Prime Minister Narendra Modi has convened a critical pre-Budget consultation on Tuesday with a select group of prominent economists and sectoral experts to solicit comprehensive inputs shaping the Union Budget 2026-27. This strategic engagement reflects the government's determination to integrate multifaceted economic analyses amid pressing domestic priorities and volatile international dynamics, ensuring the fiscal blueprint addresses long-term sustainability and inclusive growth imperatives.

The discussions are meticulously designed to harness diverse viewpoints from leading economic thinkers, industry leaders, and domain specialists, as the Finance Ministry accelerates preparations for the FY27 fiscal roadmap. Such interactions have historically influenced pivotal policy formulations, including tax reforms, infrastructure allocations, and welfare schemes, underscoring the administration's reliance on expert counsel to navigate complex economic terrains effectively.

Finance Minister Nirmala Sitharaman is slated to table the Budget in Parliament on February 1, 2026, a timeline that demands swift incorporation of these deliberations. The presentation occurs against a backdrop of multifaceted global headwinds, encompassing persistent geopolitical frictions in key trade corridors, supply chain disruptions from ongoing conflicts, fluctuating commodity prices, and inflationary pressures that have strained emerging market economies worldwide.

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Compounding these challenges is the looming threat of a potential 50% tariff regime imposed by the United States on Indian exports, a development that could severely impact sectors like textiles, pharmaceuticals, and information technology services. This transatlantic policy shift necessitates robust countermeasures within the Budget, including enhanced export incentives, diversification strategies, and bolstering domestic manufacturing under the Atmanirbhar Bharat framework to mitigate revenue shortfalls and preserve employment gains.

This proactive consultation process exemplifies the government's structured approach to fiscal planning, prioritizing evidence-based policymaking to foster fiscal consolidation, elevate capital expenditure, and advance structural reforms. Outcomes from the meeting are anticipated to inform targeted interventions aimed at accelerating GDP trajectory, optimizing subsidy outlays, and fortifying resilience against external shocks, thereby laying a resilient foundation for India's economic aspirations through the FY27 horizon.

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