Budget 2026 Expectations Live: Sunday Budget, no Finance Secretary - Why Budget 2026 is breaking convention

The Union Budget 2026-27 is expected to be presented on Sunday, February 1, marking a break from convention, Business Today reported. What makes this year's Budget exercise unusual is the absence of a Finance Secretary in the Finance Ministry during the preparation phase. The Finance Secretary, regarded as the senior-most secretary and the first among equals, typically plays a central role in coordinating Budget-related work and overseeing the ministry's day-to-day functioning. However, the position has remained vacant since former Economic Affairs Secretary Ajay Seth, who was also designated as Finance Secretary, retired on June 30, 2025, Business Today noted. Seth has since been appointed Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). Prior to Seth, Revenue Secretary Tuhin Kanta Pandey had served as the designated Finance Secretary, Business Today said. Despite the vacancy, finance ministry sources told Business Today that the Budget exercise is proceeding smoothly, with individual departments managing their respective responsibilities. Officials cited by Business Today added that the lack of a Finance Secretary has not created any operational hurdles so far, and preparations for the Union Budget remain on schedule.

The company's mining operations are spread across the Jharia coalfield in Jharkhand and the Raniganj coalfield in West Bengal, both of which benefit from established infrastructure, strong logistics connectivity and rich coal reserves. It operates five coking coal washeries and is the domestic leader in washery capacity, with an operational capacity of 13.65 million tonnes per annum. In addition, the company is in the process of developing and commissioning three new washeries with a combined capacity of 7.0 MTPA. It is also undertaking the renovation of the 1.6 MTPA Moonidih washery, a move aimed at further strengthening its overall coal washing capacity.

“That women’s work is necessary for economic growth is no longer a subject for debate, and while women are entering the workforce in growing numbers, their share in formal employment has remained stagnant at ~18% for 5 consecutive years, and retention through life transitions continues to be a major challenge.

Three shifts can help. First, the Budget can strengthen the foundations for women’s employment by investing in enabling infrastructure - safe and affordable mobility, women’s housing near job clusters, and care systems that reduce the drop-off after life and caregiving transitions. Second, it can accelerate job-linked ski ling by backing demand-aligned training with clear pathways to placement, especially in growth sectors, and by supporting employers to build retention-friendly workplaces.

Third, it can make gender-disaggregated data a core input into economic planning, because what we can measure wel, we can improve faster. Recent interventions by Udaiti - from district-level diagnostics in Uttar Pradesh to inclusive shop floor reforms in firms like Dr. Reddy’s and Mahindra Swaraj (13-fold increase in women’s participation over 10 years) - have shown what is possible and scalable. Budget 2026 can set the tone by investing in the systems that sustain women at work—not just skilling them for entry, but supporting them to stay, grow, and lead. Women’s participation is not peripheral to Viksit Bharat—it is fundamental to it.” -- Pooja Sharma Goyal, Founding CEO, Udaiti

The existing Production-Linked Incentive (PLI) scheme should be extended to cover new technology sectors such as AI, space, and robotics, and the FY27 Budget should prioritise growth continuity and tax certainty by bringing a scheme for Customs dispute resolution, EY India said on Thursday.

EY India suggested adopting a forward-thinking approach that reinforces investor confidence and catalyses private sector participation.

EY India, National Tax Leader, Sameer Gupta, said, to stimulate private investments, the existing PLI scheme may be extended to cover new technology sectors such as AI, space, and robotics.

"Additionally, public infrastructure investments in futuristic areas, including AI, GenAI, robotics, and space technology, may induce growth of private investment in these sectors. Targeted incentives for the emerging industries will be crucial in driving innovation and attracting both domestic and foreign investors," Gupta said.

On the tax front, businesses look for a strong commitment to tax certainty and streamlined compliance processes, he said. - PTI

"India faced a major environmental challenge in 2025, becoming the world's most polluted nation, with 99 of the 100 most polluted cities located in India. While budgets typically promote a greener economy, urgent attention to existing environmental concerns is necessary," Gulati added.

