- News
- Business News
- India Business News
- Budget 2026 Live Updates: 10 key things individual taxpayers should know
THE TIMES OF INDIA | Feb 02, 2026, 22:14:12 IST
Comments
Share
Budget 2026 Live Updates: 10 key things individual taxpayers should know
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026–27 in the Lok Sabha on Sunday, marking her record ninth consecutive Budget presentation. The Budget aims to boost capital expenditure, strengthen domestic manufacturing, promote technology and infrastructure development, and maintain fiscal discipline. The government has raised the capital expenditure target to Rs 12.2 lakh crore for FY27, up from Rs 11.2 lakh crore, while the fiscal deficit is projected to narrow slightly to 4.3 per cent of GDP. Net tax receipts are estimated at Rs 28.7 lakh crore, and the total size of the Budget is pegged at Rs 53.5 lakh crore.
Key initiatives include the launch of ISM 2.0 to strengthen semiconductor manufacturing and supply chains, an increase in the Electronics Components Manufacturing Scheme outlay to Rs 40,000 crore, and support for rare earth corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. The government also announced the establishment of chemical parks in states through a cluster-based plug-and-play model and plans for seven environmentally sustainable passenger rail corridors, along with a dedicated east–west freight corridor.
The new Income Tax Act, 2025, will come into effect from April 1, with rules and return forms to be notified soon. On Budget day, gold and silver prices saw sharp corrections amid volatile commodity markets. Overall, the Budget seeks to enhance economic resilience, reduce import dependence, and promote long-term growth.
Key initiatives include the launch of ISM 2.0 to strengthen semiconductor manufacturing and supply chains, an increase in the Electronics Components Manufacturing Scheme outlay to Rs 40,000 crore, and support for rare earth corridors in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu. The government also announced the establishment of chemical parks in states through a cluster-based plug-and-play model and plans for seven environmentally sustainable passenger rail corridors, along with a dedicated east–west freight corridor.
The new Income Tax Act, 2025, will come into effect from April 1, with rules and return forms to be notified soon. On Budget day, gold and silver prices saw sharp corrections amid volatile commodity markets. Overall, the Budget seeks to enhance economic resilience, reduce import dependence, and promote long-term growth.
21:24 (IST) Feb 01
India has not allocated any funds for the Chabahar port project in Iran in the Union Budget for 2026–27 reflecting strained bilateral relations. The ministry of external affairs (MEA) has been allocated Rs 22,118 crore for 2026–27, compared with a budget estimate of Rs 20,516 crore and a revised estimate of Rs 21,742 crore in the current fiscal.
For the next financial year, assistance to Bangladesh has been pegged at Rs 60 crore.
In a departure from recent years, no allocation has been made for the Chabahar port project. In the previous Budget, Rs 100 crore was earmarked for the project, which was later increased to Rs 400 crore in the revised estimates.
India has been making an annual outlay of around Rs 100 crore for the strategic connectivity project located in Iran’s Sistan-Balochistan province over the past several years.
In September last year, the United States imposed economic sanctions on Iran but granted India a six-month exemption for the Chabahar port project. That waiver is set to expire on April 26.
The Chabahar port is being jointly developed by India and Iran to enhance regional connectivity and trade and is also envisioned as a key component of the International North-South Transport Corridor (INSTC).
Overseas development partnership
Among neighbouring countries, Bhutan has received the largest share of development assistance at Rs 2,288 crore, followed by Nepal (Rs 800 crore) and the Maldives and Mauritius (Rs 550 crore each).
According to revised estimates for 2025–26, Bhutan had been allocated Rs 1,950 crore.
The total allocation for the overseas development partnership portfolio under the MEA for 2026–27 has been pegged at Rs 6,997 crore, accounting for over 31 per cent of the ministry’s total budget.
Of this amount, Rs 4,548 crore has been earmarked for immediate neighbours. Officials said the funds will be used for a wide range of initiatives, including large infrastructure projects such as hydroelectric plants, power transmission lines, housing, roads and bridges, as well as grassroots community development projects.
Continuing India’s engagement with the people of Afghanistan, the Budget has allocated Rs 150 crore, up from Rs 100 crore in 2025–26.
Sri Lanka has been allocated Rs 400 crore, while Myanmar will receive Rs 300 crore. The total development assistance earmarked for Latin American countries in the 2026–27 Budget stands at Rs 120 crore.
For the next financial year, assistance to Bangladesh has been pegged at Rs 60 crore.
In a departure from recent years, no allocation has been made for the Chabahar port project. In the previous Budget, Rs 100 crore was earmarked for the project, which was later increased to Rs 400 crore in the revised estimates.
India has been making an annual outlay of around Rs 100 crore for the strategic connectivity project located in Iran’s Sistan-Balochistan province over the past several years.
In September last year, the United States imposed economic sanctions on Iran but granted India a six-month exemption for the Chabahar port project. That waiver is set to expire on April 26.
The Chabahar port is being jointly developed by India and Iran to enhance regional connectivity and trade and is also envisioned as a key component of the International North-South Transport Corridor (INSTC).
Overseas development partnership
Among neighbouring countries, Bhutan has received the largest share of development assistance at Rs 2,288 crore, followed by Nepal (Rs 800 crore) and the Maldives and Mauritius (Rs 550 crore each).
According to revised estimates for 2025–26, Bhutan had been allocated Rs 1,950 crore.
The total allocation for the overseas development partnership portfolio under the MEA for 2026–27 has been pegged at Rs 6,997 crore, accounting for over 31 per cent of the ministry’s total budget.
Of this amount, Rs 4,548 crore has been earmarked for immediate neighbours. Officials said the funds will be used for a wide range of initiatives, including large infrastructure projects such as hydroelectric plants, power transmission lines, housing, roads and bridges, as well as grassroots community development projects.
Continuing India’s engagement with the people of Afghanistan, the Budget has allocated Rs 150 crore, up from Rs 100 crore in 2025–26.
Sri Lanka has been allocated Rs 400 crore, while Myanmar will receive Rs 300 crore. The total development assistance earmarked for Latin American countries in the 2026–27 Budget stands at Rs 120 crore.
21:01 (IST) Feb 01
The Union Budget 2026 has laid down roadmap towards next phase of India's growth trajectory and keeping the momentum regards target of becoming a strong manufacturing hub. The Budget brings in a comprehensive fine tuning the India's indirect tax framework, with announcement of wide-ranging customs and excise measures intended at streamlining tariffs, consolidation of domestic manufacturing,enhancing export competitiveness. The proposals are aimed at giving a push towards government's intention to align trade policy with the Government's larger goal towards 'Viksit Bharat'.
Smita Singh, Partner ( Indirect Tax) at S&A Law Offices
21:00 (IST) Feb 01
CBI gets nearly Rs 1105 crore in Union Budget; increase of Rs 46.5 crore
The Centre allocated Rs 1,104.98 crore for CBI in the Budget 2026-27 presented by Finance Minister Nirmala Sitharaman on Sunday, a nominal increase of 4.4 per cent from the ongoing fiscal.
The agency received Rs 997.62 crore in the Budget Estimates for 2025-26, which was later revised to Rs 1058.3 crore.
The government has allocated Rs 1,104.98 crore to the agency for 2026-27, the budget document presented by Sitharaman said.
"The provision is for establishment-related expenditure of the Central Bureau of Investigation which is entrusted with investigation and prosecution in corruption cases against public servants, private persons, firms and other cases of serious crimes.
"This also includes provision for various projects such as modernisation of training centres of CBI, establishment of technical and forensic support units, comprehensive modernisation & purchase of land/construction of office/residence buildings for CBI," the budget document said.
The agency received Rs 997.62 crore in the Budget Estimates for 2025-26, which was later revised to Rs 1058.3 crore.
The government has allocated Rs 1,104.98 crore to the agency for 2026-27, the budget document presented by Sitharaman said.
"The provision is for establishment-related expenditure of the Central Bureau of Investigation which is entrusted with investigation and prosecution in corruption cases against public servants, private persons, firms and other cases of serious crimes.
"This also includes provision for various projects such as modernisation of training centres of CBI, establishment of technical and forensic support units, comprehensive modernisation & purchase of land/construction of office/residence buildings for CBI," the budget document said.
20:43 (IST) Feb 01
Budget provides strong systemic support to export ecosystem: Commerce secretary
The Budget for 2026-27 has announced a series of measures and provides strong systemic support to the exporting ecosystem by focusing on areas such as manufacturing and trade facilitation, Commerce Secretary Rajesh Agrawal said.
He said that there are measures for labour-intensive as well as high-tech sectors.
The focus on logistics and trade facilitation help cut compliance burden and improve India's share in global trade, Agrawal said.
"It is an excellent Budget which provides a strong systemic support to the trade ecosystem by focusing on manufacturing, trade facilitation, by focusing on new areas. It will all help in trade diversification also," Agrawal told PTI.
Announcements with regard to electronics, IT, pharma, marine, leather, textiles and semi-conductor will further give a boost to the country's exports, he said.
Finance Minister Nirmala Sitharaman on Sunday proposed duty-free imports of certain specified inputs for promoting the country's exports of leather.
The move will help provide cushion to leather exporters who are reeling under the steep 50 per cent US tariffs.
The country's leather and leather products shipments dipped marginally 0.23 per cent to USD 3.3 billion during April-December 2025-26.
He said that there are measures for labour-intensive as well as high-tech sectors.
The focus on logistics and trade facilitation help cut compliance burden and improve India's share in global trade, Agrawal said.
"It is an excellent Budget which provides a strong systemic support to the trade ecosystem by focusing on manufacturing, trade facilitation, by focusing on new areas. It will all help in trade diversification also," Agrawal told PTI.
Announcements with regard to electronics, IT, pharma, marine, leather, textiles and semi-conductor will further give a boost to the country's exports, he said.
Finance Minister Nirmala Sitharaman on Sunday proposed duty-free imports of certain specified inputs for promoting the country's exports of leather.
The move will help provide cushion to leather exporters who are reeling under the steep 50 per cent US tariffs.
The country's leather and leather products shipments dipped marginally 0.23 per cent to USD 3.3 billion during April-December 2025-26.
20:24 (IST) Feb 01
The introduction of specific penalty provisions is a positive milestone for the crypto industry. By mandating a ₹200 daily penalty for reporting delays and a Rs 50,000 fine for inaccuracies, the Government has formalized high standards of tax compliance and reporting for both users and VASPs. This validates the "Compliance-First" model of Indian platforms like CoinSwitch, shielding users from reporting risks and aligning with compliance goals.While compliance and surveillance have tightened, true growth requires economic rationalization to keep Web3 innovation and talent within India. The 1% TDS, lack of offset of losses and the 30% flat capital gains rate, create an asymmetric environment for genuine participation. These measures risk driving Indian capital toward non-compliant offshore platforms, leaving users vulnerable to legal and financial scrutiny.CoinSwitch remains fully committed and we will continue to work with the Government towards a balanced, user-first tax regime that pairs robust oversight with economic viability.
Ashish Singhal, Co-founder of CoinSwitch said on Union Budget
20:23 (IST) Feb 01
In a major push for tech-driven agriculture, Finance Minister Nirmala Sitharaman announced the launch of 'Bharat Vistar' in the Union Budget 2026-27—a multilingual AI tool set to integrate AgriStack portals and ICAR's agricultural practices with advanced AI systems, transforming how farmers access resources and make decisions.
The platform will boost farm productivity, deliver customised advisory support to reduce risks, and enable better on-ground choices for millions of farmers, aligning with the government's vision for AI integration in farming.
