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PM Modi hails Union Budget 2026, says it ‘reflects the aspirations of 140 crore Indians’; Rs 11 lakh cr m-cap wiped out

Statesman News Service

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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.

Union Budget 2026–27 Highlights

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.

Union Budget 2026-27 LIVE UPDATES:

As India presents its Union Budget 2026, World Richest Man flags changing balance of power


https://twitter.com/elonmusk/status/2017485380489253110

As India presents its Union Budget 2026, World Richest Man flags changing balance of power


https://twitter.com/elonmusk/status/2017485380489253110

As India presents its Union Budget 2026, World Richest Man flags changing balance of power


https://twitter.com/elonmusk/status/2017485380489253110

As India presents its Union Budget 2026, World Richest Man flags changing balance of power


https://twitter.com/elonmusk/status/2017485380489253110

https://twitter.com/priyankac19/status/2017934136061960410

Union Budget 2026–27: ₹500 crore push for sports goods manufacturing; Khelo India Mission unveiled


India’s sports goods manufacturing sector emerged as a major beneficiary in the Union Budget 2026–27, with Finance Minister Nirmala Sitharaman announcing a first-time allocation of ₹500 crore for the segment while increasing the overall budget of the Ministry of Youth Affairs and Sports by over ₹1,000 crore. Presenting the Budget in the Lok Sabha on Sunday, Sitharaman underlined India’s potential to evolve into a global hub for high-quality and affordable sports goods—an objective consistently advocated by Union Sports Minister Mansukh Mandaviya since assuming office. “I propose a dedicated initiative for sports goods that will promote manufacturing, research and innovation in equipment design as well as material sciences,” the Finance Minister said in her Budget speech.

There is enough (in the Budget) for both election and non-election states, says FM

Finance Minister Nirmala Sitharaman presented the Union Budget on a Sunday morning this year, clad in a Kattam Kanjeevaram silk saree from Tamil Nadu. Kanjeevaram sarees are traditional handwoven silks known for their rich texture and craftsmanship. Tamil Nadu, along with Kerala, West Bengal, Puducherry, and Assam, is among the states heading to Assembly polls later this year.

This apart, there seemed no “state-specific bonanzas” for the poll-bound regions in Sitharaman’s ninth consecutive Budget, framed around “three kartavyas and seven strategic and frontier sectors.”

As the BJP prepares for five Assembly polls and battles upper-caste discontent,the Union Budget surprisingly had no clear political message.


The speech did not specifically address poll-bound states, allies, or the middle class. There was no income tax relief; the only measure for salaried citizens was a promise of simplified tax forms for easier compliance. The FM did not even mention West Bengal, as TMC MPs also pointed.

Key Budget Highlights:

India Semiconductor Mission 2.0 with Rs 40,000 cr outlay

Sitharaman announced the launch of India Semiconductor Mission (ISM) 2.0 to produce equipment and materials, design full-stack Indian IP, and fortify supply chains. She announced a Rs 40,000 crore outlay for semiconductors.

''The Electronics Components Manufacturing Scheme (ECMS), launched in April 2025 with an outlay of 722,919 crore, already has investment commitments at double the target. It has now been proposed to increase the outlay to Rs. 40,000 Crores to capitalise on the momentum,'' she said.

The focus will be on industry-led research and training centres to develop technology and a skilled workforce. Provision of Rs 1,000 crores has been made towards this for FY 2026-27. ISM 1.0 has expanded India's semiconductor sector capabilities, and ISM 2.0 will build on the same.

In order to support the IT sector as India's growth engine and to provide tax certainty, Budget 2026-27 has proposed new safe harbour provisions for IT/ITeS with a higher threshold and a competitive margin.

There is enough (in the Budget) for both election and non-election states, says FM

Finance Minister Nirmala Sitharaman presented the Union Budget on a Sunday morning this year, clad in a Kattam Kanjeevaram silk saree from Tamil Nadu. Kanjeevaram sarees are traditional handwoven silks known for their rich texture and craftsmanship. Tamil Nadu, along with Kerala, West Bengal, Puducherry, and Assam, is among the states heading to Assembly polls later this year.

This apart, there seemed no “state-specific bonanzas” for the poll-bound regions in Sitharaman’s ninth consecutive Budget, framed around “three kartavyas and seven strategic and frontier sectors.”

As the BJP prepares for five Assembly polls and battles upper-caste discontent,the Union Budget surprisingly had no clear political message.


The speech did not specifically address poll-bound states, allies, or the middle class. There was no income tax relief; the only measure for salaried citizens was a promise of simplified tax forms for easier compliance. The FM did not even mention West Bengal, as TMC MPs also pointed.

Key Budget Highlights:

India Semiconductor Mission 2.0 with Rs 40,000 cr outlay

Sitharaman announced the launch of India Semiconductor Mission (ISM) 2.0 to produce equipment and materials, design full-stack Indian IP, and fortify supply chains. She announced a Rs 40,000 crore outlay for semiconductors.

''The Electronics Components Manufacturing Scheme (ECMS), launched in April 2025 with an outlay of 722,919 crore, already has investment commitments at double the target. It has now been proposed to increase the outlay to Rs. 40,000 Crores to capitalise on the momentum,'' she said.

The focus will be on industry-led research and training centres to develop technology and a skilled workforce. Provision of Rs 1,000 crores has been made towards this for FY 2026-27. ISM 1.0 has expanded India's semiconductor sector capabilities, and ISM 2.0 will build on the same.

In order to support the IT sector as India's growth engine and to provide tax certainty, Budget 2026-27 has proposed new safe harbour provisions for IT/ITeS with a higher threshold and a competitive margin.

https://twitter.com/PIB_India/status/2017902589334159834

Rahul Gandhi says Union Budget 2026 is blind to India's real crisis


Congress leader Rahul Gandhi has slammed the Union Budget 2026-2027, saying it is blind to India's real crisis and refuses course correction. In a social media post on X, Gandhi flagged that manufacturing is falling, investors are pulling out capital, and household savings are plummeting.

"Youth without jobs. Falling manufacturing. Investors are pulling out capital. Household savings plummeting. Farmers in distress. Looming global shocks - all ignored. A Budget that refuses course correction, blind to India's real crises," he said.

