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Modi Cabinet Approves Union Budget 2026-27, Sitharaman Set for Historic Presentation

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Union Budget for 2026-27. Finance Minister Nirmala Sitharaman proceeded to Parliament to present the budget, following traditional rituals including meeting the President. This marks her ninth consecutive budget presentation, continuing her practice of using a digital tablet carried in a symbolic 'bahi-khata'. Economists expect the budget to balance growth momentum with fiscal consolidation while focusing on strategic capital expenditure.

Key Points: Cabinet Approves Union Budget 2026-27 Ahead of Parliament Presentation

  • Cabinet approves FY27 Budget
  • Sitharaman's 9th consecutive presentation
  • Focus on capex and fiscal consolidation
  • Digital 'bahi-khata' tradition continues
  • Geopolitical challenges addressed
2 min read

Cabinet approves Union Budget 2026-27

Finance Minister Nirmala Sitharaman to present her 9th consecutive Union Budget, focusing on growth, fiscal consolidation, and strategic capex.

"The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. - Economists"

New Delhi, Feb 1

The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi.

A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet's approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.

Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget.

The President also offered 'dahi-cheeni' (curd and sugar) to Sitharaman when she arrived at the Rashtrapati Bhavan. The Finance Minister was seen carrying her trademark 'bahi-khata', a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it.

Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V. Anantha Nageswaran, Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal and other officials were seen accompanying the Finance Minister.

Sitharaman was set to present her ninth consecutive Union Budget in the Lok Sabha. In 2021, she switched to using a digital tablet to carry the Budget papers, further promoting a modern and eco-friendly approach.

The 'bahi-khata' is a red pouch that holds the digital tablet containing the Budget documents.

This year, Sitharaman opted for a deep maroon Kanjeevaram saree from Tamil Nadu. The saree featured a deep maroon base with a contrasting border and subtle gold detailing, paired with a yellow blouse.

The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. It also needs to address near-term challenges emanating from unprecedented geopolitical flux, said economists.

According to economists, the budget is likely to focus more on capital expenditure, especially in sectors deemed to be strategically important owing to prevailing geopolitical compulsions.

While the FY26 Budget was more tilted towards stimulating middle-class consumption with tax reliefs, the FY27 Budget's approach to stimulating consumption will be selective, they added.

- IANS

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Reader Comments

P
Priya S
Love the traditional touch with the 'dahi-cheeni' and the Kanjeevaram saree! It's a beautiful blend of our culture with modern governance. The digital 'bahi-khata' is a great eco-friendly step forward. 🇮🇳
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Aman W
Ninth consecutive budget by FM Sitharaman! That's consistency. The focus on strategic capital expenditure makes sense given the global situation. Hope it translates to more jobs and better infrastructure on the ground.
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Sarah B
Watching from abroad. The digital transition is impressive. Hope the budget also has strong provisions for green energy and tech innovation to attract more international investment.
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Karthik V
While the symbolism is nice, I hope the substance addresses rural distress and farmer incomes. The article says consumption stimulus will be "selective". I worry this means overlooking the agricultural sector, which is facing real challenges.
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Nisha Z
Fiscal consolidation is crucial, but not at the cost of social sector spending. Hope there's good allocation for health and education, especially for women and children. That's the real foundation for long-term growth.

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