- 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.
14:07 (IST) Feb 01
Union Budget 2026: 'Today's budget is historic,' says PM Modi
14:04 (IST) Feb 01
Union Budget reflects aspirations of 140 crore Indians, charts Viksit Bharat roadmap: PM Modi
Prime Minister Narendra Modi said, "The Union Budget reflects the aspirations of 140 crore Indians. It strengthens the reform journey and charts a clear roadmap for Viksit Bharat."
14:04 (IST) Feb 01
'Will soon become 3rd largest economy': PM Modi hails Union Budget 2026
Prime Minister Narendra Modi described the Union Budget as historic, saying it strongly reflects the empowered role of women in the nation’s progress. He also lauded Finance Minister Nirmala Sitharaman for setting a new record by presenting the country’s budget for the ninth consecutive time.
14:00 (IST) Feb 01
Prime Minister Narendra Modi addresses on Union Budget 2026
13:56 (IST) Feb 01
Union Budget 2026: Budget 2026 lays roadmap for Viksit Bharat, says BJP MP Kamaljeet Sehrawat
BJP MP Kamaljeet Sehrawat on Sunday lauded the Union Budget 2026–27, saying it presents a clear roadmap towards achieving “Viksit Bharat.” She said the Budget places strong emphasis on India’s cultural heritage, the growth of biopharma and medical tourism, and the development of new tourism corridors across the country.
Speaking to ANI, Sehrawat said the Budget reflects the government’s vision for a developed India. “Today’s Budget has been prepared with Viksit Bharat and our cultural heritage in mind. It speaks about positioning India as a biopharma and medical tourism hub and announces tourism corridors. The Budget lays out a roadmap for Viksit Bharat,” she said.
Earlier in the day, Finance Minister Nirmala Sitharaman presented the Union Budget for 2026–27 in the Lok Sabha, marking her ninth consecutive Budget presentation. Describing the Budget as driven by “Yuvashakti” and guided by “three kartavyas,” Sitharaman announced major infrastructure initiatives, including seven high-speed rail corridors, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years.
The Budget also outlined a significant push for environmentally sustainable passenger transport through the development of high-speed rail corridors aimed at reducing travel time, lowering emissions, and supporting regional growth. The proposed routes include Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, Chennai–Bengaluru, Delhi–Varanasi, and Varanasi–Siliguri, connecting key financial, technology and manufacturing hubs with faster and cleaner mobility options.
Speaking to ANI, Sehrawat said the Budget reflects the government’s vision for a developed India. “Today’s Budget has been prepared with Viksit Bharat and our cultural heritage in mind. It speaks about positioning India as a biopharma and medical tourism hub and announces tourism corridors. The Budget lays out a roadmap for Viksit Bharat,” she said.
Earlier in the day, Finance Minister Nirmala Sitharaman presented the Union Budget for 2026–27 in the Lok Sabha, marking her ninth consecutive Budget presentation. Describing the Budget as driven by “Yuvashakti” and guided by “three kartavyas,” Sitharaman announced major infrastructure initiatives, including seven high-speed rail corridors, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years.
The Budget also outlined a significant push for environmentally sustainable passenger transport through the development of high-speed rail corridors aimed at reducing travel time, lowering emissions, and supporting regional growth. The proposed routes include Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, Chennai–Bengaluru, Delhi–Varanasi, and Varanasi–Siliguri, connecting key financial, technology and manufacturing hubs with faster and cleaner mobility options.
13:54 (IST) Feb 01
Budget 2026 live: Brokerage stocks tanks over 18% as Budget hikes STT on commodity futures
Shares of brokerage-related companies plunged sharply on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in securities transaction tax (STT) on commodity futures in the Union Budget 2026–27.
On the BSE, Multi Commodity Exchange (MCX) nosedived 18.08 per cent to Rs 2,068.40. Billion brains Garage Ventures, the parent company of Groww, slid 13 per cent to Rs 154, while IIFL Capital Services fell 10.4 per cent to Rs 296.10.
Angel One dropped 11.84 per cent to Rs 2,237.95, and Anand Rathi Share and Stock Brokers declined 8.05 per cent to Rs 532.15. BSE Ltd also came under heavy selling pressure, tumbling 15 per cent to Rs 2,377.40 on the NSE.
The broader market remained weak as well. The 30-share BSE Sensex fell 911.30 points, or 1.11 per cent, to 81,358.48, while the NSE Nifty declined 282.85 points, or 1.12 per cent, to 25,037.80 in mid-session trade.
The sell-off followed Sitharaman’s proposal to raise STT on commodity futures to 0.05 per cent from 0.02 per cent, a move aimed at mobilising additional revenue but viewed by traders as a potential dampener for market volumes.
Aakash Shah, Technical Research Analyst at Choice Equity Broking, said the higher STT, particularly on futures and options, could act as a marginal negative for foreign portfolio investor (FPI) flows in the near term, especially for high-frequency and derivative-focused global funds.
According to post-Budget updates, STT on futures has been raised from 0.02 per cent to 0.05 per cent, while STT on options premiums has increased from 0.10 per cent to 0.15 per cent, significantly pushing up transaction costs for active trading strategies.
Shah noted that FPIs have already been cautious, with equity outflows of over Rs 41,000 crore in January 2026 alone, amid global risk-off sentiment, elevated US bond yields and currency pressures. A higher STT further erodes post-tax returns, making India relatively less competitive for short-term and derivative-oriented foreign flows, he said.
However, Shah added that for long-only, fundamentally driven FPIs, the STT hike is unlikely to be a deal-breaker, as their decisions are guided more by earnings visibility, currency stability and policy predictability.
13:48 (IST) Feb 01
Union Budget 2026: 'It is a glorious day for all of us,' says Haryana CM
Haryana chief minister Nayab Singh Saini said, "The vision of Prime Minister Modi, his resolve for a developed India by 2047, will see this budget as a milestone in achieving that developed India... This is a visionary and historic document. It is a glorious day for all of us. On this auspicious occasion of Guru Ravidas Jayanti, this budget is truly dedicated to the welfare of the people and the spirit of upliftment of the poorest of the poor. This budget has three main pillars: speed, capacity, and inclusive growth for all..."
