New Delhi: The Cabinet Committee on Parliamentary Affairs (CCPA) on Wednesday proposed presenting the Union Budget for 2026–27 on February 1, even though the date falls on a Sunday. 

If approved, this would mark a rare instance in recent years of the Budget being tabled on a weekend, as the government sticks to its February 1 timeline to ensure timely implementation of budget proposals from the start of the financial year, as per media reports.

The Budget Session will begin on January 28 with the President’s address to a joint sitting of both Houses of Parliament. The Economic Survey, which reviews the state of the economy, will be tabled in Parliament on January 29, according to reports.

Finance Minister Nirmala Sitharaman will be presenting her ninth consecutive Union Budget, making it the 88th Budget since India’s Independence. Since 2017, the Union Budget has been presented at 11 am on February 1, after the government advanced the date from the earlier tradition of February 28.

This change was introduced during the tenure of former finance minister late Arun Jaitley to allow faster implementation of budget proposals from the start of the financial year.

Presenting the Budget on a weekend is not entirely new. Sitharaman had presented the Union Budget 2025 on a Saturday.

Before that, late Arun Jaitley presented the Union Budgets of 2015 and 2016 on February 28, which also fell on Saturdays.

With this Budget, Sitharaman will also make history by becoming the first finance minister to present nine consecutive Union Budgets. This achievement places her close to the record held by former Prime Minister Morarji Desai, who presented a total of 10 Budgets across two separate tenures.

Among other recent finance ministers, P Chidambaram presented nine Budgets, while Pranab Mukherjee presented eight during their time in office.

FM Sitharaman was appointed India’s first full-time woman finance minister in 2019 after Prime Minister Narendra Modi returned to power for a second term.

Finance Minister Sitharaman continued to hold the finance portfolio after the Modi-led government secured a third consecutive term in 2024.

New Delhi: India’s economy is continuing its rapid ascent on the global stage. According to Goldman Sachs, the country’s economic expansion is expected to remain stable in the fiscal year 2027. The investment bank projects India’s real GDP growth at 6.8 percent in FY27, slightly down from 7.3 percent in FY26.

The global brokerage firm highlighted that policy measures supporting domestic demand have strengthened the economy. In 2025, India offered income tax relief, simplified the Goods and Services Tax (GST), focussed on increasing liquidity and the Reserve Bank of India cut the repo rate by a total of 125 basis points to encourage consumption.

India Surpasses The UK In 2021

In 2021, India surpassed the United Kingdom to become the world’s fifth-largest economy, a milestone that reflected decades of steady growth. In the last 25 years, the country grew on average 6.4 percent a year, a bit less than China’s 8 percent.

However, in recent years, India has been catching up fast. Last year, it moved past Japan to become the world’s fourth-largest economy.

Other Forecasts And Projections

In a report released last Friday, SBI Mutual Fund projected that India’s nominal GDP growth for FY26-27 could reach around 11 percent, while real GDP growth may rise to approximately 7.2 percent.

The report said continued policy reforms and the growing demand for higher-quality and premium products among Indian consumers are expected to support economic expansion.

Global economic slowdown and geopolitical tensions could pose challenges, the report added. Separately, Indian Ratings and Research (Ind-Ra) estimated on Tuesday that India’s economy may grow by 6.9 percent in FY27, slightly lower than the projected 7.4 percent growth for FY26.

American oil producer Chevron is in discussions with the US government to expand its operating licence in Venezuela as it aims to increase crude exports to its own refineries and potentially sell to other buyers.

These talks unfold as Washington and Caracas advance negotiations to supply up to 50 million barrels of Venezuelan oil to the United States.

The development also comes as President Donald Trump presses American oil companies to invest in the South American nation’s energy sector.

Chevron currently stands as the sole US oil major operating in Venezuela, doing so under a specific authorisation from the US government that exempts it from existing sanctions on the country.

Washington is also reportedly encouraging other US companies to become involved in Venezuelan oil exports. This includes refiner Valero Energy, a former customer of state-owned PDVSA before sanctions were imposed, alongside majors Exxon Mobil and ConocoPhillips, whose Venezuelan assets were expropriated two decades ago.

PDVSA confirmed on Wednesday that it is making progress in its negotiations with the US regarding oil exports, anticipating commercial terms similar to those established with its key joint venture partner, Chevron.

Requests for comment from Chevron, Valero, Exxon, Conoco, and the US Treasury Department were not immediately returned.