Union Budget 2026 LIVE: No change in income tax slabs; customs duty waived on 17 cancer drugs, 3 bew ayurvedic AIIMS, 7 high-speed rail corridors to be built

Feb 1, 2026 12:28 PM

No customs duty on raw materials used for manufacturing aviation parts.

Exemption from basic customs duty on specified parts for microwave ovens.

Feb 1, 2026 12:28 PM

Budget 2026 – Key Customs Duty Updates

Seafood Processing: Duty-free import limit for specified inputs for seafood exports increased from 1% to 3% of FOB value.

Leather Goods: Duty-free imports allowed for specified inputs used in leather exports.

Battery Energy Storage Systems (BESS): Basic customs duty exemption extended for capital goods used in BESS manufacturing.

Sodium Antimonate: No customs duty on sodium antimonate used for manufacturing solar glass.

Nuclear Power Projects: No customs duty on imports of goods for nuclear power projects till 2035.

Feb 1, 2026 12:26 PM

Rate of final tax to be reduced to 14% from current Minimum Alternate Tax (MAT) rate of 15%

Feb 1, 2026 12:26 PM

Buyback tax changes announced

Buybacks to be taxed as capital gains for all types of shareholders, says Finance Minister Nirmala Sitharaman.

Move aims to disincentivise misuse of tax arbitrage.

Promoters to pay additional buyback tax:

Corporate promoters: Effective tax 22%

Non-corporate promoters: Tax 30% on buybacks

Feb 1, 2026 12:26 PM

Tax holiday for foreign cloud companies until 2047

Foreign companies setting up data centres in India to provide cloud services will get a tax holiday until 2047.

The government also proposes a 15% safe harbour on costs if the cloud services in India are provided through a related entity.

Feb 1, 2026 12:23 PM

MARKET UPDATE

Sensex falls 400 points to 81,900

Nifty dips below 25,200

Government banks see sharpest 3.5% drop

Feb 1, 2026 12:17 PM

No change in Income Tax slabs

Finance Minister Nirmala Sitharaman stated that there are no changes in the income tax slabs

Feb 1, 2026 12:15 PM

Update on ITR dates

Individuals with ITR1 and ITR2 to continue to file till July 31

Non-audit business cases and trusts will be allowed to file returns till August 31

Feb 1, 2026 12:13 PM

Northeast & Tourism

Buddhist circuits to be developed in Arunachal Pradesh, Assam, Sikkim, Mizoram, and Tripura.

Plan to help states establish five regional hubs to promote India as a medical tourism destination.

Dedicated centres to strengthen healthcare infrastructure.

Purvodaya Scheme: Focused development in the five Northeastern states through sector-specific initiatives.

Acceptance of 16th Finance Commission recommendations; ₹1.4 lakh crore allocated for rural and urban local body development.

Fiscal Management Targets:

Maintain debt-to-GDP ratio around 50% by 2031.

Keep fiscal deficit below 4.5% of GDP.

Feb 1, 2026 12:10 PM

QUICK LOOK

• New Income Tax Act to come into effect from April 1, 2026
• Motor accident payouts now exempt from income tax
• Simplified tax norms proposed for easier compliance
• Tax return filing deadline extended to March 31
• TCS reduced to 2% for health and education-related transactions
• TDS on sale of immovable property by NRIs to be implemented
• ITR-1 and ITR-2 filing deadline extended to July 31

Feb 1, 2026 12:08 PM

Nimhans 2.0 to be set up

For better mental health treatment, especially in North India, FM says the government will set up Nimhans 2.0 to cater to mental health troubles

Feb 1, 2026 12:05 PM

Ecologically sustainable trails to be developed in Himachal Pradesh, Utttarakhand and Jammu and Kashmir: FM

Feb 1, 2026 12:04 PM

Motor accident claims exempt from tax; new Income Tax Act from April 2026

Motor accident claim exemption: Compensation received from motor accident claims will be exempt from income tax.

Tax estimates: Total estimated tax collection is ₹34 lakh crore.

Capital expenditure: ₹11 lakh crore; total budget estimate is ₹36.5 lakh crore.

New Income Tax Act: Will come into effect from 1 April 2026.

Simplified forms: Redesigned for easier filing by the general public.

