Union Budget 2026 Highlights: Major firepower boost as defence capital outlay rises 22%

The Union Budget's proposals to extend tax exemptions send a strong signal to global investors and significantly strengthen GIFT City's position as an international financial services hub, said Sanjay Kaul, Managing Director and Group CEO of GIFT City, following the Budget announcement by the central government on Sunday.

Presenting the Budget for 2026-27, Finance Minister Nirmala Sitharaman proposed to increase the period of deduction under section 147 to 20 consecutive years out of 25 years for units in IFSC and 20 consecutive years for OBUs. It was also proposed that the business income of these units from IFSC after the expiry of the period of deduction will be taxed at a rate of 15 per cent, to increase the competitiveness of IFSC.

Senior Congress leader P Chidambaram on Sunday said the Union Budget presented by Finance Minister Nirmala Sitharaman in Parliament earlier in the day "failed the test of economic strategy and economic statesmanship."

Addressing a press conference, Chidambaram, a former Finance Minister, said he is not sure if the Finance Minister and the government read the Economic Survey 2025-26 and even if they have, they have decided to discard the challenged and fall back on "their favourite pastime of throwing words at the people".

The Ministry of Railways received its highest-ever outlay in the Union Budget 2026, with the Union Government putting aside Rs 2,78,030 crores for Indian Railways along with a capital expenditure (capex) of Rs 2,93,030 crores for the financial year 2026-27. In a major step towards high-speed rail connectivity in the country, Finance Minister Nirmala Sitharaman announced seven new high-speed rail corridors across the country. At present, India does not have any functional high-speed or bullet train corridor. The first bullet train is currently under construction between Ahmedabad and Mumbai.

Tamil Nadu Chief Minister MK Stalin on Sunday strongly criticised the Union Budget 2026-27, stating that it has once again ignored the interests of Tamil Nadu and failed to address the needs of any section of society. "The Union Government's Budget, which was eagerly awaited, has delivered an even greater disappointment than usual," Stalin said in a statement.

Fulfilling the long-standing demands of armed forces to increase capital outlay for defence to provide fiscal headroom for modernisation, the Union Budget 2026 set aside Rs 7.85 lakh crore for defence, a sharp uptick from Rs 6.81 lakh crore last year--a hike of around 15 per cent.

Responding to Lok Sabha LoP Rahul Gandhi’s post on X criticising the Union Budget, FM Nirmala Sitharaman said she did not understand what “course correction” was being referred to, asserting that India’s economic fundamentals remain strong.

She said global uncertainty has impacted several sectors, and the government has rolled out multiple schemes to support small and medium enterprises, textiles, leather, rural workers, farmers, women entrepreneurs and self-help groups to cushion them from external volatility.

She added that political criticism was welcome, but said she was open to responding to arguments backed by facts, underlining that the Budget focuses on protecting ordinary citizens from global economic shocks.

Defence Minister Rajnath Singh has hailed the Union Budget 2026-27 and said it will help in further strengthening India’s defence capabilities. He thanked Prime Minister Narendra Modi for allocating a record Rs 7.85 lakh crore for the defence sector.

“This budget is designed to ensure that the dividends of growth reach every section of society, with special focus on the poor, the underprivileged, and the disadvantaged,” he added.

BJP national president Nitin Nabin hailed Union Budget 2026-27 and lauded the proposals in the manufacturing sector saying it aimed for ‘Sankalp se siddhi’ (accomplishment through resolution) for Viksit Bharat 2047 and will create new avenues for employment.

“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.

Union Finance Minister Nirmala Sitharaman said in post-Budget press conference that the government is laying path to maintain growth momentum. 

“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.”

PM Narendra Modi said on the presented Union Budget 2026-27 on Sunday, "This is one such unique budget which has focus on bringing down fiscal deficit, on bringing inflation under control and with this, Budget also has the combination of high CapEx and high growth."

On Union Budget, FICCI President Anant Goenka told news agency ANI," This Budget is one of stability and continuity in a world where we are seeing a lot of uncertainty and change. India has emerged as a macroeconomic environment with high macroeconomic stability and controlled inflation. This Budget builds on the government's past focus areas. It places a strong emphasis on the macro view. The Reform Express continues, and manufacturing remains a high-priority area. It is pleasant to see a focus on FDI coming into India, with tax holidays for MNCs. Fiscal deficit target has been met, and it's positive to see the 4.4% figure."

Sameer Gupta, Partner and National Tax Leader, EY India said on on Union Budget 2026–27, “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 ₹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.”

On market crash after the Finance Minister Nirmala Sitharaman presented the Union Budget 2026-26, Congress MP Shashi Tharoor told news agency ANI, "What can I say? Can we be happy if they are disappointed?"

Adhil Shetty, CEO of BankBazaar, said on the Union Budget 2026–27 that it would bolster the foundations of India’s formal credit and financial system through targeted, data-backed measures.

" Union Budget 2026–27 strengthens the foundations of India’s formal credit and financial system through targeted, data-backed measures. The proposed ₹10,000 crore SME Growth Fund is a key intervention. It addresses the long-standing equity and growth capital gap faced by scaling MSMEs, which employ over 11 crore people and contribute nearly 30 per cent of India’s GDP. Better access to patient capital can help viable enterprises move from survival mode to sustainable expansion.

The continued focus on strengthening the TReDS and invoice discounting framework directly tackles MSME liquidity stress. Faster receivables financing improves cash flows, reduces dependence on informal borrowing, and lowers working capital costs. This is critical for small businesses operating on thin margins.

Within banking and NBFCs, the proposal to constitute a high-level committee on banking for Viksit Bharat signals a comprehensive review of the sector. The focus on financial stability, inclusion, consumer protection, and technology adoption is timely. The government’s clearer articulation of the role of NBFCs, including defined credit targets and technology-led efficiency, reinforces their importance in last-mile credit delivery.

For households, the reduction in TCS under the Liberalised Remittance Scheme to 2 per cent from 5 per cent for foreign travel, education, and medical expenses will ease upfront cash-flow pressure. It improves affordability for overseas education and healthcare while reducing short-term liquidity strain.

Overall, Budget 2026–27 takes a measured approach. By combining capital support, digital and AI-led infrastructure, and regulatory reform, it aims to deepen formal credit penetration, improve liquidity, and strengthen trust across India’s financial system," he added.

Union Minister Chirag Paswan told ANI, "Today's budget has emphasised on infrastructure, rural infrastructure, urbanisation, and self-reliance... This is a budget that lays a strong foundation for a developed India."

On the Union Budget, Union Minister Jyotiraditya Scindia told news agency ANI," It is a progressive Budget that focuses on every sector of the Indian economy. It is a Budget for every citizen. Particularly, the areas of telecom and DoNEAR have received strong impetus in this Budget. It will empower and power India. A lot of institutions and waterways have been allocated to the North East."

Madhya Pradesh Dy CM Jagdish Devda said after Finance Minister Nirmala Sitharaman announced the Union Budget 2026 on Sunday, “Farmers, youth, women, I think no one has been left out... All sectors have been fully included in the budget.” “This budget is dedicated to the people... It's such a good budget, and the opposition is speaking out against it because they are unsettled by its quality,” he added.

Sensex off day’s low, down 800 Pts; Nifty reclaims 25,000

After delivering an hour and a half long speech, FM Nirmala Sitharaman tabled the Budget 2026-2027. Lok Sabha speaker Om Birla adjourned the house 

FM Nirmala Sitharaman made the following announcement under indirect taxes:

• Import duty on nuclear plants exempted till 2035
• Limit for duty free imports in sea food for exports at 3% of FOB value allowed. Earlier it was 1%
• Time Period for export of final product in leather industry increased from 6 months to 1 year
• BCD in Li-ion cells exempt
• Biogas CNG exempt from import duty
• Duty exempt from manufacture of parts in MRO in Defence and civil aircraft manufacturing
• Duty for imported goods for personal use over limit reduced to 10% from 20%. 
• Duties reduced on various drugs and medicines for special treatments
• Customs processes to have minimal intervention of officers 
• AEOs to get 30 days to do paperwork

The FM announces various exemptions for various taxpayers: MAT on NRIs waived in presumptive scheme (44ADA, 44AD, 44AE)

• TCS rate reductions announced
• STT on futures increased to 0.05% from 0.025%
• Corporate Tax Rate reduced in New Tax Regime with MAT setoff allowed only in New Tax Regime.
• MAT credit accumulation not allowed from 1st April 2026
• Brought Forward MAT credit is allowed to be set off

Buyback taxation changes announced by the FM 

• Proposed to change buyback as capital gains, instead of like dividends 
• Promoters to pay additional tax of 22 per cent tax for buyback of shares

FM Nirmala Sitharaman announces tax holiday till 2047 for companies providing cloud services to Indian companies through India based data centres. She also proposes 15% cost allowed as safe harbor for data centre entities through Indian subsidiaries.