Faceless, baseless, and visionless Budget, says TMC MP Abhishek Banerjee


TMC MP Abhishek Banerjee has reacted sharply to the Union Budget 2026. He said that West Bengal was ingnored in the Budget. "The Budget that was presented was 1 hour and 25 minutes of the speech of Union Finance Minister. Eighty-Five minutes means 5100 seconds. In these 5100 seconds, Bengal's name was not taken even once."

He said that there was no concrete discussion on how jobs would be provided to the youth and how employment would be generated. "This is a faceless, baseless, and visionless Budget," he remarked.

Banerjee also alleged that the Narendra Modi government "views Bengal as Bangladesh". "Otherwise, why was Bengal not mentioned even once? We had no expectations with this Budget. They knew that even if they spent money in Bengal, they wouldn't win. So, from their perspective, if you see, they have preferred not to spend any money on Bengal."

Sensex bleeds 1,547 pts, Nifty below 24,850 as markets react to Union Budget 2026

Sensex plummeted 1,547 points, and Nifty fell below 24,850 during the budget special weekend session on Sunday. Finance Minister Nirmala Sitharaman announced a hike in the securities transaction tax (STT) on futures and options in her Budget 2026 speech.

Coming back to Sitharaman's presser now. The Finance Minister gave more details about the Semiconductor mission, saying it has two major announcements that will improve the India stack and also the IP-related matters.

"The electronic components manufacturing scheme for Rs 40,000 crores is a major encouragement for electronics to become self-sufficient," the Finance Minister said.

She highlights the announcement of rare earth corridors to ensure that the country's requirements are met. "So once we identify and can explore these minerals and process them, make them available for us, our dependency on external sources for bringing in the rare earths will be lesser and we've identified the states where we want to establish these rare earth corridors. They are going to be in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. So these are very important developments, and they are going to have multiple, decadent uh impact on the Indian economy. Our dependence on magnets and rare earths will be brought down."


https://twitter.com/ANI/status/2017893281095713123

Congress President Mallikarjun Kharge is also reacting to the Union Budget 2026

He says the Modi government has run out of new ideas and the budget presented by Finance Minister Nirmala Sitharaman raises more questions than it answers regarding India's significant economic, social, and political challenges.

"They have not presented any solution, positive suggestion, or concrete steps to control inflation. The Economic Survey indicates that trade uncertainty is a major challenge for India. Yet, the budget barely acknowledges this problem," Kharge says. He further added that the government has "no plan to address the falling value of the rupee."

According to Kharge, the budget shows no intention of reviving consumer demand. "The decline in domestic savings and the increasing burden of personal debt have also been ignored. There is no solution to the widespread unemployment crisis among educated youth," he added.

The Congress chief alleged that "inequality has surpassed the levels seen during the British Raj", and yet the budget didn't even mention that. He also stated that the government has not made any provision for assistance for Scheduled Castes, Scheduled Tribes, Other Backward Classes, Economically Weaker Sections, or minorities.


https://twitter.com/ANI/status/2017899312643182779

Congress President Mallikarjun Kharge is also reacting to the Union Budget 2026

He says the Modi government has run out of new ideas and the budget presented by Finance Minister Nirmala Sitharaman raises more questions than it answers regarding India's significant economic, social, and political challenges.

"They have not presented any solution, positive suggestion, or concrete steps to control inflation. The Economic Survey indicates that trade uncertainty is a major challenge for India. Yet, the budget barely acknowledges this problem," Kharge says. He further added that the government has "no plan to address the falling value of the rupee."

According to Kharge, the budget shows no intention of reviving consumer demand. "The decline in domestic savings and the increasing burden of personal debt have also been ignored. There is no solution to the widespread unemployment crisis among educated youth," he added.

The Congress chief alleged that "inequality has surpassed the levels seen during the British Raj", and yet the budget didn't even mention that. He also stated that the government has not made any provision for assistance for Scheduled Castes, Scheduled Tribes, Other Backward Classes, Economically Weaker Sections, or minorities.


https://twitter.com/ANI/status/2017899312643182779

Finance Minister Nirmala Sitharaman is now addressing the post-budget press conference


Sitharaman says the government is laying the path and giving a push to the economy to maintain the growth momentum. "Primarily, we are looking at building the ecosystem with structural reforms, which will continue. Reforms have been carried out. We are continuing to do the reform activities. It will continue with an aim to make sure that we create an environment for improving productivity and ensuring employment."

She further adds, "The 21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man...Rs 1000 crore per year per city is being given, and the emphasis is going to be largely on tier 2, tier 3 cities."



Finance Minister Nirmala Sitharaman is now addressing a press conference on the Union Budget 2026


Sitharaman says the government is laying the path and giving a push to the economy to maintain the growth momentum. "Primarily, we are looking at building the ecosystem with structural reforms, which will continue. Reforms have been carried out. We are continuing to do the reform activities. It will continue with an aim to make sure that we create an environment for improving productivity and ensuring employment."

She further adds, "The 21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man...Rs 1000 crore per year per city is being given, and the emphasis is going to be largely on tier 2, tier 3 cities."



Finance Minister Nirmala Sitharaman is now addressing the post-budget press conference


Sitharaman says the government is laying the path and giving a push to the economy to maintain the growth momentum. "Primarily, we are looking at building the ecosystem with structural reforms, which will continue. Reforms have been carried out. We are continuing to do the reform activities. It will continue with an aim to make sure that we create an environment for improving productivity and ensuring employment."

She further adds, "The 21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man...Rs 1000 crore per year per city is being given, and the emphasis is going to be largely on tier 2, tier 3 cities."



What BJP national president Nitin Nabin said on the Union Budget:

Defence Minister Rajnath Singh has said the Budget FY27 lives up to the expectations of the people and provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047.

"The Budget allocates Rs 7.85 lakh crore for the defence sector. This budget, following the historic success of Operation Sindoor, has reinforced our resolve to further strengthen the country's defence system. This year, a provision of Rs 2.19 lakh crore has been made for the overall capital expenditure of our armed forces, and the key focus of this budget is the modernisation of our three armed forces. For this, a provision of Rs 1.85 lakh crore has been made. In short, this budget strengthens the balance between security, development, and self-reliance."

Defence Minister Rajnath Singh has said the Budget FY27 lives up to the expectations of the people and provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047.

