News

Finance Minister Nirmala Sitharaman will hold pre-budget discussions with representatives of the BFSI sector on Wednesday, November 19, starting at 11 am. The discussion will include representatives from the banking, financial, and insurance sectors.

Later on Wednesday, the focus of the pre-Budget consultation will shift to the banking, financial services and insurance (BFSI) sector, along with key voices from the information technology (IT) industry. These interactions are expected to centre on enhancing financial stability, improving digital infrastructure and addressing emerging industry challenges.

The pre-budget talks will advance with meetings scheduled with stakeholders from the hospitality and tourism sector for November 20, followed by discussions with major labour unions, who are expected to highlight workforce issues and employment-related priorities.

On November 21, representatives from infrastructure, energy and urban development will engage with the ministry, bringing forward proposals aimed at boosting long-term growth and sustainability. The consultation process will conclude on November 26, with internal officers and social sector organisations providing their final round of inputs.

Last week, the Finance Minister began the outreach by meeting leading economists, setting the stage for broad-based discussions. This was followed by consultations with representatives from micro, small and medium enterprises (MSMEs), who shared their expectations and recommendations for the upcoming Budget.

The Union Budget 2026 is expected early next year, by February 2026, following the government’s usual annual schedule. This year’s Budget, presented at the start of the year, focused on easing the tax burden for middle-income groups, strengthening support for start-ups, and expanding major infrastructure projects. It also emphasised fiscal discipline, social welfare measures and investment-led growth to sustain economic momentum.