As FM Nirmala Sitharaman began her major announcements on direct taxes under Part B of the Budget speech, Indian stock turned red

FM Nirmala Sitharaman proposes 6-month foreign asset disclosure scheme under two categories 

Who didn't disclose: Upto Rs 1 crore @ 30% of FMV and 30% of additional tax as penalty 

Those who disclosed and/or paid tax but didn't declare asset acquired: Upto Rs 5 crores 
 

FM Sitharaman, while delivering Budget speech on Sunday, made these announcements about Income Tax

• 1.New income tax regime to come into effect from 1 April 2026
• 2.Any interest awarded by Motor Accident Claims Tribunal to be tax-free.
• 3. TCS Rate on overseas tour programs reduced to 2%
• 4. TCS under LRS to be reduced to 2%.
• 5. TDS under 194C (Contractors) is to be at 2% or 1%.
• 6. Depositories to accept 15G/15H to reduce TDS for depositors.
• 7. Revised Returns allowed to 31st March with fees.
• 8. ITR 1 and 2 till 31st July.
• 9. Non Audit Trusts - 31st August
• 10. TAN not required for NRIs.
• 11. Scheme for disclosure of Foreign Assets and Income for two types of taxpayers. Limit of Assets upto ₹1,00,00,000 and ₹5,00,00,000 - 30% tax and 30% penalty for Category A. 1,00,000 for Category B.
• 12. Quantum of prepayment reduced to 10% for Appeals.
• 13. Updated Return allowed for reassessment proceedings allowed.
• 14. Penalties for technical defaults (audit missing) to be converted to fees. No prosecution.
• 15. Non production of books of accounts and TDS payments decriminalized.
• 16. Fines conversion by courts allowed

Union Budget 2026 LIVE Updates | The Finance Minister announced the launching of Nimhans Mental Health Institute in North India.

In wildlife, FM Sitharaman said that India will host the Global Big Cats Summit with ministers from 95 range countries to deliberate on conservation strategies.

Union Budget 2026 LIVE Updates | FM Sitharaman proposes Digital Knowledge Grid to document heritage sites & create local jobs. World-class trekking & hiking trails in HP, Uttarakhand, J&K & the Ghats.

Union Budget 2026 LIVE Updates | FM Sitharaman' announces launching of 'Khelo India mission' 

Under Orange Economy,  FM Sitharaman announces:

• AVGC sector will require 2 million professionals by 2030 
• Will support content creation labs across 15,000 schools 
• New national institute of design to boost design education in East India 
• 5 University townships in major industrial corridors. 
• Girls hostel in every district

Union Budget 2026 LIVE Updates | FM Sitharaman proposes 5 university townships in vicinity of industrial corridors to help in skill building. 1 girls hostel in every district with VGF support

"I propose setting up high level committee on banking for Viksit Bharat," said Finance Minister Nirmala Sitharaman. She also said Power Finance Corporation and Rural Electrification Corporations to be restructured. She added, “Comprehensive review of forex management to create more contemporary framework”

Union Budget 2026 LIVE Updates | FM Sitharaman says government will develop 7 high-speed rail corridors namely:

• Mumbai Pune
• Pune Hyderabad 
• Hyderabad Bengaluru
• Hyderabad Chennai
• Chennai to Bengaluru
• Delhi to Varanasi 
• Varanasi to Siliguri

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ₹12.2 lakh crore on infrastructure spending. It includes:

• New Dedicated Freight Corridors and operationalize
• 20 new national waterways 
• Ship repair (inland waterways) centres
• Coastal cargo incentivisation scheme 
• Sea Plane manufacturing boost

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman provides a major push for textile sector. She proposed the following

1. National fibre scheme 2. Textile expansion and employment scheme 3. National handloom program 4. Tax eco initiative 5. Samaksh 2.0 6. Mega textile parks 7. Mahatma Gandhi Gram Swaraj Initiative

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes Mahatma Gandhi Gram Swaraj initiative to benefit weavers, village industries, rural youth 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes 'Integrated schemes for textiles'

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman says, “A scheme for rare earth magnets was launched in November 2025. Support for mineral-rich states of Odisha, Andhra Pradesh, Kerala, and Tamil Nadu to develop rare earth corridors.”

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman announces launching of India SemiConductor Mission 2.0 to fortify supply chains.

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ‘Biopharma Shakti’ with the outlay Rs. 10,000 crores over next 10 years 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman briefs on 'Reform Express'. She says “Government has rolled out 350 reforms. GST 2.0, QCOs and is working on deregulation.”

• First kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics.
• Second kartavya is to fulfill aspirations of our people and build their capacity, making them strong partners in India's path to prosperity.
• 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."

Under Kartavya 1, six interventions are proposed : - Scaling up manufacturing in 7 frontier sectors - Rejuvenating legacy industries -Championing MSMEs - Long-term security and stability -Developing city economic regions

Union Budget 2026 LIVE Updates | FM Sitharaman presents Budget 2026

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The Union Cabinet has approved the Union Budget 2026-27. Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2026-27 in Parliament shortly.

Gold and silver prices slumped nearly 9% each on the Multi Commodity Exchange (MCX) on Sunday (Feb 1), extending one of the sharpest two-day sell-offs ever seen in the precious metals market.

The crash has coincided with heightened Budget day speculation around possible import duty changes.

MCX gold fell by Rs 13,711 to Rs 1,38,634 per 10 grams, while silver dropped by Rs 26,273 to Rs 2,65,652 per kilogram. The losses deepened from the initial six per cent decline seen in early trade.

The rout follows extreme volatility in global markets. Silver had plunged as much as 37 per cent intraday on Friday, while spot gold prices fell 12 per cent, marking the steepest single-day fall in silver on record.

Indian stock markets remained volatile ahead of the Union Budget, with benchmark indices swinging between gains and losses on the special trading day. 

The Sensex opened on a flat note before slipping into the red and then recovering to trade in positive territory. The Nifty followed a similar pattern, reflecting cautious sentiment as investors waited for key announcements from the Budget speech.

Sensex trading at 82,328.15 points, NSE at 25,314.60, on the day of presentation on Union Budget 2026-27

Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in January 2026, marking a robust 6.2% growth over the same month last year, ANI reported, citing government sources.

Oil marketing companies increased the price of 19 kg commercial LPG cylinders by Rs 49, with the new rates coming into effect from Sunday.
In the national capital, the retail price of a 19 kg commercial LPG cylinder has been revised to Rs 1,740.50, while the price of the 14.2 kg domestic LPG cylinder remains unchanged.

President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her ninth consecutive Union Budget presentation.

Against a backdrop of global uncertainty and rising tariff tensions, the Union Budget is expected to double down on shielding the Indian economy while keeping finances in check. Policymakers face tough trade-offs, but the broad direction is clear: manufacturing-led growth with fiscal prudence.

Here’s what to watch in today’s Budget:

Big export ambition: India is targeting a threefold jump in exports by 2035, with a sharp focus on manufacturing.

Manufacturing exports push: The government aims to lift manufacturing exports to $1.3 trillion annually, signalling a long-term structural shift.

15 priority sectors: Budgetary support is expected for 15 key industries, including semiconductors, advanced technologies, metals, and labour-intensive sectors.

Manufacturing hubs: Nearly $1 billion is likely to be allocated to build infrastructure across around 30 manufacturing hubs, designed to boost scale and competitiveness.

High-tech incentives: Grants of about $218 million are expected for advanced chips and energy storage, reinforcing India’s tech and energy transition goals.

Easing business friction: Expect measures to cut red tape, speed up approvals, and better align tariffs to support domestic manufacturing.

Jobs via infrastructure: Focused spending on long-term infrastructure projects is expected to anchor job creation.

Targeted industry support: Financial assistance to industries is likely to be decided case by case.

ClickPost argues that Budget 2026 must move beyond building infrastructure and focus on making commerce economically sustainable. Key priorities include digitising reverse logistics, standardising delivery verification, and designing labour reforms that reflect very different risk profiles across sectors.

“Budget 2026 must answer a more complex question: Can India make serving Bharat economically sustainable across both B2C and B2B commerce?” says the report.  

A new ClickPost report analysing over 8.3 lakh electronics shipments suggests GST 2.0 has triggered a major behavioural shift in Indian consumption, rather than just a tax adjustment. The study compares data from July to December 2024 and July to December 2025 to track changes in household spending.

₹10 lakh crore capex delivers, infrastructure no longer the bottleneck

The report notes that sustained public capex of over ₹10 lakh crore annually and PM Gati Shakti have transformed India’s logistics backbone. Tier-3 cities saw a nearly 8% surge in peak-season volumes with only a marginal rise in delivery time, while metros and Tier-1 cities became faster despite higher loads.

• 8:30 AM: Finance Minister Nirmala Sitharaman will leave her residence for the Ministry of Finance.
• 8:45 AM: The Finance Minister will arrive at Kartavya Bhavan-1 (Man Singh Road).
• 9:00 AM: A traditional photo session of the Finance Minister and her budget team will take place outside the Ministry of Finance.
• 9:30 AM: The Finance Minister will meet President Droupadi Murmu at Rashtrapati Bhavan to present the budget documents.
• 9:50 AM: The Finance Minister will arrive at Parliament House. 
• 10:15 AM: A meeting of the Union Cabinet, chaired by the Prime Minister, will be held to formally approve the budget.
• 11:00 AM: The Lok Sabha proceedings will begin. Following this, the Finance Minister will present the budget speech. The initial part of the speech will highlight the government's achievements and key figures.
• Between 1:00 PM and 2:00 PM: The Finance Minister will hold a press conference to brief the media on the key budget announcements.

The Economic Survey released last week came across as a cautious note on 'global risks inside a package of good news'. The message was clear. India’s growth story is now more structural than cyclical.

Let's have a recap of the key highlights of the Economic Survey 2025-26

- The Survey described this phase as a growth powerhouse moment, while flagging continued risks from volatile global capital flows and geopolitical uncertainty.

