Finance Minister Nirmala Sitharaman on Saturday led a significant pre-Budget consultation meeting with states and union territories, setting the stage for the upcoming Union Budget for the fiscal year 2026-27. The high-level gathering in New Delhi aimed to incorporate regional priorities into the national financial blueprint.
Key Attendees and State Representations
The meeting saw participation from a wide array of leaders from across India. Union Minister of State for Finance Pankaj Chaudhary was present alongside the Governor of Manipur. Chief Ministers from Delhi, Goa, Haryana, Jammu and Kashmir, Meghalaya, and Sikkim attended in person. Furthermore, Deputy Chief Ministers from Arunachal Pradesh, Madhya Pradesh, Odisha, Rajasthan, and Telangana joined the discussions. The forum also included Finance Ministers from various states and union territories, as well as senior officials from the Departments of Economic Affairs, Expenditure, and Revenue.
Goa's Specific Demands for Tourism and Infrastructure
Speaking to the press after the conclave, Goa Chief Minister Pramod Sawant outlined a detailed list of requests for the central government. He emphasized the continuation of existing central schemes for Goa and pushed for enhanced assistance specifically for the tourism sector, a vital pillar of the state's economy. Sawant also demanded dedicated funds for healthcare and for the infrastructure development of the newly created Kushavati district.
The Chief Minister revealed that special demands were also placed for boosting the Renewable Energy sector and for the redevelopment of the Konkan Railways network. He provided crucial context by referencing the 15th Finance Commission's recommendation of Rs 700 crore in state-specific grants for Goa. This sum included Rs 500 crore for climate change initiatives and Rs 200 crore dedicated to tourism promotion.
"We seek more funds in the 16th Finance Commission," Sawant stated, indicating the state's aspirations for increased financial support in the next award cycle.
Wide-Ranging Consultations Shape Budget Priorities
This meeting with states is part of an extensive consultation process undertaken by the Finance Ministry. Recently, Prime Minister Narendra Modi chaired a separate pre-Budget meeting with leading economists, which was attended by FM Sitharaman, NITI Aayog Vice Chairman Suman Bery, and other experts.
Prior to this, Sitharaman had already conducted ten rounds of sector-specific pre-Budget consultations. These sessions brought together stakeholders from critical areas of the economy to present their recommendations and challenges.
The consultation series unfolded in the following order:
- Leading economists
- Farmer associations and agricultural economists
- MSME representatives
- Capital markets and startup stakeholders
- Manufacturing, BFSI, and IT sectors
- Tourism and hospitality industry
- Trade unions and labour organisations
The discussions across these meetings focused on core themes like economic growth, job creation, improving the investment climate, fostering technological advancement, ensuring industrial competitiveness, maintaining financial sector stability, promoting labour welfare, and achieving sustainable development goals.
The Union Budget for 2026-27 is expected to be presented by Finance Minister Nirmala Sitharaman in Parliament on February 1, 2026, adhering to the established convention.
