FM Sitharaman meets President for a customary pre-Budget presentation meeting
New Delhi (PTI): Finance Minister Nirmala Sitharaman on Sunday called on President Droupadi Murmu before presenting her record ninth Budget in the Lok Sabha.
As per established tradition, the finance minister met the President at the Rashtrapati Bhavan before heading to Parliament.
Before going to the Rashtrapati Bhavan, Sitharaman posed with her Budget team in front of her office at Kartavya Bhavan. Wearing a magenta silk saree, she was holding a tablet in a red pouch with the national emblem, along with the Minister of State and all six Secretaries in her ministry.
Union Minister for Finance and Corporate Affairs Sitharaman, along with Minister of State for Finance Pankaj Chaudhary and senior officials of the Ministry of Finance, called on the President at Rashtrapati Bhavan before presenting the Union Budget.
Following the meeting, she headed for a Cabinet meeting that will formally approve the Budget for 2026-27.
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
The Finance Minister will present her ninth straight Budget, which is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and announce reforms that could buffer the economy from global trade frictions, including US tariffs.
The FY27 Budget comes against a complex backdrop. While domestic demand has held up and inflation has moderated from recent highs, global uncertainties – including geopolitical tensions, volatile commodity prices and uneven monetary easing by major central banks – continue to cloud the outlook. At home, the government faces pressure to boost consumption, accelerate job creation and step up capital spending, while keeping the fiscal deficit on a downward path.
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All you need to know about India’s first Sunday Budget
New Delhi: This year’s Budget is drawing special attention because it is being presented on a Sunday. While Sunday is normally a holiday, Parliament will function as usual for the Budget presentation.
India's Union Budget is presented on February 1 each year, a practice that began in 2017. The idea behind this change was to give Parliament enough time to discuss, approve and put Budget proposals into action before the new financial year begins on April 1. Earlier, Budgets were usually presented at the end of February.
A similar situation arose in 1999, when February 28 fell on a Sunday. To avoid presenting the Budget on a holiday, then Finance Minister Yashwant Sinha, under the Atal Bihari Vajpayee-led NDA government, presented it a day earlier on February 27, a Saturday.
Until 1999, Union Budgets were presented in the evening, around 5 pm. This practice came from British colonial times, when announcements were timed to suit working hours in London.
Yashwant Sinha changed this tradition by presenting the Budget at 11 am. Since then, 11 am has remained the standard time for Budget presentations in India.