- It underlined that the government's focus will remain on keeping public finances in check, even as it pushes for higher growth.

- One of the key takeaways is that the Budget is expected to set the tone for India’s long-term ambition of becoming a $5 trillion economy.

- The Survey upgraded India’s potential GDP growth to above 7 per cent, well ahead of the global average of around 3 per cent. Developed economies are projected to grow at roughly 2 per cent, while emerging markets are expected to expand by about 4 per cent.

- Sector-wise, services continue to lead with growth close to 9 per cent, reinforcing India’s position as the world’s digital back office.

- Manufacturing activity is also picking up pace, running above long-term averages.

- The Survey noted that investment momentum remains strong and domestic demand continues to show resilience, even as global headwinds persist.

Given India’s household gold holdings of around 24,000 tonnes, Suvankar Sen, Managing Director and CEO of Senco Gold Ltd, said “continued policy focus on innovative mechanisms to mobilise physical gold can help unlock significant long-term value for the economy.”

Sen added that measures such as a review of the 6% import duty, skill development for karigars, wider use of technology, and more flexibility for SEZ units to serve domestic demand would "further reinforce the organised jewellery sector’s contribution to employment, consumption and exports.”

Suvankar Sen, MD & CEO, Senco Gold Ltd, while outlining key expectations from the upcoming Union Budget for the organised jewellery sector, noted that “Despite volatility in gold and silver prices, consumer demand in India has remained resilient, though more carefully budgeted, reaffirming gold jewellery’s enduring significance as a symbol of heritage and long-term wealth creation."

“With gold prices expected to remain elevated, the industry looks forward to policy measures that further enhance affordability and support demand stability,” he said.

“In this context, initiatives such as regulated small-ticket EMI options for gold jewellery and a review of the current 3% GST structure could meaningfully ease consumer burden and encourage higher participation in the formal market.”

He also pointed to the growing popularity of old gold exchange, which, he said, now makes up “nearly 45% of transactions”. 

Housewives across Andhra Pradesh are looking to the upcoming Union Budget for relief from rising household expenses and price pressures. Sushma Kesavarapu, from the Kothapeta constituency, said "women managing household finances are expecting a people-friendly budget that eases daily economic burdens."

Speaking to ANI here, she said, "The budget should prioritise reducing household expenses, strengthening family savings, and improving access to healthcare and education to ensure long-term financial security. Any reduction in GST on essential household goods would provide immediate relief to housewives."
Kesavarapu also highlighted the need for tax relief for middle-class families, noting that increased disposable income would help households better manage education costs, healthcare expenses, and day-to-day needs. According to her, measures aimed at easing the tax burden would directly benefit families struggling with inflation.

Former Power Secretary Alok Kumar says that “There is a big requirement for building the capacity of state-owned discoms.”

“It is necessary to leverage new technologies by providing the proper training and tools, for which funds are currently insufficient. In order to improve on areas such as data management, capacity to handle data, future planning, and leverage new technology and models, it is the need of the hour to invest and fill this gap on a large scale.”

If done so, “the gains will be tremendous,” he predicts.

Small business owners in Hyderabad have voiced their expectations for the upcoming Union Budget, pointing to growing pressure from higher taxes and rising procurement costs. Several seasonal vendors and small shop operators said that heavy GST and other indirect levies on everyday goods are making it harder to sustain their businesses while keeping prices reasonable for customers.

Traders noted that repeated price hikes in essential commodities have pushed up stocking costs, squeezed profit margins, and slowed daily sales. Many have called on the Centre to consider cutting or waiving GST on basic food and dairy items such as milk and sugar, arguing that tax relief would ease the burden on both small retailers and consumers.

No,  Nirmala Sitharaman will be the second Finance Minister to present a Union Budget on a Sunday. Before Sitharaman, Yashwant Sinha presented the financial document on February 28, 1999, which was a Sunday. 

By presenting the Union Budget 2026 on February 1, Finance Minister Nirmala Sitharaman would become the country’s first finance minister to present nine Union Budgets consecutively.

India’s stock markets will remain open for trading on Sunday (Feb 1). The special weekend session will let investors respond to policy announcements in real time during market hours.

The Union Budget 2026 will be presented in Parliament’s Central Hall, with the live telecast of the Budget speech beginning sharply at 11 am. The proceedings will air live on Sansad TV and Doordarshan’s DD National channel. WION will also broadcast the speech live.

The Economic Survey 2025–26 highlights a historic milestone for India’s economy: the country recorded an average retail inflation of 1.7 per cent between April and December 2025, marking the lowest rate since the Consumer Price Index (CPI) series began. This unprecedented moderation in prices has been achieved amidst a complex global economic environment and reflects the effectiveness of India’s macroeconomic management.

Click here to read

The Economic Survey 2025–26 has flagged a sharp increase in digital addiction and screen-related mental health challenges among children and adolescents in India. Terming the rise as alarming, it warns that excessive engagement with smartphones, social media, gaming, and online platforms is starting to take a toll on well-being, learning outcomes, and long-term economic productivity. The survey defines digital addiction as a persistent, excessive, or compulsive use of digital devices that leads to psychological distress and functional impairment.

Click here to read

Chief Economic Advisor V Anantha Nageswaran has pointed out that the Foreign Direct Investment have been on the weaker side, “below their potential” for the fiscal year 2025-26. This is particularly due to the structural and cyclical factor that influences the capital inflows. The low FDI was attributed to the profit-taking by investors who had invested in infrastructure projects in the previous decades. The other structural problem is the compulsion of Indian businesses to invest overseas.

Click here to read

As a trade deal between India and the United States stays elusive, with the threat of US President Donald Trump's tariffs hanging over New Delhi, how exposed is the Indian rupee to global political shocks? The Economic Survey 2025–26 offers a cautious answer.

Here's what it says

This year's "report card" of the Indian economy has laid out an ambitious but cautious roadmap for India's medium-term growth, arguing that "deregulation" and greater economic freedom will be central to sustaining high growth in a fragmenting global economy.

According to the Economic Survey, to realise its economic aspirations of becoming "Viksit Bharat" by 2047, India needs to achieve a growth rate of around eight per cent (8%) "at constant prices, on average" for at least 10 to 20 years.

Read more here

The Union Budget's proposals to extend tax exemptions send a strong signal to global investors and significantly strengthen GIFT City's position as an international financial services hub, said Sanjay Kaul, Managing Director and Group CEO of GIFT City, following the Budget announcement by the central government on Sunday.

Presenting the Budget for 2026-27, Finance Minister Nirmala Sitharaman proposed to increase the period of deduction under section 147 to 20 consecutive years out of 25 years for units in IFSC and 20 consecutive years for OBUs. It was also proposed that the business income of these units from IFSC after the expiry of the period of deduction will be taxed at a rate of 15 per cent, to increase the competitiveness of IFSC.

Senior Congress leader P Chidambaram on Sunday said the Union Budget presented by Finance Minister Nirmala Sitharaman in Parliament earlier in the day "failed the test of economic strategy and economic statesmanship."

Addressing a press conference, Chidambaram, a former Finance Minister, said he is not sure if the Finance Minister and the government read the Economic Survey 2025-26 and even if they have, they have decided to discard the challenged and fall back on "their favourite pastime of throwing words at the people".

The Ministry of Railways received its highest-ever outlay in the Union Budget 2026, with the Union Government putting aside Rs 2,78,030 crores for Indian Railways along with a capital expenditure (capex) of Rs 2,93,030 crores for the financial year 2026-27. In a major step towards high-speed rail connectivity in the country, Finance Minister Nirmala Sitharaman announced seven new high-speed rail corridors across the country. At present, India does not have any functional high-speed or bullet train corridor. The first bullet train is currently under construction between Ahmedabad and Mumbai.

Tamil Nadu Chief Minister MK Stalin on Sunday strongly criticised the Union Budget 2026-27, stating that it has once again ignored the interests of Tamil Nadu and failed to address the needs of any section of society. "The Union Government's Budget, which was eagerly awaited, has delivered an even greater disappointment than usual," Stalin said in a statement.

Fulfilling the long-standing demands of armed forces to increase capital outlay for defence to provide fiscal headroom for modernisation, the Union Budget 2026 set aside Rs 7.85 lakh crore for defence, a sharp uptick from Rs 6.81 lakh crore last year--a hike of around 15 per cent.

Responding to Lok Sabha LoP Rahul Gandhi’s post on X criticising the Union Budget, FM Nirmala Sitharaman said she did not understand what “course correction” was being referred to, asserting that India’s economic fundamentals remain strong.

She said global uncertainty has impacted several sectors, and the government has rolled out multiple schemes to support small and medium enterprises, textiles, leather, rural workers, farmers, women entrepreneurs and self-help groups to cushion them from external volatility.

She added that political criticism was welcome, but said she was open to responding to arguments backed by facts, underlining that the Budget focuses on protecting ordinary citizens from global economic shocks.

Defence Minister Rajnath Singh has hailed the Union Budget 2026-27 and said it will help in further strengthening India’s defence capabilities. He thanked Prime Minister Narendra Modi for allocating a record Rs 7.85 lakh crore for the defence sector.

“This budget is designed to ensure that the dividends of growth reach every section of society, with special focus on the poor, the underprivileged, and the disadvantaged,” he added.

