Budget Session 2026

Budget Session 2026 Begins: What to Expect from the Economic Survey & Union Budget?

By: News Editor & Content Specialist | Date: January 29, 2026

Reading Time: 5 Minutes | Category: Economy & Polity

Introduction

The corridors of Parliament are buzzing once again. The Budget Session 2026 officially kicked off yesterday (January 28) with President Droupadi Murmu’s address to the joint sitting of both Houses. For the common man, this session brings hope of tax relief and cheaper goods. But for a competitive exam aspirant, this is the most critical event of the year.

From the Economic Survey’s report card to the Union Budget’s roadmap for Viksit Bharat, the next few days will generate questions that will appear in exams for the next 12 months.

In this deep dive, we decode the schedule, the expectations, and the exam-relevant facts you need to know about India’s financial festival.

The Budget 2026 Schedule: Mark These Dates

Before we jump into the predictions, let’s get the timeline straight. Confusing these dates is a common error in exams.

Date	Event	Significance
Jan 28, 2026	President’s Address	Marks the beginning of the Budget Session.
Jan 29, 2026	Economic Survey Tabled	The “Report Card” of the economy for 2025-26.
Feb 01, 2026	Union Budget Presentation	The “Roadmap” for 2026-27, presented by FM Nirmala Sitharaman.

Note for Aspirants: This is a Full Budget, not an Interim one (unlike the pre-election budget of 2024). This means the government has the full liberty to announce major policy shifts and long-term reforms.

Section 1: The Economic Survey 2025-26 (The Report Card)

Status: Presented Today (Jan 29) by Finance Minister Nirmala Sitharaman.

Prepared by: The Department of Economic Affairs, under the guidance of the Chief Economic Advisor (CEA).

What is it?

Think of the Economic Survey as the government’s annual health check-up. It analyzes how the economy performed in the past financial year (2025-26) and projects the growth for the coming year.

What to Expect Today?

GDP Growth Projection: Analysts expect the survey to project a real GDP growth of 6.8% to 7.2% for FY27.
Inflation Analysis: A deep dive into food inflation, which has been a concern recently.
The “Thalinomics” Update: The survey often includes interesting chapters like “Thalinomics” (cost of a plate of food). Watch out for new unique indices this year.
Global Headwinds: How India is navigating the “Global Poly-crisis” (wars, supply chain disruptions).

Exam Takeaway:

Question: Who prepares the Economic Survey?
Answer: Chief Economic Advisor (CEA) (currently V. Anantha Nageswaran).

Section 2: Union Budget 2026-27 (The Roadmap)

Status: To be presented on February 1, 2026 (Sunday).

This will be FM Nirmala Sitharaman’s record-extending budget presentation. The focus is expected to be on sustaining India’s status as the fastest-growing major economy while managing the fiscal deficit.

Top 4 Expectations:

1. The “Middle Class” Tax Relief

Buzz: There is high speculation about changes in the New Tax Regime.
Expectation: Raising the standard deduction (currently ₹50,000) and possibly tweaking the tax slabs to leave more disposable income in the hands of the common man to boost consumption.

2. CaPex Push (Infrastructure)

Buzz: Infrastructure has been the Modi government’s hallmark.
Expectation: A continued increase in Capital Expenditure (CaPex), likely crossing ₹11.5 Lakh Crore. Focus areas: Railways (safety & modernization) and Defence (indigenization).

3. Agriculture & Rural Economy

Buzz: Rural demand has been soft.
Expectation: Higher allocation for PM-KISAN and MGNREGA.
Key Term to Watch: “Climate-Resilient Agriculture” – promoting crops like Millets (Shree Anna) that use less water.

4. Green Energy & Tech

Buzz: India’s net-zero goals.
Expectation: Subsidies for Green Hydrogen, EV infrastructure, and perhaps a new policy for AI & Semiconductor manufacturing to support the “Industrial Accelerator” vision.

Section 3: The Tone Setter – President’s Address Highlights

President Droupadi Murmu’s speech yesterday gave us a “trailer” of the movie we will see on Feb 1.

Viksit Bharat: The central theme remains making India a developed nation by 2047.
Nari Shakti: Emphasis on “Lakhpati Didis” and women-led development.
Youth Power: Focus on skilling and the new laws replacing the colonial-era criminal codes.
Exam Term: She mentioned the “Amrit Kaal” strategy—ensure you know what this term implies (the 25-year period leading to the centenary of independence).

Exam Corner: Static GK Cheatsheet

Don’t just read the news; remember the facts behind it.

Article 112: The Constitution does not use the word “Budget”. It uses “Annual Financial Statement” (Article 112).
First Budget of Independent India: Presented by R.K. Shanmukham Chetty (Nov 26, 1947).
Halwa Ceremony: The traditional event held before the “lock-in” of budget officials to ensure secrecy.
Railway Budget: Was merged with the General Budget in 2017.

Conclusion

The next 72 hours are crucial. The Economic Survey will give us the data, and the Budget will give us the direction. For students, this means a flood of new schemes, allocations, and GDP figures to memorize.

Stay Tuned: We will be releasing a simplified “Budget 2026 Summary for Students” on Feb 1st evening, breaking down the complex jargon into exam-ready bullet points.

Read More: Want to know the other big news from today? Check our Daily Current Affairs Analysis – 29 Jan 2026 for updates on the India-EU FTA and Australian Open.

❓ Question for You:

Which Article of the Indian Constitution deals with the ‘Annual Financial Statement’?

(A) Article 110

(B) Article 112

(C) Article 280

(D) Article 360

(Drop your answer in the comments!)