Reduced tax rates:

Overseas tour programmes: Tax reduced from 5% → 2%.

Education and medical purposes: Tax reduced from 5% → 2%.

Employee hiring services: Tax increased from 1% → 2%.

Feb 1, 2026 12:01 PM

Investing in innovation

R&D & Innovation: ₹20,000 cr for private-sector-driven initiatives.

Deep Tech Fund of Funds: Support next-generation startups.

PM Research Fellowship: 10,000 fellowships over 5 years for IIT/IISc technological research.

Gene Bank: Second bank with 10 lakh germplasm lines for food & nutrition security.

National Geospatial Mission: Develop geospatial infrastructure for land records, urban planning, and infrastructure design.

Gyan Bharatam Mission: Survey, document, and conserve 1 cr manuscripts; National Digital Repository of Indian knowledge systems.

Feb 1, 2026 12:00 PM

Investing in the economy

PPP in infrastructure: Ministries & states to create 3-year project pipelines; support via IIPDF.

State support: ₹1.5 lakh cr 50-year interest-free loans for capex and reforms.

Asset Monetisation Plan 2025–30: Capital of ₹10 lakh cr to be reinvested in new projects.

Jal Jeevan Mission: Extension to 2028; focus on quality, O&M, citizen-centric water delivery.

Urban reforms: Incentives for governance, municipal services, urban planning; Urban Challenge Fund ₹1 lakh cr (₹10,000 cr allocation for 2025-26).

Power sector: Distribution reforms; extra 0.5% GSDP borrowing allowed for compliant states.

Nuclear energy: Target 100 GW by 2047; SMR R&D Mission with ₹20,000 cr; 5 SMRs by 2033.

Shipbuilding: Financial assistance policy revamped; clusters and HML inclusion.

Maritime Development Fund: ₹25,000 cr corpus, 49% govt share; long-term financing for the maritime sector.

UDAN regional connectivity: Expand to 120 new destinations; 4 cr passengers over 10 years.

Greenfield airports in Bihar: Complement Patna expansion & Bihta brownfield airport.

Western Koshi Canal project: Financial support for 50,000 hectares in Mithilanchal, Bihar.

Mining reforms: State Mining Index; critical mineral recovery from tailings.

SWAMIH Fund 2: ₹15,000 cr to complete 1 lakh affordable housing units.

PM Gati Shakti data access: Private sector PPP planning support.

Tourism & employment: 50 top destinations developed via challenge mode; skill programs, MUDRA loans, connectivity, e-visas; special focus on Lord Buddha sites.

Medical tourism (Heal in India): Private sector partnership, capacity-building, easier visa norms.

Feb 1, 2026 11:59 AM

Investment as the 3rd engine

A. Investing in People

Saksham Anganwadi & Poshan 2.0: Nutritional support to 8 cr children, 1 cr pregnant/lactating women, 20 lakh adolescent girls; cost norms enhanced.

Atal Tinkering Labs: 50,000 labs in government schools over 5 years for innovation and scientific temper.

Broadband connectivity: All rural government secondary schools and PHCs under BharatNet.

Bharatiya Bhasha Pustak Scheme: Digital Indian language books for schools & higher education.

National Centres of Excellence for Skilling: 5 centres to train youth for “Make for India, Make for the World”.

IIT Expansion: Infrastructure for 6,500 new students; IIT Patna hostels expanded.

AI Centre for Education: ₹500 cr to develop AI solutions in education.

Medical education: 10,000 new UG/PG seats next year; 75,000 in 5 years.

Day Care Cancer Centres: 200 centres in 2025-26 across district hospitals.

Urban livelihoods & PM SVANidhi: Revamped loans, UPI-linked credit cards (₹30,000), capacity-building.

Gig workers’ social security: Identity, e-Shram registration, PM Jan Arogya healthcare for ~1 cr workers.

Feb 1, 2026 11:58 AM

MSMEs as the 2nd engine

5.7 crore MSMEs cover manufacturing and services.

Revised classification: Investment and turnover limits doubled to enable growth and employment.

Enhanced credit guarantees:

Micro & Small Enterprises: ₹5 cr → ₹10 cr (additional ₹1.5 lakh cr over 5 years).

