In consonance with the objective of the Government of India to have wider consultations with various stakeholders as well as to provide more time for planners, it has been decided to start the Budget exercise by middle of August, 2015 for the forthcoming Financial Year 2016-17.

 The Budget circular which marks the beginning of the Budget formulation exercise is being issued by the Budget Division, Department of Economic Affairs (DEA), Ministry of Finance (MoF). This advances the process by over two months.

Budget formulation exercise advanced to enable wider stakeholder consultations and extend planning time under a budget circular. Advance of the budget formulation exercise by over two months initiates earlier departmental preparations, extends planners' timelines, and mandates wider stakeholder consultations through a budget circular issued by the Budget Division to set the revised timetable and consultation expectations.