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Union Budget 2026: The Union Budget for the financial year 2026-27 will be tabled in the Parliament on February 1, 2026, after the Budget session commences on January 28 withthe Presidential address. Union Finance Minister Nirmala Sitharaman will present the economic survey for the outgoing financial year, a day before the budget--January 31.
For many years, the finance ministers have been presenting the Budget at 11 am. However, earlier the budget was presented in the evening.
Budgets were tabled in the evening for 53 years
For 53 years following India's independence, the Union Budget was consistently presented at 5 pm. This tradition, however, was a relic of the British colonial era. The 5 pm timing in India aligned with 11 am in London, a practice established to suit the working hours of British government officials.
This schedule continued for decades even after the end of British rule.
The Tradition Was Broken In 1999
The long-standing tradition was finally broken in 1999. Under the government led by Prime Minister Atal Bihari Vajpayee, the then-Union Finance Minister Yashwant Sinha took the decision to present the budget at 11 am, aligning the timing with a more conventional working day.
February 28 to February 1
Until 2017, the Union Budget was presented at the end of February, a practice also inherited from the British.
This tradition was discontinued to ensure the smoother implementation of budget proposals. Since many of the financial announcements and new provisions are intended to take effect at the start of the new financial year in April, presenting the budget late in February often caused delays in their official implementation.
Former Union Finance Minister Arun Jaitley introduced the change, moving the presentation date from the end of February to February 1st.
The new tradition provides government departments and Parliament with more time to deliberate and finalise the proposals, facilitating a timely rollout of key economic policies.