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Several high-altitude regions of Uttarakhand experienced light to moderate rainfall and snowfall over the past 24 hours, prompting the Meteorological Centre in Dehradun to issue avalanche advisories for multiple hill districts amid unstable weather patterns. The weather department reported precipitation in areas situated above 2,800 metres across Uttarkashi, Chamoli, Rudraprayag, Bageshwar, and Pithoragarh districts until 8.30 am on Sunday (February 1). Officials noted that similar mixed weather conditions are expected to persist on Monday, particularly in elevated regions of these districts.&nbsp;Isolated spells of very light rain or snowfall may also occur in the higher reaches of Dehradun and Nainital districts, while most other parts of the state are likely to remain dry. The IMD Dehradun centre has issued a yellow alert for Tuesday (Feb 3), warning of thunderstorms accompanied by lightning in Uttarkashi, Chamoli, Rudraprayag, Bageshwar, and Pithoragarh. Gusty winds reaching speeds of 30–40 kmph, along with thunderstorms, are also expected at isolated locations in Dehradun, Pauri, Haridwar, Nainital, and Udham Singh Nagar districts.&nbsp;Also Read: <a href="https://www.wionews.com/world/air-india-resumes-direct-delhi-shanghai-flights-after-nearly-six-years-1769951393018">Air India resumes direct Delhi-Shanghai flights after nearly six years</a>&nbsp;The State Emergency Control Centre has cautioned residents and visitors in high-altitude zones about heightened risks due to both avalanches and volatile weather conditions. According to the Defence Geoinformatics Research Establishment (DGRE), Chamoli district has been placed under Danger Level 2 (Yellow Alert) for avalanche risk for 24 hours starting Sunday evening. Rudraprayag and Pithoragarh districts have been issued a Level 1 (Green Alert), signalling the need for caution in snow-covered areas. Authorities have urged people to avoid steep slopes and avalanche-sensitive zones, remove snow buildup from rooftops, and stay alert while travelling in snowbound terrain. Travellers have also been advised not to halt in vulnerable locations and to watch out for trees or rocks that could obstruct snow movement.&nbsp;IMD Dehradun Centre Director CS Tomar said that the current western disturbance is expected to linger overnight, while another weak system is forming but is unlikely to significantly impact weather conditions. He added that clearer weather is anticipated from February 4 onward. In the Uttarkashi district, light snowfall was recorded in Yamunotri Dham, Kharsali, and upper regions near Gangotri. As a precaution, authorities temporarily suspended the movement of pilgrims and travellers in these areas.&nbsp;<a href="https://www.wionews.com/videos/india-budget-2026-did-budget-2026-deliver-for-poll-bound-tamil-nadu-1769952949214/embed">https://www.wionews.com/videos/india-budget-2026-did-budget-2026-deliver-for-poll-bound-tamil-nadu-1769952949214/embed</a>&nbsp;Rainfall data showed Kashipur receiving the highest precipitation at 10 mm, followed by Jaspur with 5 mm and the Uttarakhand Technical University area with 4 mm. Light rainfall was also noted in Chakrata, Kotdwar, and Roorkee. Strong winds swept through parts of the state, with Jeolikote in Nainital registering the highest surface wind speed at 50 kmph. Champawat, Maldevta, and Kashipur also recorded notable wind activity.&nbsp;While Dehradun saw thunderstorms and recorded the state’s highest maximum temperature at 25.1°C, cold day conditions prevailed in Roorkee and Pantnagar. Mukteshwar remained the coldest location, with temperatures dropping to 3.8°C. Despite the weather-related challenges, farmers across hill districts welcomed the precipitation, saying it has provided much-needed relief to crops stressed by extended dry spells late last year. Local farmers believe continued rainfall and snowfall could significantly benefit wheat, lentil, and apple cultivation.

Rain, snow and strong winds lash Uttarakhand, IMD issues avalanche and thunderstorm warnings