BJP national president Nitin Nabin hailed Union Budget 2026-27 and lauded the proposals in the manufacturing sector saying it aimed for ‘Sankalp se siddhi’ (accomplishment through resolution) for Viksit Bharat 2047 and will create new avenues for employment.

“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.

Union Finance Minister Nirmala Sitharaman said in post-Budget press conference that the government is laying path to maintain growth momentum. 

“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.”

PM Narendra Modi said on the presented Union Budget 2026-27 on Sunday, "This is one such unique budget which has focus on bringing down fiscal deficit, on bringing inflation under control and with this, Budget also has the combination of high CapEx and high growth."

On Union Budget, FICCI President Anant Goenka told news agency ANI," This Budget is one of stability and continuity in a world where we are seeing a lot of uncertainty and change. India has emerged as a macroeconomic environment with high macroeconomic stability and controlled inflation. This Budget builds on the government's past focus areas. It places a strong emphasis on the macro view. The Reform Express continues, and manufacturing remains a high-priority area. It is pleasant to see a focus on FDI coming into India, with tax holidays for MNCs. Fiscal deficit target has been met, and it's positive to see the 4.4% figure."

Sameer Gupta, Partner and National Tax Leader, EY India said on on Union Budget 2026–27, “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 ₹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.”

On market crash after the Finance Minister Nirmala Sitharaman presented the Union Budget 2026-26, Congress MP Shashi Tharoor told news agency ANI, "What can I say? Can we be happy if they are disappointed?"

Adhil Shetty, CEO of BankBazaar, said on the Union Budget 2026–27 that it would bolster the foundations of India’s formal credit and financial system through targeted, data-backed measures.

" Union Budget 2026–27 strengthens the foundations of India’s formal credit and financial system through targeted, data-backed measures. The proposed ₹10,000 crore SME Growth Fund is a key intervention. It addresses the long-standing equity and growth capital gap faced by scaling MSMEs, which employ over 11 crore people and contribute nearly 30 per cent of India’s GDP. Better access to patient capital can help viable enterprises move from survival mode to sustainable expansion.

The continued focus on strengthening the TReDS and invoice discounting framework directly tackles MSME liquidity stress. Faster receivables financing improves cash flows, reduces dependence on informal borrowing, and lowers working capital costs. This is critical for small businesses operating on thin margins.

Within banking and NBFCs, the proposal to constitute a high-level committee on banking for Viksit Bharat signals a comprehensive review of the sector. The focus on financial stability, inclusion, consumer protection, and technology adoption is timely. The government’s clearer articulation of the role of NBFCs, including defined credit targets and technology-led efficiency, reinforces their importance in last-mile credit delivery.

For households, the reduction in TCS under the Liberalised Remittance Scheme to 2 per cent from 5 per cent for foreign travel, education, and medical expenses will ease upfront cash-flow pressure. It improves affordability for overseas education and healthcare while reducing short-term liquidity strain.

Overall, Budget 2026–27 takes a measured approach. By combining capital support, digital and AI-led infrastructure, and regulatory reform, it aims to deepen formal credit penetration, improve liquidity, and strengthen trust across India’s financial system," he added.

Union Minister Chirag Paswan told ANI, "Today's budget has emphasised on infrastructure, rural infrastructure, urbanisation, and self-reliance... This is a budget that lays a strong foundation for a developed India."

On the Union Budget, Union Minister Jyotiraditya Scindia told news agency ANI," It is a progressive Budget that focuses on every sector of the Indian economy. It is a Budget for every citizen. Particularly, the areas of telecom and DoNEAR have received strong impetus in this Budget. It will empower and power India. A lot of institutions and waterways have been allocated to the North East."

Madhya Pradesh Dy CM Jagdish Devda said after Finance Minister Nirmala Sitharaman announced the Union Budget 2026 on Sunday, “Farmers, youth, women, I think no one has been left out... All sectors have been fully included in the budget.” “This budget is dedicated to the people... It's such a good budget, and the opposition is speaking out against it because they are unsettled by its quality,” he added.

Sensex off day’s low, down 800 Pts; Nifty reclaims 25,000

After delivering an hour and a half long speech, FM Nirmala Sitharaman tabled the Budget 2026-2027. Lok Sabha speaker Om Birla adjourned the house 

FM Nirmala Sitharaman made the following announcement under indirect taxes:

• Import duty on nuclear plants exempted till 2035
• Limit for duty free imports in sea food for exports at 3% of FOB value allowed. Earlier it was 1%
• Time Period for export of final product in leather industry increased from 6 months to 1 year
• BCD in Li-ion cells exempt
• Biogas CNG exempt from import duty
• Duty exempt from manufacture of parts in MRO in Defence and civil aircraft manufacturing
• Duty for imported goods for personal use over limit reduced to 10% from 20%. 
• Duties reduced on various drugs and medicines for special treatments
• Customs processes to have minimal intervention of officers 
• AEOs to get 30 days to do paperwork

The FM announces various exemptions for various taxpayers: MAT on NRIs waived in presumptive scheme (44ADA, 44AD, 44AE)

• TCS rate reductions announced
• STT on futures increased to 0.05% from 0.025%
• Corporate Tax Rate reduced in New Tax Regime with MAT setoff allowed only in New Tax Regime.
• MAT credit accumulation not allowed from 1st April 2026
• Brought Forward MAT credit is allowed to be set off

Buyback taxation changes announced by the FM 

• Proposed to change buyback as capital gains, instead of like dividends 
• Promoters to pay additional tax of 22 per cent tax for buyback of shares

FM Nirmala Sitharaman announces tax holiday till 2047 for companies providing cloud services to Indian companies through India based data centres. She also proposes 15% cost allowed as safe harbor for data centre entities through Indian subsidiaries.

As FM Nirmala Sitharaman began her major announcements on direct taxes under Part B of the Budget speech, Indian stock turned red

FM Nirmala Sitharaman proposes 6-month foreign asset disclosure scheme under two categories 

Who didn't disclose: Upto Rs 1 crore @ 30% of FMV and 30% of additional tax as penalty 

Those who disclosed and/or paid tax but didn't declare asset acquired: Upto Rs 5 crores 
 

FM Sitharaman, while delivering Budget speech on Sunday, made these announcements about Income Tax

• 1.New income tax regime to come into effect from 1 April 2026
• 2.Any interest awarded by Motor Accident Claims Tribunal to be tax-free.
• 3. TCS Rate on overseas tour programs reduced to 2%
• 4. TCS under LRS to be reduced to 2%.
• 5. TDS under 194C (Contractors) is to be at 2% or 1%.
• 6. Depositories to accept 15G/15H to reduce TDS for depositors.
• 7. Revised Returns allowed to 31st March with fees.
• 8. ITR 1 and 2 till 31st July.
• 9. Non Audit Trusts - 31st August
• 10. TAN not required for NRIs.
• 11. Scheme for disclosure of Foreign Assets and Income for two types of taxpayers. Limit of Assets upto ₹1,00,00,000 and ₹5,00,00,000 - 30% tax and 30% penalty for Category A. 1,00,000 for Category B.
• 12. Quantum of prepayment reduced to 10% for Appeals.
• 13. Updated Return allowed for reassessment proceedings allowed.
• 14. Penalties for technical defaults (audit missing) to be converted to fees. No prosecution.
• 15. Non production of books of accounts and TDS payments decriminalized.
• 16. Fines conversion by courts allowed

Union Budget 2026 LIVE Updates | The Finance Minister announced the launching of Nimhans Mental Health Institute in North India.

In wildlife, FM Sitharaman said that India will host the Global Big Cats Summit with ministers from 95 range countries to deliberate on conservation strategies.

Union Budget 2026 LIVE Updates | FM Sitharaman proposes Digital Knowledge Grid to document heritage sites & create local jobs. World-class trekking & hiking trails in HP, Uttarakhand, J&K & the Ghats.

Union Budget 2026 LIVE Updates | FM Sitharaman' announces launching of 'Khelo India mission' 

Under Orange Economy,  FM Sitharaman announces:

• AVGC sector will require 2 million professionals by 2030 
• Will support content creation labs across 15,000 schools 
• New national institute of design to boost design education in East India 
• 5 University townships in major industrial corridors. 
• Girls hostel in every district

Union Budget 2026 LIVE Updates | FM Sitharaman proposes 5 university townships in vicinity of industrial corridors to help in skill building. 1 girls hostel in every district with VGF support

"I propose setting up high level committee on banking for Viksit Bharat," said Finance Minister Nirmala Sitharaman. She also said Power Finance Corporation and Rural Electrification Corporations to be restructured. She added, “Comprehensive review of forex management to create more contemporary framework”

Union Budget 2026 LIVE Updates | FM Sitharaman says government will develop 7 high-speed rail corridors namely:

• Mumbai Pune
• Pune Hyderabad 
• Hyderabad Bengaluru
• Hyderabad Chennai
• Chennai to Bengaluru
• Delhi to Varanasi 
• Varanasi to Siliguri

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ₹12.2 lakh crore on infrastructure spending. It includes:

• New Dedicated Freight Corridors and operationalize
• 20 new national waterways 
• Ship repair (inland waterways) centres
• Coastal cargo incentivisation scheme 
• Sea Plane manufacturing boost

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman provides a major push for textile sector. She proposed the following

1. National fibre scheme 2. Textile expansion and employment scheme 3. National handloom program 4. Tax eco initiative 5. Samaksh 2.0 6. Mega textile parks 7. Mahatma Gandhi Gram Swaraj Initiative

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes Mahatma Gandhi Gram Swaraj initiative to benefit weavers, village industries, rural youth 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes 'Integrated schemes for textiles'

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman says, “A scheme for rare earth magnets was launched in November 2025. Support for mineral-rich states of Odisha, Andhra Pradesh, Kerala, and Tamil Nadu to develop rare earth corridors.”