13:41 (IST) Feb 01
Union Budget 2026: Centre allocates Rs 7.8 lakh crore to defence ministry
The Centre allocated a budget of Rs 7.8 lakh crore to the defence ministry for the year 2026-27. Defence forces will receive Rs 2.19 lakh crore for modernisation under the Capital Outlay budget.
Overall, the defence ministry will see a 15 percent increase in its budgetary allotment. In FY26-27, there is a 21.84 percent increase in capital outlay hiked from Rs 1.80 lakh crore in FY 25-25 to Rs 2.19 lakh crore.
The defence ministry has major projects in the pipeline, such as contracts for Rafale fighter jets, submarines, and unmanned aerial vehicles.
The Defence budget (civil) has been reduced by 0.45 per cent as compared to last year's Rs 28,554.61 crore.
Meanwhile, the defence services (Revenue) and Capital Outlay were allocated Rs 3,65,478.98 crore and Rs 2,19,306.47 crore, respectively, reflecting jumps of 17.24 per cent and 21.84 per cent.
The allocation for Defence Pensions also saw a rise, with the Centre allotting Rs 1,71,338.22 crore.
In a boost to the defence sector, Union finance minister Nirmala Sitharaman announced, "It is proposed to exempt basic customs duty on raw materials imported for the manufacture of parts of aircraft to be used in maintenance, repair or overall requirements by units in the defence sector."
Meanwhile, in response to the US tariffs, FM Nirmala Sitharaman proposed reducing the tariff rate on all dutiable goods imported for personal use from 20 per cent to 10 per cent.
Overall, the defence ministry will see a 15 percent increase in its budgetary allotment. In FY26-27, there is a 21.84 percent increase in capital outlay hiked from Rs 1.80 lakh crore in FY 25-25 to Rs 2.19 lakh crore.
The defence ministry has major projects in the pipeline, such as contracts for Rafale fighter jets, submarines, and unmanned aerial vehicles.
The Defence budget (civil) has been reduced by 0.45 per cent as compared to last year's Rs 28,554.61 crore.
Meanwhile, the defence services (Revenue) and Capital Outlay were allocated Rs 3,65,478.98 crore and Rs 2,19,306.47 crore, respectively, reflecting jumps of 17.24 per cent and 21.84 per cent.
The allocation for Defence Pensions also saw a rise, with the Centre allotting Rs 1,71,338.22 crore.
In a boost to the defence sector, Union finance minister Nirmala Sitharaman announced, "It is proposed to exempt basic customs duty on raw materials imported for the manufacture of parts of aircraft to be used in maintenance, repair or overall requirements by units in the defence sector."
Meanwhile, in response to the US tariffs, FM Nirmala Sitharaman proposed reducing the tariff rate on all dutiable goods imported for personal use from 20 per cent to 10 per cent.
13:40 (IST) Feb 01
Union Budget 2026: A look at Nirmala Sitharaman’s longest and shortest Budget speeches
Union Finance Minister Nirmala Sitharaman on Sunday presented her ninth consecutive Union Budget in the Lok Sabha, delivering a speech that lasted 1 hour and 25 minutes. The address outlined the government’s fiscal roadmap for 2026–27, including spending plans, tax proposals, and key policy priorities.
With this presentation, Sitharaman further cemented her place in history as the longest-serving finance minister in continuous office. Prime Minister Narendra Modi called the occasion “a moment of pride in India’s parliamentary tradition.” Over the years, her Budget speeches have varied in length and themes, from the record-setting 2020 speech that ran nearly two hours and 39 minutes to last year’s shorter address focused on welfare and growth.
This year’s Budget raised the capital expenditure target to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore, while projecting the fiscal deficit to narrow to 4.3 per cent of GDP. Net tax receipts are estimated at Rs 28.7 lakh crore, and the total Budget size is pegged at Rs 53.5 lakh crore.
Historically, Morarji Desai presented the Union Budget ten times and P. Chidambaram nine times, though Sitharaman is the first to deliver nine consecutive Budgets.
Read full story13:37 (IST) Feb 01
Union Budget 2026: Crisil offers insight into 'container manufacturing'
"Container manufacturing is dominated by China (~95% share). A dedicated Rs 10,000 crore assistance will provide a good base to propel domestic investments and manufacturing in this space. This is a labour-intensive industry and needs something called as Corten steel. This will help India create footprint in global trade and bring down the dependence on China for the vital boxes," said Crisil.
13:33 (IST) Feb 01
Budget 2026: Govt to train 1 lakh allied health professionals over five years
The government on Sunday announced plans to train one lakh allied health professionals (AHPs) across multiple disciplines over the next five years, as part of efforts to strengthen India’s healthcare workforce.
Presenting the Union Budget in the Lok Sabha, finance minister Nirmala Sitharaman said existing institutions for allied health professionals will be upgraded, while new AHP institutes will be set up in both the government and private sectors. The initiative aims to create new, skilled career pathways for young people in the healthcare sector.
The programme will cover 10 selected disciplines, including optometry, radiology, anaesthesia, operation theatre technology, applied psychology and behavioural health, adding one lakh AHPs over the next five years. Sitharaman said the government will also build a robust care system focusing on geriatric and allied care services.
In addition, the finance minister announced that programmes aligned with the National Skills Qualifications Framework (NSQF) will be developed to train multi-skilled caregivers. These will combine core caregiving with allied skills such as wellness, yoga and the operation of medical assistive devices. She said 1.5 lakh caregivers will be trained in the coming year.
Presenting the Union Budget in the Lok Sabha, finance minister Nirmala Sitharaman said existing institutions for allied health professionals will be upgraded, while new AHP institutes will be set up in both the government and private sectors. The initiative aims to create new, skilled career pathways for young people in the healthcare sector.
The programme will cover 10 selected disciplines, including optometry, radiology, anaesthesia, operation theatre technology, applied psychology and behavioural health, adding one lakh AHPs over the next five years. Sitharaman said the government will also build a robust care system focusing on geriatric and allied care services.
In addition, the finance minister announced that programmes aligned with the National Skills Qualifications Framework (NSQF) will be developed to train multi-skilled caregivers. These will combine core caregiving with allied skills such as wellness, yoga and the operation of medical assistive devices. She said 1.5 lakh caregivers will be trained in the coming year.
13:30 (IST) Feb 01
Budget 2026: Government announces duty benefits on inputs used for seafood, leather exports
Sitharaman announced several measures to support India’s labour-intensive export sectors, particularly seafood, leather, and textiles, during her Budget speech.
