Budget 2026: Pre-budget talks begin, chaired by Nirmala Sitharaman; tax reforms and manufacturing push in focus

NEW DELHI: Finance Minister Nirmala Sitharaman on Monday chaired the first pre-Budget consultation meeting with leading economists in New Delhi, marking the start of preparations for the Union Budget 2026-27. Senior officials from the Department of Economic Affairs (DEA), including the Secretary, Chief Economic Adviser, and other key officers, attended the session.The finance ministry said on social media, “Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi.” Similarly, a meeting was also held with representatives from Farmer Associations and Agriculture Economists.The meeting with economists was held from 10 am to 12 noon, followed by consultations with prominent agriculturists and farmer organisations between 1 pm and 3 pm. These interactions mark the beginning of a series of stakeholder engagements the ministry conducts annually as part of the budget-making process.Pre-budget consultations serve as a platform for the finance minister to gather feedback, suggestions, and sectoral insights from a wide range of participants, including industry bodies, trade unions, economists, state representatives, and social sector groups. The deliberations aim to ensure the union budget reflects diverse perspectives and addresses key economic priorities.Industry associations such as CII, FICCI, and PHDCCI have already submitted their recommendations, urging the government to undertake direct tax reforms, widen the tax base, and introduce policies to boost manufacturing, innovation, and tax compliance.Sitharaman will present the Union Budget 2026-27 in Parliament on February 1.