Startups: ₹10 cr → ₹20 cr; guarantee fee 1% for 27 focus sectors.

Exporter MSMEs: term loans up to ₹20 cr.

Credit cards for micro enterprises: ₹5 lakh limit; 10 lakh cards in first year.

Fund of Funds for Startups: New ₹10,000 cr fund to expand scope.

First-time entrepreneurs: Scheme for 5 lakh women, SC/ST entrepreneurs; term loans up to ₹2 cr; online capacity-building included.

Labour-intensive sectors: Policy and facilitation measures to boost employment.

Focus Product Scheme (Footwear & Leather): Employment for 22 lakh, turnover ₹4 lakh cr, exports ₹1.1 lakh cr.

Toy sector: National scheme to make India a global hub; focus on clusters, skills, and sustainable manufacturing.

Food processing (Purvodaya): National Institute in Bihar; value addition for farmers, skilling, entrepreneurship.

National Manufacturing Mission: Covering small, medium, and large industries; includes Clean Tech manufacturing (solar PV, EV batteries, wind turbines, grid batteries).

Feb 1, 2026 11:56 AM

Key Agricultural and Rural Development Announcements

1. Prime Minister Dhan-Dhaanya Krishi Yojana

Targets 100 low-productivity districts with moderate crop intensity and below-average credit parameters.

Focus areas: agricultural productivity, crop diversification, sustainable farming, post-harvest storage, irrigation, and credit access.

Expected to benefit 1.7 crore farmers.

2. Rural Prosperity and Resilience Programme

Multi-sectoral initiative to address underemployment in agriculture via skilling, investment, and technology.

Focus on women, youth, small/marginal farmers, and landless families.

Incorporates global and domestic best practices, supported by multilateral development banks.

3. Mission for Aatmanirbharta in Pulses

6-year mission with focus on Tur, Urad, and Masoor.

Central agencies NAFED and NCCF to procure pulses from registered farmers.

4. Comprehensive Programme for Vegetables & Fruits

Promote production, supply efficiency, processing, and remunerative prices.

Farmer producer organizations and cooperatives to be actively involved.

5. Makhana Board in Bihar

Enhance production, processing, value addition, and marketing of Makhana.

Farmers organized into FPOs; training and scheme support provided.

6. National Mission on High Yielding Seeds

Strengthen research ecosystem, develop high-yield, pest-resistant, climate-resilient seeds.

Ensure commercial availability of 100 new seed varieties since July 2024.

7. Fisheries Development

Enable sustainable harnessing of marine resources, focusing on Andaman & Nicobar and Lakshadweep.

Seafood exports currently valued at ₹60,000 crore.

8. Mission for Cotton Productivity

5-year mission to enhance cotton productivity and sustainability, promoting extra-long staple varieties.

Supports textile sector growth and increases farmer incomes.

9. Enhanced Credit via Kisan Credit Cards (KCC)

Short-term loan limit increased from ₹3 lakh to ₹5 lakh under the Modified Interest Subvention Scheme.

Benefits 7.7 crore farmers, fishermen, and dairy farmers.

10. Urea Production in Assam

New urea plant at Namrup with 12.7 lakh MT annual capacity to boost domestic production.

Three dormant urea plants in the Eastern region have been reopened.

11. India Post as Rural Economy Catalyst

1.5 lakh rural post offices, 2.4 lakh Dak Sevaks, and India Post Payment Bank to drive rural economic activity.

Will be transformed into a large public logistics organization supporting MSMEs, women, entrepreneurs, and SHGs.

12. Support to NCDC

Government to provide financial backing for NCDC lending operations.

Feb 1, 2026 11:51 AM

Multilingual AI tool for farmers

Finance Minister Nirmala Sitharaman announced a multilingual AI tool aimed at enhancing farmers’ productivity and activities.

Feb 1, 2026 11:51 AM

Added boost for poll-bound TN: Bird-watching trains proposed

As an added boost for poll-bound Tamil Nadu, Finance Minister Nirmala Sitharaman proposed special trains for bird-watching along the Andhra Pradesh–Tamil Nadu border

Feb 1, 2026 11:49 AM

Education-to-employment standing committee

The government plans to establish a high-powered Education-to-Employment Standing Committee.

