Finance Minister Nirmala Sitharaman on Monday initiated pre-Budget consultation with two sets of stakeholders – economists and farm experts from industry and research organisations.
The Budget for FY 2026-27 is expected to be presented on February 1, 2026.
“Union Minister for Finance and Corporate Affairs @nsitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi, today,” read a Finance Ministry post on microblogging site X (formerly Twitter). The meeting was also attended by Economic Affairs Secretary and Chief Economic Adviser besides senior officials.
Government engages with industry representatives for Budget inputs. As part of the ongoing pre-Budget consultations, the government is holding a series of meetings with industry representatives to gather inputs for the upcoming Union Budget. The discussions are focused on ease of doing business and extending tax benefits to the last person.
Farm experts
In a separate pre-Budget interaction, Sitharaman also held consultations with farmer unions and agriculture experts to discuss measures for strengthening India’s farm economy. During the meeting, representatives from Farmer Producer Organisations (FPOs) recommended that the government promote the establishment of more processing units across the country to boost agricultural value addition.
They also suggested the introduction of a scheme to provide low-interest loans for food processing units, which could help farmers to increase their income through better post-harvest infrastructure. Agriculture experts urged the government to create a dedicated fund to promote research and development in the farm sector and introduce innovations in crop productivity and sustainable practices.
“The meeting was positive”, with participants highlighting key challenges facing the farm and allied sector while demanding the government address them on a priority basis, according to sources.
Bharat Krishak Samaj Chairman said the fund allocation for research and development in agriculture has reduced in real terms over the last two decades and emphasised the need to double the funding.
He also called for reconceptualising crop insurance, as most farmers and States remain dissatisfied with outcomes. “Consider substituting it with a crop compensation scheme/fund,” he said. Jakhar also demanded a law mandating shopkeepers to report the sale of agri-inputs to state governments in real time, and imposition of import duties on MSP-declared crops to ensure landing costs do not fall below support prices.
