September 3, 2025

Get ready, India! The Finance Ministry is set to kick off the preparation of the Union Budget for 2026-27 from October 9, according to a fresh circular by the Department of Economic Affairs. This budget season isn't just another routine task; it’s happening against a stormy backdrop. The US has slapped a shocking 50% extra tariff on most Indian products, throwing a huge challenge at Indian exporters and rattling the country’s growth and job prospects. These external hurdles are shaking up the economic boat, and the government knows it. That’s why this year’s budget needs some serious masala! The Finance Ministry aims to not only navigate through these tough times but also to fulfill its promise of next-generation reforms that keep the growth engine roaring and fresh jobs coming. The circular gave some spicy advice too: “Realistic projection for Revised Estimates (for) 2025-26 and Budget Estimates (for) 2026-27 is a pre-requisite.” It stressed that ministries must carefully estimate their spending to avoid annoying mid-year changes. “Minimal mid-year additional resource requirements/mid-year re-appropriations reflect good budgeting,” it added, showing that smart planning is the key. Adding more punch, 2026-27 is a special year — it’s the start of the 16th Finance Commission cycle. Ministries must align their budget requests with approvals and cannot push liabilities from the current cycle into the next without express permission. This rule is like a strict referee ensuring fair play. So, what’s cooking? The government’s budget chefs are busy mixing caution with ambition to serve India a feast of strong growth, export support, and job creation, despite the spicy challenges from abroad. Buckle up for a budget ride packed with action and hopes!

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Tags: Union budget 2026-27, Finance ministry, Us tariff, Indian exports, Economic growth, Budget preparation,