This comes alongside robust support for animal husbandry to spur rural jobs: a credit-linked subsidy program; scaling up and modernisation of livestock enterprises; enhanced creation of livestock, dairy, and poultry-focused integrated value chains; and encouragement for livestock farmer producer organisations.
High-value agriculture gets a thrust too, promoting crops like coconut, sandalwood, cashew, cocoa, agar trees (in the North East), and nuts such as almonds, walnuts, and pine nuts in coastal and suitable regions. India, the world's largest coconut producer, sustaining 30 million livelihoods (including 10 million farmers), will benefit from a dedicated promotion scheme to hike production via interventions like replacing non-productive trees with high-yield saplings in key states.
The platform will boost farm productivity, deliver customised advisory support to reduce risks, and enable better on-ground choices for millions of farmers, aligning with the government's vision for AI integration in farming.
This comes alongside robust support for animal husbandry to spur rural jobs: a credit-linked subsidy program; scaling up and modernisation of livestock enterprises; enhanced creation of livestock, dairy, and poultry-focused integrated value chains; and encouragement for livestock farmer producer organisations.
High-value agriculture gets a thrust too, promoting crops like coconut, sandalwood, cashew, cocoa, agar trees (in the North East), and nuts such as almonds, walnuts, and pine nuts in coastal and suitable regions. India, the world's largest coconut producer, sustaining 30 million livelihoods (including 10 million farmers), will benefit from a dedicated promotion scheme to hike production via interventions like replacing non-productive trees with high-yield saplings in key states.
20:20 (IST) Feb 01
The pace of fiscal consolidation has moderated in the FY27 Budget. After achieving a reduction of 40 basis points from 4.8% of GDP in FY25 to 4.4% in FY26 (RE), the reduction in the FY27 (BE) is only 10 basis points, taking the FY27 fiscal deficit to 4.3% of GDP. In medium term, covering years from FY28 to FY31, the stated target is to reduce the debt-GDP ratio from the estimated level of 55.6% in FY27 (BE) to 50%+/- 1% in FY31. This moderation is due to a fall in the GoI’s gross tax revenues to GDP ratio which has progressively gone down from 11.5% in FY25 to 11.4% in FY26 (RE) and further to 11.2% in FY27 (BE) which translates into a fall in GoI’s non-debt receipts relative to GDP.
DK Srivastava, Chief Policy Advisor, EY India told TOI
20:17 (IST) Feb 01
Budget 2026 Live Updates: Expert hails removal of customs duty on 17 cancer drugs
Padma Shri awardee and leading oncologist Dr Ashok Kumar Vaid termed the government's decision to remove customs duty on 17 cancer-related drugs as an "unprecedented" step that would bring significant relief to patients and their families burdened by high treatment costs.
"The treatment of cancer can be categorised into two or three segments, and the biggest segment of all is the price of medicines. Cancer treatment is not a one-time therapy; it is a long-term process," Dr Vaid told PTI.
He said cancer is increasingly being treated like a chronic disease.
"Just like a diabetic or blood pressure patient takes medicines for a prolonged period, cancer patients now need long-term medication. New medicines are controlling cancer even at advanced stages and maintaining it for longer periods. Therefore, the cost of treatment becomes a very important factor for the patient and the family," he said.
Calling the duty cut a major policy move, Dr Vaid said, "As far as I understand, this decision will affect 17 cancer medicines, which is unprecedented. Such a step has not been taken in any budget till now. It is a big and important decision."
He said it is likely that expensive imported cancer drugs would be cheaper.
"We will have to see which medicines are included in these 17, but one thing is sure — these will be costly imported medicines. Therefore, the impact of this decision will be big, hopefully," he said.
Sitharaman announced the removal of basic customs duty on 17 cancer-related drugs and medicines in her Budget speech in Parliament.
"The treatment of cancer can be categorised into two or three segments, and the biggest segment of all is the price of medicines. Cancer treatment is not a one-time therapy; it is a long-term process," Dr Vaid told PTI.
He said cancer is increasingly being treated like a chronic disease.
"Just like a diabetic or blood pressure patient takes medicines for a prolonged period, cancer patients now need long-term medication. New medicines are controlling cancer even at advanced stages and maintaining it for longer periods. Therefore, the cost of treatment becomes a very important factor for the patient and the family," he said.
Calling the duty cut a major policy move, Dr Vaid said, "As far as I understand, this decision will affect 17 cancer medicines, which is unprecedented. Such a step has not been taken in any budget till now. It is a big and important decision."
He said it is likely that expensive imported cancer drugs would be cheaper.
"We will have to see which medicines are included in these 17, but one thing is sure — these will be costly imported medicines. Therefore, the impact of this decision will be big, hopefully," he said.
Sitharaman announced the removal of basic customs duty on 17 cancer-related drugs and medicines in her Budget speech in Parliament.
19:54 (IST) Feb 01
The Union Budget 2026–27 proposes a grand total expenditure of Rs 53.47 lakh crore, comprising Rs 41.25 lakh crore in revenue expenditure and Rs 12.22 lakh crore in capital expenditure. The budget reinforces the government’s emphasis on growth, inclusion and long-term capacity building under its three-fold kartavya framework.
Presenting a Yuva Shakti–driven Budget, finance minister Nirmala Sitharaman said that the allocations reflect the government’s sankalp to prioritise the poor, underprivileged and disadvantaged, while sustaining economic momentum and strengthening India’s resilience amid a challenging global environment.
Here is the ministry-wise allocation in the Union Budget 2026–27:
Finance ministry: The ministry of finance has received the largest allocation of Rs 19.72 lakh crore, including Rs 17.22 lakh crore for revenue expenditure and Rs 2.50 lakh crore for capital expenditure. The allocation reflects spending on interest payments, subsidies and transfers to states, even as the government pegs the fiscal deficit at 4.3 per cent of GDP for 2026–27.
Defence ministry: The ministry of defence has been allocated Rs 7.85 lakh crore, comprising Rs 5.54 lakh crore in revenue expenditure and Rs 2.31 lakh crore in capital outlay.The allocation underlines the government’s focus on military modernisation, operational preparedness and pensions, with capital spending supporting aircraft, naval platforms, unmanned systems and indigenisation under Aatmanirbhar Bharat.
Presenting a Yuva Shakti–driven Budget, finance minister Nirmala Sitharaman said that the allocations reflect the government’s sankalp to prioritise the poor, underprivileged and disadvantaged, while sustaining economic momentum and strengthening India’s resilience amid a challenging global environment.
Here is the ministry-wise allocation in the Union Budget 2026–27:
Finance ministry: The ministry of finance has received the largest allocation of Rs 19.72 lakh crore, including Rs 17.22 lakh crore for revenue expenditure and Rs 2.50 lakh crore for capital expenditure. The allocation reflects spending on interest payments, subsidies and transfers to states, even as the government pegs the fiscal deficit at 4.3 per cent of GDP for 2026–27.
Defence ministry: The ministry of defence has been allocated Rs 7.85 lakh crore, comprising Rs 5.54 lakh crore in revenue expenditure and Rs 2.31 lakh crore in capital outlay.The allocation underlines the government’s focus on military modernisation, operational preparedness and pensions, with capital spending supporting aircraft, naval platforms, unmanned systems and indigenisation under Aatmanirbhar Bharat.
19:36 (IST) Feb 01
Union Budget will increase inflation, create unemployment: AAP leader Kejriwal
AAP national convenor Arvind Kejriwal said the Union Budget will increase inflation and create unemployment. Speaking to reporters in Kavlem village, he also said there was nothing for Goa in the Budget presented in Parliament by Union Finance Minister Nirmala Sitharaman.
"The central government has forgotten Goa," he claimed.
"From a national perspective, the Budget will increase inflation and also create unemployment. This Budget has not suggested any steps to address inflation and unemployment," Kejriwal said.
He also slammed the BJP for "destroying" Goa, adding that people are afraid to speak about issues plaguing the state.
"Goa is looking for an alternative because Congress and BJP are together. Congress is like a feeder unit of BJP. AAP is emerging as an alternative in Goa," he said with regards to the 2027 assembly polls.
"The central government has forgotten Goa," he claimed.
"From a national perspective, the Budget will increase inflation and also create unemployment. This Budget has not suggested any steps to address inflation and unemployment," Kejriwal said.
He also slammed the BJP for "destroying" Goa, adding that people are afraid to speak about issues plaguing the state.
"Goa is looking for an alternative because Congress and BJP are together. Congress is like a feeder unit of BJP. AAP is emerging as an alternative in Goa," he said with regards to the 2027 assembly polls.
19:06 (IST) Feb 01
Budget 2026 Live Updates: China, internal security in focus; MHA allocated Rs 2.55 lakh crore
The Union Budget 2026–27 allocated over Rs 2.55 lakh crore to the Ministry of Home Affairs (MHA), marking an increase of about 9.44% from the Rs 2.33 lakh crore provided in the previous financial year.
Of the total allocation announced by Finance Minister Nirmala Sitharaman, nearly Rs 1.73 lakh crore — around 68% — has been earmarked under the ‘Police’ head. This includes funding for the Intelligence Bureau (IB), central armed police forces (CAPFs) such as the CRPF, BSF, ITBP and CISF, border development programmes, and police forces in Delhi and Jammu and Kashmir.
The Intelligence Bureau has received Rs 6,782.43 crore, a sharp 63% increase over the revised estimate of Rs 4,159.1 crore last year. The allocation is meant to meet administrative expenses related to internal intelligence gathering and national security.
Among the CAPFs, the Indo-Tibetan Border Police (ITBP) saw the highest increase, receiving Rs 11,324.08 crore, up nearly 14.7% from last year’s revised estimate. This includes Rs 225.80 crore in capital expenditure for procurement of equipment, machinery and vehicles.
The Central Reserve Police Force (CRPF) was allocated Rs 38,517.9 crore, a 3.39% rise, while the Border Security Force (BSF) received Rs 29,567.64 crore, largely unchanged from last year. The SSB was allocated Rs 10,984.51 crore, CISF got Rs 15,973.85 crore, and the Assam Rifles received Rs 8,796.68 crore, all showing modest increases. Additionally, Rs 95 crore was provided for the BSF Air Wing.
The Delhi Police was allocated Rs 12,503.65 crore, a marginal increase of 0.78 per cent, for routine expenses and infrastructure upgrades including communication networks, training and traffic systems. The Special Protection Group (SPG) received Rs 499.99 crore, slightly lower than last year.
The Jammu and Kashmir Police, now under central control, was allocated Rs 9,925.50 crore, reflecting a 9.1% increase. The Budget also provided Rs 450.54 crore for police modernisation and CCTNS, and Rs 3,610.80 crore for security-related expenditure and infrastructure in Left Wing Extremism-affected areas, as the Centre targets elimination of Naxalism by March 31.
The Union Territory of Jammu and Kashmir received Rs 43,290.29 crore, up 4.7 per cent, including funds for disaster response, power projects on the Chenab river, and the Jhelum Tavi Flood Recovery Project.
The national capital was allocated Rs 1,348 crore, including compensation for 1984 riot victims, disaster relief, and water supply infrastructure upgrades. Transfers to Delhi rose 8.53% from last year.
Other Union Territories also received allocations, including Rs 6,680.94 crore for Andaman and Nicobar Islands, Rs 4,869.31 crore for Ladakh, and Rs 3,517.88 crore for Puducherry.
The Budget also set aside Rs 6,000 crore for Census-related work, with the first phase scheduled to begin on April 1, after delays caused by the COVID-19 pandemic.
