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Union Budget 2026 impact on markets, Budget 2026 corporate India, securities transaction tax hike, STT on futures and options, derivatives tax increase India, stock market crash after Budget, Sensex post budget fall, Nifty post budget reaction, brokerage stocks decline, market sell off India budget, capital expenditure Rs 12.2 lakh crore, manufacturing incentives India,

Tax relief for some, market pain for many

On paper, the Finance Minister has adhered to a fiscally conservative script, protected capital expenditure at a record Rs 12.2 lakh crore, and provided targeted incentives across manufacturing, biopharma, container production, textiles, and MSMEs—clearly indicating its intent to rebuild India’s industrial base amid global supply-chain realignment.