"The Budget allocates Rs 7.85 lakh crore for the defence sector. This budget, following the historic success of Operation Sindoor, has reinforced our resolve to further strengthen the country's defence system. This year, a provision of Rs 2.19 lakh crore has been made for the overall capital expenditure of our armed forces, and the key focus of this budget is the modernisation of our three armed forces. For this, a provision of Rs 1.85 lakh crore has been made. In short, this budget strengthens the balance between security, development, and self-reliance."

watch | Delhi: On Union Budget, Defence Minister Rajnath Singh says, "... This budget lives up to the sentiments and expectations of the people. Furthermore, this budget provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047, with… pic.twitter.com/H9U53XNMs3

— ANI (@ANI) February 1, 2026

Defence Minister Rajnath Singh has said the Budget FY27 lives up to the expectations of the people and provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047.

"The Budget allocates Rs 7.85 lakh crore for the defence sector. This budget, following the historic success of Operation Sindoor, has reinforced our resolve to further strengthen the country's defence system. This year, a provision of Rs 2.19 lakh crore has been made for the overall capital expenditure of our armed forces, and the key focus of this budget is the modernisation of our three armed forces. For this, a provision of Rs 1.85 lakh crore has been made. In short, this budget strengthens the balance between security, development, and self-reliance."


watch | Delhi: On Union Budget, Defence Minister Rajnath Singh says, "... This budget lives up to the sentiments and expectations of the people. Furthermore, this budget provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047, with… pic.twitter.com/H9U53XNMs3

— ANI (@ANI) February 1, 2026


What Rahul Gandhi said (or didn't say) on Budget

Defence Minister Rajnath Singh has said the Budget FY27 lives up to the expectations of the people and provides a strong foundation for PM Modi's vision of a self-reliant India and a developed India by 2047.

"The Budget allocates Rs 7.85 lakh crore for the defence sector. This budget, following the historic success of Operation Sindoor, has reinforced our resolve to further strengthen the country's defence system. This year, a provision of Rs 2.19 lakh crore has been made for the overall capital expenditure of our armed forces, and the key focus of this budget is the modernisation of our three armed forces. For this, a provision of Rs 1.85 lakh crore has been made. In short, this budget strengthens the balance between security, development, and self-reliance."

PM Modi's address on Budget 2026-27

Prime Minister Narendra Modi has delivered his first statement post the Union Budget 2026 announcement, calling it a strong push to India's growth trajectory. The PM, in an address to the nation, said the Union Budget 2026-27 presents an ambitious roadmap for ‘Make in India’ and Atmanirbhar Bharat (self-reliant India).

"This Budget is the foundation for our journey towards a Viksit Bharat by 2047. The Budget strengthens the reform journey and reflects the aspirations of 140 crore Indians," said the PM.

Modi said this year's Budget, presented by Finance Minister Nirmala Sitharaman in Parliament today, will give India's 'Reform Express' new energy and new momentum.

"India is not content with simply being the fastest-growing economy. India wants to become the world's third-largest economy. This year's budget presents an ambitious roadmap to give new momentum to the Make in India and Aatmanirbhar Bharat initiatives," he said in his address.

Union Minister Jyotiraditya Scindia said today's Budget is a historic one. "There has been a 7.5% increase in GDP over the last year. Inflation has been controlled. There is a control on fiscal deficit. There has been growth in the agriculture, service, and manufacturing sectors."

Budget for women, yuva shakti, MSMEs: PM

Noting that the Union Budget presented a short while ago in Parliament, is ambitious and addresses the country's aspirations, the PM said the aim is to ensure that prosperity reaches every household.

"This year's Budget prioritises a modern ecosystem of Self-Help Groups created and run by women. This year's budget is for Yuva Shakti. The provisions made in the Budget will nurture leaders, innovators and creators across various sectors," the PM said.

He added that the support that MSMEs have received in this year's Budget will give them new strength to grow from local to global.

Budget for women, yuva shakti, MSMEs: PM

Noting that the Union Budget presented a short while ago in Parliament, is ambitious and addresses the country's aspirations, the PM said the aim is to ensure that prosperity reaches every household.

"This year's Budget prioritises a modern ecosystem of Self-Help Groups created and run by women. This year's budget is for Yuva Shakti. The provisions made in the Budget will nurture leaders, innovators and creators across various sectors," the PM said.

He added that the support that MSMEs have received in this year's Budget will give them new strength to grow from local to global.

PM Modi's address on Budget 2026-27

Prime Minister Narendra Modi has delivered his first statement post the Union Budget 2026 announcement, calling it a strong push to India's growth trajectory. The PM, in an address to the nation, said the Union Budget 2026-27 presents an ambitious roadmap for ‘Make in India’ and Atmanirbhar Bharat (self-reliant India).

"This Budget is the foundation for our journey towards a Viksit Bharat by 2047. The Budget strengthens the reform journey and reflects the aspirations of 140 crore Indians," said the PM.

Modi said this year's Budget, presented by Finance Minister Nirmala Sitharaman in Parliament today, will give India's 'Reform Express' new energy and new momentum.

"India is not content with simply being the fastest-growing economy. India wants to become the world's third-largest economy. This year's budget presents an ambitious roadmap to give new momentum to the Make in India and Aatmanirbhar Bharat initiatives," he said in his address.

PM Modi's address on Budget 2026-27

Prime Minister Narendra Modi has delivered his first statement post the Union Budget 2026 announcement, calling it a strong push to India's growth trajectory. The PM, in an address to the nation, said the Union Budget 2026-27 presents an ambitious roadmap for ‘Make in India’ and Atmanirbhar Bharat (self-reliant India).

"This Budget is the foundation for our journey towards a Viksit Bharat by 2047. The Budget strengthens the reform journey and reflects the aspirations of 140 crore Indians," said the PM.

Modi said this year's Budget, presented by Finance Minister Nirmala Sitharaman in Parliament today, will give India's 'Reform Express' new energy and new momentum.

"India is not content with simply being the fastest-growing economy. India wants to become the world's third-largest economy. This year's budget presents an ambitious roadmap to give new momentum to the Make in India and Aatmanirbhar Bharat initiatives," he said in his address.

Prime Minister Narendra Modi delivers his first statement post the Union Budget 2026 announcement, calls it a strong push to India's growth trajectory.

PM Modi said this budget presents an ambitious roadmap for ‘Make in India’ and Atmanirbhar Bharat (self-reliant India).

Prime Minister Narendra Modi delivers his first statement post the Union Budget 2026 announcement, calls it a strong push to India's growth trajectory.

West Bengal CM Mamata Banerjee, while reacting to the mention of three corridors in the Budget, called it a garbage of lies.

