Union Budget 2025: The Finance Ministry will start an exercise to prepare the general budget for FY 2025-26 from the second week of October. The Indian economy has registered a growth of 7 percent or more in 4 consecutive years. The budget of the next financial year will be focused on measures to further enhance the improvement of growth, enhancement generation and demand in the economy.
In the budget circular 2025-26 issued by the Department of Economic Affairs, the pre-budget meetings chaired by the Secretary (Expenditure) will start in the second week of October 2024. Financial Adhires will ensure that the required details … before 7, October 7, before or by that time, UBIS (Union budget To be properly recorded in the information system). ” The circular states that the hard copy of data in specified formats should be given for cross verification.
8th budget of Nirmala Sitharaman
This will be the second budget of the third term of the Narendra Modi government. At the same time, this will be the eighth consecutive budget of Finance Minister Nirmala Sitharaman. According to the statement, the budget estimates of FY 2025-26 will be temporarily finalized after the completion of pre-budget meetings. Pre-budget meetings will start from the second week of October 2024 and will continue until mid-November, 2024.
What happens in pre-budget meetings
During these meetings, the need of funds for all categories expenses, as well as the expenses of the Ministries/Departments are discussed on the receipts and projections on pure basis. Apart from this, receipts of departmentally operated commercial undertakings are also assessed during pre-budget meetings. Budget 2025-26 can be presented on 1 February during the first part of the budget session of Parliament. The budget session of Parliament usually begins in the last week of January every year.