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First Budget after Operation Sindoor, defence gets huge push for modernisation

The Union Budget has raised defence capital spending to ₹5.95 lakh crore from ₹4.92 lakh crore last year, marking a 22% increase, while funds specifically for modernisation have been boosted by 24%.

No relief for income tax payers

Taxpayers who will navigate the new Income Tax Act from April 1 should expect tax rebates or Standard Deduction changes. Sitharaman announced a tax holiday - till 2047 - to any foreign company providing cloud services by setting up data centres in India and proposed a simplified tax regime for corporates. She also announced a rationalisation of the prosecution framework under the new Income Tax Act.

Budget charts clear roadmap for Viksit Bharat: PM Modi

Terming the Union Budget as ‘historic’, he said it reflected the aspirations of 140 crore Indians, presented an ambitious roadmap to give new push to Make in India, Aatmanirbhar Bharat initiatives

Bloodbath on Dalal Street

Sensex crashes 2,300 pts; Nifty below 25,000 after Sitharaman raises STT on futures

‘Tax holiday’ for foreign cloud firms

The Finance Minister proposed to provide a ‘tax holiday’ until 2047 to all such foreign companies that provide data cloud services to Indian citizens from data centres in the country.

Exemption of basic duties on components required in solar and aircraft industries

There will be provision of exemption of basic duty on import of components and parts required for the manufacturing of aircraft, as well as their maintenance and repair, said FM Sitharaman in her Budget speech, adding that there will also be exemption of basic duties on components required to create solar cells and panels.

Govt to set up high-powered ‘Education to Employment’ panel to assess AI impact on jobs

FM Sitharaman announced the setting-up of an Education to Employment and Enterprises Standing Committee to assess the impact of emerging technologies, including artificial intelligence, on jobs and skill requirements and strengthen employment opportunities. Sitharaman said the services sector holds the potential to position India as a global leader, with a target of achieving a 10 per cent share in the global services market by 2047. She said the committee will prioritise key areas to optimise the potential for growth, employment generation, and exports. Based on its assessment, the committee will propose measures to ensure that the workforce is equipped to adapt to technological changes. "They will also assess the impact of emerging technologies, including AI, on jobs and skill requirements and propose measures thereof," she said.

Kept my promise of reducing fiscal deficit: FM

Finance Minister Nirmala Sitharaman said she had been successful in reducing the country’s fiscal deficit to 4.3 per cent of the GDP for 2026-27.

16th Finance Commission recommendations on state-sharing of revenue pool retained

The government has decided to retain the 41 per cent share of states in Centre’s revenue-sharing pool, said FM Nirmala Sitharaman in her Union Budget speech.

Mental health care via NIMHANS 2

NIMHANS 2 to come up for specialised mental health and trauma care, said Finance Minister Nirmala Sitharaman. Hospitals to also get updated emergency and trauma care centres, she added.

India to host first ever 'Big Cat' summit

https://twitter.com/PTI_News/status/2017832958737215656

New National Institute of Design in eastern India

Design study to be upgraded with the establishment of design schools, including one in eastern India

Special geriatric care and medical tourism to get a boost

Five regional medical hubs to be established to encourage medical tourism in the country, said the FM. These will amp-up job opportunities for medical care-givers. Three new, state-of-the-art Ayurvedic institutes to come up.

Outlay on electronics manufacturing to be increased to ₹40,000 crore in FY27

Finance Minister Nirmala Sitharaman proposed to increase the outlay on electronics manufacturing to ₹40,000 crore in the 2026-27 fiscal year, which includes setting up high-tech tool rooms at two locations to give push to capital goods manufacturing. Sitharaman also proposed a scheme for container manufacturing to create globally competitive ecosystem. Three dedicated chemical parks will also be set up to enhance domestic production, reduce import dependency, she added.

₹10,000-crore budget for SME growth Fund: FM

Finance Minister Nirmala Sitharaman, in her Union Budget speech, talked of the government’s special focus on small and medium enterprises that includes a ₹10,000-crore budget for SMEs. Other major sectors that she mentioned are the handloom industry (including textiles, weaving, artisanal industries) and mining, especially rare earth mining. Sports good manufacturing will also receive a major boost.

FM lists major strategic reforms

In her Union Budget 2026 speech, Finance Minister Nirmala Sitharaman listed out major areas that her government will focus on in the coming year, including: Scaling up manufacturing in 7 strategic sectors; rejuvenating industrial sectors; infrastructure push; enhance long-term security and develop City Economic Zones.

FM begins her Parliamentary Budget speech for 2026-27

Finance Minister Nirmala Sitharaman begins her Union Budget speech for 2026-27, talks of the NDA government’s “far-reaching structural reforms”.

Cabinet approves Union Budget 2026-27

The Union Cabinet headed by Prime Minister Narendra Modi on Sunday approved the Union Budget 2026-27. Following the approval, Finance Minister Nirmala Sitharaman will present her ninth record Budget in the Lok Sabha that comes in the backdrop of global uncertainties and slowdown in exports. This is the third Budget of the BJP-led NDA government in its third term in office.

