New Delhi [India], November 10 (ANI): Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday chaired the first pre-Budget consultation meeting with country's leading economists in New Delhi in connection with the upcoming Union Budget 2026-27.

The meeting was attended by the Secretary, Department of Economic Affairs (DEA), Ministry of Finance, along with the Chief Economic Adviser to the Government of India and senior officers from the Department of Economic Affairs.

In a social media post the Ministry of Finance stated 'Union Minister for Finance & Corporate Affairs Smt.@nsitharamanchairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi'.

The pre-Budget consultation with economists started at 10 am and will continue till 12 noon. This will be followed by another round of consultations with eminent agriculturists and farmer organisations scheduled from 1 PM to 3 PM.

These meetings mark the beginning of the series of pre-Budget discussions that the Finance Ministry conducts every year as part of the budget preparation process.

A pre-Budget meeting is a consultation and discussion process held by government finance officials and the Finance Minister with various stakeholders before the final annual budget is formulated and presented to the legislature.

These meetings serve as an important platform for the Finance Minister to gather suggestions, demands, and inputs from a wide range of participants including industry associations, trade unions, economists, state government officials, and representatives from the social sector.

Through these discussions, the Finance Ministry aims to ensure that the Union Budget reflects diverse perspectives and addresses the needs of different sectors of the economy.

The consultations with economists and agriculturists today mark the first phase of the government's broader engagement process leading up to the presentation of the Union Budget 2026-27.

Union Budget is typically presented on February 1 of each year. This year also Finance minister Nirmala Sitharaman will table the Union Budget for 2026-27 on 1st February in parliament.

Various chamber of commerce including Confederation of Indian Industries (CII), Federation of Indian Chamber of Commerce and Industry (FICCI) and PHD Chamber of Commerce and Industry (PHDCCI) have submitted their pre-Budget memorandum for the Union Budget 2026-27 to the ministry.

They have urged the government to adopt a series of direct tax reforms, increase tax base, take measures to bolster manufacturing, innovation, and tax compliances. (ANI)