Prebudget meetings for FY27 to start on October 9, Finance Ministry says

The Finance Ministry issued the Budget circular for FY27 announcing prebudget meetings from October 9 to mid-November to review expenditure needs and receipts of ministries

The Finance Ministry on Friday released the Budget circular for FY27 to announce that the pre-Budget meetings would commence from October 9 and continue till mid-November. 

 

The meetings would discuss the requirement of funds for all categories of expenditures along with receipts of ministries and departments, non‐tax revenues, including user charges, and receipts of departmentally‐run commercial undertakings, which are netted against the gross expenditure. 

 

Laying out the guidelines for the ministries to share their Budget projections for the next financial year, the circular by the Department of Economic Affairs has sought details of autonomous bodies, implementing agencies for which a dedicated corpus fund has been created and reasons for continuing them. 

 

“Final expenditure ceilings will be decided by the Ministry of Finance, taking into account the expenditure priorities and receipt projections of the Government,” the circular said.

 

These figures, the finance ministry said, would be reflected in the Union Budget Information System (UBIS) by December-end or early January 2026.

 

The finance ministry has asked ministries to furnish brief notes explaining major variations between the Budget Estimates (BE) of FY26 and the Revised Estimates (RE) of FY26, and also between RE FY27 and BE FY27 in all cases wherever the variations under the items listed in the SBE exceed 10 per cent of the BE or RE. 

 

“The explanation should be meaningful and specific. Vague statements such as due to less requirement of the project or more requirement of the project may be avoided,” the circular said.