Several high-altitude regions of Uttarakhand experienced light to moderate rainfall and snowfall over the past 24 hours, prompting the Meteorological Centre in Dehradun to issue avalanche advisories for multiple hill districts amid unstable weather patterns. The weather department reported precipitation in areas situated above 2,800 metres across Uttarkashi, Chamoli, Rudraprayag, Bageshwar, and Pithoragarh districts until 8.30 am on Sunday (February 1). Officials noted that similar mixed weather conditions are expected to persist on Monday, particularly in elevated regions of these districts. Isolated spells of very light rain or snowfall may also occur in the higher reaches of Dehradun and Nainital districts, while most other parts of the state are likely to remain dry. The IMD Dehradun centre has issued a yellow alert for Tuesday (Feb 3), warning of thunderstorms accompanied by lightning in Uttarkashi, Chamoli, Rudraprayag, Bageshwar, and Pithoragarh. Gusty winds reaching speeds of 30–40 kmph, along with thunderstorms, are also expected at isolated locations in Dehradun, Pauri, Haridwar, Nainital, and Udham Singh Nagar districts. Also Read: Air India resumes direct Delhi-Shanghai flights after nearly six years The State Emergency Control Centre has cautioned residents and visitors in high-altitude zones about heightened risks due to both avalanches and volatile weather conditions. According to the Defence Geoinformatics Research Establishment (DGRE), Chamoli district has been placed under Danger Level 2 (Yellow Alert) for avalanche risk for 24 hours starting Sunday evening. Rudraprayag and Pithoragarh districts have been issued a Level 1 (Green Alert), signalling the need for caution in snow-covered areas. Authorities have urged people to avoid steep slopes and avalanche-sensitive zones, remove snow buildup from rooftops, and stay alert while travelling in snowbound terrain. Travellers have also been advised not to halt in vulnerable locations and to watch out for trees or rocks that could obstruct snow movement. IMD Dehradun Centre Director CS Tomar said that the current western disturbance is expected to linger overnight, while another weak system is forming but is unlikely to significantly impact weather conditions. He added that clearer weather is anticipated from February 4 onward. In the Uttarkashi district, light snowfall was recorded in Yamunotri Dham, Kharsali, and upper regions near Gangotri. As a precaution, authorities temporarily suspended the movement of pilgrims and travellers in these areas. https://www.wionews.com/videos/india-budget-2026-did-budget-2026-deliver-for-poll-bound-tamil-nadu-1769952949214/embed Rainfall data showed Kashipur receiving the highest precipitation at 10 mm, followed by Jaspur with 5 mm and the Uttarakhand Technical University area with 4 mm. Light rainfall was also noted in Chakrata, Kotdwar, and Roorkee. Strong winds swept through parts of the state, with Jeolikote in Nainital registering the highest surface wind speed at 50 kmph. Champawat, Maldevta, and Kashipur also recorded notable wind activity. While Dehradun saw thunderstorms and recorded the state’s highest maximum temperature at 25.1°C, cold day conditions prevailed in Roorkee and Pantnagar. Mukteshwar remained the coldest location, with temperatures dropping to 3.8°C. Despite the weather-related challenges, farmers across hill districts welcomed the precipitation, saying it has provided much-needed relief to crops stressed by extended dry spells late last year. Local farmers believe continued rainfall and snowfall could significantly benefit wheat, lentil, and apple cultivation.

Rain and snowfall in Uttarakhand’s high-altitude districts trigger avalanche alerts, thunderstorm warnings, and safety advisories as unstable weather continues

Finance Minister Nirmala Sitharaman relieved taxpayers on Sunday after announcing in the Budget that foreign travel and remitting money for education abroad would be made cheaper. However, she increased the tax amount on futures and option trading in order to provide a reasonable course correction.&nbsp;Meanwhile, the Finance Minister left the income tax slabs untouched, with no extra tax to be charged. It will follow the announced 2025 tax slab. Likewise, the Budget did not announce any changes to long-term capital gains (LTCG) tax or the standard deduction under the new tax regime, despite expectations from several quarters ahead of the presentation.&nbsp;LTCG refers to gains earned from the sale of a capital asset held over a long period, including immovable property such as land and buildings, as well as financial instruments like equity shares and equity mutual funds.<h3>Foreign travel is getting cheaper</h3>Finance Minister Nirmala Sitharaman lowered the Tax Collected at Source (TCS) on overseas tour packages to 2 per cent, removing earlier thresholds. At present, a 5 per cent TCS applies to spending up to Rs 10 lakh in a financial year, while amounts exceeding Rs 10 lakh attract a 20 per cent levy.&nbsp;&nbsp;She also revised TCS rates on education and medical remittances under the Liberalised Remittance Scheme (LRS), cutting them from 5 per cent to 2 per cent. This move is expected to benefit families, including parents transferring funds for children studying overseas.<h3>F&amp;O trading is now expensive</h3>Meanwhile, Sitharaman emphasised the need for a reasonable course correction while announcing a hike in the Securities Transaction Tax (STT) on futures and options trading. She said that the STT on Futures would be increased to 0.05 per cent from the existing 0.02 per cent to provide reasonable course correction in the F&amp;O segment in the capital market and generate extra revenues for the government.&nbsp;At the same time, STT on options has been revised, with the levy on premium and exercise of options, which is proposed to be raised to 0.15 per cent from the present rate of 0.1 per cent and 0.125 per cent, respectively.&nbsp;The government has also proposed a one-time six-month scheme allowing small taxpayers to voluntarily disclose foreign assets. Under the proposal, small taxpayers—defined as students, young professionals and NRIs- will be able to declare overseas assets below specified limits of Rs 1 crore or Rs 5 crore and receive immunity from prosecution. &nbsp;

Finance Minister Nirmala Sitharaman lowered the TCS on overseas tour packages to 2 per cent, removing earlier thresholds. At present, a 5 per cent TCS applies to spending up to Rs 10 lakh in a financial year, while amounts exceeding Rs 10 lakh attract a 20 per cent levy. 

