After changes in GST rates, the government has now started preparations for the country’s budget. The Finance Ministry has issued a circular regarding the preparations for the budget. It states that the ministry and its associated departments will start preparing for the budget of October 2026.
The special thing is that it is coming after a 50 percent tariff on the import of Indian goods by US President Donald Trump. Experts say that there is no possibility of any agreement between the two countries before the budget being presented in February next year, so the budget will pay special attention to areas that have suffered more damage due to Trump’s tariff. Let us give some more information about the preparations for the upcoming budget through this news.
When will the preparation of budget 2026 start?
The Finance Ministry will start preparing for the budget of 2026-27 from October 9. Budget preparations are going to begin amidst the US imposing 50 percent tariffs on India and the global uncertainties arising from it.
In the next year’s budget, along with increasing demand, emphasis will also be laid on creating more employment opportunities. In addition, the focus will also be on carrying the country’s economy to a continuous growth rate of more than eight percent. The government estimates that during the current financial year, the country’s economic growth rate will be between 6.3 and 6.8 percent.
Some of the main things of circular
According to the budget circular (2026-27) of the Department of Economic Affairs, the budget-pre-meeting chaired by the Secretary (Expenditure) will start from October 9, 2025. The circular states that the financial advisors ensure that the required details in VII from Annex I are properly recorded by or before October 3, 2025.
A hard copy of data in the specified format should be deposited for verification. The budget estimates for the financial year 2026-27 will be finalized on the provisional basis after the completion of the budget-pre-meetings and the revised estimate (RE) meetings will continue till mid-November 2025.