The committee will identify priority areas to maximise growth potential in the services sector.

It will also review the impact of emerging technologies, such as AI

Feb 1, 2026 11:48 AM

25 cr people moved out of multi-dimentional poverty over 10 yrs, says FM

Feb 1, 2026 11:46 AM

Foreign individuals allowed direct investment in Indian stocks

Individuals resident outside India will be permitted to invest directly in Indian equities through the Portfolio Investment Scheme.

The individual investment limit will be raised from 5% to 10%, while the aggregate cap for all such investors will increase from 10% to 24%.

The move is expected to enable foreign individual investors to take meaningful stakes in Indian companies, improve price discovery, deepen shareholding, and support long-term capital formation.

Feb 1, 2026 11:45 AM

Push for ayurveda and traditional medicine

A new scheme will be introduced to provide clear career pathways for youth in the healthcare sector.

Over the next five years, one lakh specialist healthcare professionals will be developed, along with training for 1.5 lakh caregivers.

To promote Indian yoga and ayurveda globally, the government will encourage the export of high-quality ayurvedic products.

Three new AIIMS-like institutes for Ayurveda will be established.

National testing laboratories will be set up for Ayurvedic medicines to ensure quality standards.

A WHO Centre for Traditional Medicine will be established in Jamnagar.

Feb 1, 2026 11:44 AM

Centre to review Foreign Exchange Management framework

Feb 1, 2026 11:44 AM

High-level committee on banking for Viksit Bharat

Finance Minister Nirmala Sitharaman proposed the formation of a high-level committee on banking to support the vision of Viksit Bharat.

The committee will undertake a comprehensive review of the banking sector.

The government has also proposed the restructuring of Power Finance Corporation (PFC) and REC Limited, two leading state-owned NBFCs under the Ministry of Power.

Feb 1, 2026 11:43 AM

QUICK LOOK: Govt to focus on six key sectors

Strategic Manufacturing: Expanding production capacity in new and critical sectors.

Legacy Industries: Reviving and modernising ageing industrial sectors.

MSMEs: Nurturing small and medium enterprises to emerge as global champions.

Infrastructure: Strengthening roads, railways, and other core infrastructure.

Security and Stability: Ensuring long-term economic security and stability.

Urban Development: Developing cities as hubs of trade and economic activity.

Feb 1, 2026 11:42 AM

KEY ANNOUNCEMENTS SO FAR

New Freight Corridor: A new freight corridor has been announced for Dankuni in West Bengal to strengthen cargo movement.

Major Infra Push: Capital expenditure for FY 2026–27 has been set at Rs 12.2 lakh crore, up from Rs 11.2 lakh crore last year.

Rare Earth Corridor: Special corridors for rare earth minerals will be developed across Kerala, Tamil Nadu, Odisha, with Andhra Pradesh also included to benefit mineral-rich states.

Textile Sector Boost: Large-scale textile parks will be set up across the country.

‘Bio-Pharma Shakti’ Scheme: A Rs 10,000 crore investment-backed Bio-Pharma Shakti initiative will be launched, including the establishment of three new institutions.

Chip Manufacturing Push: India will roll out ISM 2.0 (India Semiconductor Mission) to strengthen domestic chip manufacturing.

Focus on Electronics: Budgetary support for manufacturing mobile phones and electronic components has been increased to Rs 40,000 crore.

Feb 1, 2026 11:40 AM

Plan to operationalise 20 new national waterways in five years

The government plans to operationalise 20 new National Waterways over the next five years.

Training institutes will be developed as regional centres of excellence in the waterways sector.

A ship repair ecosystem for inland waterways will be set up in Varanasi and Patna.

A coastal cargo scheme will be launched to boost the share of coastal shipping and inland waterways.

To improve last-mile and remote connectivity, support will be provided for the manufacturing of seaplanes.

Feb 1, 2026 11:39 AM

Proposal to set up infrastructure risk guarantee fund

Union Finance Minister Nirmala Sitharaman proposed the creation of an Infrastructure Risk Guarantee Fund and also announced plans to establish dedicated Real Estate Investment Trusts (REITs) to recycle assets of Central Public Sector Enterprises (CPSEs).