She said, "...What they said about three corridors is absolutely garbage of lies. Blatant lies. It is already in process, and we have started working there. In the Jangalmahal Jangal Sundari project in Purulia, for this economic corridor, Rs 72,000 Crores are going to be invested..."

She blamed the Central government for not giving a 'single paisa' to Bengal, rather taking away the state's money. She said, "It is our money...So, they don't have any moral authority to run the Government and finish the country like this."

She claimed that the BJP-led Central government wants to destroy the economic structure of the country, the Constitutional structure of this country, and the independent agencies.

BJP MP Nishikant Dubey has also spoken on the negative sentiment in the stock markets after the Budget presentation. He said, "Share market doesn't decide much. Customs used to trouble air passengers. Several things have been made exempt and duty has been reduced from 20% to 10%. For aircraft manufacturing here, we have provided ample rebate on components. So, share market will react to it tomorrow. If it is 2000 points down right now, it will rise a little later. Since investment has to be brought in, banking sector reforms are there too. What you are pointing out in the share market is a matter of STT (Securities Transaction Tax). It is just a little pressure on players who play with loopholes in share market and it is due to STT. I think it will recover tomorrow."

Congress MP has reacted to the Budget and the subsequent market crash. "What can I say? Can we be happy if they are disappointed?" he told ANI.

The Income Tax Department has posted on X that Budget 2026-27 direct tax proposals reflect a continuing evolution of India's tax framework toward simplification and transparency. It has released FAQs to explain the key proposals and their impact in a simple manner.

These FAQs can be checked here.


BJP MP Dinesh Sharma has described the Budget 2026-27 as "aashaon ka budget". He said: "It is a far-sighted budget focusing on education, healthcare, infrastructure, railway, and tourism development. This Budget will lay the foundation of financial prosperity."

Congress MP Jairam Ramesh has criticised the Budget proposals. He posted on X: "While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes."

What Confederation of Indian Industry (CII) President Rajiv Memani said on Budget:

"Our reaction to the Budget is positive as it fulfills the demands of the industries, including those of the MSMEs. There is also a focus on the services. The government has also heard concerns about tax simplification. Capex has also increased by 10-12% this time."

Defence related proposals in the Budget

The Ministry of Defence has been allocated a budget of Rs 7.8 lakh crore for the year 2026-27. The defence forces will get Rs 2.19 lakh crore for modernisation.

It may be noted that the Defence Ministry has major projects in the pipeline, including the contracts for Rafale fighter jets, submarines and unmanned aerial vehicles.

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Dr Naresh Trehan, Chairman & MD, Medanta, has reacted to Budget proposals concerning the health sector. He said, "These are all strong steps in the right direction. India is moving towards eliminating communicable diseases. On the other hand, the burden of non-communicable diseases like cancer, obesity, and diabetes is increasing. The question comes: how do we take control of that part now? Developing biologics and biosimilars requires significant research, and this has been incentivised. Establishing a mental health institute is beneficial...."

How markets have reacted to Budget proposals:

The Sensex is currently trading at 81,553.48, down over 1,000 points.

Nifty 50 is at 25,069.70, down nearly 350 points.

How markets have reacted to Budget proposals:

The Sensex is currently trading at 81,553.48, down over 1,000 points.

Nifty 50 is at 25,069.70, down nearly 350 points.

To provide relief to patients, particularly those suffering from cancer, the FM has proposed to exempt basic customs duty on 17 drugs or medicines.

"I propose also to add 7 more rare diseases for the purposes of exempting import duties on personal import of drugs, medicines and food for special medical purposes used in their treatment," said the FM.

FM Nirmala Sitharaman says to rationalise the customs duty structure for goods imported for personal use, the government is proposing to reduce the tariff rate on all dutiable goods, imported for personal use, from 20% to 10%.

Govt's big push on data centres

FM Nirmala Sitharaman has proposed a tax holiday until 2047 for foreign companies that will offer cloud services globally using data centre infrastructure based in India.

"I propose providing a tax holiday until 2047 to any foreign company that offers cloud services to global customers using data centres located in India. However, such companies will be required to provide services to Indian customers through an Indian reseller entity," the FM announced.

Finance Minister Nirmala Sitharaman has concluded her Union Budget 2026-27 speech. The Lok Sabha has been adjourned till tomorrow.

The FM proposes to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing lithium-ion cells for battery energy storage systems also. She further proposes to exempt the basic customs duty on import of sodium antimonate for use in the manufacturing of solar glass.

The Modi government, in Budget 2026-27, proposes to increase the limit for duty-free imports of specified inputs used for processing sea foods for export from the current 1% to 3% of FOB value of the previous year's export turnover. It also proposes to allow duty-free imports of specified inputs, which is currently available for exports of leather or synthetic footwear to exports of shoe uppers as well.

Finance Minister Nirmala Sitharaman highlights that India’s disease burden is increasingly shifting towards non-communicable diseases. To strengthen India’s position as a global bio-pharma hub, the Budget proposes Biopharma Shakti, a new initiative with an outlay of ₹10,000 crore over five years aimed at boosting research, manufacturing, and innovation in the biotechnology and pharmaceutical sector. - FM

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FM Sitharaman proposes Biopharma SHAKTI with Rs 10,000 crore outlay

FM announces the Modi government will develop 7 high-speed rail corridors in the country as part of efforts to boost connectivity and infrastructure.

"In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri."

Additional corridors are also planned to further strengthen regional connectivity and economic growth across the country under the Union Budget 2026-27.

Seven high-speed rail corridors announced to link major cities


FM Nirmala Sitharaman proposes to extend the time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee. She also proposes to stagger the timeline for filing of tax returns - individuals with ITR 1 and ITR 2 will continue to file till 31st July, and non-audit business cases or trusts are proposed to be allowed time till 31st August.

Key economy numbers

*Debt to GDP ratio is estimated to be 55.6% of GDP

*In FY 2026-27, the fiscal deficit is seen at 4.3% of the GDP

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Key economy numbers

*Debt to GDP ratio is estimated to be 55.6% of GDP

*In FY 2026-27, the fiscal deficit is seen at 4.3% of the GDP

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The FM proposes a scheme for small taxpayers wherein a rule-based automated process will enable obtaining a lower or nil deduction certificate instead of filing an application with the assessing officer.

For the ease of taxpayers holding securities in multiple companies, the government will allow depositories to accept Form 15G or Form 15H from the investor and provide it directly to various relevant companies.

