Prime Minister Narendra Modi will hold a high-level meeting with prominent economists and experts from various sectors on Tuesday to finalize the framework and priorities of India's upcoming Union Budget for 2026-27. This meeting is considered crucial ahead of the Union Budget, which will be presented by Finance Minister Nirmala Sitharaman on February 1st, as the Indian economy is currently navigating complex global circumstances.
Key Policy Agenda and Strategic Discussions
According to official sources, the meeting will also be attended by NITI Aayog Vice Chairman Suman Bery, CEO B.V.R. Subrahmanyam, and other members of the commission. Through this dialogue, the Prime Minister will seek practical suggestions from experts on accelerating growth, fiscal consolidation, and job creation.
Experts believe that the main focus of the meeting will likely be on strengthening the MSME sector and enhancing its role in exports and manufacturing. Discussions may also include improving rural demand and modernizing the agricultural value chain. Laying the foundation for long-term growth through capital expenditure is also expected to be a key topic of discussion.
Global Uncertainty and the Shadow of US Tariffs
The 2026-27 budget comes at a time when global geopolitical equations are rapidly changing. The biggest challenge stems from the hefty 50 percent tariffs imposed by the US on Indian shipments. Economic experts argue that this unilateral move by the US could put pressure on Indian exporters, particularly in the textile, IT, and engineering sectors. The Prime Minister's meeting is expected to delve into how the upcoming budget can protect Indian domestic industries from these external shocks and give a new direction to the 'Atmanirbhar Bharat' (Self-Reliant India) campaign.
NITI Aayog's Role and Inclusive Growth
NITI Aayog may present its views on various development models at this meeting. The government's focus is not only on Gross Domestic Product (GDP) numbers but also on inclusive growth. The meeting will aim to understand from experts how India can best capitalize on the changes taking place in global supply chains.
Tuesday's meeting is not merely an exchange of suggestions, but will reflect the government's economic philosophy for the upcoming budget. Amidst geopolitical tensions and trade wars, the experts' opinions will help determine how India can strengthen its internal growth potential. The Finance Ministry will now begin the process of incorporating these suggestions into the final budget draft, which will clarify the direction and priorities of the budget to be presented on February 1st.
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