For seafood processing, the duty drawback limit will be raised from 1 per cent to 3 per cent of the FOB (free on board) value of the previous year’s export turnover. Duty-free imports of specified inputs, previously available for leather or synthetic footwear exports, will now also apply to shoe uppers.
The government extended the export period for final products from six months to one year for leather and textile garments, footwear, and other leather products, aiming to ease compliance pressures amid global trade challenges.
These measures come in the backdrop of US tariffs, including a 50 per cent import duty on Indian goods. India’s leather exports marginally fell 0.23 per cent to USD 3.3 billion during April–December 2025–26, while seafood exports rose 15.53 per cent to USD 6.5 billion over the same period.
For seafood processing, the duty drawback limit will be raised from 1 per cent to 3 per cent of the FOB (free on board) value of the previous year’s export turnover. Duty-free imports of specified inputs, previously available for leather or synthetic footwear exports, will now also apply to shoe uppers.
The government extended the export period for final products from six months to one year for leather and textile garments, footwear, and other leather products, aiming to ease compliance pressures amid global trade challenges.
These measures come in the backdrop of US tariffs, including a 50 per cent import duty on Indian goods. India’s leather exports marginally fell 0.23 per cent to USD 3.3 billion during April–December 2025–26, while seafood exports rose 15.53 per cent to USD 6.5 billion over the same period.
13:24 (IST) Feb 01
Union Budget: Budget 2026 cuts Lokpal allocation to Rs 30 crore for next fiscal
The Union Budget 2026–27 has allocated Rs 30 crore to the anti-corruption ombudsman Lokpal for the next financial year to meet its establishment and construction-related expenses.
According to the Budget document, the revised outlay for Lokpal in the current fiscal stands at Rs 32 crore, while Rs 44.32 crore had been provided for it in the previous Budget for FY 2025–26. The Lokpal functions as the apex body to inquire into and investigate allegations of corruption against public functionaries, including the Prime Minister.
Meanwhile, the Central Vigilance Commission (CVC) has been allotted Rs 54.56 crore for 2026–27 to cover its secretariat expenditure. The Commission had initially received Rs 52.07 crore for FY26, which was later revised to Rs 50.66 crore in the ongoing financial year.
The CVC is the country’s apex integrity watchdog, tasked with promoting transparency, probity and accountability in public administration.
According to the Budget document, the revised outlay for Lokpal in the current fiscal stands at Rs 32 crore, while Rs 44.32 crore had been provided for it in the previous Budget for FY 2025–26. The Lokpal functions as the apex body to inquire into and investigate allegations of corruption against public functionaries, including the Prime Minister.
Meanwhile, the Central Vigilance Commission (CVC) has been allotted Rs 54.56 crore for 2026–27 to cover its secretariat expenditure. The Commission had initially received Rs 52.07 crore for FY26, which was later revised to Rs 50.66 crore in the ongoing financial year.
The CVC is the country’s apex integrity watchdog, tasked with promoting transparency, probity and accountability in public administration.
13:21 (IST) Feb 01
Budget 2026: Govt waives customs duty on cancer and rare disease drugs — key health sector updates
Finance Minister Nirmala Sitharaman, presenting her ninth consecutive Union Budget on Sunday, announced major healthcare measures, including customs duty waivers on 17 cancer drugs and duty exemptions for medicines for seven rare diseases.
The Budget launched Biopharma Shakti, a Rs 10,000 crore initiative over five years to boost research, manufacturing, and innovation in biotechnology and pharmaceuticals. To expand the healthcare workforce, over the next five years, 1 lakh allied health professionals will be trained across fields like optometry, radiology, anaesthesia, and applied psychology. Additionally, 1.5 lakh multi-skilled caregivers will be trained in elder care, wellness, and use of medical assistive devices.
To promote medical tourism, the government will support five regional healthcare hubs in partnership with the private sector, integrating AYUSH centres, diagnostics, rehabilitation, and research facilities. Traditional medicine will also be strengthened with three new All India Institutes of Ayurveda, upgraded AYUSH pharmacies and drug testing labs, and an enhanced WHO Global Traditional Medicine Centre in Jamnagar.
Other measures include the creation of NIMHANS 2.0 in North India and a 50 per cent expansion in district hospital capacity through new emergency and trauma care centres, improving access to critical care.
Read full story13:19 (IST) Feb 01
Union Budget 2026: 20,000 veterinary professionals to be trained
In a bid to diversify rural incomes and generate employment beyond traditional farming, Finance Minister Nirmala Sitharaman on Sunday announced initiatives for livestock, fisheries, and high-value agriculture in the Budget 2026–27.
Noting that livestock contributes nearly 16 per cent of farm income, she proposed a loan-linked capital subsidy scheme to add over 20,000 veterinary professionals and support private veterinary colleges, hospitals, diagnostic labs, and breeding facilities. A credit-linked subsidy programme will promote animal husbandry entrepreneurship, modernise livestock enterprises, and develop integrated dairy, poultry, and livestock value chains.
For fisheries, the government will develop 500 reservoirs and Amrit Sarovars and strengthen coastal value chains via startups, women-led groups, and Fish Farmers Producer Organisations.
Sitharaman also unveiled crop-specific measures: a coconut promotion scheme to replace old trees in major states, programmes for cashew and cocoa to enhance production, exports, and global branding, and support for sandalwood cultivation and processing. Hilly regions will see rejuvenation of old orchards and expansion of high-density walnut, almond, and pine nut cultivation, with a focus on youth-led value addition.
These steps aim to boost rural incomes, create jobs, and make India more self-reliant in high-value agriculture and allied sectors.
Noting that livestock contributes nearly 16 per cent of farm income, she proposed a loan-linked capital subsidy scheme to add over 20,000 veterinary professionals and support private veterinary colleges, hospitals, diagnostic labs, and breeding facilities. A credit-linked subsidy programme will promote animal husbandry entrepreneurship, modernise livestock enterprises, and develop integrated dairy, poultry, and livestock value chains.
For fisheries, the government will develop 500 reservoirs and Amrit Sarovars and strengthen coastal value chains via startups, women-led groups, and Fish Farmers Producer Organisations.