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman announces launching of India SemiConductor Mission 2.0 to fortify supply chains.

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ‘Biopharma Shakti’ with the outlay Rs. 10,000 crores over next 10 years 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman briefs on 'Reform Express'. She says “Government has rolled out 350 reforms. GST 2.0, QCOs and is working on deregulation.”

• First kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics.
• Second kartavya is to fulfill aspirations of our people and build their capacity, making them strong partners in India's path to prosperity.
• 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."

Under Kartavya 1, six interventions are proposed : - Scaling up manufacturing in 7 frontier sectors - Rejuvenating legacy industries -Championing MSMEs - Long-term security and stability -Developing city economic regions

Union Budget 2026 LIVE Updates | FM Sitharaman presents Budget 2026

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The Union Cabinet has approved the Union Budget 2026-27. Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2026-27 in Parliament shortly.

Gold and silver prices slumped nearly 9% each on the Multi Commodity Exchange (MCX) on Sunday (Feb 1), extending one of the sharpest two-day sell-offs ever seen in the precious metals market.

The crash has coincided with heightened Budget day speculation around possible import duty changes.

MCX gold fell by Rs 13,711 to Rs 1,38,634 per 10 grams, while silver dropped by Rs 26,273 to Rs 2,65,652 per kilogram. The losses deepened from the initial six per cent decline seen in early trade.

The rout follows extreme volatility in global markets. Silver had plunged as much as 37 per cent intraday on Friday, while spot gold prices fell 12 per cent, marking the steepest single-day fall in silver on record.

Indian stock markets remained volatile ahead of the Union Budget, with benchmark indices swinging between gains and losses on the special trading day. 

The Sensex opened on a flat note before slipping into the red and then recovering to trade in positive territory. The Nifty followed a similar pattern, reflecting cautious sentiment as investors waited for key announcements from the Budget speech.

Sensex trading at 82,328.15 points, NSE at 25,314.60, on the day of presentation on Union Budget 2026-27

Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in January 2026, marking a robust 6.2% growth over the same month last year, ANI reported, citing government sources.

Oil marketing companies increased the price of 19 kg commercial LPG cylinders by Rs 49, with the new rates coming into effect from Sunday.
In the national capital, the retail price of a 19 kg commercial LPG cylinder has been revised to Rs 1,740.50, while the price of the 14.2 kg domestic LPG cylinder remains unchanged.

President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her ninth consecutive Union Budget presentation.

Against a backdrop of global uncertainty and rising tariff tensions, the Union Budget is expected to double down on shielding the Indian economy while keeping finances in check. Policymakers face tough trade-offs, but the broad direction is clear: manufacturing-led growth with fiscal prudence.

Here’s what to watch in today’s Budget:

Big export ambition: India is targeting a threefold jump in exports by 2035, with a sharp focus on manufacturing.

Manufacturing exports push: The government aims to lift manufacturing exports to $1.3 trillion annually, signalling a long-term structural shift.

15 priority sectors: Budgetary support is expected for 15 key industries, including semiconductors, advanced technologies, metals, and labour-intensive sectors.

Manufacturing hubs: Nearly $1 billion is likely to be allocated to build infrastructure across around 30 manufacturing hubs, designed to boost scale and competitiveness.

High-tech incentives: Grants of about $218 million are expected for advanced chips and energy storage, reinforcing India’s tech and energy transition goals.

Easing business friction: Expect measures to cut red tape, speed up approvals, and better align tariffs to support domestic manufacturing.

Jobs via infrastructure: Focused spending on long-term infrastructure projects is expected to anchor job creation.

Targeted industry support: Financial assistance to industries is likely to be decided case by case.

ClickPost argues that Budget 2026 must move beyond building infrastructure and focus on making commerce economically sustainable. Key priorities include digitising reverse logistics, standardising delivery verification, and designing labour reforms that reflect very different risk profiles across sectors.

“Budget 2026 must answer a more complex question: Can India make serving Bharat economically sustainable across both B2C and B2B commerce?” says the report.  

A new ClickPost report analysing over 8.3 lakh electronics shipments suggests GST 2.0 has triggered a major behavioural shift in Indian consumption, rather than just a tax adjustment. The study compares data from July to December 2024 and July to December 2025 to track changes in household spending.

₹10 lakh crore capex delivers, infrastructure no longer the bottleneck

The report notes that sustained public capex of over ₹10 lakh crore annually and PM Gati Shakti have transformed India’s logistics backbone. Tier-3 cities saw a nearly 8% surge in peak-season volumes with only a marginal rise in delivery time, while metros and Tier-1 cities became faster despite higher loads.

• 8:30 AM: Finance Minister Nirmala Sitharaman will leave her residence for the Ministry of Finance.
• 8:45 AM: The Finance Minister will arrive at Kartavya Bhavan-1 (Man Singh Road).
• 9:00 AM: A traditional photo session of the Finance Minister and her budget team will take place outside the Ministry of Finance.
• 9:30 AM: The Finance Minister will meet President Droupadi Murmu at Rashtrapati Bhavan to present the budget documents.
• 9:50 AM: The Finance Minister will arrive at Parliament House. 
• 10:15 AM: A meeting of the Union Cabinet, chaired by the Prime Minister, will be held to formally approve the budget.
• 11:00 AM: The Lok Sabha proceedings will begin. Following this, the Finance Minister will present the budget speech. The initial part of the speech will highlight the government's achievements and key figures.
• Between 1:00 PM and 2:00 PM: The Finance Minister will hold a press conference to brief the media on the key budget announcements.

The Economic Survey released last week came across as a cautious note on 'global risks inside a package of good news'. The message was clear. India’s growth story is now more structural than cyclical.

Let's have a recap of the key highlights of the Economic Survey 2025-26

- The Survey described this phase as a growth powerhouse moment, while flagging continued risks from volatile global capital flows and geopolitical uncertainty.

- It underlined that the government's focus will remain on keeping public finances in check, even as it pushes for higher growth.

- One of the key takeaways is that the Budget is expected to set the tone for India’s long-term ambition of becoming a $5 trillion economy.

- The Survey upgraded India’s potential GDP growth to above 7 per cent, well ahead of the global average of around 3 per cent. Developed economies are projected to grow at roughly 2 per cent, while emerging markets are expected to expand by about 4 per cent.

- Sector-wise, services continue to lead with growth close to 9 per cent, reinforcing India’s position as the world’s digital back office.

- Manufacturing activity is also picking up pace, running above long-term averages.

- The Survey noted that investment momentum remains strong and domestic demand continues to show resilience, even as global headwinds persist.

Given India’s household gold holdings of around 24,000 tonnes, Suvankar Sen, Managing Director and CEO of Senco Gold Ltd, said “continued policy focus on innovative mechanisms to mobilise physical gold can help unlock significant long-term value for the economy.”

Sen added that measures such as a review of the 6% import duty, skill development for karigars, wider use of technology, and more flexibility for SEZ units to serve domestic demand would "further reinforce the organised jewellery sector’s contribution to employment, consumption and exports.”

Suvankar Sen, MD & CEO, Senco Gold Ltd, while outlining key expectations from the upcoming Union Budget for the organised jewellery sector, noted that “Despite volatility in gold and silver prices, consumer demand in India has remained resilient, though more carefully budgeted, reaffirming gold jewellery’s enduring significance as a symbol of heritage and long-term wealth creation."

“With gold prices expected to remain elevated, the industry looks forward to policy measures that further enhance affordability and support demand stability,” he said.

“In this context, initiatives such as regulated small-ticket EMI options for gold jewellery and a review of the current 3% GST structure could meaningfully ease consumer burden and encourage higher participation in the formal market.”

He also pointed to the growing popularity of old gold exchange, which, he said, now makes up “nearly 45% of transactions”. 

Housewives across Andhra Pradesh are looking to the upcoming Union Budget for relief from rising household expenses and price pressures. Sushma Kesavarapu, from the Kothapeta constituency, said "women managing household finances are expecting a people-friendly budget that eases daily economic burdens."

Speaking to ANI here, she said, "The budget should prioritise reducing household expenses, strengthening family savings, and improving access to healthcare and education to ensure long-term financial security. Any reduction in GST on essential household goods would provide immediate relief to housewives."
Kesavarapu also highlighted the need for tax relief for middle-class families, noting that increased disposable income would help households better manage education costs, healthcare expenses, and day-to-day needs. According to her, measures aimed at easing the tax burden would directly benefit families struggling with inflation.

Former Power Secretary Alok Kumar says that “There is a big requirement for building the capacity of state-owned discoms.”

“It is necessary to leverage new technologies by providing the proper training and tools, for which funds are currently insufficient. In order to improve on areas such as data management, capacity to handle data, future planning, and leverage new technology and models, it is the need of the hour to invest and fill this gap on a large scale.”

If done so, “the gains will be tremendous,” he predicts.

Small business owners in Hyderabad have voiced their expectations for the upcoming Union Budget, pointing to growing pressure from higher taxes and rising procurement costs. Several seasonal vendors and small shop operators said that heavy GST and other indirect levies on everyday goods are making it harder to sustain their businesses while keeping prices reasonable for customers.