Of the total allocation announced by Finance Minister Nirmala Sitharaman, nearly Rs 1.73 lakh crore — around 68% — has been earmarked under the ‘Police’ head. This includes funding for the Intelligence Bureau (IB), central armed police forces (CAPFs) such as the CRPF, BSF, ITBP and CISF, border development programmes, and police forces in Delhi and Jammu and Kashmir.
The Intelligence Bureau has received Rs 6,782.43 crore, a sharp 63% increase over the revised estimate of Rs 4,159.1 crore last year. The allocation is meant to meet administrative expenses related to internal intelligence gathering and national security.
Among the CAPFs, the Indo-Tibetan Border Police (ITBP) saw the highest increase, receiving Rs 11,324.08 crore, up nearly 14.7% from last year’s revised estimate. This includes Rs 225.80 crore in capital expenditure for procurement of equipment, machinery and vehicles.
The Central Reserve Police Force (CRPF) was allocated Rs 38,517.9 crore, a 3.39% rise, while the Border Security Force (BSF) received Rs 29,567.64 crore, largely unchanged from last year. The SSB was allocated Rs 10,984.51 crore, CISF got Rs 15,973.85 crore, and the Assam Rifles received Rs 8,796.68 crore, all showing modest increases. Additionally, Rs 95 crore was provided for the BSF Air Wing.
The Delhi Police was allocated Rs 12,503.65 crore, a marginal increase of 0.78 per cent, for routine expenses and infrastructure upgrades including communication networks, training and traffic systems. The Special Protection Group (SPG) received Rs 499.99 crore, slightly lower than last year.
The Jammu and Kashmir Police, now under central control, was allocated Rs 9,925.50 crore, reflecting a 9.1% increase. The Budget also provided Rs 450.54 crore for police modernisation and CCTNS, and Rs 3,610.80 crore for security-related expenditure and infrastructure in Left Wing Extremism-affected areas, as the Centre targets elimination of Naxalism by March 31.
The Union Territory of Jammu and Kashmir received Rs 43,290.29 crore, up 4.7 per cent, including funds for disaster response, power projects on the Chenab river, and the Jhelum Tavi Flood Recovery Project.
The national capital was allocated Rs 1,348 crore, including compensation for 1984 riot victims, disaster relief, and water supply infrastructure upgrades. Transfers to Delhi rose 8.53% from last year.
Other Union Territories also received allocations, including Rs 6,680.94 crore for Andaman and Nicobar Islands, Rs 4,869.31 crore for Ladakh, and Rs 3,517.88 crore for Puducherry.
The Budget also set aside Rs 6,000 crore for Census-related work, with the first phase scheduled to begin on April 1, after delays caused by the COVID-19 pandemic.
18:39 (IST) Feb 01
We highly appreciate the government’s initiative to focus on farmer-centric growth and modernising Indian agriculture. The emphasis on high-value crops, crop diversification, post-harvest processing, and region-specific programmes for coconut, sandalwood, and nut crops is a positive step towards improving farmer incomes and reducing production risks. The announcement of AI-based platforms like Bharat Vistaar, which will provide customised advisories in local languages, is particularly encouraging. These initiatives can empower farmers to make better and more timely decisions at the field level, supporting productivity and efficient farm management.From the industry perspective, there was hope for stronger support towards agri-innovation through enhanced R&D incentives and rationalisation of GST on essential crop-protection products, which are vital for safeguarding crop productivity. These initiatives are in line with our vision of a self-reliant, prosperous, and sustainable agricultural future. We thank the government for these forward-looking decisions that can drive agricultural development and strengthen India’s path towards Aatmanirbhar Krishi.
Mr M K Dhanuka, Chairman, Dhanuka Agritech Limited told TOI
18:25 (IST) Feb 01
'Nothing for common man, Bengal': Mamata slams Centre's 'Humpty Dumpty' budget
West Bengal chief minister Mamata Banerjee slammed the Union Budget 2026–27, calling it a “directionless and visionless Humpty Dumpty Budget” that offers nothing for the common man or for Bengal.
Speaking to reporters at Kolkata airport before departing for New Delhi, Banerjee alleged that allocations for several key sectors had been slashed. “This Budget is directionless, visionless, actionless and anti-people. It is anti-women, anti-farmer, anti-education and against SCs, STs and OBCs. There is nothing on offer for Bengal in this Humpty Dumpty Budget,” she said.
She claimed that funding for education, social security subsidies and fertiliser subsidies had been cut, warning that the economy would suffer as a result. “This is a garbage of lies and Himalayan incompetence. The economy will be totally derailed,” the chief minister alleged.
Banerjee said the market reaction reflected the Budget’s impact. “The Sensex fell by over 1,100 points and the Nifty 50 slipped below 25,000. You can clearly see the impact,” she said.
Reiterating that Bengal had been ignored, the Trinamool Congress supremo asked, “For West Bengal, what have they given? Nothing. They talk big, but offer nothing.”
With Assembly elections due in the state in the coming months, Banerjee also criticised the Centre’s infrastructure announcements, claiming they merely repeated earlier proposals.
“The freight corridor was mentioned in my Railway Budget in 2009. I had mentioned Dankuni and Amritsar. There has been no spending on this for the last 15 years,” she claimed.
She further claimed that the Centre’s announcement of three economic corridors was misleading. “We have already announced six economic corridors. What they have said about three corridors is a lie,” Banerjee alleged.
Banerjee said “investment was already flowing” into projects such as the 'Jungle Sundari' economic corridor in Purulia.
“For this corridor, Rs 72,000 crore is going to be invested. Investors have shown interest to set up cement, coal, leather and steel units,” she said.
Claiming that Bengal was being financially deprived, the CM said, “Now, there is only one tax. What they are collecting from Bengal, they are not giving us our dues, which is more than Rs 2 lakh crore... Hence, they don't have any moral authority to run the government and destroy the country like this.”
She also said that “systematic erosion” of institutions and sectors was taking place.
“They (the BJP) want to destroy the economic and constitutional structure of this country, including independent agencies, infrastructure facilities. The social structure, federal structure... all of these are vanishing,” Banerjee added.
Speaking to reporters at Kolkata airport before departing for New Delhi, Banerjee alleged that allocations for several key sectors had been slashed. “This Budget is directionless, visionless, actionless and anti-people. It is anti-women, anti-farmer, anti-education and against SCs, STs and OBCs. There is nothing on offer for Bengal in this Humpty Dumpty Budget,” she said.
She claimed that funding for education, social security subsidies and fertiliser subsidies had been cut, warning that the economy would suffer as a result. “This is a garbage of lies and Himalayan incompetence. The economy will be totally derailed,” the chief minister alleged.
Banerjee said the market reaction reflected the Budget’s impact. “The Sensex fell by over 1,100 points and the Nifty 50 slipped below 25,000. You can clearly see the impact,” she said.
Reiterating that Bengal had been ignored, the Trinamool Congress supremo asked, “For West Bengal, what have they given? Nothing. They talk big, but offer nothing.”
With Assembly elections due in the state in the coming months, Banerjee also criticised the Centre’s infrastructure announcements, claiming they merely repeated earlier proposals.
“The freight corridor was mentioned in my Railway Budget in 2009. I had mentioned Dankuni and Amritsar. There has been no spending on this for the last 15 years,” she claimed.
She further claimed that the Centre’s announcement of three economic corridors was misleading. “We have already announced six economic corridors. What they have said about three corridors is a lie,” Banerjee alleged.
Banerjee said “investment was already flowing” into projects such as the 'Jungle Sundari' economic corridor in Purulia.
“For this corridor, Rs 72,000 crore is going to be invested. Investors have shown interest to set up cement, coal, leather and steel units,” she said.
Claiming that Bengal was being financially deprived, the CM said, “Now, there is only one tax. What they are collecting from Bengal, they are not giving us our dues, which is more than Rs 2 lakh crore... Hence, they don't have any moral authority to run the government and destroy the country like this.”
She also said that “systematic erosion” of institutions and sectors was taking place.
“They (the BJP) want to destroy the economic and constitutional structure of this country, including independent agencies, infrastructure facilities. The social structure, federal structure... all of these are vanishing,” Banerjee added.
18:19 (IST) Feb 01
Budget 2026 Live Updates: Govt allocates Rs 13,705 crore for Department of Space
ISRO’s plans to develop new rockets, pursue its own space station and advance human spaceflight missions received a boost in the Union Budget 2026–27, with Finance Minister Nirmala Sitharaman allocating Rs 13,705.60 crore to the Department of Space.
The allocation is slightly higher than the Rs 13,416 crore budgeted for the current fiscal and above the Rs 12,448.60 crore provided under the revised estimates for 2025–26.
Of the total outlay, Rs 10,397.06 crore has been earmarked for space technology, supporting activities at key ISRO centres such as the Vikram Sarabhai Space Centre, Liquid Propulsion Systems Centre, ISRO Propulsion Complex and UR Rao Satellite Centre. The funds will back launch vehicle and satellite projects, including both development and operational missions, as well as IN-SPACe schemes.
The budget includes Rs 7,329.70 crore as revenue expenditure and Rs 6,375.90 crore as capital spending — a rise of nearly Rs 1,066 crore in capital outlay compared to last year’s revised estimates.
ISRO is planning uncrewed missions under the Gaganyaan programme this year and is also working on a Next Generation Launch Vehicle capable of carrying heavier payloads.
Industry leaders welcomed the increased allocation, saying it would help deepen private sector participation in launch vehicles, satellites and scientific missions, though some key demands such as incentives for space manufacturing, GST rationalisation and a dedicated PLI scheme remain unaddressed.
The allocation is slightly higher than the Rs 13,416 crore budgeted for the current fiscal and above the Rs 12,448.60 crore provided under the revised estimates for 2025–26.
Of the total outlay, Rs 10,397.06 crore has been earmarked for space technology, supporting activities at key ISRO centres such as the Vikram Sarabhai Space Centre, Liquid Propulsion Systems Centre, ISRO Propulsion Complex and UR Rao Satellite Centre. The funds will back launch vehicle and satellite projects, including both development and operational missions, as well as IN-SPACe schemes.
The budget includes Rs 7,329.70 crore as revenue expenditure and Rs 6,375.90 crore as capital spending — a rise of nearly Rs 1,066 crore in capital outlay compared to last year’s revised estimates.
ISRO is planning uncrewed missions under the Gaganyaan programme this year and is also working on a Next Generation Launch Vehicle capable of carrying heavier payloads.
Industry leaders welcomed the increased allocation, saying it would help deepen private sector participation in launch vehicles, satellites and scientific missions, though some key demands such as incentives for space manufacturing, GST rationalisation and a dedicated PLI scheme remain unaddressed.
18:10 (IST) Feb 01
This Budget strikes the right chords on investor confidence with a thrust on reforms – through incentives, clearer rules and fewer adversarial measures. Recognising the opportunities of centrality of AI based technology and to position India as a competitive hub for cloud and AI infrastructure, the Government has taken a bold step in introducing a tax holiday for data centres serving foreign customers until March 31, 2047. Equally important is the new 15.5% safe harbour for IT, BPO, KPO and contract R&D up to Rs 2,000 crore, a sharp reduction from earlier high thresholds in light of India’s ambition to become a services‑led economy contributing 10% of global services output by 2047. Higher investment limits for overseas individual investors, simpler procedures and measures for decriminalisation of tax offences all point to a more predictable, investor-friendly regime.