Sitharaman also unveiled crop-specific measures: a coconut promotion scheme to replace old trees in major states, programmes for cashew and cocoa to enhance production, exports, and global branding, and support for sandalwood cultivation and processing. Hilly regions will see rejuvenation of old orchards and expansion of high-density walnut, almond, and pine nut cultivation, with a focus on youth-led value addition.
These steps aim to boost rural incomes, create jobs, and make India more self-reliant in high-value agriculture and allied sectors.
13:15 (IST) Feb 01
Union Budget 2026: FM Sitharaman proposes 'Orange Economy'
Finance minister Nirmala Sitharaman on Sunday announced measures to boost India’s creative industries, or the “orange economy,” in her Union Budget 2026-27 speech, aiming to create future-ready creative jobs.
Highlighting the rapidly growing Animation, Visual Effects, Gaming, and Comics (AVGC) sector, which is expected to require two million professionals by 2030, Sitharaman said, “I propose to support the Indian Institute of Creative Technologies, Mumbai, in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.” This initiative is expected to develop India’s next-generation creator workforce, supporting jobs, startups, and innovation.
The Economic Survey 2025-26 had noted that creativity-driven sectors—including culture, media, entertainment, and intellectual property—can become major drivers of employment, urban services, and tourism. These activities, collectively termed the “orange economy,” derive value primarily from ideas, artistic expression, and cultural capital. The Survey also highlighted bottlenecks such as venue shortages and regulatory hurdles that need addressing for the sector to scale.
Sitharaman further announced plans to strengthen design education by establishing a new National Institute of Design in eastern India. She emphasized that while India’s design industry is expanding rapidly, the country continues to face a shortage of trained designers, underscoring the need for targeted skill development in this sector.
Highlighting the rapidly growing Animation, Visual Effects, Gaming, and Comics (AVGC) sector, which is expected to require two million professionals by 2030, Sitharaman said, “I propose to support the Indian Institute of Creative Technologies, Mumbai, in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.” This initiative is expected to develop India’s next-generation creator workforce, supporting jobs, startups, and innovation.
The Economic Survey 2025-26 had noted that creativity-driven sectors—including culture, media, entertainment, and intellectual property—can become major drivers of employment, urban services, and tourism. These activities, collectively termed the “orange economy,” derive value primarily from ideas, artistic expression, and cultural capital. The Survey also highlighted bottlenecks such as venue shortages and regulatory hurdles that need addressing for the sector to scale.
Sitharaman further announced plans to strengthen design education by establishing a new National Institute of Design in eastern India. She emphasized that while India’s design industry is expanding rapidly, the country continues to face a shortage of trained designers, underscoring the need for targeted skill development in this sector.
13:12 (IST) Feb 01
Budget 2026: FM proposes one-time measure to facilitate sales from SEZs to domestic market at concessional duty
Sitharaman on Sunday proposed a special one-time measure to help manufacturing units in special economic zones (SEZs) sell to the domestic tariff area (DTA) at concessional duty rates.
Addressing concerns over underutilization of SEZ capacities due to global trade disruptions and high tariffs in the US, she said, “To address the concerns arising about utilization of capacities by manufacturing units in the SEZs due to global trade disruptions, I propose, as a special one-time measure, to facilitate sales by eligible manufacturing units in SEZs to the DTA at concessional rates of duty.”
The measure will allow such sales only up to a prescribed proportion of the units’ exports. Sitharaman added that necessary regulatory changes will be implemented to operationalize the scheme while ensuring a level playing field for units operating in the DTA.
Addressing concerns over underutilization of SEZ capacities due to global trade disruptions and high tariffs in the US, she said, “To address the concerns arising about utilization of capacities by manufacturing units in the SEZs due to global trade disruptions, I propose, as a special one-time measure, to facilitate sales by eligible manufacturing units in SEZs to the DTA at concessional rates of duty.”
The measure will allow such sales only up to a prescribed proportion of the units’ exports. Sitharaman added that necessary regulatory changes will be implemented to operationalize the scheme while ensuring a level playing field for units operating in the DTA.
13:08 (IST) Feb 01
Union Budget 2026: Delhi CM Rekha Gupta lauds budget
Delhi CM Rekha Gupta said, "I am very happy. The budget presented today by our Finance Minister, Nirmala Sitharaman, truly reflects PM Modi's dreams and vision of 'Viksit Bharat 2047', and takes another step forward in that direction. This budget has touched every section of society and has encouraged the exploration of new dimensions in business. The way the budget has addressed each segment individually is commendable. In particular, the emphasis on employment generation for youth and the focus on preserving our cultural heritage and developing it into a vibrant tourism industry were truly impressive."
13:03 (IST) Feb 01
Union Budget 2026: FM proposes 'She MARTS' - girls' hostel in every district
Finance minister Nirmala Sitharaman on Sunday announced a series of measures to strengthen higher education and promote women-led entrepreneurship in her Union Budget 2026 speech. The proposals include constructing a girls’ hostel in every district and setting up community-owned retail outlets called ‘She MARTS’.
Sitharaman said the government plans to establish new institutes, university townships, girls’ hostels, and telescope infrastructure to boost investment in the higher education sector. “A girls’ hostel will be built in every district to support women pursuing higher studies, particularly in STEM disciplines like astrophysics and astronomy,” she added, noting the challenges posed by long hours of study and laboratory work.
The Finance Minister highlighted that these hostels will ensure safe and accessible accommodation, improving enrolment and retention of women in advanced scientific fields.
On entrepreneurship, Sitharaman proposed the creation of She MARTS—self-help entrepreneur marts that operate as community-owned retail outlets. “Building on the success of the Lakpati Didi program, these marts will help women move from credit-linked livelihoods to enterprise ownership, providing better market access, branding opportunities, and sustainable income,” she said.
Sitharaman also outlined six major focus areas of the Budget, aimed at long-term growth and stability: scaling up manufacturing in strategic sectors, rejuvenating legacy industries, creating champion MSMEs, driving infrastructure development, ensuring long-term security, and developing city economic regions.
Sitharaman said the government plans to establish new institutes, university townships, girls’ hostels, and telescope infrastructure to boost investment in the higher education sector. “A girls’ hostel will be built in every district to support women pursuing higher studies, particularly in STEM disciplines like astrophysics and astronomy,” she added, noting the challenges posed by long hours of study and laboratory work.
The Finance Minister highlighted that these hostels will ensure safe and accessible accommodation, improving enrolment and retention of women in advanced scientific fields.