Nirmala Sitharaman announces multilingual AI tool to enhance farmers' activity. She said, "Bharat Vistar - Virtually Integrated System to access Agricultural Resources. I propose to launch Bharat Vistar, a multilingual AI tool that shall integrate the agri-stack portals and the ICAR package on agricultural practices with AI systems."

Suatainable tourism initiatives

The government proposes to develop ecologically sustainable mountain trails in Himachal Pradesh, Uttarakhand and Jammu & Kashmir, and also in Araku Valley in Eastern Ghats and also Western Ghats.

"Turtle trails along key nesting sites in Odisha, Karnataka and Kerala will also be developed," says FMthe .

The FM further proposes that any interest awarded by the motor accident claims tribunal to a natural person will be exempt from income tax, and any TDS on this account will be done away with.

TCS rate on the sale of overseas tour programme package proposed to be reduced from the current 5% and 20%, to 2% without any stipulation of amount.

Budget 2026-27: Sitharaman proposes to reduce TCS rate for pursuing education and for medical purposes under the liberalised remittance scheme, popularly known as LRS, from 5% to 2%.

Finance Minister Nirmala Sitharaman says the Government has accepted the 16th Finance Commission recommendations to retain the vertical share of devolution at 41%.

"I have allocated Rs 1.4 lakh crores for states for FY 2026-27."

Union FM Nirmala Sitharaman: "The Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India Mission to transform the Sports sector over the next decade."


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Aimed at better mental health treatment, especially in North India, Nirmala Sitharaman said that the government will set up Nimhans 2.0 to cater to mental health cases.

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The government plans to operationalise 20 new national waterways over the next five years.

  1. Training institutes will be set up as regional institutes of excellence in waterways space.
  2. Ship repair ecosystem catering to inland waterways will be set up in Varanasi and Patna.
  3. The government also plans to launch a coastal cargo scheme to increase the share of coastal shipping and inland waterways.

FM proposes to establish a new National Institute of Design in the Eastern region of India.

Aimed at better mental health treatment, especially in North India, Nirmala Sitharaman said that the government will set up Nimhans 2.0 to cater to mental health cases.

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FM Nirmala Sitharaman proposes setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection.

Union Finance Minister Nirmala Sitharaman says, "To promote India as a medical tourism hub, I propose a scheme to support states to set up 5 regional hubs in the country."

Sitharaman proposes to set up three new All India Institutes of Ayurveda, upgrade Ayush pharmacies and drug testing labs, and make available more skilled persons. The WHO Global Traditional Medicine Centre in Jamnagar will also be upgraded.

Union FM Nirmala Sitharaman: "The Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India Mission to transform the Sports sector over the next decade."


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Finance Minister Nirmala Sitharaman says, "I propose multiple steps towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sector. A girls hostel will be built in every district of the country."

Union Finance Minister @nsitharaman proposed multiple steps in towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sectorviksitbharatbudget budget2026 pic.twitter.com/fESnKcKGii

— PIB India (@PIB_India) February 1, 2026


Finance Minister Nirmala Sitharaman says, "I propose multiple steps towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sector. A girls hostel will be built in every district of the country."

Union Finance Minister @nsitharaman proposed multiple steps in towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sectorviksitbharatbudget budget2026 pic.twitter.com/fESnKcKGii

— PIB India (@PIB_India) February 1, 2026


FM Sitharaman proposes interventions in six areas to accelerate and sustain economic growth: scaling up manufacturing in 7 strategic sectors; rejuvenating legacy industrial sectors; creating champion MSMEs; delivering a push for infra; ensuring long-term security and stability; developing city economic regions.

Govt has proposed an integrated program with five sub-parts for the labour-intensive textile sector:


  1. National Fibre Scheme
  2. Textile Expansion and Employment Scheme
  3. National Handloom and Handicraft Programme
  4. Text-ECON Initiative
  5. SAMARTH 2.0

FM says MSMEs are a vital engine of growth, and proposes a three-pronged approach to help them grow as ‘Champions’:

  1. Equity support
  2. Liquidity support
  3. Professional support

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FM says MSMEs are a vital engine of growth, and proposes a three-pronged approach to help them grow as ‘Champions’:

  1. Equity support
  2. Liquidity support
  3. Professional support

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India’s Animation, Visual Effects, Gaming and Comics sector is a growing industry, projected to require 2 million professionals by 2030. I propose to support the Indian Institute of Creative Technologies, Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges - Union Finance Minister

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India’s Animation, Visual Effects, Gaming and Comics sector is a growing industry, projected to require 2 million professionals by 2030. I propose to support the Indian Institute of Creative Technologies, Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges - Union Finance Minister

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We will continue to develop infrastructure in cities with over 5 lakh population, that is, tier 2 and tier 3 cities. – FM

We will continue to develop infrastructure in cities with over 5 lakh population, that is, tier 2 and tier 3 cities. – FM

Several initiatives by the Government for large-scale enhancement of public infrastructure, the Government will continue to focus on developing infrastructure in cities with over 5 lakh population (Tier II and Tier III), which have expanded to become growth centres

- Union… pic.twitter.com/zgiVaa2MSc

— PIB India (@PIB_India) February 1, 2026


FM announces the Modi government will develop 7 high-speed rail corridors in the country as part of efforts to boost connectivity and infrastructure.

"In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri."

Additional corridors are also planned to further strengthen regional connectivity and economic growth across the country under the Union Budget 2026-27.

Budget 2026: FM proposes scheme to revive 200 legacy industrial clusters in FY27 budget.

New dedicated freight corridor from Dankuni in East to Surat in West to promote environmentally sustainable movement of cargo - FM Sitharaman

"I propose to establish new dedicated freight corridors connecting Dankuni in the East to Surat in the West. Operationalise 20 new national waterways over the next five years. Starting with National Waterways 5 in Odisha to connect mineral-rich areas of Talcher and Angul and industrial centers like Kalinganagar to the ports of Paradip and Dhamra. Training institutes will be set up as regional centers of excellence for the development of required manpower for these waterways. This will benefit youth in the entire stretch of the waterways to train and acquire skills. Further, a ship repair ecosystem catering to inland waterways will also be set up at Varanasi and Patna."