Sameer Gupta, Partner and National Tax Leader, EY India told TOI
17:51 (IST) Feb 01
Union Budget lacks fiscal prudence, capital expenditure cut in key sectors: Chidambaram
Former finance minister P Chidambaram criticised the Union Budget, claiming that the Centre’s capital expenditure has declined and funds have been reduced for several crucial sectors and programmes.
Speaking on the Budget, Chidambaram said it appeared that the government and the finance minister had discarded the Economic Survey and instead fallen back on what he described as their “favourite pastime of throwing acronyms at the people”.
He also said the Union Budget could “certainly not be described as a bold exercise in fiscal prudence and consolidation”, questioning the government’s approach to managing public finances.
Speaking on the Budget, Chidambaram said it appeared that the government and the finance minister had discarded the Economic Survey and instead fallen back on what he described as their “favourite pastime of throwing acronyms at the people”.
He also said the Union Budget could “certainly not be described as a bold exercise in fiscal prudence and consolidation”, questioning the government’s approach to managing public finances.
17:49 (IST) Feb 01
Budget 2026 Live Updates: 'Govt is succumbing to somebody's pressure', says Chidambaram
Former finance minister P Chidambaram criticised the Centre for making no allocation for the Chabahar port in the Union Budget, alleging that the government was “succumbing to somebody’s pressure”, a remark seen as a reference to pressure arising from US tariff measures.
17:41 (IST) Feb 01
This budget places a strong focus on developing many cities across the country, such as Jalandhar, Ludhiana, and Hoshiarpur, as major centres of growth. Substantial provisions have been made for the development of these cities. Punjab is among those states in the country that have a rich tradition of agriculture alongside small industries and MSMEs. Over the past few years, MSMEs across the country have received financial support amounting to several lakh crore rupees. In this budget as well, provisions have been made for MSMEs with funds running into thousands of crores. In recent years, India’s exports have grown significantly, and this budget includes several major announcements for exporters as well. Friends, India is now emerging as one of the world’s leading exporters of textiles and garments. Therefore, this budget also includes multiple announcements for the textile sector and for our weaver brothers and sisters.
Prime Minister Narendra Modi in Jalandhar
17:30 (IST) Feb 01
Budget 2026 Live Updates: ‘None of the issues addressed, even the applause was perfunctory,’ says Chidambaram
Former finance minister P Chidambaram criticised the Union Budget 2026, alleging that the government had ignored key concerns flagged in the Economic Survey 2025–26.
"... I am not sure if the government and the Finance Minister had read the Economic Survey 2025-26. If they had, it appears they have decided to discard it completely and fall back on their favourite pastime of throwing words, usually acronyms, at the people,” Chidambaram said.
"The penal tariffs imposed by the United States have created stress for manufacturers, especially exporters...The growing trade deficit, especially with China. The uncertain outlook for the flow of FDI (foreign direct investment) into India and the persistent outflow of FPI for the last several months...None of this was addressed by the Finance Minister’s speech,” he said, adding that the muted response in Parliament reflected this gap.
"It was, therefore, not surprising that the applause was perfunctory and most of the audience tuned out in quick time. Even the telecast by Sansad TV switched off a few times..." he added.
Chidambaram concluded by saying that “even by an accountant’s standards, it was a poor account of the management of public finances in 2025–26.”
"... I am not sure if the government and the Finance Minister had read the Economic Survey 2025-26. If they had, it appears they have decided to discard it completely and fall back on their favourite pastime of throwing words, usually acronyms, at the people,” Chidambaram said.
"The penal tariffs imposed by the United States have created stress for manufacturers, especially exporters...The growing trade deficit, especially with China. The uncertain outlook for the flow of FDI (foreign direct investment) into India and the persistent outflow of FPI for the last several months...None of this was addressed by the Finance Minister’s speech,” he said, adding that the muted response in Parliament reflected this gap.
"It was, therefore, not surprising that the applause was perfunctory and most of the audience tuned out in quick time. Even the telecast by Sansad TV switched off a few times..." he added.
Chidambaram concluded by saying that “even by an accountant’s standards, it was a poor account of the management of public finances in 2025–26.”
17:25 (IST) Feb 01
Our coastlines are eroding—we are losing actual Indian territory to the sea annually. If this were a land border, it would be a defence emergency. On the coast, it is met with apathy. No "war-footing" package for coastal protection suggests the Centre takes Kerala’s geography for granted. And the step-motherly treatment of the coastal community continues.
Congress leader Shashi Tahroor on Union Budget
17:12 (IST) Feb 01
FM Sitharaman peppered her speech with schemes, programmes and hubs. Union Budget 2026-27 failed test of economic strategy, economic statesmanship.
Chidambaram
17:07 (IST) Feb 01
Depreciation of rupee not addressed by Sitharaman: Former finance minister Chidambaram
16:59 (IST) Feb 01
Budget 2026 Live Updates: Education budget raised by over 8% for FY26-27 to Rs 1.39 lakh crore
With education and skilling positioned at the core of India’s long-term growth strategy, the Union Budget 2026–27 has allocated Rs 1.39 lakh crore to the Ministry of Education, marking an 8.27 per cent increase over the previous financial year.
The allocation accounts for about 2.6 per cent of the total estimated expenditure of Rs 53.5 lakh crore for 2026–27.
Presenting the Budget in Parliament, Nirmala Sitharaman announced several initiatives for the education and skilling sector, including the development of five University Townships, the establishment of veterinary and para-veterinary colleges, the setting up of Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs, and the creation of a National Institute of Hospitality.
Of the total outlay, Rs 83,562.26 crore has been earmarked for school education, while Rs 55,727 crore has been allocated for higher education. The budgets for school and higher education have increased by 6.35 per cent and 11.28 per cent, respectively.
The education ministry was allocated Rs 1.28 lakh crore in 2025–26.
Welcoming the enhanced allocation, Union Education Minister Dharmendra Pradhan said the Budget reflects the vision of Prime Minister Narendra Modi and Finance Minister Sitharaman to build a developed India.
“To achieve the goal of a developed India, this Budget reflects the Prime Minister’s vision and the Finance Minister’s leadership. The education allocation this year is higher than last year,” Pradhan said.
He noted that the allocation has risen from Rs 1.28 lakh crore to Rs 1.39 lakh crore, an increase of 8.27 per cent. Highlighting women’s growing role in science and technology, Pradhan said the government plans to establish girls’ hostels in every state in collaboration with state governments.
He also announced plans to develop university councils to strengthen educational infrastructure and support the transition towards a knowledge-based economy.
The allocation accounts for about 2.6 per cent of the total estimated expenditure of Rs 53.5 lakh crore for 2026–27.
Presenting the Budget in Parliament, Nirmala Sitharaman announced several initiatives for the education and skilling sector, including the development of five University Townships, the establishment of veterinary and para-veterinary colleges, the setting up of Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs, and the creation of a National Institute of Hospitality.
Of the total outlay, Rs 83,562.26 crore has been earmarked for school education, while Rs 55,727 crore has been allocated for higher education. The budgets for school and higher education have increased by 6.35 per cent and 11.28 per cent, respectively.
The education ministry was allocated Rs 1.28 lakh crore in 2025–26.
Welcoming the enhanced allocation, Union Education Minister Dharmendra Pradhan said the Budget reflects the vision of Prime Minister Narendra Modi and Finance Minister Sitharaman to build a developed India.
“To achieve the goal of a developed India, this Budget reflects the Prime Minister’s vision and the Finance Minister’s leadership. The education allocation this year is higher than last year,” Pradhan said.
He noted that the allocation has risen from Rs 1.28 lakh crore to Rs 1.39 lakh crore, an increase of 8.27 per cent. Highlighting women’s growing role in science and technology, Pradhan said the government plans to establish girls’ hostels in every state in collaboration with state governments.
He also announced plans to develop university councils to strengthen educational infrastructure and support the transition towards a knowledge-based economy.
16:52 (IST) Feb 01
The Union Budget 2026 leaves much from desired like lower GST for the Education sector services, but does bring in some positive developments like skill development inclusivity (especially for girls and women), innovation in emerging technologies like AI, expansion of institutions, and better alignment between education and employment.
Anshuman Pratyush, Partner & Growth Head, Aalgorix told TOI
16:50 (IST) Feb 01
Budget 2026 live: 1 lakh allied health professionals to get training in five years, says Sitharaman
The government announced a major boost to India’s allied healthcare workforce, proposing to add around one lakh allied health professionals (AHPs) across 10 disciplines over the next five years under the Union Budget 2026.
For the first time, the Union Health Ministry has been allocated Rs 1,000 crore for a dedicated Scheme for Allied Health Care Professionals, aimed at strengthening diagnostics, preventive, rehabilitative and public health services.
The disciplines covered include optometry, radiology, anaesthesia, operation theatre technology, applied psychology and behavioural health, among others.
In addition, the Budget announced a focused programme to train 1.5 lakh geriatric caregivers, addressing the rapidly growing long-term care needs of India’s ageing population.
Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said existing institutions for allied health professionals would be upgraded, while new AHP institutions would be set up across both the public and private sectors.
“This will create a new range of skilled career pathways for India’s youth in the health sector,” she said, adding that the initiative would cover 10 selected disciplines and add one lakh AHPs over the next five years.
Sitharaman also said programmes aligned with the National Skills Qualifications Framework (NSQF) would be developed to train caregivers in core care and allied skills, with 1.5 lakh caregivers to be trained in the coming year.
The Union Health Ministry said the measures would not only strengthen healthcare delivery but also help position India as a global hub for skilled allied healthcare professionals.
For the first time, the Union Health Ministry has been allocated Rs 1,000 crore for a dedicated Scheme for Allied Health Care Professionals, aimed at strengthening diagnostics, preventive, rehabilitative and public health services.
The disciplines covered include optometry, radiology, anaesthesia, operation theatre technology, applied psychology and behavioural health, among others.
In addition, the Budget announced a focused programme to train 1.5 lakh geriatric caregivers, addressing the rapidly growing long-term care needs of India’s ageing population.
Presenting the Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said existing institutions for allied health professionals would be upgraded, while new AHP institutions would be set up across both the public and private sectors.
“This will create a new range of skilled career pathways for India’s youth in the health sector,” she said, adding that the initiative would cover 10 selected disciplines and add one lakh AHPs over the next five years.
Sitharaman also said programmes aligned with the National Skills Qualifications Framework (NSQF) would be developed to train caregivers in core care and allied skills, with 1.5 lakh caregivers to be trained in the coming year.
The Union Health Ministry said the measures would not only strengthen healthcare delivery but also help position India as a global hub for skilled allied healthcare professionals.
16:46 (IST) Feb 01
The Government’s focus on reskilling & Education are welcome however steps taken are very broad-based and does not address ground level incentives required to propel Tech companies and leverage AI Technologies. GST at 18% of Ed services is not helping the cause of skill development.
Rohit Verma, Founder & CEO, Aalgorix told TOI
16:45 (IST) Feb 01
Kerala CM Pinarayi Vijayan slams Union Budget, says FM Nirmala Sitharaman forgot Kerala is also part of India's map
16:34 (IST) Feb 01
Punjab government, Haryana opposition say Budget 2026 has nothing for farmers
Punjab, a non-BJP ruled state, and the Opposition in Haryana on Sunday expressed disappointment over the Union Budget, saying the Centre has once again failed to live up to the farmers' expectations.
Punjab Chief Minister Bhagwant Mann said the budget neither had any announcement regarding the minimum support price for farmers, nor did it provide any relief for industry and in taxes.