FM dons Kanjeevaram saree from TN; A lowdown on all the sarees she wore these past nine years for her Budget speeches

FM Nirmala Sitharaman will table the ninth Union Budget 2026 in a Kattam Kanjeevaram silk saree from Tamil Nadu, representing the state’s rich cultural legacy. The minister’s magenta saree has golden-coloured kattam (checks) and a coffee brown border with intricate threadwork. She has paired it with a plain yellow blouse. Kanjeevaram sarees are worn on special occasions, such as weddings. Weavers in Kancheepuram often draw inspiration from the rich temple architecture to design the sarees. The silk weaving tradition in the state goes back to the Chola period (9th-13th centuries). Last year, Sitharaman wore a cream-coloured handloom saree with Madhubani motifs of fish, presented to her by 2021 Padma Shri awardee Dulari Devi, who hails from a Dalit fishing community. In 2019, the FM wore a pink Mangalgiri silk saree with gold borders for her Budget speech. In 2020, she had donned a yellow silk saree with green-lined borders. And in 2021, she chose a red and off-white Pochampally silk saree from Telangana. In 2022, Sitharaman opted for a brown and maroon-colored Bomkai saree from Odisha. In 2023, she wore a red silk saree with Black Kasturi embroidery, made in Karnataka. In 2024, she had on a blue Tussar silk saree with Kantha embroidery from West Bengal while presenting the interim Budget. For the Union Budget that year, she put on a white-coloured silk saree with magenta-coloured borders and golden motifs. The Budget session will span 30 sittings over 65 days, concluding on April 2. The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departments.

President Droupadi Murmu offers dahi cheeni to Finance Minister Nirmala Sitharaman before the latter presents the Union Budget 2026-27 in the Lok Sabha, in New Delhi.

Finance Minister Nirmala Sitharaman arrives at the Parliament to attend the Cabinet meeting ahead of presenting the Budget 2026-27

Finance Minister Nirmala Sitharaman arrived at the Parliament to attend the Cabinet meeting ahead of presenting the Budget 2026-27 in Lok Sabha. The Union Cabinet, headed by Prime Minister Narendra Modi, will approve the Union Budget 2026-27 in Parliament. Sitharaman, who met President Murmu in a customary trend before heading to the Parliament, is set to present her ninth consecutive Union Budget, this time for the financial year 2026-27. According to the List of Business, the Lower House will meet at 11 am and Sitharaman will present a statement of the estimated receipts and expenditure of the Government of India for the year 2026-27. She will also lay on the table 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. The List of Business further states that Sitharaman will move for leave to introduce the Finance Bill, 2026, in the Lok Sabha.

FM Sitharaman meets President Murmu for a customary pre-Budget presentation meeting

Having reached the Rashtrapati Bhavan before heading to Parliament, FM Sitharaman called on President Droupadi Murmu as per established norm. The minister has donned a magenta silk saree today. She also posed with her Budget team in front of her office at Kartavya Bhavan. Following the meeting, she headed for a Cabinet meeting that will formally approve the Budget for 2026-27.

Stock markets remain in narrow range; gold and silver prices hit lower circuit

Gold and silver prices remained in the lower range of the circuit ahead of the Union Budget presentation, after yesterday’s crash. In a first, stock markets will also remain open on Sunday, February 1. Benchmark indices remained fluctuating in a narrow range in early trade.

Sitharaman leaves for Rashtrapati Bhavan with ‘Digital Bahi-Khata’ ahead of Union Budget presentation

Union Finance Minister Nirmala Sitharaman left from Kartavya Bhavan for Rashtrapati Bhavan carrying her trademark ‘bahi-khata’, a paperless form of Budget presentation, as has been her tradition since the past four years. Sitharaman carries a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it when presenting the Budget. Union Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V Anantha Nageswaran, Chairman of the Central Board of Direct Taxes (CBDT) Ravi Agrawal and other officials of the Finance Ministry were seen accompanying the Finance Minister.

Finance Minister Nirmala Sitharaman arrives at Kartavya Bhawan

Finance Minister Nirmala Sitharaman arrives at Kartavya Bhawan ahead of Union Budget

Union Finance Minister Nirmala Sitharaman and MoS Pankan Chaudhari have arrived at the Kartavya Bhawan on Sunday ahead of the presentation of the Union Budget 2026-27 in the Lok Sabha during the ongoing Budget session of Parliament.

Indian economy to grow at 7.4 pc in FY 2025-26: Goyal

Referring to the Economic Survey 2025-26, Union Minister Piyush Goyal noted that the First Advance Estimates project real GDP growth at 7.4 per cent for the Financial Year (FY) 2025-26, reinforcing India’s position as the fastest-growing major economy for the fourth consecutive year. “The Indian economy has sustained strong momentum, with the First Advance Estimates projecting real GDP growth at 7.4 per cent for FY 2025-26. This underscores India’s position as the fastest-growing major economy for the 4th consecutive year,” Piyush Goyal wrote on X on Thursday. Goyal noted that India recorded an inflation rate of 1.7 per cent during April-December 2025, largely due to a contraction in food prices for key commodities like vegetables and pulses, demonstrating effective inflation management by the government. He also emphasised the government's focus on strengthening manufacturing, describing the progression from 'Swadeshi' to 'Strategic Resilience' and now 'Strategic Indispensability', aimed at promoting confidence in 'buying Indian without thinking'. The Budget session will span 30 sittings over 65 days, concluding on April 2. The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departments.

Break from tradition: FM to address Part B of the speech first

In what is being seen as a big break from tradition, for the first time in 75 years, the finance minister is expected to begin her speech with Part B, which usually deals with tax and policy announcements. As she reveals the roadmap for India’s economic future, Part A – the more substantial part of the speech – will be relegated to the last as Sitharaman lists out short-term priorities and long-term goals in the second quarter of the 21st century.

The Finance Minister will also lay on the table 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. The List of Business further states that Sitharaman will move for leave to introduce the Finance Bill, 2026, in the Lok Sabha. She will also formally introduce the Bill. The Finance Bill gives legal effect to the financial proposals of the government.