Traders noted that repeated price hikes in essential commodities have pushed up stocking costs, squeezed profit margins, and slowed daily sales. Many have called on the Centre to consider cutting or waiving GST on basic food and dairy items such as milk and sugar, arguing that tax relief would ease the burden on both small retailers and consumers.

No,  Nirmala Sitharaman will be the second Finance Minister to present a Union Budget on a Sunday. Before Sitharaman, Yashwant Sinha presented the financial document on February 28, 1999, which was a Sunday. 

By presenting the Union Budget 2026 on February 1, Finance Minister Nirmala Sitharaman would become the country’s first finance minister to present nine Union Budgets consecutively.

India’s stock markets will remain open for trading on Sunday (Feb 1). The special weekend session will let investors respond to policy announcements in real time during market hours.

The Union Budget 2026 will be presented in Parliament’s Central Hall, with the live telecast of the Budget speech beginning sharply at 11 am. The proceedings will air live on Sansad TV and Doordarshan’s DD National channel. WION will also broadcast the speech live.

The Economic Survey 2025–26 highlights a historic milestone for India’s economy: the country recorded an average retail inflation of 1.7 per cent between April and December 2025, marking the lowest rate since the Consumer Price Index (CPI) series began. This unprecedented moderation in prices has been achieved amidst a complex global economic environment and reflects the effectiveness of India’s macroeconomic management.

Click here to read

The Economic Survey 2025–26 has flagged a sharp increase in digital addiction and screen-related mental health challenges among children and adolescents in India. Terming the rise as alarming, it warns that excessive engagement with smartphones, social media, gaming, and online platforms is starting to take a toll on well-being, learning outcomes, and long-term economic productivity. The survey defines digital addiction as a persistent, excessive, or compulsive use of digital devices that leads to psychological distress and functional impairment.

Click here to read

Chief Economic Advisor V Anantha Nageswaran has pointed out that the Foreign Direct Investment have been on the weaker side, “below their potential” for the fiscal year 2025-26. This is particularly due to the structural and cyclical factor that influences the capital inflows. The low FDI was attributed to the profit-taking by investors who had invested in infrastructure projects in the previous decades. The other structural problem is the compulsion of Indian businesses to invest overseas.

Click here to read

As a trade deal between India and the United States stays elusive, with the threat of US President Donald Trump's tariffs hanging over New Delhi, how exposed is the Indian rupee to global political shocks? The Economic Survey 2025–26 offers a cautious answer.

Here's what it says

This year's "report card" of the Indian economy has laid out an ambitious but cautious roadmap for India's medium-term growth, arguing that "deregulation" and greater economic freedom will be central to sustaining high growth in a fragmenting global economy.

According to the Economic Survey, to realise its economic aspirations of becoming "Viksit Bharat" by 2047, India needs to achieve a growth rate of around eight per cent (8%) "at constant prices, on average" for at least 10 to 20 years.

Read more here

The Union Budget's proposals to extend tax exemptions send a strong signal to global investors and significantly strengthen GIFT City's position as an international financial services hub, said Sanjay Kaul, Managing Director and Group CEO of GIFT City, following the Budget announcement by the central government on Sunday.

Presenting the Budget for 2026-27, Finance Minister Nirmala Sitharaman proposed to increase the period of deduction under section 147 to 20 consecutive years out of 25 years for units in IFSC and 20 consecutive years for OBUs. It was also proposed that the business income of these units from IFSC after the expiry of the period of deduction will be taxed at a rate of 15 per cent, to increase the competitiveness of IFSC.

Senior Congress leader P Chidambaram on Sunday said the Union Budget presented by Finance Minister Nirmala Sitharaman in Parliament earlier in the day "failed the test of economic strategy and economic statesmanship."

Addressing a press conference, Chidambaram, a former Finance Minister, said he is not sure if the Finance Minister and the government read the Economic Survey 2025-26 and even if they have, they have decided to discard the challenged and fall back on "their favourite pastime of throwing words at the people".

The Ministry of Railways received its highest-ever outlay in the Union Budget 2026, with the Union Government putting aside Rs 2,78,030 crores for Indian Railways along with a capital expenditure (capex) of Rs 2,93,030 crores for the financial year 2026-27. In a major step towards high-speed rail connectivity in the country, Finance Minister Nirmala Sitharaman announced seven new high-speed rail corridors across the country. At present, India does not have any functional high-speed or bullet train corridor. The first bullet train is currently under construction between Ahmedabad and Mumbai.

Tamil Nadu Chief Minister MK Stalin on Sunday strongly criticised the Union Budget 2026-27, stating that it has once again ignored the interests of Tamil Nadu and failed to address the needs of any section of society. "The Union Government's Budget, which was eagerly awaited, has delivered an even greater disappointment than usual," Stalin said in a statement.

Fulfilling the long-standing demands of armed forces to increase capital outlay for defence to provide fiscal headroom for modernisation, the Union Budget 2026 set aside Rs 7.85 lakh crore for defence, a sharp uptick from Rs 6.81 lakh crore last year--a hike of around 15 per cent.

Responding to Lok Sabha LoP Rahul Gandhi’s post on X criticising the Union Budget, FM Nirmala Sitharaman said she did not understand what “course correction” was being referred to, asserting that India’s economic fundamentals remain strong.

She said global uncertainty has impacted several sectors, and the government has rolled out multiple schemes to support small and medium enterprises, textiles, leather, rural workers, farmers, women entrepreneurs and self-help groups to cushion them from external volatility.

She added that political criticism was welcome, but said she was open to responding to arguments backed by facts, underlining that the Budget focuses on protecting ordinary citizens from global economic shocks.

Defence Minister Rajnath Singh has hailed the Union Budget 2026-27 and said it will help in further strengthening India’s defence capabilities. He thanked Prime Minister Narendra Modi for allocating a record Rs 7.85 lakh crore for the defence sector.

“This budget is designed to ensure that the dividends of growth reach every section of society, with special focus on the poor, the underprivileged, and the disadvantaged,” he added.

BJP national president Nitin Nabin hailed Union Budget 2026-27 and lauded the proposals in the manufacturing sector saying it aimed for ‘Sankalp se siddhi’ (accomplishment through resolution) for Viksit Bharat 2047 and will create new avenues for employment.

“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.

Union Finance Minister Nirmala Sitharaman said in post-Budget press conference that the government is laying path to maintain growth momentum. 

“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.”

PM Narendra Modi said on the presented Union Budget 2026-27 on Sunday, "This is one such unique budget which has focus on bringing down fiscal deficit, on bringing inflation under control and with this, Budget also has the combination of high CapEx and high growth."

On Union Budget, FICCI President Anant Goenka told news agency ANI," This Budget is one of stability and continuity in a world where we are seeing a lot of uncertainty and change. India has emerged as a macroeconomic environment with high macroeconomic stability and controlled inflation. This Budget builds on the government's past focus areas. It places a strong emphasis on the macro view. The Reform Express continues, and manufacturing remains a high-priority area. It is pleasant to see a focus on FDI coming into India, with tax holidays for MNCs. Fiscal deficit target has been met, and it's positive to see the 4.4% figure."

Sameer Gupta, Partner and National Tax Leader, EY India said on on Union Budget 2026–27, “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 ₹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.”

On market crash after the Finance Minister Nirmala Sitharaman presented the Union Budget 2026-26, Congress MP Shashi Tharoor told news agency ANI, "What can I say? Can we be happy if they are disappointed?"

Adhil Shetty, CEO of BankBazaar, said on the Union Budget 2026–27 that it would bolster the foundations of India’s formal credit and financial system through targeted, data-backed measures.

" Union Budget 2026–27 strengthens the foundations of India’s formal credit and financial system through targeted, data-backed measures. The proposed ₹10,000 crore SME Growth Fund is a key intervention. It addresses the long-standing equity and growth capital gap faced by scaling MSMEs, which employ over 11 crore people and contribute nearly 30 per cent of India’s GDP. Better access to patient capital can help viable enterprises move from survival mode to sustainable expansion.

The continued focus on strengthening the TReDS and invoice discounting framework directly tackles MSME liquidity stress. Faster receivables financing improves cash flows, reduces dependence on informal borrowing, and lowers working capital costs. This is critical for small businesses operating on thin margins.

Within banking and NBFCs, the proposal to constitute a high-level committee on banking for Viksit Bharat signals a comprehensive review of the sector. The focus on financial stability, inclusion, consumer protection, and technology adoption is timely. The government’s clearer articulation of the role of NBFCs, including defined credit targets and technology-led efficiency, reinforces their importance in last-mile credit delivery.

For households, the reduction in TCS under the Liberalised Remittance Scheme to 2 per cent from 5 per cent for foreign travel, education, and medical expenses will ease upfront cash-flow pressure. It improves affordability for overseas education and healthcare while reducing short-term liquidity strain.

Overall, Budget 2026–27 takes a measured approach. By combining capital support, digital and AI-led infrastructure, and regulatory reform, it aims to deepen formal credit penetration, improve liquidity, and strengthen trust across India’s financial system," he added.

Union Minister Chirag Paswan told ANI, "Today's budget has emphasised on infrastructure, rural infrastructure, urbanisation, and self-reliance... This is a budget that lays a strong foundation for a developed India."