"The central government's budget once again fell short of Punjab's expectations. This budget made no concrete announcements on MSP for farmers...youth.
"No concrete steps were taken in this budget to strengthen Punjab's economy. As always, Punjab and Punjabis were treated step-motherly. The people of Punjab are hardworking and enthusiastic. Together, we will ensure Punjab stands firmly on its feet again," said Mann in a post on X in Punjabi.
Partap Singh Bajwa, who is the leader of the opposition in the Punjab assembly, also said there was no relief for Punjab farmers and nothing was announced for the state youth in the Budget.
"Budget 2026-27 confirms Punjab has been completely forgotten. No relief for 'Annadata' farmers, no jobs roadmap for our youth, no plan for industry or cities. Big words changed, ground reality unchanged—"reforms" that never arrive," said Bajwa in a post on X.
The Union Budget 2026-27 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Sunday.
Punjab Chief Minister Bhagwant Mann said the budget neither had any announcement regarding the minimum support price for farmers, nor did it provide any relief for industry and in taxes.
"The central government's budget once again fell short of Punjab's expectations. This budget made no concrete announcements on MSP for farmers...youth.
"No concrete steps were taken in this budget to strengthen Punjab's economy. As always, Punjab and Punjabis were treated step-motherly. The people of Punjab are hardworking and enthusiastic. Together, we will ensure Punjab stands firmly on its feet again," said Mann in a post on X in Punjabi.
Partap Singh Bajwa, who is the leader of the opposition in the Punjab assembly, also said there was no relief for Punjab farmers and nothing was announced for the state youth in the Budget.
"Budget 2026-27 confirms Punjab has been completely forgotten. No relief for 'Annadata' farmers, no jobs roadmap for our youth, no plan for industry or cities. Big words changed, ground reality unchanged—"reforms" that never arrive," said Bajwa in a post on X.
The Union Budget 2026-27 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Sunday.
16:23 (IST) Feb 01
'Will ensure that technology is brought in to benefit common man': Sitharaman on Union Budget
Union finance minister Nirmala Sitharaman, in her customary post-Budget press conference on Sunday, said that the government is giving a push to the economy to maintain growth momentum.
"Primarily, we are looking at building the ecosystem with structural reforms, which will go on. 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 enough environment for improving productivity and making sure employment is generated," she said, with all the secretaries in the Ministry of Finance alongside.
"21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man...," she said.
Cities are India's engines of growth, innovation, and opportunities. The government now focuses on Tier II and Tier III cities, and even temple-towns, which need modern infrastructure and basic amenities. This Budget aims to further amplify the potential of cities to deliver the economic power of agglomerations by mapping city economic regions (CER), based on their specific growth drivers. An allocation of Rs 5000 crore per CER over 5 years is proposed for implementing their plans through a challenge mode with a reform-cum-results based financing mechanism.
"Rs 1000 crore per year per city is being given, and the emphasis is going to be largely on tier 2, tier 3 cities...," the FM said in the press conference.
The FM also highlighted two important aspects of the Budget with the Semiconductor Mission and the electronic component manufacturing scheme.
"Primarily, we are looking at building the ecosystem with structural reforms, which will go on. 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 enough environment for improving productivity and making sure employment is generated," she said, with all the secretaries in the Ministry of Finance alongside.
"21st century is completely driven by technology. So we will ensure that technology is brought in to benefit the common man...," she said.
Cities are India's engines of growth, innovation, and opportunities. The government now focuses on Tier II and Tier III cities, and even temple-towns, which need modern infrastructure and basic amenities. This Budget aims to further amplify the potential of cities to deliver the economic power of agglomerations by mapping city economic regions (CER), based on their specific growth drivers. An allocation of Rs 5000 crore per CER over 5 years is proposed for implementing their plans through a challenge mode with a reform-cum-results based financing mechanism.
"Rs 1000 crore per year per city is being given, and the emphasis is going to be largely on tier 2, tier 3 cities...," the FM said in the press conference.
The FM also highlighted two important aspects of the Budget with the Semiconductor Mission and the electronic component manufacturing scheme.
16:11 (IST) Feb 01
Union Budget: Ranchi set to emerge as mental healthcare hub
Ranchi, the capital of Jharkhand and known for its mental health institutions, received a boost in the Union Budget with the announcement to upgrade national mental health facilities in the city.
Union Finance Minister Nirmala Sitharaman on Sunday announced the setting up of a second National Institute of Mental Health and Neuro Sciences (NIMHANS 2.0) and the upgrade of national mental health institutes in Ranchi and Tezpur as regional apex institutions.
The first NIMHANS is located in Bengaluru.
The city's two major health institutions – Central Institute of Psychiatry (CIP), run by central government, and Ranchi Institute of Neuro-Psychiatry and Allied Sciences (RINPAS), state-owned institution – have been serving as premier centres for psychiatric care, research, and rehabilitation for over 100 years.
CIP authorities have expressed happiness over the announcement and said they had been demanding the institute’s upgrade on the lines of NIMHANS.
The institute was established by the British on May 17, 1918 with the name of Ranchi European Lunatic Asylum.
Union Finance Minister Nirmala Sitharaman on Sunday announced the setting up of a second National Institute of Mental Health and Neuro Sciences (NIMHANS 2.0) and the upgrade of national mental health institutes in Ranchi and Tezpur as regional apex institutions.
The first NIMHANS is located in Bengaluru.
The city's two major health institutions – Central Institute of Psychiatry (CIP), run by central government, and Ranchi Institute of Neuro-Psychiatry and Allied Sciences (RINPAS), state-owned institution – have been serving as premier centres for psychiatric care, research, and rehabilitation for over 100 years.
CIP authorities have expressed happiness over the announcement and said they had been demanding the institute’s upgrade on the lines of NIMHANS.
The institute was established by the British on May 17, 1918 with the name of Ranchi European Lunatic Asylum.
16:11 (IST) Feb 01
Budget 2026 live: Union Budget allocates Rs 6,000 crore for Census 2027
The Union Budget allocated Rs 6,000 crore for Census 2027, with the 16th edition of the mega population head count slated to begin on April 1 after a delay of almost six years because of the Covid outbreak.
The Budget Estimates for 2026-27 presented in Parliament by Finance Minister Nirmala Sitharaman earmarked Rs 6,000 crore for the Census, Survey and Statistics/Registrar General of India (RGI), which is almost a six-fold increase from the Rs 1,040 crore allotted in the Revised Estimates for 2025-26.
“It includes provisions for the office of the Registrar General and Census Commissioner of India and various schemes of the RGI, including the National Population Register (NPR) and expenditure on Census 2027,” the Budget document said.
The Census will be carried out in 2027 with the reference date of October 1, 2026, in snow-bound areas like Ladakh, and of March 1, 2027, in the rest of the country.
“The reference date for the said Census shall be 00.00 hours of the first day of March 2027, except for the Union territory of Ladakh and snow-bound non-synchronous areas of the Union territory of Jammu and Kashmir and the states of Himachal Pradesh and Uttarakhand,” a government notification said last year.
In respect of Ladakh and the snow-bound non-synchronous areas, the reference date shall be 00:00 hours of the first day of October 2026, it said.
The massive exercise to collect population-related data from across the country will be carried out by about 30 lakh enumerators and supervisors and around 1.3 lakh census functionaries armed with digital devices.
The decadal exercise, which was scheduled to take place in 2021, was postponed due to the Covid-19 outbreak.
The Census, which will also include caste enumeration this time, is a two-phase exercise – in Phase-1, i.e., Houselisting Operation (HLO), the housing conditions, assets and amenities of each household will be collected.
In Phase -2, i.e., Population Enumeration (PE), the demographic, socio-economic, cultural and other details of every person in each household will be collected, which is scheduled for February 1, 2027.
The Budget Estimates for 2026-27 presented in Parliament by Finance Minister Nirmala Sitharaman earmarked Rs 6,000 crore for the Census, Survey and Statistics/Registrar General of India (RGI), which is almost a six-fold increase from the Rs 1,040 crore allotted in the Revised Estimates for 2025-26.
“It includes provisions for the office of the Registrar General and Census Commissioner of India and various schemes of the RGI, including the National Population Register (NPR) and expenditure on Census 2027,” the Budget document said.
The Census will be carried out in 2027 with the reference date of October 1, 2026, in snow-bound areas like Ladakh, and of March 1, 2027, in the rest of the country.
“The reference date for the said Census shall be 00.00 hours of the first day of March 2027, except for the Union territory of Ladakh and snow-bound non-synchronous areas of the Union territory of Jammu and Kashmir and the states of Himachal Pradesh and Uttarakhand,” a government notification said last year.
In respect of Ladakh and the snow-bound non-synchronous areas, the reference date shall be 00:00 hours of the first day of October 2026, it said.
The massive exercise to collect population-related data from across the country will be carried out by about 30 lakh enumerators and supervisors and around 1.3 lakh census functionaries armed with digital devices.
The decadal exercise, which was scheduled to take place in 2021, was postponed due to the Covid-19 outbreak.
The Census, which will also include caste enumeration this time, is a two-phase exercise – in Phase-1, i.e., Houselisting Operation (HLO), the housing conditions, assets and amenities of each household will be collected.
In Phase -2, i.e., Population Enumeration (PE), the demographic, socio-economic, cultural and other details of every person in each household will be collected, which is scheduled for February 1, 2027.
16:08 (IST) Feb 01
Summary of last 5 Budgets
15:55 (IST) Feb 01
The only change made in STT (Securities transaction tax) is in the future and options. All the other STT rates remain the same. The primary objective of raising the tax rates on STT has been that it is felt that when you look at the volume of transactions in futures and options, whether you compare it to the size of GDP or size of the underlying securities market, it is largely in the realm of heavy speculation, which results in losses to small retail, unsophisticated investors. The government's intention is to discourage speculative tendencies. And the increase in rate is essentially in that direction. So it is meant to essentially handle the systemic risk in derivative markets. Even after this increase, however, the rates of STT will remain modest compared to the volume of the transactions that is happening there.
Arvind Shrivastava, secretary, department of revenue, ministry of finance
15:45 (IST) Feb 01
Nothing for common man, Bengal in 'directionless' Union Budget: Mamata Bannerjee
West Bengal chief minister Mamata Banerjee on Sunday described the Union Budget for 2026-27 as “directionless and visionless”, claiming that it had nothing to offer to the common man and her state.
Speaking to reporters at Kolkata airport before leaving for New Delhi, Banerjee also alleged that allocation for key sectors had been slashed in the Budget.
“This Budget is directionless, visionless, actionless and anti-people. It is also anti-women, anti-farmer, anti-education and against the SC, ST and OBC... There is nothing on offer for Bengal in the Budget," she said.
“Education funds and subsidy have been slashed, along with social security subsidy and fertiliser subsidy. This is a garbage of lies... of Himalayan incompetence. The economy will be totally derailed,” the CM claimed.
Banerjee asserted that the impact of the Budget was visible in the way the stock market reacted. “The Sensex went down by over 1,100 points, the Nifty 50 went below 25,000. You can clearly see the impact,” she said.
“For West Bengal, what have they given (in the Budget)? Nothing. They talk big, but offer nothing,” Banerjee alleged.
Referring to proposals related to infrastructure, Banerjee said the Centre “merely repeated” projects already announced.
“The freight corridor was mentioned in my Railway Budget in 2009. I had mentioned Dankuni and Amritsar. There has been no spending on this for the last 15 years,” she claimed.