On entrepreneurship, Sitharaman proposed the creation of She MARTS—self-help entrepreneur marts that operate as community-owned retail outlets. “Building on the success of the Lakpati Didi program, these marts will help women move from credit-linked livelihoods to enterprise ownership, providing better market access, branding opportunities, and sustainable income,” she said.
Sitharaman also outlined six major focus areas of the Budget, aimed at long-term growth and stability: scaling up manufacturing in strategic sectors, rejuvenating legacy industries, creating champion MSMEs, driving infrastructure development, ensuring long-term security, and developing city economic regions.
13:03 (IST) Feb 01
Union Budget 2026: FM Sitharaman flags health challenges; unveils Rs 10,000 crore Biopharma Shakti
Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2026–27 unveiled a Rs 10,000 crore biopharma initiative and announced the expansion of Ayurveda institutions to meet growing global demand for traditional medicine.
To strengthen India’s position as a global biopharma hub, the Budget proposed Biopharma Shakti, a new initiative with an outlay of Rs 10,000 crore over five years aimed at boosting research, manufacturing, and innovation in the biotechnology and pharmaceutical sectors.
The Budget also outlined plans to enhance institutions for allied health professionals, including the establishment of three new All India Institutes of Ayurveda. Sitharaman said, “I propose to set up three new All India Institutes of Ayurveda; upgrade AYUSH pharmacies and drug testing laboratories to make more skilled personnel available; and upgrade the WHO Global Traditional Medicine Centre in Jamnagar.”
Healthcare allocations under the Department of Health and Family Welfare and the Department of Health Research have gradually increased over the past five years, rising from Rs 80,694 crore in FY21 to Rs 84,471 crore in FY22, before declining to Rs 75,731 crore in FY23. Spending then recovered to Rs 83,149 crore in FY24, increased to a revised estimate of Rs 89,974 crore in FY25, and was pegged at Rs 99,859 crore in the Budget Estimates for FY26.
To strengthen India’s position as a global biopharma hub, the Budget proposed Biopharma Shakti, a new initiative with an outlay of Rs 10,000 crore over five years aimed at boosting research, manufacturing, and innovation in the biotechnology and pharmaceutical sectors.
The Budget also outlined plans to enhance institutions for allied health professionals, including the establishment of three new All India Institutes of Ayurveda. Sitharaman said, “I propose to set up three new All India Institutes of Ayurveda; upgrade AYUSH pharmacies and drug testing laboratories to make more skilled personnel available; and upgrade the WHO Global Traditional Medicine Centre in Jamnagar.”
Healthcare allocations under the Department of Health and Family Welfare and the Department of Health Research have gradually increased over the past five years, rising from Rs 80,694 crore in FY21 to Rs 84,471 crore in FY22, before declining to Rs 75,731 crore in FY23. Spending then recovered to Rs 83,149 crore in FY24, increased to a revised estimate of Rs 89,974 crore in FY25, and was pegged at Rs 99,859 crore in the Budget Estimates for FY26.
13:00 (IST) Feb 01
Budget 2026: Crisil's view on Capex increase in this year's budget
"Capex to GDP at Rs 12.2 lakh crore is at 3.1% of Crisil’s GDP estimate for next fiscal. The budget estimate for this fiscal was also 3.1%. Grants in aid for capital creation typically should add another 1% points to this," it said.
12:57 (IST) Feb 01
Union Budget 2026: 'Woefully short of the hype,' says Congress' Jairam Ramesh
"While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes."
12:54 (IST) Feb 01
Budget 2026: 'This budget is nothing,' says TMC MP Saugata Roy
Union Budget 2026: TMC MP Saugata Roy says, “This budget is nothing. The Finance Minister did not get any chance to bring in new things; only previous schemes were repeated. None of the states got any thing specially West Bengal.”
12:52 (IST) Feb 01
Union Budget 2026 Live: FM announces duty-free fish catch beyond territorial waters, foreign landing treated as exports
Union FM Nirmala Sitharaman said, "To support Indian fishermen to fully harness the economic value of marine resources beyond our territorial waters, the following measures will be taken:
- A. Fish catch by an Indian fishing vessel in the exclusive economic zone or on the high seas will be made free of duty
- B. Landing of such fish on a foreign port will be treated as export of goods, safeguards will be put in place to prevent misuse during fish catch, transit or transhipment."
12:50 (IST) Feb 01
Budget Highlights 2026: Seven high-speed rail and rare earth corridors among key announcements by FM Nirmala Sitharaman
FM Sitharaman announced that the capital expenditure (capex) target will be raised to Rs 12.2 lakh crore for FY27, up from Rs 11.2 lakh crore in the current fiscal year. The government expects the fiscal deficit to narrow slightly to 4.3 per cent of GDP in 2026–27, compared with 4.4 per cent projected for the current year. Economists generally consider a fiscal deficit of 3–4 per cent comfortable for a developing economy like India, balancing growth needs with financial stability.
In her speech, Sitharaman said the Centre will provide Rs 1.4 lakh crore to states as tax devolution in the next financial year, while net tax receipts are estimated at Rs 28.7 lakh crore. The total size of the Union Budget has been pegged at Rs 53.5 lakh crore.
The general government debt-to-GDP ratio stood at around 85 per cent in 2024, including roughly 57 per cent attributed to central government debt.
Sitharaman also announced that the new Income Tax Act, 2025, will come into effect from April 1, with rules and income tax return forms to be notified soon.
Read full story12:48 (IST) Feb 01
Budget 2026 Live: Three chemical parks to cut imports
The government announces support for states to establish three dedicated chemical parks using a cluster-based plug-and-play model to enhance domestic chemical production. This initiative reduces import dependency and strengthens industrial supply chains, benefiting manufacturing-focused states and lowering external vulnerability.
Key Points
• Rare Earth Corridors: Four states including Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated rare earth corridors.
• Mining Promotion: Measures to promote mining, processing, research and manufacturing across strategic mineral sectors.
• Chemical Parks: A new scheme will support states in establishing three dedicated chemical parks through a challenge route on a cluster-based plug-and-play model.
Key Points
• Rare Earth Corridors: Four states including Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated rare earth corridors.
• Mining Promotion: Measures to promote mining, processing, research and manufacturing across strategic mineral sectors.
