India Budget 2026: Finance Minister Sitharaman says budget inspired by three 'kartavyas' | Details

Finance Minister Nirmala Sitharaman talked about three kartavyas (duties) in her first budget prepared at the Kartavya Bhavan. The Ministry of Finance headquarters shifted from the historic North Block to the Kartavya Bhavan at Janpath. The Union Budget 2026 was presented here, marking a new chapter in India's economic landscape. At the start of presenting her ninth consecutive budget, Sitharaman said that Budget 2026 is "Yuva Shakti" driven, and inspired by 3 "kartavyas." The first is to accelerate and sustain economic growth by enhancing competitiveness and building resilience to volatile global dynamics. The second kartavya is to fulfil people's aspirations and build their capacity and make them strong partners in India's path to prosperity. The third kartavya, she said, is to ensure "sab ka saath, sab ka vikas." Every family, community, and region should have access to resources, amenities and opportunities for meaningful participation, Sitharaman said.

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The finance minister said that to achieve the three kartavyas, a supportive ecosystem is needed. This includes sustaining the momentum of structural reforms, a robust and resilient financial sector and the use of cutting-edge technologies, such as artificial intelligence.

India Budget 2026: Income tax slabs and changes

Nirmala Sitharaman's Budget 2026-27 speech lasted around one and a half hours. She wrapped it up with the government’s proposals on expenditure, taxation and reforms for the coming financial year. Among key aspects of the speech closely watched were the tax reforms. The New Income Tax Act will come into effect on April 1, Sitharaman said. The old regime stays and will not be phased out. The slabs under the old regime stand at Rs 5 lakh, Rs 10 lakh and above. The new regime stretches the zero tax bracket to Rs 4 lakh and rises to thirty per cent above Rs 24 lakh.