New Delhi, Aug. 29 -- The Union Finance Ministry has formally begun the budget-making process for 2027-28, with the Department of Economic Affairs (DEA) issuing the Budget Circular 2027-28 on August 27, directing all ministries and departments to start preparing their Revised Estimates (RE) for 2026-27 and Budget Estimates (BE) for 2027-28.

According to the circular, issued by the Joint Secretary (Budget), ministries have been asked to submit detailed budgetary data through the Union Budget Information System (UBIS) in a time-bound manner, marking the first formal step in the Union Budget exercise for the coming fiscal year.

Pre-budget meetings, chaired by the Secretary (Expenditure), will commence on October 12, 2026 (Monday) and conti...