Feb 1, 2026 11:39 AM

In FY27, Capital expenditure set at Rs 12.2 lakh crore

Feb 1, 2026 11:35 AM

‘Seven high-speed rail corridors to be developed’

To strengthen connectivity:

• Support will be extended to domestic manufacturers of seaplanes.
• Seven high-speed rail corridors will be developed, including Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, and Siliguri–Varanasi.
• A high-level banking committee will be constituted to support the vision of Viksit Bharat.

Feb 1, 2026 11:34 AM

‘Dedicated freight corridors to be built for cargo movement’

• Under Infrastructure Investment Trusts (InvITs), an allocation of Rs 11.2 lakh crore has been made for the development of Tier-2 and Tier-3 cities with populations above five lakh. This will be increased to Rs 12.2 lakh crore in 2026–27.
• An Infrastructure Risk Guarantee Fund has been created for private developers, under which the government will provide partial guarantees.
• A real estate recycling scheme has been proposed.
• Dedicated freight corridors will be developed for cargo transportation. A separate scheme is also planned to connect ports from Dankuni in the east to Surat in the west.
• To promote the use of waterways, training initiatives will be launched, with Varanasi and Patna to be developed as hubs for inland waterways.

Feb 1, 2026 11:32 AM

Continued focus on infrastructure in Tier-2 and Tier-3 cities

The government will continue to prioritise infrastructure development in tier-2 and tier-3 cities.

Feb 1, 2026 11:32 AM

Modular courses to train ‘Corporate Mitras’

The government plans to introduce modular training courses to create ‘Corporate Mitras’, who will assist MSMEs in ensuring regulatory compliance.

Feb 1, 2026 11:32 AM

Nirmala Sitharaman proposed linking the Government e-Marketplace (GeM) with the Trade Receivables Electronic Discounting System (TReDS) to enable seamless information sharing. She also announced plans to introduce TReDS receivables as asset-backed securities.

Feb 1, 2026 11:31 AM

Self-reliant India fund gets Rs 2000 crore to continue support to micro enterprises.

Feb 1, 2026 11:31 AM

Finance Minister Nirmala Sitharaman proposed the launch of a Rs 10,000 crore SME Growth Fund, aimed at incentivising small and medium enterprises based on select performance criteria.

Feb 1, 2026 11:29 AM

Sensex recovers 500 points from lows; Nifty up 150 points to 25,400

Shares of BEL and Power Grid rose up to 2% as the Sensex bounced back 500 points from its intraday lows, while the Nifty recovered 150 points to reach the 25,400 level.

Feb 1, 2026 11:28 AM

India raises capex plan for FY27

Finance Minister Nirmala Sitharaman announced an increased capital expenditure outlay for FY27 to further the government’s reforms agenda.

Feb 1, 2026 11:27 AM

'India can become a global hub for sports goods'

Finance Minister Nirmala Sitharaman said India had the potential to emerge as a global hub for sports goods while presenting Union Budget 2026. She proposed a dedicated initiative to promote globally competitive sports goods manufacturing.

Feb 1, 2026 11:27 AM

Textile sector in focus

Textile Expansion & Employment Scheme to modernise textile clusters

Samarth 2.0 to promote skilling in the textile sector

Mega Textile Parks to be set up under a challenge-mode approach

Mahatma Gandhi Gram Samaj Initiative to support Khadi and handicrafts

Feb 1, 2026 11:26 AM

FM proposes National Fibre Scheme

Finance Minister Nirmala Sitharaman announced a National Fibre Scheme aimed at achieving self-sufficiency in fibre production

Feb 1, 2026 11:26 AM

The government proposes a container manufacturing scheme with a budgetary allocation of ₹10,000 crore over five years to boost domestic production and meet growing logistics demands.

Feb 1, 2026 11:26 AM

New scheme to boost construction and infrastructure equipment

A scheme will be launched to enhance the construction and infrastructure equipment sector.

Feb 1, 2026 11:24 AM

Rs 10,000-crore SME growth fund

Finance Minister  has proposed a Rs 10,000-crore SME growth fund

Feb 1, 2026 11:24 AM

Semiconductor mission 2.0 to be launched

Finance Minister Nirmala Sitharaman says semiconductor mission 2.0 will be launched. Focus will be on industry-led research and training centres to develop tech and skilled workforce.

