The countdown for the Budget 2026 has begun. It is traditionally presented on February 1. However, this year February 1 falls on a Sunday. This has led to some apprehension. However, there is no official declaration on this and as of now the expectation is that the Budget will follow tradition and the machinery is gearing up for a February 1 presentation.
Since 2017, the Union Budget has been presented by the BJP-led NDA government on February 1. Parliamentary sessions are typically not conducted over the weekend unless some extraordinary circumstances arise. However, over the past decades, sessions have taken place on Saturdays and Sundays, with the country’s Finance Minister Nirmala Sitharaman herself presenting the budget twice on Saturdays , first on February 1, 2020, ahead of the Covid-19 lockdown, and the second just last year on February 1, 2025.
Even if the Parliament decides to hold a session on Sunday this year, it would not be without precedent. Former finance minister Yashwant Sinha presented the Union Budget for 1999–2000 on February 27, 1999,. It was a Sunday.
Additionally, both Houses of Parliament, the Lok Sabha and the Rajya Sabha sat on Sunday, May 13, 2012, owing to the 60th anniversary of India’s first session of Parliament.
This year’s Budget would add another milestone to Sitharaman’s tenure, making her the country’s first finance minister to present nine Union Budgets consecutively. However, the overall record is still held by the late finance minister Morarji Desai, who delivered 10 budgets across two different tenures. The final decision on whether the Budget will be convened on a Sunday rests with the Cabinet Committee on Parliamentary Affairs (CCPA). Further, parliamentary affairs minister Kiren Rijiju has said that the CCPA will take the call at an appropriate time.
Budget 2026- Key expectations
Expectations are rife about the Budget continuing with measures aimed towards boosting consumption and demand. There are some expectations about income tax reforms and changes with respect to the old income tax regime. The direct taxes may also see some tweaks.
According to a report published by the Financial Express, the government will introduce the Seed Bill, 2025, in the forthcoming Budget session, which would mandate the registration of seed companies in the market.
Divestment of many public sector banks may also be part of the Budget announcement.
Where the focus lies?
Trump tariffs remain a key concern ahead of the Union Budget 2026, as the US President Donald Trump recently warned of fresh new tariffs on India. Currently, most Indian goods are subject to 50% tariffs. The Indian rupee also remains in focus, as the currency continues to trade near its record-low levels of 90 against the US dollar.
With strong GDP growth, benign inflation levels, and a sharp rise in industrial production, attention is now firmly on the government’s Budget announcements and how it plans to push growth forward without pushing up inflation.