New dedicated freight corridor from Dankuni in East to Surat in West to promote environmentally sustainable movement of cargo - FM Sitharaman

"I propose to establish new dedicated freight corridors connecting Dankuni in the East to Surat in the West. Operationalise 20 new national waterways over the next five years. Starting with National Waterways 5 in Odisha to connect mineral-rich areas of Talcher and Angul and industrial centers like Kalinganagar to the ports of Paradip and Dhamra. Training institutes will be set up as regional centers of excellence for the development of required manpower for these waterways. This will benefit youth in the entire stretch of the waterways to train and acquire skills. Further, a ship repair ecosystem catering to inland waterways will also be set up at Varanasi and Patna."

FM proposes setting up mega textile parks with a focus on value addition to technical textiles.

"I propose to set up mega textile parks in challenge mode. I propose to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi and handloom."

This is the first Budget prepared in Kartavya Bhawan. Our Kartavaya is to accelerate and sustain economic growth, fulfil aspirations of people. Our Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities - FM

"Our government's 'sankalp' is to focus on our poor, underprivileged and the disadvantaged. To deliver on this 'sankalp' and given that this is the first Budget prepared in Kartavya Bhavan, we are inspired by three 'Kartavya'. Our first 'Kartavya' is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. Our second 'Kartavya' is to fulfill the aspirations of our people and build their capacity, making them strong partners in India's path to prosperity. Our third 'Kartavya', aligned with our vision of 'Sabka Sath, Sabka Vikas', is to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation."

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Finance Minister Nirmala Sitharaman highlights that India’s disease burden is increasingly shifting towards non-communicable diseases. To strengthen India’s position as a global bio-pharma hub, the Budget proposes Biopharma Shakti, a new initiative with an outlay of ₹10,000 crore over five years aimed at boosting research, manufacturing, and innovation in the biotechnology and pharmaceutical sector. - FM

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We will continue to develop infrastructure in cities with over 5 lakh population, that is, tier 2 and tier 3 cities. – FM

FM announces the Modi government will develop 7 high-speed rail corridors in the country as part of efforts to boost connectivity and infrastructure.

"In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri."

Additional corridors are also planned to further strengthen regional connectivity and economic growth across the country under the Union Budget 2026-27.

Seven high-speed rail corridors announced to link major cities


Capital expenditure set at Rs 12.2 lakh crore for fiscal year 2026-27 - FM Nirmala Sitharaman

FM Sitharaman announces the launch of India Semiconductor Mission 2.0 as part of the Union Budget 2026-27. Key highlights include focus on industry-led research and training centres for semiconductors ; increased outlay of ₹40,000 crore to capitalise on the momentum of the semiconductor mission; launch of a scheme to help states establish three dedicated chemical parks through a challenge route, boosting domestic manufacturing capabilities.

This is the first Budget prepared in Kartavya Bhawan. Our Kartavaya is to accelerate and sustain economic growth, fulfil aspirations of people. Our Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities - FM

"Our government's 'sankalp' is to focus on our poor, underprivileged and the disadvantaged. To deliver on this 'sankalp' and given that this is the first Budget prepared in Kartavya Bhavan, we are inspired by three 'Kartavya'. Our first 'Kartavya' is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. Our second 'Kartavya' is to fulfill the aspirations of our people and build their capacity, making them strong partners in India's path to prosperity. Our third 'Kartavya', aligned with our vision of 'Sabka Sath, Sabka Vikas', is to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation."

Sitharaman proposes to support mineral-rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish critical mineral facilities.

*FM proposes to increase outlay on electronic manufacturing to Rs 40,000 cr in FY27 Budget

*FM proposes setting up of 3 dedicated chemical parks to enhance domestic production, reduce import dependency

Budget 2026-27 proposes a scheme for container manufacturing to create an internationally competitive ecosystem with a budgetary allocation of Rs 10,000 crore over five years.

Budget 2026-27 proposes a scheme for container manufacturing to create an internationally competitive ecosystem with a budgetary allocation of Rs 10,000 crore over five years.

FM announces a scheme for the enhancement of construction and infrastructure equipments will be introduced to strengthen domestic manufacturing.

FM proposes setting up mega textile parks with a focus on value addition to technical textiles.

"I propose to set up mega textile parks in challenge mode. I propose to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi and handloom."

Finance Minister Nirmala Sitharaman highlights that India’s disease burden is increasingly shifting towards non-communicable diseases. To strengthen India’s position as a global bio-pharma hub, the Budget proposes Biopharma Shakti, a new initiative with an outlay of ₹10,000 crore over five years aimed at boosting research, manufacturing, and innovation in the biotechnology and pharmaceutical sector. - FM

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FM Sitharaman proposes Biopharma SHAKTI with Rs 10,000 crore outlay

FM Sitharaman proposes interventions in six areas to accelerate and sustain economic growth: scaling up manufacturing in 7 strategic sectors; rejuvenating legacy industrial sectors; creating champion MSMEs; delivering a push for infra; ensuring long-term security and stability; developing city economic regions.

FM highlights Aatmanirbhar policy thrust

"Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security, and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power, and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make susbstantial strides in poverty reduction and improvement in the lives of our people."

We have pursued far-reaching structural reforms. Fiscal prudence and monetary stability, while maintaining a strong thrust on public investment, keeping self-reliance as a pillar. We have built domestic manufacturing capacity, energy security and reduced critical import dependencies - FM

The Modi government will ensure that dividends of growth reach every farmer, Scheduled Castes, Scheduled Tribes, and the youth - Nirmala Sitharaman

India today faces an external environment where trade and multilateralism is imperative - Sitharaman

Our government has chosen reforms over rhetoric. India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion - FM

India must remain deeply integrated with global markets, exporting more and attractive more stable long-term investment - FM

This is the first Budget prepared in Kartavya Bhawan. Our Kartavaya is to accelerate and sustain economic growth, fulfil aspirations of people. Our Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities - FM

This is the first Budget prepared in Kartavya Bhawan. Our Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities - FM

This is the first Budget prepared in Kartavya Bhawan. Our Kartavaya is to accelerate and sustain economic growth, fulfil aspirations of people. Our Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities - FM

"Our government's 'sankalp' is to focus on our poor, underprivileged and the disadvantaged. To deliver on this 'sankalp' and given that this is the first Budget prepared in Kartavya Bhavan, we are inspired by three 'Kartavya'. Our first 'Kartavya' is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. Our second 'Kartavya' is to fulfill the aspirations of our people and build their capacity, making them strong partners in India's path to prosperity. Our third 'Kartavya', aligned with our vision of 'Sabka Sath, Sabka Vikas', is to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation."