On the Union Budget, Union Minister Jyotiraditya Scindia told news agency ANI," It is a progressive Budget that focuses on every sector of the Indian economy. It is a Budget for every citizen. Particularly, the areas of telecom and DoNEAR have received strong impetus in this Budget. It will empower and power India. A lot of institutions and waterways have been allocated to the North East."

Madhya Pradesh Dy CM Jagdish Devda said after Finance Minister Nirmala Sitharaman announced the Union Budget 2026 on Sunday, “Farmers, youth, women, I think no one has been left out... All sectors have been fully included in the budget.” “This budget is dedicated to the people... It's such a good budget, and the opposition is speaking out against it because they are unsettled by its quality,” he added.

Sensex off day’s low, down 800 Pts; Nifty reclaims 25,000

After delivering an hour and a half long speech, FM Nirmala Sitharaman tabled the Budget 2026-2027. Lok Sabha speaker Om Birla adjourned the house 

FM Nirmala Sitharaman made the following announcement under indirect taxes:

• Import duty on nuclear plants exempted till 2035
• Limit for duty free imports in sea food for exports at 3% of FOB value allowed. Earlier it was 1%
• Time Period for export of final product in leather industry increased from 6 months to 1 year
• BCD in Li-ion cells exempt
• Biogas CNG exempt from import duty
• Duty exempt from manufacture of parts in MRO in Defence and civil aircraft manufacturing
• Duty for imported goods for personal use over limit reduced to 10% from 20%. 
• Duties reduced on various drugs and medicines for special treatments
• Customs processes to have minimal intervention of officers 
• AEOs to get 30 days to do paperwork

The FM announces various exemptions for various taxpayers: MAT on NRIs waived in presumptive scheme (44ADA, 44AD, 44AE)

• TCS rate reductions announced
• STT on futures increased to 0.05% from 0.025%
• Corporate Tax Rate reduced in New Tax Regime with MAT setoff allowed only in New Tax Regime.
• MAT credit accumulation not allowed from 1st April 2026
• Brought Forward MAT credit is allowed to be set off

Buyback taxation changes announced by the FM 

• Proposed to change buyback as capital gains, instead of like dividends 
• Promoters to pay additional tax of 22 per cent tax for buyback of shares

FM Nirmala Sitharaman announces tax holiday till 2047 for companies providing cloud services to Indian companies through India based data centres. She also proposes 15% cost allowed as safe harbor for data centre entities through Indian subsidiaries.

As FM Nirmala Sitharaman began her major announcements on direct taxes under Part B of the Budget speech, Indian stock turned red

FM Nirmala Sitharaman proposes 6-month foreign asset disclosure scheme under two categories 

Who didn't disclose: Upto Rs 1 crore @ 30% of FMV and 30% of additional tax as penalty 

Those who disclosed and/or paid tax but didn't declare asset acquired: Upto Rs 5 crores 
 

FM Sitharaman, while delivering Budget speech on Sunday, made these announcements about Income Tax

• 1.New income tax regime to come into effect from 1 April 2026
• 2.Any interest awarded by Motor Accident Claims Tribunal to be tax-free.
• 3. TCS Rate on overseas tour programs reduced to 2%
• 4. TCS under LRS to be reduced to 2%.
• 5. TDS under 194C (Contractors) is to be at 2% or 1%.
• 6. Depositories to accept 15G/15H to reduce TDS for depositors.
• 7. Revised Returns allowed to 31st March with fees.
• 8. ITR 1 and 2 till 31st July.
• 9. Non Audit Trusts - 31st August
• 10. TAN not required for NRIs.
• 11. Scheme for disclosure of Foreign Assets and Income for two types of taxpayers. Limit of Assets upto ₹1,00,00,000 and ₹5,00,00,000 - 30% tax and 30% penalty for Category A. 1,00,000 for Category B.
• 12. Quantum of prepayment reduced to 10% for Appeals.
• 13. Updated Return allowed for reassessment proceedings allowed.
• 14. Penalties for technical defaults (audit missing) to be converted to fees. No prosecution.
• 15. Non production of books of accounts and TDS payments decriminalized.
• 16. Fines conversion by courts allowed

Union Budget 2026 LIVE Updates | The Finance Minister announced the launching of Nimhans Mental Health Institute in North India.

In wildlife, FM Sitharaman said that India will host the Global Big Cats Summit with ministers from 95 range countries to deliberate on conservation strategies.

Union Budget 2026 LIVE Updates | FM Sitharaman proposes Digital Knowledge Grid to document heritage sites & create local jobs. World-class trekking & hiking trails in HP, Uttarakhand, J&K & the Ghats.

Union Budget 2026 LIVE Updates | FM Sitharaman' announces launching of 'Khelo India mission' 

Under Orange Economy,  FM Sitharaman announces:

• AVGC sector will require 2 million professionals by 2030 
• Will support content creation labs across 15,000 schools 
• New national institute of design to boost design education in East India 
• 5 University townships in major industrial corridors. 
• Girls hostel in every district

Union Budget 2026 LIVE Updates | FM Sitharaman proposes 5 university townships in vicinity of industrial corridors to help in skill building. 1 girls hostel in every district with VGF support

"I propose setting up high level committee on banking for Viksit Bharat," said Finance Minister Nirmala Sitharaman. She also said Power Finance Corporation and Rural Electrification Corporations to be restructured. She added, “Comprehensive review of forex management to create more contemporary framework”

Union Budget 2026 LIVE Updates | FM Sitharaman says government will develop 7 high-speed rail corridors namely:

• Mumbai Pune
• Pune Hyderabad 
• Hyderabad Bengaluru
• Hyderabad Chennai
• Chennai to Bengaluru
• Delhi to Varanasi 
• Varanasi to Siliguri

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ₹12.2 lakh crore on infrastructure spending. It includes:

• New Dedicated Freight Corridors and operationalize
• 20 new national waterways 
• Ship repair (inland waterways) centres
• Coastal cargo incentivisation scheme 
• Sea Plane manufacturing boost

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman provides a major push for textile sector. She proposed the following

1. National fibre scheme 2. Textile expansion and employment scheme 3. National handloom program 4. Tax eco initiative 5. Samaksh 2.0 6. Mega textile parks 7. Mahatma Gandhi Gram Swaraj Initiative

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes Mahatma Gandhi Gram Swaraj initiative to benefit weavers, village industries, rural youth 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes 'Integrated schemes for textiles'

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman says, “A scheme for rare earth magnets was launched in November 2025. Support for mineral-rich states of Odisha, Andhra Pradesh, Kerala, and Tamil Nadu to develop rare earth corridors.”

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman announces launching of India SemiConductor Mission 2.0 to fortify supply chains.

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman proposes ‘Biopharma Shakti’ with the outlay Rs. 10,000 crores over next 10 years 

Union Budget 2026 LIVE Updates | In her Budget speech, FM Sitharaman briefs on 'Reform Express'. She says “Government has rolled out 350 reforms. GST 2.0, QCOs and is working on deregulation.”

• First kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics.
• Second kartavya is to fulfill aspirations of our people and build their capacity, making them strong partners in India's path to prosperity.
• 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."

Under Kartavya 1, six interventions are proposed : - Scaling up manufacturing in 7 frontier sectors - Rejuvenating legacy industries -Championing MSMEs - Long-term security and stability -Developing city economic regions

Union Budget 2026 LIVE Updates | FM Sitharaman presents Budget 2026

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The Union Cabinet has approved the Union Budget 2026-27. Finance Minister Nirmala Sitharaman is expected to present the Union Budget 2026-27 in Parliament shortly.

Gold and silver prices slumped nearly 9% each on the Multi Commodity Exchange (MCX) on Sunday (Feb 1), extending one of the sharpest two-day sell-offs ever seen in the precious metals market.

The crash has coincided with heightened Budget day speculation around possible import duty changes.

MCX gold fell by Rs 13,711 to Rs 1,38,634 per 10 grams, while silver dropped by Rs 26,273 to Rs 2,65,652 per kilogram. The losses deepened from the initial six per cent decline seen in early trade.

The rout follows extreme volatility in global markets. Silver had plunged as much as 37 per cent intraday on Friday, while spot gold prices fell 12 per cent, marking the steepest single-day fall in silver on record.

Indian stock markets remained volatile ahead of the Union Budget, with benchmark indices swinging between gains and losses on the special trading day. 

The Sensex opened on a flat note before slipping into the red and then recovering to trade in positive territory. The Nifty followed a similar pattern, reflecting cautious sentiment as investors waited for key announcements from the Budget speech.

Sensex trading at 82,328.15 points, NSE at 25,314.60, on the day of presentation on Union Budget 2026-27

Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in January 2026, marking a robust 6.2% growth over the same month last year, ANI reported, citing government sources.

Oil marketing companies increased the price of 19 kg commercial LPG cylinders by Rs 49, with the new rates coming into effect from Sunday.
In the national capital, the retail price of a 19 kg commercial LPG cylinder has been revised to Rs 1,740.50, while the price of the 14.2 kg domestic LPG cylinder remains unchanged.

President Droupadi Murmu feeds Union Finance Minister Nirmala Sitharaman the customary 'dahi-cheeni' (curd and sugar) ahead of her ninth consecutive Union Budget presentation.

Against a backdrop of global uncertainty and rising tariff tensions, the Union Budget is expected to double down on shielding the Indian economy while keeping finances in check. Policymakers face tough trade-offs, but the broad direction is clear: manufacturing-led growth with fiscal prudence.