“And, we have already announced six economic corridors. What they said about the three corridors is a lie,” the chief minister asserted. Banerjee said “investment was already flowing” into projects such as the 'Jungle Sundari' economic corridor in Purulia.
Speaking to reporters at Kolkata airport before leaving for New Delhi, Banerjee also alleged that allocation for key sectors had been slashed in the Budget.
“This Budget is directionless, visionless, actionless and anti-people. It is also anti-women, anti-farmer, anti-education and against the SC, ST and OBC... There is nothing on offer for Bengal in the Budget," she said.
“Education funds and subsidy have been slashed, along with social security subsidy and fertiliser subsidy. This is a garbage of lies... of Himalayan incompetence. The economy will be totally derailed,” the CM claimed.
Banerjee asserted that the impact of the Budget was visible in the way the stock market reacted. “The Sensex went down by over 1,100 points, the Nifty 50 went below 25,000. You can clearly see the impact,” she said.
“For West Bengal, what have they given (in the Budget)? Nothing. They talk big, but offer nothing,” Banerjee alleged.
Referring to proposals related to infrastructure, Banerjee said the Centre “merely repeated” projects already announced.
“The freight corridor was mentioned in my Railway Budget in 2009. I had mentioned Dankuni and Amritsar. There has been no spending on this for the last 15 years,” she claimed.
“And, we have already announced six economic corridors. What they said about the three corridors is a lie,” the chief minister asserted. Banerjee said “investment was already flowing” into projects such as the 'Jungle Sundari' economic corridor in Purulia.
15:38 (IST) Feb 01
'Sankalp se siddhi for Viksit Bharat 2047': BJP president Nitin Nabin hails Budget for proposals in manufacturing sector
BJP national president Nitin Nabin hailed Union Budget 2026-27, calling it a 'Sankalp se siddhi' (accomplishment through resolution) for Viksit Bharat 2047. Nitin Nabin lauded the proposals in the manufacturing sector and said that they will create new avenues for employment.
The BJP chief said, "I welcome the budget drafted in Kartavya Bhavan. Finance Minister Nirmala Sitharaman, presenting the budget for the ninth time reflect BJP's policy sustainability and good governance. This budget signifies public trust for Prime Minister Modi. PM Modi's principle of 'Sabka Sath, Sabka Vikas' is reflected in the budget. Also, this is a 'Sankalp se siddhi' budget for Viksit Bharat 2047," Nitin Nabin said.
"Even amid global turmoil, India is growing at 7 per cent. This shows how we have strengthened our GDP and controlled inflation. There is a depth in the budget. This is a youth-driven budget. Manufacturing units are being promoted, and new avenues of employment are being created. Rs 40,000 crore in semiconductor and Rs 10,000 crore in bio pharma reflects the mindset that we are heading towards new avenues of employment," he added.
The BJP chief said, "I welcome the budget drafted in Kartavya Bhavan. Finance Minister Nirmala Sitharaman, presenting the budget for the ninth time reflect BJP's policy sustainability and good governance. This budget signifies public trust for Prime Minister Modi. PM Modi's principle of 'Sabka Sath, Sabka Vikas' is reflected in the budget. Also, this is a 'Sankalp se siddhi' budget for Viksit Bharat 2047," Nitin Nabin said.
"Even amid global turmoil, India is growing at 7 per cent. This shows how we have strengthened our GDP and controlled inflation. There is a depth in the budget. This is a youth-driven budget. Manufacturing units are being promoted, and new avenues of employment are being created. Rs 40,000 crore in semiconductor and Rs 10,000 crore in bio pharma reflects the mindset that we are heading towards new avenues of employment," he added.
15:37 (IST) Feb 01
Budget 2026 live: Rs 4,551 cr for I-B ministry; funds for Prasar Bharati, to support radio movement
The information and broadcasting ministry has been allocated Rs 4,551.94 crore in the Union Budget, with a significant share earmarked for Prasar Bharati, India’s public broadcaster, along with funds for talent development in animation, visual effects and gaming, and support for the community radio movement.
In the Budget for 2026–27 presented by Union finance minister Nirmala Sitharaman in the Lok Sabha on Sunday, Rs 1,476.83 crore has been allocated for information and publicity, up from the revised estimate of Rs 1,207.67 crore in 2025–26.
The ministry’s overall allocation of Rs 4,551.94 crore, however, is lower than the revised estimate of Rs 6,103.02 crore for 2025–26.
Prasar Bharati has been allotted Rs 2,291.88 crore for the coming financial year, with the funds to be used for salaries, pensions and other operational expenses.
The Budget also provides for expenditure on government media units such as the Central Bureau of Communication, Press Information Bureau, Publications Division, New Media Wing and the Electronic Media Monitoring Centre, among others.
An amount of Rs 509.24 crore has been earmarked for the Broadcasting Infrastructure Network Development scheme, compared with a revised estimate of Rs 550 crore in 2025–26.
Implemented through Prasar Bharati, the scheme focuses on the digitalisation and FMisation of the All India Radio network, upgrading the capacity of the DTH platform to carry more channels, and enhancing the overall viewing experience.
15:35 (IST) Feb 01
'School education ignored in Budget 2026–27,' says Unesco health & education expert
Dr Rahul Mehra, National Representative of India at the Unesco Chair for Global Health & Education and Executive Chairman of Tarang Health Alliance, expressed disappointment over the lack of focus on school education in the Union Budget, calling it a sign of the sector’s declining priority.
“In a budget document running over 15,000 words, there is no mention of school education. This is deeply disappointing and reflects the diminishing importance accorded to the sector,” he said. “Despite clear recommendations from the NEP 2020 and UNESCO to allocate 6 per cent of India’s GDP to school education, the sector continues to be grossly underfunded.”
Dr Mehra said the core objective of school education is to improve both quality and access, yet basic learning outcomes remain unmet. “The NEP envisions a holistic education model that integrates core subjects with health education and life skills, but these critical elements receive minimal attention. While pedagogy reforms are highlighted, teacher development continues to be severely underfunded,” he noted.
He added that the education allocation in the Budget for 2026–27 reflects a status quo approach and falls short of the transformational investment needed to strengthen India’s school education system.
“In a budget document running over 15,000 words, there is no mention of school education. This is deeply disappointing and reflects the diminishing importance accorded to the sector,” he said. “Despite clear recommendations from the NEP 2020 and UNESCO to allocate 6 per cent of India’s GDP to school education, the sector continues to be grossly underfunded.”
Dr Mehra said the core objective of school education is to improve both quality and access, yet basic learning outcomes remain unmet. “The NEP envisions a holistic education model that integrates core subjects with health education and life skills, but these critical elements receive minimal attention. While pedagogy reforms are highlighted, teacher development continues to be severely underfunded,” he noted.
He added that the education allocation in the Budget for 2026–27 reflects a status quo approach and falls short of the transformational investment needed to strengthen India’s school education system.
15:22 (IST) Feb 01
Semiconductor mission had 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. We have also announced establishing rare earth corridors so that India can face and be able to meet its own requirements with its materials. So once we identify and are able to 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.
Finance minister Nirmala Sitharaman
15:19 (IST) Feb 01
'Will ensure that technology is brought in to benefit the common man': FM Sitharaman
Union Finance minister Nirmala Sitharaman said, "We are laying the path and giving a push to the economy to maintain the growth momentum and for that growth momentum or sustained economic growth which we want to ensure. Primarily, we are looking at building the ecosystem with structural reforms, which will go on. 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 enough environment for improving productivity and making sure employment is generated. 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."
15:15 (IST) Feb 01
Union budget proposes rare earth corridors in Odisha, Kerala, AP and TN: Sitharaman
15:10 (IST) Feb 01
Budget 2026 live: Highways ministry budget increased to Rs 3.09 lakh crore for FY27
The government allocated Rs 3.09 lakh crore to the Ministry of Road Transport and Highways for 2026–27, marking an increase of about 8 per cent over the Rs 2.87 lakh crore provided in the current financial year.
Presenting the Union Budget, Finance Minister Nirmala Sitharaman also proposed raising the allocation to the National Highways Authority of India (NHAI) to Rs 1.87 lakh crore, up from Rs 1.70 lakh crore last year.
A senior government official said NHAI plans to bring down its debt to below Rs 2 lakh crore by the end of the current financial year in March.
NHAI’s debt had peaked at Rs 3.5 lakh crore in 2021–22. As of December 31, 2025, its outstanding debt stands at Rs 2.35 lakh crore.
Presenting the Union Budget, Finance Minister Nirmala Sitharaman also proposed raising the allocation to the National Highways Authority of India (NHAI) to Rs 1.87 lakh crore, up from Rs 1.70 lakh crore last year.
A senior government official said NHAI plans to bring down its debt to below Rs 2 lakh crore by the end of the current financial year in March.
NHAI’s debt had peaked at Rs 3.5 lakh crore in 2021–22. As of December 31, 2025, its outstanding debt stands at Rs 2.35 lakh crore.
15:08 (IST) Feb 01
Budgeted capex of Rs 12.2 lakh crore in FY27 is 4.4%of GDP, highest-ever: FM Nirmala Sitharaman at post-budget conference
15:03 (IST) Feb 01
'We are laying path to maintain growth momentum': Sitharaman on Union Budget
Union finance minister Nirmala Sitharaman says, "... We are laying the path and giving a push to the economy to maintain the growth momentum and for that growth momentum or sustained economic growth which we want to ensure. Primarily, we are looking at building the ecosystem with structural reforms, which will go on."
"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 enough environment for improving productivity and making sure employment is generated. 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..." she added.
"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 enough environment for improving productivity and making sure employment is generated. 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..." she added.
14:50 (IST) Feb 01
Union Budget 2026–27: Finance minister Sitharaman addresses nation post budget presentation
14:48 (IST) Feb 01
'Budget underscores India’s commitment to a structural reform-led economic roadmap': Dr Reddy's Laboratories Ltd
Satish Reddy, chairman of Dr Reddy's Laboratories Limited said that Union Budget 2026 underscores India’s commitment to a structural reform-led economic roadmap.
"The Union Budget 2026 underscores India’s commitment to a structural reform-led economic roadmap, driven by three core ‘kartavyas’ (duties) of sustained growth, fulfilling aspirations, and advancing the vision of inclusive progress. Notably, the pharmaceutical sector was the first to be highlighted in the finance minister’s presentation, signalling its strategic importance. The emphasis on biologics and biosimilars is particularly timely, as India is at the cusp of taking a global lead in this space. The Rs 10,000-crore Biopharma Shakti programme will be a key enabler for India’s journey from volume to value leadership, helping the country move from being a global supplier of quality medicines to becoming a global innovator. Alongside the expansion of the national clinical trials network and strengthening of the CDSCO with specialised scientific review and globally aligned timelines, these initiatives will enhance India’s capacity to develop complex, high-value therapies," he said.
"The addition of new NIPERs and the upgrading of existing ones will expand opportunities for advanced scientific education and skills development, building the talent pipeline essential for innovation-led growth. Recognising the rising burden of non-communicable diseases, particularly cancer, the budget also provides direct relief for patients by exempting basic customs duty on 17 cancer drugs and medicines and extending import duty exemptions to seven additional rare diseases. Combined with regulatory simplification through central–state coordination, these measures are set to strengthen India’s biopharma ecosystem while ensuring patients in India and across the world continue to have access to affordable, high-quality medicines. We look forward to studying the detailed budget to further understand its impact on the pharmaceutical sector," he added.
