informed of their preliminary expenditure ceilings. The final expenditure ceilings will subsequently be determined by the ministry, taking into account the government’s expenditure priorities and revenue projections.

The upcoming Budget will be the fourth Union Budget of the Narendra Modi-led government in its third term. It will also be Finance Minister Nirmala Sitharaman’s 10th consecutive Union Budget, which she is scheduled to present in the Lok Sabha on February 1.

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Hindusthan Samachar / Jun Sarkar