Here’s what to watch in today’s Budget:

Big export ambition: India is targeting a threefold jump in exports by 2035, with a sharp focus on manufacturing.

Manufacturing exports push: The government aims to lift manufacturing exports to $1.3 trillion annually, signalling a long-term structural shift.

15 priority sectors: Budgetary support is expected for 15 key industries, including semiconductors, advanced technologies, metals, and labour-intensive sectors.

Manufacturing hubs: Nearly $1 billion is likely to be allocated to build infrastructure across around 30 manufacturing hubs, designed to boost scale and competitiveness.

High-tech incentives: Grants of about $218 million are expected for advanced chips and energy storage, reinforcing India’s tech and energy transition goals.

Easing business friction: Expect measures to cut red tape, speed up approvals, and better align tariffs to support domestic manufacturing.

Jobs via infrastructure: Focused spending on long-term infrastructure projects is expected to anchor job creation.

Targeted industry support: Financial assistance to industries is likely to be decided case by case.

ClickPost argues that Budget 2026 must move beyond building infrastructure and focus on making commerce economically sustainable. Key priorities include digitising reverse logistics, standardising delivery verification, and designing labour reforms that reflect very different risk profiles across sectors.

“Budget 2026 must answer a more complex question: Can India make serving Bharat economically sustainable across both B2C and B2B commerce?” says the report.  

A new ClickPost report analysing over 8.3 lakh electronics shipments suggests GST 2.0 has triggered a major behavioural shift in Indian consumption, rather than just a tax adjustment. The study compares data from July to December 2024 and July to December 2025 to track changes in household spending.

₹10 lakh crore capex delivers, infrastructure no longer the bottleneck

The report notes that sustained public capex of over ₹10 lakh crore annually and PM Gati Shakti have transformed India’s logistics backbone. Tier-3 cities saw a nearly 8% surge in peak-season volumes with only a marginal rise in delivery time, while metros and Tier-1 cities became faster despite higher loads.

• 8:30 AM: Finance Minister Nirmala Sitharaman will leave her residence for the Ministry of Finance.
• 8:45 AM: The Finance Minister will arrive at Kartavya Bhavan-1 (Man Singh Road).
• 9:00 AM: A traditional photo session of the Finance Minister and her budget team will take place outside the Ministry of Finance.
• 9:30 AM: The Finance Minister will meet President Droupadi Murmu at Rashtrapati Bhavan to present the budget documents.
• 9:50 AM: The Finance Minister will arrive at Parliament House. 
• 10:15 AM: A meeting of the Union Cabinet, chaired by the Prime Minister, will be held to formally approve the budget.
• 11:00 AM: The Lok Sabha proceedings will begin. Following this, the Finance Minister will present the budget speech. The initial part of the speech will highlight the government's achievements and key figures.
• Between 1:00 PM and 2:00 PM: The Finance Minister will hold a press conference to brief the media on the key budget announcements.

The Economic Survey released last week came across as a cautious note on 'global risks inside a package of good news'. The message was clear. India’s growth story is now more structural than cyclical.

Let's have a recap of the key highlights of the Economic Survey 2025-26

- The Survey described this phase as a growth powerhouse moment, while flagging continued risks from volatile global capital flows and geopolitical uncertainty.

- It underlined that the government's focus will remain on keeping public finances in check, even as it pushes for higher growth.

- One of the key takeaways is that the Budget is expected to set the tone for India’s long-term ambition of becoming a $5 trillion economy.

- The Survey upgraded India’s potential GDP growth to above 7 per cent, well ahead of the global average of around 3 per cent. Developed economies are projected to grow at roughly 2 per cent, while emerging markets are expected to expand by about 4 per cent.

- Sector-wise, services continue to lead with growth close to 9 per cent, reinforcing India’s position as the world’s digital back office.

- Manufacturing activity is also picking up pace, running above long-term averages.

- The Survey noted that investment momentum remains strong and domestic demand continues to show resilience, even as global headwinds persist.

Given India’s household gold holdings of around 24,000 tonnes, Suvankar Sen, Managing Director and CEO of Senco Gold Ltd, said “continued policy focus on innovative mechanisms to mobilise physical gold can help unlock significant long-term value for the economy.”

Sen added that measures such as a review of the 6% import duty, skill development for karigars, wider use of technology, and more flexibility for SEZ units to serve domestic demand would "further reinforce the organised jewellery sector’s contribution to employment, consumption and exports.”

Suvankar Sen, MD & CEO, Senco Gold Ltd, while outlining key expectations from the upcoming Union Budget for the organised jewellery sector, noted that “Despite volatility in gold and silver prices, consumer demand in India has remained resilient, though more carefully budgeted, reaffirming gold jewellery’s enduring significance as a symbol of heritage and long-term wealth creation."

“With gold prices expected to remain elevated, the industry looks forward to policy measures that further enhance affordability and support demand stability,” he said.

“In this context, initiatives such as regulated small-ticket EMI options for gold jewellery and a review of the current 3% GST structure could meaningfully ease consumer burden and encourage higher participation in the formal market.”

He also pointed to the growing popularity of old gold exchange, which, he said, now makes up “nearly 45% of transactions”. 

Housewives across Andhra Pradesh are looking to the upcoming Union Budget for relief from rising household expenses and price pressures. Sushma Kesavarapu, from the Kothapeta constituency, said "women managing household finances are expecting a people-friendly budget that eases daily economic burdens."

Speaking to ANI here, she said, "The budget should prioritise reducing household expenses, strengthening family savings, and improving access to healthcare and education to ensure long-term financial security. Any reduction in GST on essential household goods would provide immediate relief to housewives."
Kesavarapu also highlighted the need for tax relief for middle-class families, noting that increased disposable income would help households better manage education costs, healthcare expenses, and day-to-day needs. According to her, measures aimed at easing the tax burden would directly benefit families struggling with inflation.

Former Power Secretary Alok Kumar says that “There is a big requirement for building the capacity of state-owned discoms.”

“It is necessary to leverage new technologies by providing the proper training and tools, for which funds are currently insufficient. In order to improve on areas such as data management, capacity to handle data, future planning, and leverage new technology and models, it is the need of the hour to invest and fill this gap on a large scale.”

If done so, “the gains will be tremendous,” he predicts.

Small business owners in Hyderabad have voiced their expectations for the upcoming Union Budget, pointing to growing pressure from higher taxes and rising procurement costs. Several seasonal vendors and small shop operators said that heavy GST and other indirect levies on everyday goods are making it harder to sustain their businesses while keeping prices reasonable for customers.

Traders noted that repeated price hikes in essential commodities have pushed up stocking costs, squeezed profit margins, and slowed daily sales. Many have called on the Centre to consider cutting or waiving GST on basic food and dairy items such as milk and sugar, arguing that tax relief would ease the burden on both small retailers and consumers.

No,  Nirmala Sitharaman will be the second Finance Minister to present a Union Budget on a Sunday. Before Sitharaman, Yashwant Sinha presented the financial document on February 28, 1999, which was a Sunday. 

By presenting the Union Budget 2026 on February 1, Finance Minister Nirmala Sitharaman would become the country’s first finance minister to present nine Union Budgets consecutively.

India’s stock markets will remain open for trading on Sunday (Feb 1). The special weekend session will let investors respond to policy announcements in real time during market hours.

The Union Budget 2026 will be presented in Parliament’s Central Hall, with the live telecast of the Budget speech beginning sharply at 11 am. The proceedings will air live on Sansad TV and Doordarshan’s DD National channel. WION will also broadcast the speech live.

The Economic Survey 2025–26 highlights a historic milestone for India’s economy: the country recorded an average retail inflation of 1.7 per cent between April and December 2025, marking the lowest rate since the Consumer Price Index (CPI) series began. This unprecedented moderation in prices has been achieved amidst a complex global economic environment and reflects the effectiveness of India’s macroeconomic management.

Click here to read

The Economic Survey 2025–26 has flagged a sharp increase in digital addiction and screen-related mental health challenges among children and adolescents in India. Terming the rise as alarming, it warns that excessive engagement with smartphones, social media, gaming, and online platforms is starting to take a toll on well-being, learning outcomes, and long-term economic productivity. The survey defines digital addiction as a persistent, excessive, or compulsive use of digital devices that leads to psychological distress and functional impairment.

Click here to read

Chief Economic Advisor V Anantha Nageswaran has pointed out that the Foreign Direct Investment have been on the weaker side, “below their potential” for the fiscal year 2025-26. This is particularly due to the structural and cyclical factor that influences the capital inflows. The low FDI was attributed to the profit-taking by investors who had invested in infrastructure projects in the previous decades. The other structural problem is the compulsion of Indian businesses to invest overseas.

Click here to read

As a trade deal between India and the United States stays elusive, with the threat of US President Donald Trump's tariffs hanging over New Delhi, how exposed is the Indian rupee to global political shocks? The Economic Survey 2025–26 offers a cautious answer.

Here's what it says

This year's "report card" of the Indian economy has laid out an ambitious but cautious roadmap for India's medium-term growth, arguing that "deregulation" and greater economic freedom will be central to sustaining high growth in a fragmenting global economy.

According to the Economic Survey, to realise its economic aspirations of becoming "Viksit Bharat" by 2047, India needs to achieve a growth rate of around eight per cent (8%) "at constant prices, on average" for at least 10 to 20 years.

Read more here