"The Union Budget 2026 underscores India’s commitment to a structural reform-led economic roadmap, driven by three core ‘kartavyas’ (duties) of sustained growth, fulfilling aspirations, and advancing the vision of inclusive progress. Notably, the pharmaceutical sector was the first to be highlighted in the finance minister’s presentation, signalling its strategic importance. The emphasis on biologics and biosimilars is particularly timely, as India is at the cusp of taking a global lead in this space. The Rs 10,000-crore Biopharma Shakti programme will be a key enabler for India’s journey from volume to value leadership, helping the country move from being a global supplier of quality medicines to becoming a global innovator. Alongside the expansion of the national clinical trials network and strengthening of the CDSCO with specialised scientific review and globally aligned timelines, these initiatives will enhance India’s capacity to develop complex, high-value therapies," he said.
"The addition of new NIPERs and the upgrading of existing ones will expand opportunities for advanced scientific education and skills development, building the talent pipeline essential for innovation-led growth. Recognising the rising burden of non-communicable diseases, particularly cancer, the budget also provides direct relief for patients by exempting basic customs duty on 17 cancer drugs and medicines and extending import duty exemptions to seven additional rare diseases. Combined with regulatory simplification through central–state coordination, these measures are set to strengthen India’s biopharma ecosystem while ensuring patients in India and across the world continue to have access to affordable, high-quality medicines. We look forward to studying the detailed budget to further understand its impact on the pharmaceutical sector," he added.
14:43 (IST) Feb 01
In the Union Budget 2026, the Section 87A tax rebate unchanged, disappointing taxpayers who had hoped for an increase to boost consumption and ease the burden on middle-income individuals.
Thus, like for FY 2025-26, under the new tax regime, resident individuals with net taxable income up to Rs 12 lakh can continue to claim a maximum rebate of Rs 60,000, effectively reducing their tax liability to zero on regular income up to that limit.
The rebate remains only available to resident individuals. Hindu Undivided Families (HUFs), Non-Resident Indians (NRIs), companies, and super senior citizens are not eligible to claim this benefit.
Thus, like for FY 2025-26, under the new tax regime, resident individuals with net taxable income up to Rs 12 lakh can continue to claim a maximum rebate of Rs 60,000, effectively reducing their tax liability to zero on regular income up to that limit.
The rebate remains only available to resident individuals. Hindu Undivided Families (HUFs), Non-Resident Indians (NRIs), companies, and super senior citizens are not eligible to claim this benefit.
14:35 (IST) Feb 01
Union Budget 2026–27: Opposition calls budget a 'total disappointment'
‘Did not hear the name of Kerala’: Tharoor
Congress MP Shashi Tharoor expressed disappointment that Kerala did not figure prominently in the Union Budget 2026–27. Speaking to reporters in the Parliament complex shortly after finance minister Nirmala Sitharaman presented the Budget, Tharoor said the speech lacked detail and failed to address long-pending demands of the state.
“Details are very few, just three or four headlines. We were waiting for the All-India Institute of Ayurveda. Where is it? We wanted it in Kerala, which has a long tradition of Ayurveda, but I did not hear the name of Kerala,” he said.
Tharoor also flagged concerns over the absence of targeted announcements for key sectors such as coconut cultivation, fisheries and ship repair. “Kerala is the largest coconut-producing state. In fisheries too, there should have been some benefit. When Varanasi and Patna were mentioned for ship repairing, there was nothing for Kerala. That is a little surprising,” he said, adding that he would study the Budget documents in detail.
Venugopal calls budget a ‘total disappointment’
Congress leader and Lok Sabha MP K C Venugopal echoed similar sentiments, saying Kerala had once again been ignored despite its contribution to sectors such as tourism, aviation and healthcare.
“This Budget is a total disappointment for Kerala. For the last 10 years, promises have been made about an AIIMS for the state, but there is no mention of it even this time,” the Alappuzha MP said.
He alleged that several announcements appeared skewed towards select regions and big corporates. “This Budget is not for the common people; it is for large corporates,” Venugopal said.
Tharoor flags unemployment concerns
Earlier in the day, ahead of the Budget presentation, Tharoor had highlighted the issue of unemployment, warning that economic growth without job creation would not benefit young people.
“The Economic Survey presents good growth numbers, but the real question is whether this growth will generate jobs. Jobless growth does not help anyone,” he said, adding that with Assembly elections approaching in Kerala, expectations from the Budget were high. Kerala and Tamil Nadu are both scheduled to go to the polls later this year.
Congress MP Shashi Tharoor expressed disappointment that Kerala did not figure prominently in the Union Budget 2026–27. Speaking to reporters in the Parliament complex shortly after finance minister Nirmala Sitharaman presented the Budget, Tharoor said the speech lacked detail and failed to address long-pending demands of the state.
“Details are very few, just three or four headlines. We were waiting for the All-India Institute of Ayurveda. Where is it? We wanted it in Kerala, which has a long tradition of Ayurveda, but I did not hear the name of Kerala,” he said.
Tharoor also flagged concerns over the absence of targeted announcements for key sectors such as coconut cultivation, fisheries and ship repair. “Kerala is the largest coconut-producing state. In fisheries too, there should have been some benefit. When Varanasi and Patna were mentioned for ship repairing, there was nothing for Kerala. That is a little surprising,” he said, adding that he would study the Budget documents in detail.
Venugopal calls budget a ‘total disappointment’
Congress leader and Lok Sabha MP K C Venugopal echoed similar sentiments, saying Kerala had once again been ignored despite its contribution to sectors such as tourism, aviation and healthcare.
“This Budget is a total disappointment for Kerala. For the last 10 years, promises have been made about an AIIMS for the state, but there is no mention of it even this time,” the Alappuzha MP said.
He alleged that several announcements appeared skewed towards select regions and big corporates. “This Budget is not for the common people; it is for large corporates,” Venugopal said.
Tharoor flags unemployment concerns
Earlier in the day, ahead of the Budget presentation, Tharoor had highlighted the issue of unemployment, warning that economic growth without job creation would not benefit young people.
“The Economic Survey presents good growth numbers, but the real question is whether this growth will generate jobs. Jobless growth does not help anyone,” he said, adding that with Assembly elections approaching in Kerala, expectations from the Budget were high. Kerala and Tamil Nadu are both scheduled to go to the polls later this year.
14:29 (IST) Feb 01
Opposition playing politics: Kiren Rijiju hails Union Budget as people-centric
Union minister Kiren Rijiju accused the opposition of politicising finance minister Nirmala Sitharaman’s Union Budget 2026 speech, asserting that the Budget was focused on the interests of the common man and the country’s development.
Calling the Budget a “Reform Express for Viksit Bharat”, Rijiju said he was fully satisfied with the announcements, which he claimed were aimed at broad-based growth.
“All these announcements are for the common people of the country. What can be done if the Opposition does not consider itself as part of the common people? Will the infrastructure being developed not be used by the Opposition? Are they not Indians that they are unhappy? If they criticise this Budget, it is only because of politics. The focus of this Budget is growth and development,” Rijiju said.
In a separate statement, the Finance Ministry said the Union Budget 2026 is the first to be prepared in Kartavya Bhawan and is inspired by three “Kartavyas” (duties).
According to the ministry, the first kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. The second kartavya is to fulfil the aspirations of the people by strengthening their capacities and making them active partners in India’s journey towards prosperity. The third kartavya, aligned with the vision of Sabka Saath, Sabka Vikas, is to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation.
On the fiscal front, non-debt receipts and total expenditure in the Budget Estimates (BE) for 2026–27 are pegged at Rs 36.5 lakh crore and Rs 53.5 lakh crore, respectively. The Centre’s net tax receipts are estimated at Rs 28.7 lakh crore.
Gross market borrowings are estimated at Rs 17.2 lakh crore, while net market borrowings from dated securities are pegged at Rs 11.7 lakh crore. The Revised Estimates (RE) for non-debt receipts stand at Rs 34 lakh crore, including Rs 26.7 lakh crore in net tax receipts.
Total expenditure in the RE for 2025–26 is estimated at Rs 49.6 lakh crore, with capital expenditure of about Rs 11 lakh crore.
The fiscal deficit for 2026–27 is projected at 4.3 per cent of GDP, compared with 4.4 per cent of GDP in the RE for 2025–26. The debt-to-GDP ratio is estimated to decline to 55.6 per cent in 2026–27 from 56.1 per cent in 2025–26.
Calling the Budget a “Reform Express for Viksit Bharat”, Rijiju said he was fully satisfied with the announcements, which he claimed were aimed at broad-based growth.
“All these announcements are for the common people of the country. What can be done if the Opposition does not consider itself as part of the common people? Will the infrastructure being developed not be used by the Opposition? Are they not Indians that they are unhappy? If they criticise this Budget, it is only because of politics. The focus of this Budget is growth and development,” Rijiju said.
In a separate statement, the Finance Ministry said the Union Budget 2026 is the first to be prepared in Kartavya Bhawan and is inspired by three “Kartavyas” (duties).
According to the ministry, the first kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics. The second kartavya is to fulfil the aspirations of the people by strengthening their capacities and making them active partners in India’s journey towards prosperity. The third kartavya, aligned with the vision of Sabka Saath, Sabka Vikas, is to ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation.
On the fiscal front, non-debt receipts and total expenditure in the Budget Estimates (BE) for 2026–27 are pegged at Rs 36.5 lakh crore and Rs 53.5 lakh crore, respectively. The Centre’s net tax receipts are estimated at Rs 28.7 lakh crore.
Gross market borrowings are estimated at Rs 17.2 lakh crore, while net market borrowings from dated securities are pegged at Rs 11.7 lakh crore. The Revised Estimates (RE) for non-debt receipts stand at Rs 34 lakh crore, including Rs 26.7 lakh crore in net tax receipts.
Total expenditure in the RE for 2025–26 is estimated at Rs 49.6 lakh crore, with capital expenditure of about Rs 11 lakh crore.
The fiscal deficit for 2026–27 is projected at 4.3 per cent of GDP, compared with 4.4 per cent of GDP in the RE for 2025–26. The debt-to-GDP ratio is estimated to decline to 55.6 per cent in 2026–27 from 56.1 per cent in 2025–26.
14:18 (IST) Feb 01
Union Budget 2026: Govt proposes Rs 5,000 crore allocation for city economic regions
Nirmala Sitharaman announced a major push to boost urban growth, proposing the development of City Economic Regions (CERs) with an allocation of Rs 5,000 crore per region over five years.
Presenting the Union Budget in the Lok Sabha, Sitharaman described cities as India’s engines of growth, innovation and opportunity. She said the new initiative would focus on Tier II and Tier III cities, as well as temple towns, which require modern infrastructure and improved basic amenities.
The Budget, she said, seeks to unlock the economic potential of urban agglomerations by mapping CERs based on their specific growth drivers. The proposed funding will be disbursed through a “challenge mode”, backed by a reform-cum-results-based financing mechanism.
“An allocation of Rs 5,000 crore per CER over five years is proposed for implementing their plans through a challenge mode,” Sitharaman said.
Highlighting the government’s urban infrastructure push over the past decade, the finance minister said several initiatives have been undertaken to significantly enhance public infrastructure, including the use of new financing instruments such as Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs), along with institutions like NIIF and NABFID.
She added that the government will continue to prioritise infrastructure development in cities with populations of over five lakh, particularly Tier II and Tier III cities, which have increasingly emerged as key growth centres.
Presenting the Union Budget in the Lok Sabha, Sitharaman described cities as India’s engines of growth, innovation and opportunity. She said the new initiative would focus on Tier II and Tier III cities, as well as temple towns, which require modern infrastructure and improved basic amenities.
