Union Budget

Centre's fiscal deficit touches 41.9% of full-year target at Aug-end: CGA

Centre's fiscal deficit stood at ₹7.1 trillion during April-August, at 41.9% of the full-year target, according to CGA data

Shaping the infra risk guarantee fund

Announced in this year's Budget, the initiative requires intervention on six fronts to become even more impactful

Best of BS Opinion: Government must get real on spending

Today's opinions examine India's critical-minerals strategy, FSSAI's food-warning labels, Budget discipline, the RBI's dollar-rupee swaps and lessons from industrial policy

Finance Ministry to commence exercise for Budget 2027-28 from Oct 12

The Finance Ministry will begin the exercise to prepare the Union Budget for 2027-28 from October 12 amid heightened global uncertainties and rising food and fuel prices. The Budget for the next financial year is expected to focus on the reform continuation exercise to further accelerate economic growth, along with measures to create jobs and boost domestic demand. "Pre-budget meetings chaired by Secretary (Expenditure) shall commence from October 12, 2026. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 6, 2026," Budget circular 2027-28 issued by the Department of Economic Affairs said. Hard copies of the data in the specified formats should be submitted for cross-verification, it said. It will be the fourth budget of the Modi 3.0 government and the 10th straight Budget for Finance Minister Nirmala Sitharaman, a rare distinction in Indian polity. The circular further said that pre-bud

FinMin urges ministries to give realistic projections for FY28 Budget

Finance Ministry kicks off the FY28 Budget exercise, seeking realistic projections as rising subsidy costs and the West Asia crisis put pressure on government finances

A fragile climb: India's trekking push faces test of safety, sustainability

Nirmal Purja's icy death has rekindled questions about safety, overcrowding and tourism in the mountains

NITI Aayog proposes rethinking the school-degree-job pipeline: Here's how

India needs to move beyond simply expanding higher education and training more people and instead build a system that better connects education, skills and employment, NITI Aayog said in a report

Great anxiety to Viksit Bharat: Tracing India's changing economic narrative

An analysis of India's Budget speeches since Independence reveals a growing confidence in tone

No plan to adjust Budget numbers yet, says FM Nirmala Sitharaman

FM Nirmala Sitharaman says the government has adequate fiscal buffers to tackle risks from the West Asia conflict and sees no need to revise Budget estimates

Reviving the 1991 spirit: Reform lessons from then should not be ignored

Thirty-five years after the landmark 1991 Budget, India must revive the reform spirit with fresh policy changes, stronger institutions and wider reforms beyond the economy

Managing fiscal fallout: Govt must make the necessary adjustments

Higher fuel prices and limited gas availability are affecting economic activities, which could result in lower overall tax collection and add further pressure on the Budget

South Coast Railway finally notified after years of Odisha-AP tug of war

Centre notifies South Coast Railway as the 18th zone after years of Odisha-Andhra Pradesh dispute, balancing freight interests and operational restructuring

High-powered panel formed to fix gaps between education, employment

From the education sector, faculty from the Indian School of Business and Shiv Nadar University are included in the committee

Centre's fiscal deficit touches 80.4% of full-year target at Feb-end: CGA

The Centre's fiscal deficit stood at Rs 12.52 lakh crore at the end of February, or 80.4 per cent of the annual budget target for 2025-26 compared to 85.8 per cent in the year-ago period, according to government data released on Monday. The central government estimates the fiscal deficit (the gap between expenditure and revenue) during 2025-26 at 4.4 per cent of GDP, or Rs 15.58 lakh crore. According to monthly accounts released by the Controller General of Accounts (CGA), the Centre's total receipts stood at Rs 27.91 lakh crore, or 82 per cent of the budget target by February-end 2026. The receipts included Rs 21.45 lakh crore tax revenue (net) and Rs 5.8 lakh crore non-tax revenue. The CGA data showed that the central government's total expenditure during April-February 2025-26 stood at Rs 40.44 lakh crore, or 81.5 per cent of the full financial year budget target.

The missing piece: A cohesive national framework on India's urbanisation

India's 2026 policy framework recognises the importance of urban growth, but falls short of offering a cohesive, data-driven national urbanisation strategy to guide planning and investment

Govt must improve its ability to plan and execute hiring programmes

Despite a push to fill vacancies through Rozgar Melas and recruitment drives, India's Union government workforce has barely grown in a decade, highlighting limits in hiring capacity

India's FY26 growth outlook raised to 7.6% after GDP series reset

Economy expands 7.8% in Q3; manufacturing shines bright

NBFCs' bank licence set to figure at DFS meet on Thursday as reforms loom

The meeting will be attended by senior officials from the Finance Industry Development Council, Sa-Dhan and Microfinance Industry Network