THE HEADLINES:
- Budget 2026-27 focuses on capacity building and reforms; Finance Minister Nirmala Sitharaman calls it Yuva Shakti-driven Budget.
- Finance minister presenting her 9th budget in row, Proposes to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen khadi, handloom and handicrafts. For Textile Sector, the budget proposes Integrated Programme with National Fibre Scheme and National Handloom and Handicraft programme to set up Mega Textile Parks.
- Finance Minister introduces a dedicated 10 thousand crore rupee SME Growth Fund, to create future Champion SMEs incentivizing enterprises based on select criteria.
- Government to increase outlay of Electronics Components Manufacturing Scheme to 40 thousand crore rupees.
- Three dedicated Chemical Parks to be established to promote mining, processing, research and manufacturing.
- Seven High-Speed Rail corridors to be developed between Mumbai – Pune, Pune – Hyderabad, Hyderabad – Bengaluru, Hyderabad – Chennai, Chennai – Bengaluru, Delhi – Varanasi, and Varanasi – Siliguri.
- Centre decides to set up High Level Committee on Banking for Viksit Bharat to review the banking sector.
- Government to set up high-powered Education to Employment and Enterprise’ Standing Committee to focus on the services sector as the core driver of Viksit Bharat.
- Basic customs duty exempted on 17 drugs and medicines for cancer patients.
- Three new All India Institutes of Ayurveda to be established to prepare more skilled health personnel.
- Government to launch a Khelo India Mission to transform the Sports sector.
- Centre t to set up NIMHANS-2 and also upgrade National Mental Health Institutes in Ranchi and Tezpur as Regional Apex Institutions.
- No change in Income tax; Budget proposes to extend time to file revised return or belated return upto 31st March following the tax year.
- Centre announces removal of interest deduction against dividend and mutual funds income.
- STT on Futures increased from 0.02 per cent to 0.05 per cent.
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Finance Minister Nirmala Sitharaman today presented the Union Budget for the year 2026-27 in the Lok Sabha. This was the 9th consecutive Budget presented by the Finance Minister Nirmala Sitharaman.
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Prime Minister Narendra Modi is now speaking about Union Budget 2026-2027. We now take you live to listen to the Prime Minister address.
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Presenting the 9th consecutive budget in the Lok Sabha Finance Minister termed the budget Yuva Shakiti driven. Ms. Sitharaman highlighted substantial strides in poverty reduction and improvement in the lives of country’s people. She said, this years’ budget is inspired by three Kartavya of accelerating economic growth, to build capacity of the people and to provide resources, amenities and opportunities to every family, community, region and sector.
The Minister announced that Biopharma SHAKTI with an outlay of 10 thousand crore rupees will be launched to develop India as a global Biopharma manufacturing hub in the next five years.
For the labour-intensive Textile Sector, the Finance Minister announced to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen khadi, handloom and handicrafts.
Amid thumping of the desk by Prime Minister Narendra Modi and Members of the Parliament, Finance Minister Nirmala Sitharaman has said, the government will develop seven High-Speed Rail corridors between cities as growth connectors.
Highlighting the robustness of the country’s financial sector, the Finance Minister said, the government has decided to set up High Level Committee on Banking for Viksit Bharat to comprehensively review the banking sector and to safeguarding financial stability, inclusion and consumer protection.
On the importance of Artificial intelligence in governance, the Finance Minister said, adoption of technology is for the benefit of people including farmers, women, youth and Divyangjan to access newer opportunities.
On the growth of the sports sector and nurturing sporting talent in the country, the Minister said, the government will launch a Khelo India Mission to transform the Sports sector over the next decade.
The Finance Minister highlighted the government’s vision for increasing farmers’ income, empowering Divyangjans, and the vulnerable to access mental health and trauma care and focus on the Purvodaya States and the North-East Region to accelerate development and employment opportunities.
Finance Minister has announced to launch a Scheme for Development of Buddhist Circuits in Arunachal Pradesh, Sikkim, Assam, Manipur, Mizoram and Tripura.
The Finance Minister said, fiscal deficit in financial year 2026-27 is estimated to be 4.3 percent of GDP compared to 4.4 percent in current fiscal. She said, the government has extended the timeline for filing of tax returns. Individuals with ITR 1 and ITR 2 returns will continue to file return till 31st July and non-audit business cases or trusts are proposed to be allowed time till 31st August.
Finance Minister said the Income Tax Act, 2025 will come into effect from 1st April, 2026. She said, the simplified Income Tax Rules and Forms will be notified shortly, giving adequate time to taxpayers to acquaint themselves with its requirements.
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Union Minister Ashwini Vaishnaw has thanked Prime Minister Modi and Finance Minister Sitharaman for creating a strong foundation of growth for Viksit Bharat through the Union Budget. Talking to reporters outside Parliament, Mr Vaishnaw said that the Budget has laid emphasis on manufacturing including electronics and semiconductor manufacturing. He said, for Railways, there is a provision of setting up new High-Speed Corridors.
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PHD Chamber of Commerce and Industry (PHDCCI) has welcomed the Union Budget 2026 stating it will increase competitiveness among the Small and Medium Enterprises (MSMEs). PHD Chairman of Commerce and Industry Dr. Ranjit Mehta said, the fund will increase the competitiveness among the MSMEs.
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Confederation of Indian Industry (CII) has hailed the Union Budget 2026, terming it positive. Talking to media, CII President Rajiv Memani said, the Union Budget 2026-27, fulfills the demands of the industries including those of the MSMEs. He also lauded the special focus on the services sector.
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THE HEADLINES ONCE AGAIN
- Budget 2026-27 focuses on capacity building and reforms; Finance Minister Nirmala Sitharaman calls it Yuva Shakti-driven Budget.
- Finance minister presenting her 9th budget in row, Proposes to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen khadi, handloom and handicrafts. For Textile Sector, the budget proposes Integrated Programme with National Fibre Scheme and National Handloom and Handicraft programme to set up Mega Textile Parks.
- Finance Minister introduces a dedicated 10 thousand crore rupee SME Growth Fund, to create future Champion SMEs incentivizing enterprises based on select criteria.
- Government to increase outlay of Electronics Components Manufacturing Scheme to 40 thousand crore rupees.
- Three dedicated Chemical Parks to be established to promote mining, processing, research and manufacturing.
- Seven High-Speed Rail corridors to be developed between Mumbai – Pune, Pune – Hyderabad, Hyderabad – Bengaluru, Hyderabad – Chennai, Chennai – Bengaluru, Delhi – Varanasi, and Varanasi – Siliguri.
- Centre decides to set up High Level Committee on Banking for Viksit Bharat to review the banking sector.
- Government to set up high-powered Education to Employment and Enterprise’ Standing Committee to focus on the services sector as the core driver of Viksit Bharat.
- Basic customs duty exempted on 17 drugs and medicines for cancer patients.
- Three new All India Institutes of Ayurveda to be established to prepare more skilled health personnel.
- Government to launch a Khelo India Mission to transform the Sports sector.
- Centre t to set up NIMHANS-2 and also upgrade National Mental Health Institutes in Ranchi and Tezpur as Regional Apex Institutions.
- No change in Income tax; Budget proposes to extend time to file revised return or belated return upto 31st March following the tax year.
- Centre announces removal of interest deduction against dividend and mutual funds income.
- STT on Futures increased from 0.02 per cent to 0.05 per cent.
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