• Chemical Parks: A new scheme will support states in establishing three dedicated chemical parks through a challenge route on a cluster-based plug-and-play model.
12:44 (IST) Feb 01
Union Budget 2026: FM proposes customs duty exemption on 17 medicines and adds 7 rare diseases for relief
Union FM Nirmala Sitharaman said, "To provide relief to patients, particularly those suffering from cancer, I propose to exempt basic customs duty on 17 drugs or medicines. I propose also to add 7 more rare diseases for the purposes of exempting import duties on personal import of drugs, medicines and food for special medical purposes used in their treatment."
12:42 (IST) Feb 01
Union Budget 2026: FM Sitharaman announces buyback tax, higher STT on commodity futures, MAT rate reduced to 14%
Finance minister Nirmala Sitharaman on Sunday announced that buyback proceeds for all shareholders will be taxed as capital gains.
Presenting the Union Budget for 2026–27, she also proposed increasing the Securities Transaction Tax on commodity futures from 0.02 per cent to 0.05 per cent. Additionally, she said the Minimum Alternate Tax (MAT) will be treated as the final tax, with the rate reduced from 15 per cent to 14 per cent.
12:38 (IST) Feb 01
Budget 2026: Electronics outlay increased to 40,000 crores
The budget proposes increasing the Electronics Components Manufacturing Scheme outlay from Rs 22,999 crore to Rs 40,000 crore, alongside new initiatives such as ISM 2.0, rare earth corridors, and dedicated chemical parks. These measures aim to strengthen India’s semiconductor ecosystem, reduce import dependency, and support states in developing advanced industrial corridors that boost domestic manufacturing competitiveness.
Key points:
- ISM 2.0 launch: A new phase focused on producing equipment and materials, designing full-stack Indian IP, and strengthening semiconductor supply chains.
- Electronics Components Manufacturing Scheme: Outlay raised to Rs 40,000 crore after investment commitments doubled the original Rs 22,999 crore target.
- Rare earth corridors: Proposed support for Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish dedicated corridors for mining, processing, research, and manufacturing.
- Chemical parks: A scheme to help states set up three dedicated chemical parks through a cluster-based plug-and-play model, reducing import dependency.
12:34 (IST) Feb 01
Union Budget 2026: Customs duty to be waived on aircraft parts for defence units
Union FM Nirmala Sitharaman said, "It is proposed to exempt basic customs duty on raw materials imported for the manufacture of parts of aircraft to be used in maintenance, repair or overall requirements by units in the defence sector."
12:32 (IST) Feb 01
Union Budget 2026: FM Sitharaman in Lok Sabha
Union FM Nirmala Sitharaman says, "It is proposed to provide basic customs duty exemption to the import of capital goods required for the processing of critical minerals in India."
12:32 (IST) Feb 01
Union nudget 2026: Customs duty exemption on nuclear power imports till 2035
Union FM Nirmala Sitharaman said, "I propose to extend the basic customs duty exemption on import of goods required for nuclear power projects till 2035 and expand it for all nuclear plants irrespective of their capacity."
12:27 (IST) Feb 01
Budget 2026 Live: Proposal to increase the limit for duty-free imports of specified inputs
"I propose to increase the limit for duty-free imports of specified inputs used for processing sea foods for export from the current 1% to 3% of FOB value of the previous year's export turnover. I also propose to allow duty-free imports of specified inputs which is currently available for exports of leather or synthetic footwear to exports of shoe uppers as well."
12:24 (IST) Feb 01
Union Budget 2026: FM announces Income Tax Act 2025 implementation from April 1, simplified forms soon
Finance minister Nirmala Sitharaman on Sunday announced that the Income Tax Act, 2025 will come into effect from April 1, 2026, with rules and tax return forms to be notified shortly.
Presenting the Budget in the Lok Sabha, she said, "This direct tax code was completed in record time. The Income Tax Act, 2025, will come into force from 1 April 2026. The simplified income tax rules and forms will be notified soon, giving taxpayers adequate time to familiarise themselves with the requirements."
The redesigned forms are aimed at making compliance easier for ordinary citizens. The new law is revenue neutral, with no change in tax rates, and focuses on simplifying direct tax provisions, removing ambiguities, and reducing litigation risks. Compared with the 1961 Income Tax Act, the 2025 law cuts the text and sections by about 50 per cent.
The legislation also introduces a single "tax year" framework, eliminating the distinction between the assessment year and previous year. Additionally, it allows taxpayers to claim TDS refunds even if ITRs are filed after the deadline, without any penal charges.
Presenting the Budget in the Lok Sabha, she said, "This direct tax code was completed in record time. The Income Tax Act, 2025, will come into force from 1 April 2026. The simplified income tax rules and forms will be notified soon, giving taxpayers adequate time to familiarise themselves with the requirements."
The redesigned forms are aimed at making compliance easier for ordinary citizens. The new law is revenue neutral, with no change in tax rates, and focuses on simplifying direct tax provisions, removing ambiguities, and reducing litigation risks. Compared with the 1961 Income Tax Act, the 2025 law cuts the text and sections by about 50 per cent.
The legislation also introduces a single "tax year" framework, eliminating the distinction between the assessment year and previous year. Additionally, it allows taxpayers to claim TDS refunds even if ITRs are filed after the deadline, without any penal charges.
12:22 (IST) Feb 01
Budget 2026 Live: Odisha, Kerala, Andhra, Tamil Nadu to get dedicated rare earth corridors — what it means
Sitharaman on Sunday proposed setting up dedicated rare earth corridors in Odisha, Andhra Pradesh, Tamil Nadu, and Kerala as part of the 2026–27 Union Budget. The move aims to reduce India’s reliance on imports and bolster domestic capabilities in critical minerals. Presenting the Budget in Parliament, Sitharaman said the government would “support mineral-rich states in promoting mining, processing, research, and manufacturing of rare earth elements and permanent magnets,” vital for clean energy, electronics, defence, and electric mobility.
Read full story12:21 (IST) Feb 01
Budget 2026: Fiscal deficit pegged at 4.3% of GDP, Rs 1.4 lakh crore tax devolution to states
Finance minister Nirmala Sitharaman on Sunday projected the fiscal deficit for 2026–27 at 4.3 per cent of GDP, slightly lower than the 4.4 per cent estimated for the current financial year.