Finance Minister Nirmala Sitharaman relieved taxpayers on Sunday after announcing in the Budget that foreign travel and remitting money for education abroad would be made cheaper. However, she increased the tax amount on futures and option trading in order to provide a reasonable course correction. Meanwhile, the Finance Minister left the income tax slabs untouched, with no extra tax to be charged. It will follow the announced 2025 tax slab. Likewise, the Budget did not announce any changes to long-term capital gains (LTCG) tax or the standard deduction under the new tax regime, despite expectations from several quarters ahead of the presentation. LTCG refers to gains earned from the sale of a capital asset held over a long period, including immovable property such as land and buildings, as well as financial instruments like equity shares and equity mutual funds. Foreign travel is getting cheaper Finance Minister Nirmala Sitharaman lowered the Tax Collected at Source (TCS) on overseas tour packages to 2 per cent, removing earlier thresholds. At present, a 5 per cent TCS applies to spending up to Rs 10 lakh in a financial year, while amounts exceeding Rs 10 lakh attract a 20 per cent levy. She also revised TCS rates on education and medical remittances under the Liberalised Remittance Scheme (LRS), cutting them from 5 per cent to 2 per cent. This move is expected to benefit families, including parents transferring funds for children studying overseas. F&O trading is now expensive Meanwhile, Sitharaman emphasised the need for a reasonable course correction while announcing a hike in the Securities Transaction Tax (STT) on futures and options trading. She said that the STT on Futures would be increased to 0.05 per cent from the existing 0.02 per cent to provide reasonable course correction in the F&O segment in the capital market and generate extra revenues for the government. At the same time, STT on options has been revised, with the levy on premium and exercise of options, which is proposed to be raised to 0.15 per cent from the present rate of 0.1 per cent and 0.125 per cent, respectively. The government has also proposed a one-time six-month scheme allowing small taxpayers to voluntarily disclose foreign assets. Under the proposal, small taxpayers—defined as students, young professionals and NRIs- will be able to declare overseas assets below specified limits of Rs 1 crore or Rs 5 crore and receive immunity from prosecution.

Finance Minister Nirmala Sitharaman lowered the TCS on overseas tour packages to 2 per cent, removing earlier thresholds. At present, a 5 per cent TCS applies to spending up to Rs 10 lakh in a financial year, while amounts exceeding Rs 10 lakh attract a 20 per cent levy.&nbsp;

From foreign travel to F&O trades: Union Budget brings BIG changes for taxpayers—Check details inside

Air India has relaunched direct non-stop flights between New Delhi and Shanghai, restoring a key aviation link between India and China after a suspension of nearly six years. The inaugural flight from Shanghai Pudong International Airport to New Delhi departed earlier today, carrying more than 230 passengers on a Boeing 787 aircraft.&nbsp;The service, which had been halted since early 2020, marks a significant step in rebuilding bilateral connectivity amid improving relations between the two Asian giants. From the Indian side, Air India flight AI352 took off from Indira Gandhi International Airport in Delhi at 1207 hrs IST, reconnecting the capital with one of Asia's leading business and cultural centres.&nbsp;The airline will operate the route four times a week using its Boeing 787-8 Dreamliner, equipped with modernised cabins and enhanced onboard services. The relaunch reflects rising demand for travel between the two countries, driven by business, tourism, education, and family visits.&nbsp;Consul General Pratik Mathur of the Indian Consulate in Shanghai welcomed the development. “The resumption of direct flights between Shanghai and New Delhi is a tangible expression of the renewed momentum in India–China engagement," he said. "Enhanced air connectivity is essential for facilitating trade, tourism, academic exchanges and people-to-people contacts, particularly between India and East China. We are pleased to see Air India restoring this important link.”&nbsp;The route is expected to bolster ties with the economically vibrant Yangtze River Delta region, supporting commercial, educational, and cultural exchanges. In a statement, Air India highlighted the service's role in meeting growing passenger needs. "This 4x weekly service, operated with a Boeing 787-8 aircraft, restores Air India's direct access to mainland China and supports growing demand from business travellers, families, and tourists," the airline said.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/budget-2026-railways-receive-highest-ever-allocation-7-high-speed-corridors-announced-check-full-details-1769950079176">Budget 2026: Railways receive highest-ever allocation, 7 high-speed corridors announced – check full details</a>&nbsp;Plans for additional services, including potential Mumbai-Shanghai flights later in 2026, subject to approvals, have also been indicated. The move follows other recent developments in India-China aviation, including IndiGo's restart of Kolkata-Guangzhou flights.&nbsp;The relaunch is viewed as a positive signal for cross-border mobility and economic ties, coming at a time when both nations seek to normalise people-to-people and institutional exchanges after years of strained relations and pandemic-related disruptions.

