The process of preparing India's Union Budget 2027-28 is set to begin in October, with the Finance Ministry scheduling the first round of pre-Budget consultations from October 12, 2026.

According to the Budget Circular issued by the Department of Economic Affairs, the pre-Budget meetings will be chaired by the Secretary (Expenditure) and are expected to continue until mid-November.

The exercise will cover the Revised Estimates for 2026-27 and the Budget Estimates for 2027-28, giving the government a framework to assess expenditure requirements and available resources for the next financial year.

Ministries given October 6 deadline

Central ministries and departments have been asked to enter the required Budget information into the Union Budget Information System (UBIS) by October 6.

The Finance Ministry has stressed the need for realistic expenditure projections so that ministries can minimise the need for frequent mid-year reallocations or additional funding requests.

After the pre-Budget consultations, provisional expenditure ceilings will be communicated to ministries. Final allocations will subsequently be decided after considering government priorities and revenue projections.

Growth and jobs likely to remain key priorities

The upcoming Budget is being prepared against a backdrop of continued global economic uncertainty and higher food and fuel prices.

The government is expected to use the Budget exercise to advance economic reforms, support growth, create employment opportunities and strengthen domestic demand.

The Finance Ministry has also asked departments to carefully assess existing schemes and prioritise committed and ongoing expenditure before seeking funds for new initiatives.

When will the final numbers be ready?

Following the pre-Budget discussions, provisional expenditure estimates will be refined before final ceilings are established.

According to the Budget process outlined by the Finance Ministry, final expenditure figures are expected to be reflected in UBIS by the end of December 2026 or early January 2027.

The Union Budget 2027-28 will be the fourth Budget of the Modi 3.0 government and the 10th consecutive Budget presented by Finance Minister Nirmala Sitharaman.

With the Budget-making process now officially underway, the coming months will determine the government's spending priorities and fiscal roadmap for 2027-28.