"Export-oriented businesses faced turbulence in 2025 due to multiple tariff setbacks. Measures such as temporary duty drawbacks, extensions of CGTMSE for exporters, forex risk support, or targeted interest subvention schemes for specific export-oriented industries are recommended to provide relief," he said.

"MSMEs are rapidly embracing digitisation. Technologies such as AI, robotics, and data analytics are increasingly critical globally, and India cannot lag behind. While 2025 marked the early stages of AI adoption, 2026 is expected to be far bigger. Strong policy support to help MSMEs adapt to technological advancements and accelerate digitisation is recommended," Gulati noted.

"Last year's budget expanded the credit guarantee scheme, raising CGTMSE limits for MSMEs and unlocking nearly Rs 1.5 lakh crore in collateral-free loans. We expect Budget 2026 to deepen these structural shifts rather than introduce isolated schemes. Targeted loan programs for first-time entrepreneurs, especially women and other underserved groups, could provide additional relief on the credit front," he added.

"The GST 2.0 regime has played a key role in making India's indirect tax system more robust. Budget 2026 presents an opportunity to move from stabilisation to simplification. A simplified GST structure, with eased input tax credit (ITC) processes and shorter refund timelines, can significantly boost the growth of the MSME sector and the overall economy," Gulati said.

"The year gone by brought in important reforms for the MSME sector, and the upcoming budget is expected to further complement these initiatives," said Dinesh Gulati, COO of Dinesh Gulati, COO of IndiaMART InterMESH Limited.

The budget for the financial year 2026-27 is likely to prioritise artificial intelligence and data centres, as the government is keen to attract "far more" global investment in the AI-ecosystem, sources have told Moneycontrol.

"There is an immense opportunity in India for investors. We saw that in 2025, with the announcement of $15 billion investment by Google for its AI hub (data centre and fibre-optic network) in Andhra Pradesh," a senior government official told Moneycontrol.

The industry has sought a conditional tax holidays for some data-centre developers, with eligibility tied to capacity thresholds, employment and green energy targets, according to sources.

With the upcoming presentation, Sitharaman is set to become the first finance minister to deliver nine consecutive Union Budgets. This would bring her closer to the record held by former Prime Minister Morarji Desai, who presented 10 Budgets across two tenures - six between 1959 and 1964 and four between 1967 and 1969.

Presenting the Budget on a weekend is not entirely unprecedented. Sitharaman presented the Union Budget 2025 on a Saturday, while Arun Jaitley delivered the Budgets for 2015 and 2016 on February 28, both of which also fell on Saturdays.

Since 2017, the Union Budget has been presented at 11 am on February 1, after the government advanced it from the earlier practice of February 28. The change was introduced during the tenure of former finance minister Arun Jaitley to enable faster implementation of budget proposals from the start of the financial year.

Finance Minister Nirmala Sitharaman will be presenting her ninth consecutive Union Budget, which will also be the 88th Budget since Independence.

An earlier report by CNBC-TV18 had indicated that preparations for the Union Budget are already in progress.

The first phase of the Budget Session is likely to be held from January 28 to February 13. The second phase is expected to resume from March 9 and continue until April 2, according to the report.

Sources cited by CNBC-TV18 said the Budget Session will commence with the President's address to a joint sitting of both Houses of Parliament on January 28. The Economic Survey is expected to be tabled in Parliament on January 29.

According to the parliamentary calendar, Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for 2026-27 on February 1, which falls on a Sunday. This would be an unusual occurrence in recent years, as the Budget is rarely presented on a weekend.

The Cabinet Committee on Parliamentary Affairs (CCPA), chaired by Defence Minister Rajnath Singh, has approved the timetable for the upcoming Budget Session of Parliament, sources told CNBC-TV18.