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Since the Modi government came to power 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions - FM Sitharaman

Finance Minister Nirmala Sitharaman has started presenting the Union Budget 2026-27 in the Lok Sabha.

What Abhishek Banerjee said on the Budget

TMC MP Abhishek Banerjee has reached Parliament for the presentation of the Union Budget 2026-27. He said, "Let us hear the Budget. I can't talk of my expectations or any other comments without listening to the Budget."

The Union Cabinet has approved the Union Budget 2026-2027 ahead of its presentation in parliament shortly.

What Congress leaders said on Union Budget

MP Priyanka Gandhi Vadra said she does not "have much expectations, but let's see".

Manish Tewari highlighted persisting issues. He said, "There are structural problems in the Indian economy which have not been addressed in a decade. Private capital investment has not kicked in, foreign direct investment has declined. I hope the finance minister will recognise the structural inequities in the Indian economy and would be honest enough to address it."

More on Budget expectations

IMC Chamber of Commerce and Industry Co-Chairman, Dr Navin Mukesh Punjabi, wants the Budget 2026-27 to focus on skilling.

"The expectations are that India will focus on skilling. The industry expects SOPs to be provided in the form of CSR. India is also expected to shed some light on defence this time. The private sector spending on defence needs more clarification. There could be some rationalisation for the common man to be happy. Due to the uncertainty around tariffs, the government may want to provide support to MSMEs, such as production-linked incentives or a temporary infusion."

Deform Budget: Akhilesh

Samajwadi Party MP Akhilesh Yadav has said he does not have much expectations from the Union Budget 2026-27.

"This is 'deform budget', not reforms budget... This Budget is for 5% of the country's population," Akhilesh said.

More on Budget expectations

IMC Chamber of Commerce and Industry Co-Chairman, Dr Navin Mukesh Punjabi, wants the Budget 2026-27 to focus on skilling.

"The expectations are that India will focus on skilling. The industry expects SOPs to be provided in the form of CSR. India is also expected to shed some light on defence this time. The private sector spending on defence needs more clarification. There could be some rationalisation for the common man to be happy. Due to the uncertainty around tariffs, the government may want to provide support to MSMEs, such as production-linked incentives or a temporary infusion."

Artist creates charcoal sketch ahead of Budget presentation


An artist from Amroha, Uttar Pradesh, created a charcoal sketch ahead of the presentation of Union Budget 2026.

Industry body flags defence and infra investment


Ajit Mangrulkar said increased spending on infrastructure, technology and defence is expected, while major changes in personal taxation are unlikely.

Mumbai industry body expects growth-oriented Budget


IMC Chamber of Commerce and Industry Director General Ajit Mangrulkar said expectations are positive, with focus likely on growth, infrastructure and technology.

Kiren Rijiju terms Budget historic


Union Minister Kiren Rijiju said the Budget will be historic and aligned with the Prime Minister’s vision of moving towards Viksit Bharat.

Shivraj Singh Chouhan calls Budget one for Viksit Bharat


Union Minister Shivraj Singh Chouhan described the Budget as one aimed at building a “Viksit aur Aatmanirbhar Bharat”.

Artist creates charcoal sketch ahead of Budget presentation


An artist from Amroha, Uttar Pradesh, created a charcoal sketch ahead of the presentation of Union Budget 2026.

Tourism advisor flags infrastructure push in Siliguri region


Raj Basu, Advisor for Tourism to the governments of Arunachal Pradesh and Sikkim, said infrastructure upgrades around Siliguri reflect focus on connectivity ahead of the Budget. He said rural regions receive limited budget allocation and stressed the need to prioritise entrepreneurship-based skill development and border tourism.

Bihar minister outlines expectations from Union Budget 2026


Bihar Minister Dilip Jaiswal said the Union Budget will focus on domestic consumption, MSMEs and women’s empowerment, adding that employment will rise with a push for “vocal for local”.

Latest GST numbers

Goods and Services Tax (GST) collections in January 2026 have been reported at Rs 1,93,384 crore, marking a robust 6.2% growth over the same month last year, ANI has reported government sources as saying.

FM reaches Parliament to present Budget

Nirmala Sitharaman and MoS Finance Pankaj Chaudhary, along with their team, have reached Parliament to present the Union Budget 2026-27. The Budget speech will start after the Lok Sabha convenes at 11 am.

https://twitter.com/i/status/2017815258388402547

What's happening in stock markets?

Ahead of Budget 2026-27, Sensex is trading at 82,353.77, down over 200 points from Friday's close. NSE is at 25,328.70, up over 8 points. The markets are open today for the Budget.

Latest GST numbers

Goods and Services Tax (GST) collections in January 2026 have been reported at Rs 1,93,384 crore, marking a robust 6.2% growth over the same month last year, ANI has reported government sources as saying.

FM reaches Parliament to present Budget

Nirmala Sitharaman and MoS Finance Pankaj Chaudhary, along with their team, have reached Parliament to present the Union Budget 2026-27. The Budget speech will start after the Lok Sabha convenes at 11 am.

https://twitter.com/i/status/2017815258388402547

FM meets President Murmu

Union Finance Minister Nirmala Sitharaman, along with her team, calls on President Droupadi Murmu before presenting the Union Budget.

President Murmu wishes FM Sitharaman for Budget presentation and gives her customary 'dahi-cheeni' (curd and sugar).

https://twitter.com/i/status/2017814491145396631

Latest GST numbers

Goods and Services Tax (GST) collections in January 2026 have been reported at Rs 1,93,384 crore, marking a robust 6.2% growth over the same month last year, ANI has reported government sources as saying.

Union Finance Minister Nirmala Sitharaman, along with her team, calls on President Droupadi Murmu before presenting the Union Budget.

President Murmu wishes FM Sitharaman for Budget presentation and gives her customary 'dahi-cheeni' (curd and sugar).

https://twitter.com/i/status/2017814491145396631

Nirmala Sitharaman and MoS Finance Pankaj Chaudhary, along with their team, have reached Parliament to present the Union Budget 2026-27. The Budget speech will start after the Lok Sabha convenes at 11 am.

https://twitter.com/i/status/2017815258388402547

FM reaches Parliament to present Budget

Nirmala Sitharaman and MoS Finance Pankaj Chaudhary, along with their team, have reached Parliament to present the Union Budget 2026-27. The Budget speech will start after the Lok Sabha convenes at 11 am.

https://twitter.com/i/status/2017815258388402547

Union Finance Minister Nirmala Sitharaman, along with her team, calls on President Droupadi Murmu before presenting the Union Budget.

