Finance minister Nirmala Sitharaman

Finance minister Nirmala Sitharaman is set to present her ninth consecutive Union Budget on February 1, marking a rare Sunday sitting and a first in independent India’s history. The Union Budget for FY27 (April 2026–March 2027) is expected to outline measures to sustain growth momentum, maintain fiscal discipline and push reforms to shield the economy from global trade frictions, including potential US tariffs.With the Economic Survey tabled in Parliament on January 29, industry and businesses laid out clear expectations from Budget 2026, particularly around artificial intelligence, infrastructure spending, telecom reforms and manufacturing support. The upcoming Budget will also continue the paperless format that has been followed for the past four years.As Sitharaman prepares to present her ninth Budget, her journey since 2019 reflects several milestones that mirror India’s evolving economic priorities and political landscape.

2019: History in red ‘Bahi-Khata’

In 2019, Nirmala Sitharaman became only the second woman in independent India’s history to present the Union Budget and the country’s first full-time woman finance minister to do so. Presenting the Modi 2.0 government’s maiden Budget in the Lok Sabha, she delivered a speech lasting two hours and 17 minutes, then the longest on record. Her address featured Urdu, Hindi and Tamil couplets and marked a symbolic shift as she replaced the traditional leather briefcase with a red cloth ‘bahi-khata’. She also announced that PAN and Aadhaar cards would be interchangeable. PM Modi congratulated her and her team, saying the Budget was “citizen friendly, development friendly, and future oriented.”

2020: India’s longest Budget speech

In 2020, Sitharaman went on to deliver the longest Budget speech in independent India’s history. Beginning at 11 am, the speech continued for nearly two hours and 40 minutes, before she opted to cut it short when just two pages remained as she felt unwell. Continuing her tradition of poetry, she quoted Kashmiri poet Pandit Dinanath Kaul Nadim. The Budget highlighted the National Infrastructure Pipeline and introduced a fundamental restructuring of the personal income tax regime, described as the most consequential institutional reform of that year.

2021: Health and infrastructure in focus

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday, announcing a major push for healthcare and infrastructure. The Budget, however, left income tax slabs unchanged. In her speech, the finance minister said the proposals were built on six pillars—health and well-being; physical, financial capital and infrastructure; inclusive development for aspirational India; reinvigorating human capital; innovation and R&D; and minimum government and maximum governance.During the presentation, Sitharaman wore a red and off-white silk Pochampally saree, woven in Bhoodan Pochampally, Telangana, a region widely known as the ‘silk city of India’.

2022: Blueprint for Amrit Kal

In 2022, Nirmala Sitharaman presented her fourth Union Budget, framing it as a long-term roadmap for the country. “This Union Budget seeks to lay the foundation and give a blueprint of the economy over Amrit Kal of next 25 years – from India at 75 to India at 100,” she said in the Lok Sabha. She emphasised that India is in a strong position to withstand future challenges and reiterated the government’s focus on boosting public investment to modernise infrastructure.The Finance Minister presented a Budget worth Rs 39.45 lakh crore, with a major push towards infrastructure spending. During the presentation, she wore a brown Bomkai saree from Odisha, featuring earthy brown and red tones, reflecting a blend of tradition and elegance.

2023: Saptarishi vision

The 2023 Budget marked another historic moment. Ahead of the presentation, Sitharaman called on President Droupadi Murmu at Rashtrapati Bhavan, making it the first time a woman finance minister presented the Budget to a woman president. Presenting the fifth Budget of her tenure and the last full Budget of the Modi government’s second term, she outlined seven priorities, describing them as the ‘Saptarishi’ guiding the country through the Amrit Kaal—Inclusive Development, Reaching the Last Mile, Infrastructure and Investment, Unleashing the Potential, Green Growth, Youth Power and the Financial Sector. She wore a traditional temple-border red saree with a black border and intricate golden work.

2024: Seventh budget surpasses Desai

In 2024, Sitharaman delivered her shortest Budget speech yet, lasting just 56 minutes. As an Interim Budget ahead of the general elections, it avoided major policy announcements. Presenting her sixth Budget, she focused on women, the poor, youth and farmers, and said the Centre would bring a detailed roadmap for Viksit Bharat 2047 in the full Budget in July. Later that year, she created history by presenting her seventh Union Budget, surpassing former finance minister Morarji Desai’s record of six Budgets.She opted for a white silk saree with magenta border adorned with golden motifs paired with a ‘bahi khata’.

2025: Garib, yuva, annadata, nari in focus

In 2025, Sitharaman presented the Union Budget 2025–26, underlining the government’s commitment to Garib, Yuva, Annadata and Nari. She said the Budget would drive “transformative reforms” across six sectors—taxation, urban development, mining, the financial sector, power and regulatory reforms. Built on four fundamental pillars—Garib (poor), Yuva (youth), Annadata (farmers), and Nari (women)—her speech lasted one hour and 14 minutes, the shortest full Budget speech to date. She wore a white saree with Madhubani artwork and golden borders and continued carrying the traditional ‘bahi-khata’.