Nirmala Sitharaman is the first woman to present the Union Budget for the ninth consecutive time, making history in the country's Parliamentary history, Prime Minister Narendra Modi said on Thursday. Addressing the 2026 Budget Session in Parliament, PM Modi said that one-fourth of the 21st century has gone by.
“This is the beginning of the next quarter. To attain the goal of Viksit Bharat in 2047, the important phase of these 25 years has begun. The first Budget of this second quarter of the century is about to be presented,” the Prime Minister noted. PM Modi further stated that Sitharaman is the first woman finance minister of the country to present the Budget in Parliament for the ninth consecutive time.
“This is registered as a proud moment in the Parliamentary history of the country," PM Modi highlighted. FM Sitharaman will present the 15th Budget of the PM Modi government on February 1. This will also be the second full Budget since the National Democratic Alliance (NDA) came to power for a third consecutive term in 2024.
For the Union Budget 2026, the finance minister is backed by a strong team of bureaucrats and economists, including several new entrants. Anuradha Thakur, Economic Affairs Secretary, is widely seen as the key figure in shaping the overall Budget architecture.
She leads the Budget Division, which drafts the core documents and frames the macroeconomic strategy for FY2026-27. Her responsibilities include guiding resource allocation, assessing fiscal space, and ensuring that growth priorities align with overall economic stability.
Chief Economic Adviser V. Anantha Nageswaran provides the analytical backbone for the Union Budget. His office assesses global risks, projects economic growth, and evaluates sectoral trends across agriculture, industry, and services. It also advises the Finance Minister on major reforms, fiscal policy choices, and long-term financial strategy.
Revenue Secretary Arvind Shrivastava supervises both direct taxes, such as income tax and corporate tax, and indirect levies, including GST and customs duties. Budget 2026-27 will be his first as Revenue Secretary. Expenditure Secretary Vumlunmang Vualnam oversees public spending, subsidy reforms, and the rollout of major central schemes.
His department plays a key role in maintaining fiscal discipline and managing the fiscal deficit. Department of Financial Services Secretary M. Nagaraju supervises public sector banks, insurance companies, and pension institutions. His department is deeply involved in pushing financial inclusion, expanding credit, and strengthening social security programmes.
Arunish Chawla, Secretary, Department of Investment and Public Asset Management, is responsible for managing non-tax revenue targets arising from the sale of government stakes in central public sector enterprises.