In her Budget speech for 2026–27, Sitharaman said the government will devolve Rs 1.4 lakh crore in tax revenues to the states, while net tax receipts are estimated at Rs 28.7 lakh crore. The total size of the Budget is pegged at Rs 53.5 lakh crore.
The finance minister emphasized that the government is following a path of fiscal prudence and debt consolidation. The fiscal deficit, which represents the gap between government expenditure and revenue, was estimated at 4.4 per cent of GDP for FY26.
Sitharaman noted that from 2026–27 onwards, fiscal policy would aim to maintain the deficit at levels that allow central government debt to decline as a share of GDP. In 2024, the general government debt-to-GDP ratio stood at 85 per cent, including 57 per cent for central government debt.
A fiscal deficit of 3–4 per cent is considered a comfortable and sustainable target for a growing economy like India, balancing the need for expansion with financial stability.
In her Budget speech for 2026–27, Sitharaman said the government will devolve Rs 1.4 lakh crore in tax revenues to the states, while net tax receipts are estimated at Rs 28.7 lakh crore. The total size of the Budget is pegged at Rs 53.5 lakh crore.
The finance minister emphasized that the government is following a path of fiscal prudence and debt consolidation. The fiscal deficit, which represents the gap between government expenditure and revenue, was estimated at 4.4 per cent of GDP for FY26.
Sitharaman noted that from 2026–27 onwards, fiscal policy would aim to maintain the deficit at levels that allow central government debt to decline as a share of GDP. In 2024, the general government debt-to-GDP ratio stood at 85 per cent, including 57 per cent for central government debt.
A fiscal deficit of 3–4 per cent is considered a comfortable and sustainable target for a growing economy like India, balancing the need for expansion with financial stability.
12:20 (IST) Feb 01
Union Budget 2026 Live: Big push for future-ready infrastructure across India
Sitharaman outlined a series of major infrastructure initiatives aimed at building a future-ready Bharat and strengthening growth centres, especially in Tier II and Tier III cities with populations above 5 lakh.
Public capital expenditure has been increased to Rs 12.2 lakh crore for FY 2026–27. The government will set up dedicated REITs to accelerate the recycling of significant real estate assets of CPSEs, and an Infrastructure Risk Guarantee Fund will provide prudently calibrated partial credit guarantees to lenders.
An allocation of Rs 5,000 crore has been earmarked over five years for developing City Economic Regions. A Coastal Cargo Promotion Scheme will work to raise the share of inland waterways and coastal shipping from 6 per cent to 12 per cent by 2047.
Additional connectivity measures include a Seaplane VGF Scheme to support operations, new dedicated freight corridors connecting Dankuni in the east to Surat in the west, and the development of 20 new National Waterways over the next five years. The Budget also proposes 7 high-speed rail corridors as growth connectors and the setting up of training institutes as Regional Centres of Excellence to build skilled manpower for the sector.
Public capital expenditure has been increased to Rs 12.2 lakh crore for FY 2026–27. The government will set up dedicated REITs to accelerate the recycling of significant real estate assets of CPSEs, and an Infrastructure Risk Guarantee Fund will provide prudently calibrated partial credit guarantees to lenders.
An allocation of Rs 5,000 crore has been earmarked over five years for developing City Economic Regions. A Coastal Cargo Promotion Scheme will work to raise the share of inland waterways and coastal shipping from 6 per cent to 12 per cent by 2047.
Additional connectivity measures include a Seaplane VGF Scheme to support operations, new dedicated freight corridors connecting Dankuni in the east to Surat in the west, and the development of 20 new National Waterways over the next five years. The Budget also proposes 7 high-speed rail corridors as growth connectors and the setting up of training institutes as Regional Centres of Excellence to build skilled manpower for the sector.
12:17 (IST) Feb 01
Budget 2026: Government to set up 1,000 clinical trial sites, launches Bharat Vistar and She Marts
Finance minister Nirmala Sitharaman on Sunday announced that the government will establish a network of over 1,000 accredited clinical trial sites across India, expanding beyond major centres such as Mumbai, Delhi, Bengaluru, Chennai, and Hyderabad.
She also proposed a credit-linked subsidy programme to support livestock farmer producer organisations, aimed at generating employment opportunities.
In her Budget speech, Sitharaman unveiled the launch of Bharat Vistar, a multilingual AI tool designed to integrate the agri-stack, and announced the creation of She Marts, community-owned retail outlets to empower local entrepreneurs.
She also proposed a credit-linked subsidy programme to support livestock farmer producer organisations, aimed at generating employment opportunities.
In her Budget speech, Sitharaman unveiled the launch of Bharat Vistar, a multilingual AI tool designed to integrate the agri-stack, and announced the creation of She Marts, community-owned retail outlets to empower local entrepreneurs.
12:16 (IST) Feb 01
Budget 2026 Live: Rs 20,000 crore push for carbon capture technologies
Union Finance Minister Nirmala Sitharaman proposed an outlay of Rs 20,000 crore over the next five years to support Carbon Capture, Utilization and Storage (CCUS) technologies. The funding aims to help scale up projects and improve technology readiness for wider end-use applications across sectors.
12:12 (IST) Feb 01
Union Budget 2026 Live: Income Tax Act 2025 to come into effect from April 1, 2026
The Income Tax Act, 2025, is set to come into effect from 1 April 2026, featuring simplified rules, redesigned forms, and multiple direct tax relief measures, including lower TCS rates and new exemptions. These reforms aim to ease compliance for taxpayers, reduce tax burdens on specific transactions, and eliminate ambiguities impacting individuals and service providers.
- Income Tax Act 2025: New income tax framework to take effect from 1 April 2026 with simplified rules and redesigned forms.
- Motor Accident Compensation: Interest awarded by the Motor Accident Claims Tribunal to natural persons exempted from income tax.
- TCS Rates: Reduction of TCS on overseas tour program packages and on LRS remittances for education and medical purposes to 2%.
- Manpower Services: Supply of manpower services brought under contractor payments for TDS purposes to eliminate ambiguity.
12:11 (IST) Feb 01
Budget 2026 Live: Changes in ITR filing dates
The government has proposed a staggered timeline for filing income tax returns. Individuals filing ITR-1 and ITR-2 will continue to have the July 31 deadline, while non-audit business entities and trusts will be allowed to file their returns up to August 31.
