PM Modi hails Union Budget 2026, says it ‘reflects the aspirations of 140 crore Indians’; Rs 11 lakh cr m-cap wiped out
The Union Budget 2026–27 presented today in Parliament unveiled several infrastructure initiatives, including seven high-speed rail corridors across the country to boost connectivity. It also announced several tax reforms and customs duty exemptions for several drugs, including cancer medicines.
Statesman News Service | Mumbai | February 1, 2026 8:00 am
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Finance Minister Nirmala Sitharaman on Sunday (February 1, 2026) presented the Union Budget 2026–27 in the Lok Sabha. The Budget lays out the roadmap for a Viksit Bharat and highlights the achievements of the Narendra Modi government over the last decade. This was the Modi government’s 13th full Budget, and Nirmala Sitharaman’s ninth consecutive. It followed the tabling of the Economic Survey earlier this week, which outlined the broader economic outlook.
The Budget presented today unveiled several infrastructure initiatives, including seven high-speed rail corridors across the country to boost connectivity. It also announced several tax reforms and customs duty exemptions for several drugs, including cancer medicines. The Budget also made a push for setting up data centres in the country with a tax holiday for foreign companies until 2047.
Prime Minister Narendra Modi, in his reaction, called the Budget ambitious and the one that lays down the roadmap for a Viksit Bharat by 2047. He said the Budget reflects the aspirations of 140 crore Indians.
Follow this live blog for updates from Parliament, including key announcements, Budget highlights, documents tabled and political reactions.
Asserting that the challenges are "more externally driven", the Finance Minister emphasised that India's domestic economic situation remains "positive and resilient."
She criticised “fear-mongering” by sections that quickly project negative narratives about the economy during periods of global uncertainty. According to the Finance Minister, such reactions undermine the achievements of Indians and create unnecessary anxiety.