Feb 1, 2026 11:22 AM

Pharma sector stocks rise after FM Sitharaman's announcement

Feb 1, 2026 11:21 AM

FM outlines six key interventions

Finance Minister Nirmala Sitharaman proposed initiatives across six areas:

Scale up manufacturing in seven strategic and frontier sectors

Revive legacy industrial sectors

Create champion MSMEs

Boost infrastructure development

Ensure long-term security and stability

Develop city economic regions

Feb 1, 2026 11:20 AM

India's disease burden is observed to be shifting to non-communicable diseases, says Nirmala Sitharaman

Feb 1, 2026 11:18 AM

Rs 10,000 crore allocated for biopharma sector

Finance Minister Nirmala Sitharaman announced a Rs 10,000 crore allocation for the biopharma sector in her budget speech. She highlighted that the government has implemented over 350 reforms to accelerate growth and boost productivity, adding that the “reform express is well on its way.”

Feb 1, 2026 11:16 AM

FM announces bonus for poll-bound Tamil Nadu and three other states

Finance Minister Sitharaman announced the development of a rare earth minerals corridor spanning Tamil Nadu, Odisha, Andhra Pradesh, and Kerala

Feb 1, 2026 11:15 AM

Budget focused on three ‘Kartavyas,’ says Nirmala Sitharaman

Boost and sustain economic growth by enhancing competitiveness

Fulfil the aspirations of the people

Ensure equitable access to resources and opportunities for all families, communities, and regions

She called it a youth-driven, ecosystem-backed budget

Feb 1, 2026 11:13 AM

Nirmala Sitharaman outlined three kartavyas aimed at driving the nation’s growth. She said they include economic growth, fulfilling people’s aspirations and the principle of 'Sabka Saath, Sabka Vikas'.

Feb 1, 2026 11:09 AM

Budget built on three ‘Kartavyas,’ says FM

Finance Minister Nirmala Sitharaman stated in her budget speech that this year’s budget is structured around three kartavyas, or key responsibilities.

Feb 1, 2026 11:07 AM

Lauds PM Modi

Nirmala Sitharaman praised Prime Minister Modi, highlighting his preference for action over ambivalence and reforms over rhetoric. She added that Atmanirbharta (self-reliance) remains India’s guiding principle.

Feb 1, 2026 11:07 AM

'Reforms over rhetoric'

Finance Minister Nirmala Sitharaman opened her Budget speech by emphasising the government’s focus on implementing reforms rather than just rhetoric. She credited this approach for achieving a GDP growth rate of 7.2% despite ongoing geopolitical challenges.

Feb 1, 2026 11:06 AM

FM presenting the Budget 2026

Feb 1, 2026 11:04 AM

Finance Minister Nirmala Sitharaman has begun presenting her ninth consecutive budget speech in Parliament

Feb 1, 2026 11:03 AM

Nirmala Sitharaman begins budget speech

Feb 1, 2026 10:56 AM

Union Cabinet okays Budget 2026-2027; countdown begins for FM's speech

Feb 1, 2026 10:36 AM

LIVE UPDATES

Feb 1, 2026 10:01 AM

Gold and Silver prices ahead of Budget

• Gold, silver prices plunge ahead of Union Budget 2026 
• 24-carat gold drops 5.4% to Rs 1,69,470 per 10 gm; further slides to Rs 1,65,500
• Silver falls 19% to Rs 3.12 lakh per kg, wiping out this week’s record gains
• Earlier, gold had hit Rs 1,83,000/10g and silver Rs 4,04,500/kg
• Global markets also see sharp declines: gold down 9.8%, silver down 27%
• Analysts cite pre-Budget trading and market corrections as main reasons

Feb 1, 2026 09:55 AM

FM chooses Kanjeevaram saree for her record ninth Budget; saree originates from poll-bound Tamil Nadu

Feb 1, 2026 09:52 AM

Feb 1, 2026 09:50 AM

President feeds dahi cheeni to FM as a customary ritual

President Droupadi Murmu fed Finance Minister Nirmala Sitharaman dahi cheeni as a customary ritual

Feb 1, 2026 09:42 AM

Markets fall ahead of Union Budget 2026

Feb 1, 2026 09:22 AM

'We are all looking forward to hearing what FM has to tell us': Shashi Tharoor

Feb 1, 2026 09:20 AM

Budget 2026 in line with Viksit Bharat 2047 vision, says MoS Pankaj Chaudhary

Feb 1, 2026 09:20 AM

FM leaves Finance Ministry with digital tablet in ‘bahi khata’ pouch

Feb 1, 2026 09:18 AM

Feb 1, 2026 09:09 AM

Nirmala Sitharaman heads to Parliament to present her record ninth Budget

Feb 1, 2026 09:07 AM

Did you know?

