Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on Sunday, becoming the first to deliver the budget on this day in independent India.
She carried a digital tablet encased in a traditional bahi-khata style pouch, marking her ninth consecutive presentation.
Sitharaman highlighted India’s economic stability, fiscal discipline, and sustained growth since 2014. She emphasised Aatmanirbharta as the guiding principle, strengthening domestic manufacturing, ensuring energy security, and reducing import dependence. She noted that India’s economy has maintained a growth rate of around 7 per cent, with significant poverty reduction.
Key Announcements
- Semiconductor Mission 2.0: Rs 40,000 crore outlay to boost chip manufacturing, industry-led research, training centres, and global collaborations. Mineral-rich states like Odisha, Kerala, Andhra Pradesh, and Tamil Nadu will receive targeted support.
- Capital Expenditure: Increased by 9 per cent to Rs 12.2 lakh crore for FY 2026-27, focusing on infrastructure and connectivity.
- High-Speed Rail Corridors: Seven new routes, including Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, and Bengaluru–Chennai.
- MSME Support: Rs 10,000 crore fund for champion SMEs, policy support, credit facilitation, and technology adoption.
- Textile Sector: Mega textile parks and integrated programmes to strengthen technical textiles.
- Banking & Finance: Incentives for municipal bond issuance, restructuring of REC Ltd and PFC, and a high-level committee on “Banking for Viksit Bharat.”
- Social Initiatives: Girls’ hostels in every district, veterinary college support, Ayush pharmacy upgrades, and the WHO Traditional Medicine Centre in Jamnagar.
- Taxpayer Relief: Extended deadlines for revised returns, simplified compliance for NRIs, and reduced procedural hurdles.
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