The Budget, she said, seeks to unlock the economic potential of urban agglomerations by mapping CERs based on their specific growth drivers. The proposed funding will be disbursed through a “challenge mode”, backed by a reform-cum-results-based financing mechanism.
“An allocation of Rs 5,000 crore per CER over five years is proposed for implementing their plans through a challenge mode,” Sitharaman said.
Highlighting the government’s urban infrastructure push over the past decade, the finance minister said several initiatives have been undertaken to significantly enhance public infrastructure, including the use of new financing instruments such as Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs), along with institutions like NIIF and NABFID.
She added that the government will continue to prioritise infrastructure development in cities with populations of over five lakh, particularly Tier II and Tier III cities, which have increasingly emerged as key growth centres.
14:07 (IST) Feb 01
This budget is a highway of boundless opportunities. This budget brings the dreams of the present to life and strengthens the foundation of India's bright future. This budget is the solid foundation for our high-flying aspirations of a developed India by 2047.
Prime Minister Narendra Modi
100 More Updates
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026–27 in Parliament on Sunday, marking her ninth consecutive Budget presentation. She announced a nearly 9 per cent increase in capital expenditure, raising the allocation to Rs 12.2 lakh crore for the coming financial year, up from Rs 11.21 lakh crore in FY26. The higher capex aims to sustain momentum in infrastructure development and support economic growth.
Highlighting a decade of rising public investment, Sitharaman noted that capital expenditure has increased from Rs 2 lakh crore in 2014–15 to Rs 11.2 lakh crore in 2025–26. Initiatives such as Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), the National Investment and Infrastructure Fund (NIIF), and NaBFID have facilitated infrastructure financing, particularly in tier-2 and tier-3 cities. To encourage private participation, the government proposed an infrastructure risk guarantee fund to provide partial credit guarantees to lenders, reducing risk perception in projects.
On financial markets, Sitharaman raised the Securities Transaction Tax (STT) on futures to 0.05 per cent, and on options premium and exercise to 0.15 per cent, aiming to moderate speculative derivative trading. She also announced capital gains taxation on share buybacks, with higher rates for corporate and non-corporate promoters.
In healthcare, the government will support the creation of five regional medical tourism hubs, alongside three new All India Institutes of Ayurveda, upgrades to the WHO Global Traditional Medicine Centre in Jamnagar, and a loan-linked veterinary infrastructure subsidy. Integrated healthcare services under the Ayushman Bharat Health Infrastructure Mission will combine modern hospitals, diagnostics, rehabilitation, and AYUSH systems.
The Budget also highlighted eco-tourism and nature-based travel, with mountain trails in Himachal Pradesh, Uttarakhand, Jammu and Kashmir, Araku Valley, and the Western Ghats, as well as turtle nesting and bird-watching trails in Odisha, Karnataka, and Kerala. Tourism-focused initiatives include a National Institute of Hospitality, upskilling 10,000 guides, and a national digital platform documenting India’s cultural, spiritual, and heritage sites.
Overall, the Union Budget 2026–27 seeks to drive infrastructure-led growth, promote financial market stability, enhance healthcare and medical tourism, and boost employment and sustainable tourism.
Highlighting a decade of rising public investment, Sitharaman noted that capital expenditure has increased from Rs 2 lakh crore in 2014–15 to Rs 11.2 lakh crore in 2025–26. Initiatives such as Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), the National Investment and Infrastructure Fund (NIIF), and NaBFID have facilitated infrastructure financing, particularly in tier-2 and tier-3 cities. To encourage private participation, the government proposed an infrastructure risk guarantee fund to provide partial credit guarantees to lenders, reducing risk perception in projects.
On financial markets, Sitharaman raised the Securities Transaction Tax (STT) on futures to 0.05 per cent, and on options premium and exercise to 0.15 per cent, aiming to moderate speculative derivative trading. She also announced capital gains taxation on share buybacks, with higher rates for corporate and non-corporate promoters.
In healthcare, the government will support the creation of five regional medical tourism hubs, alongside three new All India Institutes of Ayurveda, upgrades to the WHO Global Traditional Medicine Centre in Jamnagar, and a loan-linked veterinary infrastructure subsidy. Integrated healthcare services under the Ayushman Bharat Health Infrastructure Mission will combine modern hospitals, diagnostics, rehabilitation, and AYUSH systems.
The Budget also highlighted eco-tourism and nature-based travel, with mountain trails in Himachal Pradesh, Uttarakhand, Jammu and Kashmir, Araku Valley, and the Western Ghats, as well as turtle nesting and bird-watching trails in Odisha, Karnataka, and Kerala. Tourism-focused initiatives include a National Institute of Hospitality, upskilling 10,000 guides, and a national digital platform documenting India’s cultural, spiritual, and heritage sites.
Overall, the Union Budget 2026–27 seeks to drive infrastructure-led growth, promote financial market stability, enhance healthcare and medical tourism, and boost employment and sustainable tourism.
Trending
Explore Every Corner
Across The Globe
RR vs GT HighlightsIran War NewsMumbai Deccan Express DelayGhaziabad Student MurderShubman GillVaibhav SooryavanshiUS Immigrants Track WebsiteNagpur Couple DeathShubman Gill IPL HistoryVinesh PhogatKarachi Water ShortageDK ShivakumarJason HolderIPL Orange and Purple CapIPL 2026AP SBTET Diploma Results 2026TGSWRJC CET Results 2026UAE Strikes IranUK Sikh PIO MurderKavankumar PatelDonald TrumpKarnak TempleMexico Indian Woman AccidentAnaheim DucksOrange CapIga SwiatekCalcutta University resultNFL Trade RumorsCoco GauffMichael Schumacher
Hot on the Web
Salman KhanVishalAjith KumarPriya KapurCM VijayRanveer SinghFart WalkBlast ReviewMaya JamaBrown TrailerImitiaz AliArun GovilSushmita SenDrishyam 3 Box Office CollectionMahima ChaudharyDhurandhar Television PremiereSai PallaviRakhi SawantChand Mera Dil Box Office CollectionKattalan ReviewAishwarya Rai BachchanKaruppu Box Office CollectionSonakshi SinhaDeool Band 2 Box Office CollectionGuru Purnima 2026Neeraj Chopra HouseBlast ReviewDhurandhar 2 Box Office CollectionBlast Box Office CollectionHoroscope TodayMahmud Sadis BubaParveen ShaikhUS Powerball LotteryGemini AI Prompts For EidOla Compensation CaseINS KolkataNyt ConnectionsOperation Sindoor 2.0Jellyfish That Never DiesBlue Origin Rocket ExplodingDelivery Firm Refund DeniedCaptions For Instagram Posts
Trending Topics
DK ShivakumarDeccan Express engine failureBengaluru Rain HavocDhanendra KumarPunjab Civic PollsCNG Price hikeGandhigram Railway StationWest Bengal RainWhite House New WebsiteUAE Strikes IranIndus Water TreatyGhaziabad Teen MurderGujarat Man Illegal Gambling CaseMaharashtra Cooperative Society RegistrationAhmedabad Jobless Man SuicideT20 World Cup 2026Heatwave North IndiaUK student MurderMohammad YousufEbola bengaluruSiddaramaiahThawarchand GehlotBenjamin NetanyahuSonam WangchukIndia support Nepal SchoolsPinarayi VijayanCockroach Janta PartyDelhi Illegal Animal SacrificeKasauli Forest FireIPL Purple CapJeff Bezos Blue OriginSundar PichaiBill GatesMarc BenioffAnthropic Beats OpenAIElon Musk Sorry To Jeff BezosHack Of The DayStarbucks AI Inventory ToolGarena Free Fire MAX Redeem CodesPeroxide CodesGenshin Impact Codes
Popular Categories
HeadlinesSports NewsBusiness NewsIndia NewsWorld NewsInternational SportsHealthIndian TV ShowsTechnologyTravelEtimesAstrologyDeorhiAutoTechnology NewsGold Rate TodayWeather TodaySilver Price TodayDelhi Weather TodayPetrol Price TodayDiesel Price TodayCNG Price TodayLPG Price TodayPetrol Price MumbaiDelhi AQIIs Bank Open TodayMumbai AQI TodayIs Bank Open TomorrowPublic Holidays in MayBank Holidays in May
Trending Videos
Russia's FSB Arrests Infiltrators Plotting Explosive Attacks On Key Military HubAs Regional Parties Collapse, Is Congress Finally Leading India’s Opposition Again?Don Jr.'s 'Freebie' Wedding EXPOSED: Billionaire Friends Allegedly Footed Bill For Bahamas Bash?Delhi Police Foils Major Attack Plot, Arrests 9 Linked To ISI-Dawood Ibrahim Terror Network‘Not pointing fingers…’: Pete Hegseth’s witty reply to Pak journo over India’s AGNI-6 ICBM | WatchNuclear Risk Rising! Beijing Unleashes Scathing Attack On US Military ExpansionDoval's Moscow Mission: India-Russia Defence, Energy & Arctic Cooperation In Focus | WatchPaithalattam - Official TrailerTMC Leader Abhishek Banerjee Asked To Appear Before CID Amid Fresh Political StormPaithalattam - Official TeaserInside The New Tata Tiago: A Look At The Latest UpdatesRam Charan And AR Rahman Share Cheerful Moments During Peddi PromotionsFULL SPEECH: Hegseth ‘Throws Punches’ At China’s Xi, Cozies Up To India At Shangri-La DialogueRajat Patidar press conference: On RCB's title push, IPL 2026 final and moreShubman Gill press conference: On IPL final, Sai Sudharsan, GT mindset and more'Pakistan Navy Remained Confined To Its Ports': Rajnath Singh Hails Navy's Role During Op SindoorIndia's Gold Demand Plunges 70% After Import Duty Rises To 15%Trump Health SHOCKER: ‘Hand Bruising, Leg Swelling’ Back In Focus Amid White House Clean Chit
Latest News
Hazaribag man drowns while fishing in lake"Behen Darr Gayi!": Fans relive ‘Bhagam Bhag’ era after watching Akshay Kumar's 'Bhooth Bangla' trailerMBOSE HSLC result 2026 to release tomorrow: Check details hereIran war risk: JPMorgan CEO Jamie Dimon warns of oil shocks, sticky inflation and higher interest ratesMake your clutch last longer with these easy driving tips“Three-against-one situation”: El Rubius opens up on being “targeted” in MrBeast’s viral $1M challengeBihar BTSC lab assistant notification released for 1091 posts at btsc.bihar.gov.in; apply hereIPL craze costs techie Rs 1.46 lakh in fake RCB vs CSK ticket scamRaising “robot-proof” kids: Why creativity and curiosity matter more than everInside ‘Satguru Sharan’: Exploring Saif Ali Khan and Kareena Kapoor Khan’s Rs 100 crore Bandra homeHow selling Alaska in 1867 was a costly mistake for Russia'Hera Pheri 3 is coming': Paresh Rawal dismisses delay reports and reveals he will 'start shooting soon'US-Iran War: A daring rescue Hollywood blockbuster is on its way. Till then, pick your favourite from these 10 films on bringing someone home against all oddsKolkata team unveils fan mural at Rash Behari Avenue, celebrating city’s first loveHow US spread a lie to rescue a pilot of a jet shot down in IranNetflix unveils ‘VOID’, an AI model that can change a movie plotAI data centers are causing 'stress' not just to tech companies, but also private insurers"Trans women are.....": Clavicular’s viral moment with trans women sparks fresh conversation on internet culture
Copyright © 2026 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service