Nirmala Sitharaman holds the distinction of delivering the longest Union Budget speech in India’s parliamentary history. Her 2020 Budget address stretched for 2 hours and 42 minutes, setting a record that remains unmatched. 

Feb 1, 2026 09:06 AM

Five key things to watch in Sitharaman’s Budget speech

The Union Budget 2026 is being presented amid global uncertainty, with trade and growth facing pressure due to higher US tariffs under President Donald Trump.

Here are the key areas to track in Finance Minister Nirmala Sitharaman’s address:

Fiscal consolidation:

The government is expected to focus on lowering public debt to 49–51% of GDP. The fiscal deficit for 2026–27 may be set at around 4.2% of GDP, with gross borrowing estimated between ₹16 trillion and ₹16.8 trillion.

Tax relief measures:

Investors and taxpayers will look for changes in long-term capital gains (LTCG) tax limits and a possible expansion of the Section 87A rebate. Currently, residents earning up to Rs 12 lakh get a rebate of up to Rs 60,000, though capital gains tax still applies under the new regime.

Foreign investment in defence:

The Budget may ease FDI norms in defence manufacturing, as the government considers a push for higher military spending, with defence outlay expected to rise by about 20%.

Standard deduction hike:

There is speculation that the standard deduction under the new tax regime could be increased from Rs 75,000 to Rs 1 lakh, offering relief to salaried employees.

Support for exporters:

Exporters are seeking lower import duties on raw materials, especially for sectors such as electronics and textiles, to strengthen manufacturing and offset the impact of steep US tariffs on Indian goods

Feb 1, 2026 09:04 AM

The Union Budget 2026, to be presented today by Finance Minister Nirmala Sitharaman, is expected to place strong emphasis on regulatory reforms aimed at easing compliance and reducing bureaucratic hurdles, according to sources aware of the developments.

The proposed focus is in line with Prime Minister Narendra Modi’s “Reform Express” approach outlined in recent policy directions. Officials see the measures as a key step toward improving the ease of doing business and steering the country closer to the long-term goal of Viksit Bharat 2047.

Feb 1, 2026 08:37 AM

In a first in India, Budget on a Sunday

Feb 1, 2026 08:36 AM

Feb 1, 2026 08:35 AM

This will be Nirmala Sitharaman's 9th Budget today

Feb 1, 2026 08:34 AM

FM Nirmala Sitharaman leaves her residence

Nirmala Sitharaman, MoS Pankaj Chaudhary depart for Kartavya Bhavan ahead of Union Budget 2026 presentation

Feb 1, 2026 08:33 AM

SPOTLIGHT ON REFORMS

• The structure of this year’s Budget speech shows a clear change.
• Part B, which usually focuses on tax proposals, is expected to become the main highlight.
• It will likely present the government’s key economic priorities in detail.
  
  What the government plans to highlight
• Strengthening manufacturing
• Expanding exports
• Making India more competitive in global value chains

Earlier, these topics were covered in Part A, but shifting them to Part B shows a stronger focus on reforms.

The government wants to present a clear and direct reform roadmap.

The budget will showcase India’s current strengths and future potential in manufacturing, trade and technology.

‘Reform Express’ theme

• Within the Finance Ministry, the budget’s theme is being called “Reform Express”.
• The focus is on long-term structural reforms, not short-term freebies.

Key areas include:

• Simplifying regulations
• Improving competitiveness
• Strengthening domestic manufacturing
  
  Why reforms matter now
• Global trade conditions are becoming tougher.
• Indian exporters are still facing high US tariffs, affecting many sectors.
• Building export resilience and a strong manufacturing ecosystem is now a priority.