Parliament Budget Session 2026 Scheduled from January 28 to April 2 in Two Phases

President Droupadi Murmu has approved the summoning of both houses of Parliament for Budget Session 2026, following recommendations from the Government of India. Parliamentary Affairs Minister Kiran Rijiju announced the decision through a social media post, confirming that the session will provide an extended period for legislative business and budget-related discussions.

Session Timeline and Structure

The Budget Session 2026 will span over two months, structured in two distinct phases to accommodate comprehensive legislative proceedings.

Rijiju described the schedule as a step towards meaningful debate and people-centric governance, emphasizing the government's commitment to thorough policy discussions.

Customs Disputes and Potential Relief Measures

As of January 8, 2026, significant financial challenges persist in the customs sector, with substantial amounts locked in ongoing disputes.

Experts anticipate that the government may consider implementing an amnesty scheme in Budget 2026 to address these litigations and unlock capital. PriceWaterhouse and Gautam Khattar have recommended combining an amnesty scheme with customs duty rationalization to resolve the large volume of disputes and correct duty inversion issues arising from free trade agreements. These measures are viewed as essential for reducing compliance burdens and enhancing trade efficiency.

Economic Growth and Policy Expectations

EY India has emphasized that Budget 2026 must focus on anchoring growth continuity through tax certainty and sector-led investments. The consulting firm has outlined key priorities for the upcoming budget:

• Enhanced dispute resolution mechanisms
• Extension of Production-Linked Incentive schemes
• Targeted reforms to boost private capital formation
• Innovation and global competitiveness initiatives

Pre-Budget Consultations

Finance Minister Nirmala Sitharaman chaired the 13th pre-Budget consultation ahead of the parliamentary session. The meeting included Minister of State for Finance Pankaj Chaudhary, senior officials from relevant ministries, and Chief Economic Adviser Dr V Anantha Nageswaran.

The discussions concentrated on strengthening policies, improving sectoral outcomes, and promoting inclusive growth. Particular emphasis was placed on women's empowerment and human development initiatives, reflecting the government's broader social and economic objectives.

Legislative Priorities and Expectations

With Parliament scheduled to convene over an extended period, stakeholders anticipate comprehensive discussions addressing key economic priorities. The session structure allows for detailed examination of budget proposals while maintaining focus on balancing fiscal discipline with growth-oriented reforms. The two-phase approach provides adequate time for thorough deliberation on policy measures that could significantly impact India's economic trajectory.