New Delhi is buzzing with anticipation as Finance Minister Nirmala Sitharaman prepares to unveil the Union Budget for 2026 on February 1, marking her unprecedented ninth consecutive presentation. Prime Minister Narendra Modi hailed this feat as a proud chapter in India’s parliamentary history, emphasizing Sitharaman’s trailblazing role as the first woman to achieve this distinction.
Speaking to the media ahead of the Economic Survey 2026 tabling in Parliament, PM Modi reflected on the passage of time. ‘A quarter of the 21st century has elapsed, and we’re now entering its second phase. The next 25 years are crucial for realizing Viksit Bharat by 2047,’ he stated. This budget, he added, kicks off that pivotal era.
Sitharaman’s journey began in 2019, and her consistent leadership through economic turbulence, global crises, and domestic reforms has solidified her legacy. This will be the second full budget following the NDA’s third consecutive term victory in 2024, signaling policy continuity amid ambitious growth targets.
Behind the scenes, a robust team of seasoned bureaucrats and economists is shaping the fiscal blueprint. Anuradha Thakur, Secretary of Economic Affairs, leads the Budget Division, meticulously crafting the core document. Her role involves resource allocation, expenditure caps, and balancing growth with stability for FY 2026-27.
Chief Economic Adviser V. Ananth Nageswaran provides critical macroeconomic insights, assessing global risks, forecasting growth, and analyzing sectoral trends in agriculture, industry, and services. His advice spans major reforms and long-term strategies.
Revenue Secretary Arvind Srivastava oversees direct taxes like income and corporate tax, alongside GST and customs duties. This marks his debut budget in the role. Expenditure Secretary Vumlunmung Vualnam manages government spending, subsidy reforms, and flagship schemes, prioritizing fiscal discipline and deficit control.
Financial Services Secretary M. Nagaraju focuses on public sector banks, insurance, and pensions, driving financial inclusion and credit access. Investment and Public Asset Management Secretary Arunish Chawla handles disinvestment targets and asset optimization.
As India eyes sustainable development, this budget is poised to address infrastructure gaps, boost manufacturing, and enhance social welfare. Stakeholders await measures that could propel the economy towards a $5 trillion milestone and beyond, underscoring Sitharaman’s steady hand at the helm.