Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026 on February 1, marking her ninth consecutive budget under Prime Minister Narendra Modi. The Economic Survey 2026, tabled on Thursday, projects India’s economy to grow at 7.4% in FY26 and 6.8-7.2% in FY27, fueled by regulatory reforms, a strong macroeconomic foundation, and increased private sector investment.
Finance Minister Profile
Nirmala Sitharaman was born on August 18, 1959, in Madurai, Tamil Nadu, to parents K Sitharaman and K Savitri. She holds a bachelor’s degree in economics from Seethalakshmi Ramaswamy College, Tiruchirappalli, a Master’s in Economics from Jawaharlal Nehru University (JNU), New Delhi, and an MPhil in Economics from JNU’s School of International Studies.
Her career includes roles as an assistant economist at the Agricultural Engineers Association in London, work at Pricewaterhouse and BBC World Service, and founding the Centre for Public Policy Studies in Hyderabad in 1992, followed by Pranava school in 1997 for child-centric education.
Special Trading Sessions
Stock exchanges NSE and BSE have scheduled special sessions for the Sunday budget presentation. NSE’s pre-open market runs from 9:00 am to 9:08 am, with normal trading from 9:15 am to 3:30 pm; BSE mirrors this as a “special trading day” with regular hours.
Budget Impact on Rupee
The Union Budget influences the Indian rupee through fiscal deficit announcements and tax policies. A lower-than-expected deficit enhances investor confidence and strengthens the rupee, while higher deficits or adverse tax changes like increased capital gains taxes can trigger outflows and weaken it.
Why February 1 Presentation
Prior to 2017, budgets followed British tradition on February’s last working day, leaving scant time before the April 1 fiscal year start, delaying implementations. Finance Minister Arun Jaitley shifted it to February 1 in 2017 for better planning across ministries, businesses, and taxpayers.
Union Budget Overview
The Union Budget acts as the government’s annual financial statement, outlining revenue, expenditure, policies, and schemes for the fiscal year. Prepared by the Budget Division under the Ministry of Economic Affairs, it involves inputs from ministries, RBI, NITI Aayog, and the Finance Ministry to forecast economic conditions.