President Murmu wishes FM Sitharaman for Budget presentation and gives her customary 'dahi-cheeni' (curd and sugar).

FM meets President Murmu

Union Finance Minister Nirmala Sitharaman, along with her team, calls on President Droupadi Murmu before presenting the Union Budget.

President Murmu wishes FM Sitharaman for Budget presentation and gives her customary 'dahi-cheeni' (curd and sugar).

https://twitter.com/i/status/2017814491145396631

Union Budget 2026 to be presented in Lok Sabha around 11 am


The Union Budget 2026 will be presented by Finance Minister Nirmala Sitharaman in the Lok Sabha at around 11 am today.

FM Sitharaman seen with Budget tablet outside Finance Ministry


Finance Minister Nirmala Sitharaman was seen with her team holding the Budget tablet outside the Ministry of Finance in Delhi.

FM Sitharaman arrives at Kartavya Bhavan ahead of Budget presentation


Union Finance Minister Nirmala Sitharaman has arrived at Kartavya Bhavan ahead of the presentation of Union Budget 2026–27 in Parliament.


FM Sitharaman leaves residence ahead of Union Budget presentation


Union Finance Minister Nirmala Sitharaman departed from her residence ahead of the presentation of Union Budget 2026.

MoS Pankaj Chaudhary accompanies FM to Kartavya Bhavan


Minister of State for Finance Pankaj Chaudhary accompanied the Finance Minister to Kartavya Bhavan.

Finance Ministry now operates from Kartavya Bhavan


The Ministry of Finance is currently headquartered at Kartavya Bhavan on Janpath.

North Block no longer houses Finance Ministry


The Finance Ministry, earlier located at North Block, has shifted operations to Kartavya Bhavan.

Budget to be presented on a Sunday for the first time


This is the first time since Independence that the Union Budget is being presented on a Sunday.

Budget marks 15th Budget of the Modi government


This will be the 15th Union Budget of the Narendra Modi-led government and the second full Budget of its third term.

Impact of US tariffs and market pressures noted ahead of Budget


Punitive tariffs imposed by the United States on Indian goods have unsettled markets and contributed to foreign investor outflows and a weak rupee.

Domestic demand resilient, inflation moderated


Despite global pressures, domestic demand has remained resilient and inflation has moderated from recent peaks.

Fiscal space constrained after tax cuts


Earlier income tax and GST cuts have reduced government revenues, narrowing fiscal space ahead of the Budget.

Economists flag focus areas for Budget 2026–27


Economists expect the Budget to focus on defence, infrastructure, capital expenditure, power and affordable housing.

Fiscal consolidation path likely to continue


Experts say the government is expected to maintain its fiscal consolidation path without major deviation.

Fiscal deficit reduced steadily since Covid peak


The fiscal deficit has declined from 9.2 per cent during the Covid period to an estimated 4.4 per cent in FY26.

Consumption push expected to be more targeted


Unlike the previous Budget, the consumption push in FY27 is expected to be more targeted, economists say.

Union Budget size estimated at Rs 54.1 lakh crore


The Union Budget for FY2026–27 is estimated at Rs 54.1 lakh crore, according to a report by Sunidhi Securities & Finance Limited.

Total expenditure projected to grow 7.9 per cent


Total expenditure for FY27 is projected to grow 7.9 per cent year-on-year, the report said.

Expenditure to moderate as share of GDP


Total expenditure is projected to moderate to about 13.8 per cent of GDP in FY27.

Fiscal deficit target projected at 4.16 per cent of GDP


The fiscal deficit for FY27 is projected at 4.16 per cent of GDP, or Rs 16.37 lakh crore, the report said.

Real GDP growth estimated at 7.4 per cent for FY26


India’s real GDP growth for FY26 is estimated at 7.4 per cent, according to the Central Statistical Office.

GST reforms cited as boost to urban demand


GST reforms implemented last year have contributed to a recovery in urban demand in the second half of FY26.

Nominal GDP growth remains subdued


Nominal GDP growth is estimated at around 8 per cent, the slowest in nearly six years, impacting tax buoyancy.

Budget session to continue till April 2


The Budget session will span 30 sittings over 65 days and conclude on April 2. Parliament will adjourn for a recess on February 13 and reconvene on March 9 to allow standing committees to examine the Demands for Grants of various ministries and departments.

Inflation eased during April–December 2025


Piyush Goyal also noted that inflation stood at 1.7 per cent during April–December 2025, largely due to a contraction in food prices for key commodities such as vegetables and pulses.

Economic Survey projects 7.4% GDP growth


Referring to the Economic Survey 2025–26, Union Minister Piyush Goyal said the First Advance Estimates project real GDP growth at 7.4 per cent for FY 2025–26, marking India as the fastest-growing major economy for the fourth consecutive year.

Why the Economic Survey matters


The Economic Survey is the government’s official annual assessment of the economy. It reviews economic performance over the past year and provides the context for policy decisions announced in the Budget.

Economic Survey tabled ahead of Budget


On Thursday, the Finance Minister tabled the Economic Survey of India for the financial year 2025–26 in Parliament, following the long-standing practice of presenting the Survey ahead of the Union Budget.

Ninth consecutive Budget for Nirmala Sitharaman


Today’s presentation will mark Finance Minister Nirmala Sitharaman’s ninth consecutive Union Budget.

Finance Bill 2026 to be introduced in Lok Sabha


The List of Business also states that the Finance Minister will move for leave to introduce the Finance Bill, 2026, and formally place it before the House. The Finance Bill gives legal effect to the government’s financial proposals.

Key fiscal statements to be tabled with the Budget


Along with the Budget, the Finance Minister will lay two statements under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These include the Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-economic Framework Statement.

What the Union Budget 2026 will outline


The Budget will present a statement of the estimated receipts and expenditure of the Government of India for the financial year 2026–27.

Lok Sabha to meet at 11 am for Budget presentation


According to the Lok Sabha List of Business, the House is scheduled to meet at 11 am, when the Union Budget will be taken up for presentation.

Union Budget 2026 to be presented in Lok Sabha today

Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026–27 in the Lok Sabha today as part of the ongoing Budget session of Parliament.

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