12:07 (IST) Feb 01
Union Budget 2026: 'Empowering divyangjan'
- Divyangjan Skill Scheme: Ensuring opportunities for a dignified life for every group of persons with disabilities through industry-relevant and specialized training.
- Divyang Sahara Scheme: Supporting the Artificial Limbs Manufacturing Corporation of India (ALIMCO) to enhance production of assistive devices, invest in research and development, and integrate AI technologies
12:05 (IST) Feb 01
Union Budget 2026: 'I have allocated Rs 1.4 lakh crores for states for FY2026-27,' says FM
Union Budget 2026-27 | Union finance minister Nirmala Sitharaman said, "The Government has accepted 16th Finance Commission recommendations to retain the vertical share of devolution at 41%. I have allocated Rs 1.4 lakh crores for states for FY2026-27."
12:04 (IST) Feb 01
Budget 2026 Live: Fiscal Consolidation and Budget Estimates
Presenting the Budget Estimates for 2026–27, the Finance Minister highlighted the government’s continued focus on fiscal consolidation alongside growth.
The debt-to-GDP ratio is estimated at 55.6 per cent in BE 2026–27, improving from 56.1 per cent in the Revised Estimates (RE) for 2025–26.
The fiscal deficit for BE 2026–27 is projected at 4.3 per cent of GDP, lower than the 4.4 per cent of GDP estimated in BE 2025–26.
On the receipts side, non-debt receipts are estimated at Rs 36.5 lakh crore in BE 2026–27, while the Centre’s net tax receipts are pegged at Rs 28.7 lakh crore.
The government has projected total expenditure at Rs 53.5 lakh crore for 2026–27, reflecting continued support for key programmes while adhering to the fiscal consolidation path.
The debt-to-GDP ratio is estimated at 55.6 per cent in BE 2026–27, improving from 56.1 per cent in the Revised Estimates (RE) for 2025–26.
The fiscal deficit for BE 2026–27 is projected at 4.3 per cent of GDP, lower than the 4.4 per cent of GDP estimated in BE 2025–26.
On the receipts side, non-debt receipts are estimated at Rs 36.5 lakh crore in BE 2026–27, while the Centre’s net tax receipts are pegged at Rs 28.7 lakh crore.
The government has projected total expenditure at Rs 53.5 lakh crore for 2026–27, reflecting continued support for key programmes while adhering to the fiscal consolidation path.
12:03 (IST) Feb 01
Budget 2026: FM Sitharaman proposes 5 medical tourism hubs
Finance minister Nirmala Sitharaman on Sunday announced plans to establish five regional hubs for medical tourism and proposed a Rs 10,000-crore allocation for the Biopharma Shakti programme over the next five years.
Presenting the Union Budget, she said, “I propose to launch a scheme to support states in establishing five regional medical hubs,” which will function as integrated healthcare complexes combining medical, educational, and research facilities.
On the Biopharma Shakti programme, Sitharaman said, “With an outlay of Rs 10,000 crore over the next five years, this will build the ecosystem for domestic production of biologics and biosimilars.” The initiative will include a biopharma-focused network with three new National Institutes of Pharmaceutical Education and Research (NIPERs) and upgrades to seven existing institutes.
She added that the programme will create a network of 1,000 accredited clinical trial sites across India. “We propose to strengthen the Central Drug Standard Control Organisation to meet global standards and enforce approval timelines through a dedicated scientific review cadre and specialists,” she said.
Sitharaman also proposed setting up three new All India Institutes of Ayurveda as part of the government’s push to expand traditional and modern healthcare infrastructure.
Presenting the Union Budget, she said, “I propose to launch a scheme to support states in establishing five regional medical hubs,” which will function as integrated healthcare complexes combining medical, educational, and research facilities.
On the Biopharma Shakti programme, Sitharaman said, “With an outlay of Rs 10,000 crore over the next five years, this will build the ecosystem for domestic production of biologics and biosimilars.” The initiative will include a biopharma-focused network with three new National Institutes of Pharmaceutical Education and Research (NIPERs) and upgrades to seven existing institutes.
She added that the programme will create a network of 1,000 accredited clinical trial sites across India. “We propose to strengthen the Central Drug Standard Control Organisation to meet global standards and enforce approval timelines through a dedicated scientific review cadre and specialists,” she said.
Sitharaman also proposed setting up three new All India Institutes of Ayurveda as part of the government’s push to expand traditional and modern healthcare infrastructure.
11:59 (IST) Feb 01
Budget 2026 Live: Finance minister brings up country's gaming and animation sector
FM Sitharaman said, "India’s Animation, Visual Effects, Gaming and Comics AVGC sector is a growing industry, projected to require 2 million professionals by 2030. I propose to support the Indian Institute of Creative Technologies, Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges."
11:58 (IST) Feb 01
FM Nirmala Sitharaman proposes Divyangjan Kaushal Yojana
The Union finance minister Nirmala Sitharaman in Lok Sabha proposed measures specifically to cater to the needs of divyangjan to ensure dignified livelihood opportunities for them.
11:56 (IST) Feb 01
Union Budget 2026 Live: FM proposes launching three new All India Institutes of Ayurveda
"I propose to set up three new All India Institutes of Ayurveda; Upgrade Ayush pharmacies and drug testing labs and make available more skilled persons; Upgrade the WHO global Traditional Medicine Centre in Jamnagar," said Sitharaman.
11:55 (IST) Feb 01
Budget 2026 Live: Capacity Building AI Missions proposed for 25 Crore
During her Budget speech, the Finance Minister said the government is placing strong emphasis on emerging technologies, particularly artificial intelligence, as a driver of inclusive growth and national progress. She highlighted that multiple national missions have been launched to strengthen innovation and research across the country.
Key Points:
• Emerging Technologies: Adoption of AI and tech advancements highlighted as essential for inclusive national progress.
• Technology Missions: Support extended through AI missions, national quantum mission, Anusandan National Research Fund, and Research and Development and Innovation Fund.
Key Points:
• Emerging Technologies: Adoption of AI and tech advancements highlighted as essential for inclusive national progress.
• Technology Missions: Support extended through AI missions, national quantum mission, Anusandan National Research Fund, and Research and Development and Innovation Fund.
11:51 (IST) Feb 01
Union Budgent 2026: FM proposes to launch 'Khelo India Mission'
"The Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India Mission to transform the Sports sector over the next decade."
50 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