The airline will operate the route four times a week using its Boeing 787-8 Dreamliner, equipped with modernised cabins and enhanced onboard services.

Air India has relaunched direct non-stop flights between New Delhi and Shanghai, restoring a key aviation link between India and China after a suspension of nearly six years. The inaugural flight from Shanghai Pudong International Airport to New Delhi departed earlier today, carrying more than 230 passengers on a Boeing 787 aircraft. The service, which had been halted since early 2020, marks a significant step in rebuilding bilateral connectivity amid improving relations between the two Asian giants. From the Indian side, Air India flight AI352 took off from Indira Gandhi International Airport in Delhi at 1207 hrs IST, reconnecting the capital with one of Asia's leading business and cultural centres. The airline will operate the route four times a week using its Boeing 787-8 Dreamliner, equipped with modernised cabins and enhanced onboard services. The relaunch reflects rising demand for travel between the two countries, driven by business, tourism, education, and family visits. Consul General Pratik Mathur of the Indian Consulate in Shanghai welcomed the development. “The resumption of direct flights between Shanghai and New Delhi is a tangible expression of the renewed momentum in India–China engagement," he said. "Enhanced air connectivity is essential for facilitating trade, tourism, academic exchanges and people-to-people contacts, particularly between India and East China. We are pleased to see Air India restoring this important link.” The route is expected to bolster ties with the economically vibrant Yangtze River Delta region, supporting commercial, educational, and cultural exchanges. In a statement, Air India highlighted the service's role in meeting growing passenger needs. "This 4x weekly service, operated with a Boeing 787-8 aircraft, restores Air India's direct access to mainland China and supports growing demand from business travellers, families, and tourists," the airline said. Also Read: Budget 2026: Railways receive highest-ever allocation, 7 high-speed corridors announced – check full details Plans for additional services, including potential Mumbai-Shanghai flights later in 2026, subject to approvals, have also been indicated. The move follows other recent developments in India-China aviation, including IndiGo's restart of Kolkata-Guangzhou flights. The relaunch is viewed as a positive signal for cross-border mobility and economic ties, coming at a time when both nations seek to normalise people-to-people and institutional exchanges after years of strained relations and pandemic-related disruptions.

The airline will operate the route four times a week using its Boeing 787-8 Dreamliner, equipped with modernised cabins and enhanced onboard services.

Air India resumes direct Delhi-Shanghai flights after nearly six years

The education ministry has been allocated Rs 1.39 lakh crore in the Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on Sunday (February 1). The move marked an 8.27 per cent increase over the previous financial year, showing education and skilling at the core of India's long-term growth strategy. The allocated amount accounts for nearly 2.6 per cent of the total estimated expenditure of Rs 53.5 lakh crore for 2026-27.&nbsp;Presenting the Budget in Parliament, Union Finance Minister announced a series of initiatives for the education and skilling sector. These include plans to develop five University Townships, set up veterinary and para-veterinary colleges, establish Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs, and create a National Institute of Hospitality.&nbsp;Of the total outlay, Rs 83,562.26 crore has been allocated for school education, while Rs 55,727 crore has been earmarked for higher education. The allocations for school and higher education have increased by 6.35 per cent and 11.28 per cent, respectively. The Ministry of Education received a total allocation of Rs 1.28 lakh crore in FY 2025–26.&nbsp;WATCH: https://www.wionews.com/videos/budget-2026-pm-modi-budget-2026-fuels-viksit-bharat-2047-vision-1769939464377/embedd<h3>Dharmendra Pradhan lauds Union Budget 2026-27</h3>Welcoming the increased funding, Union Education Minister Dharmendra Pradhan said the Budget reflects the vision of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to realise the goal of a developed India.&nbsp;"To achieve the goal of a developed India, the budget this time is reflected in the excellent arrangements of the Prime Minister's vision and the Minister of Finance, Nirmala Sitharaman. I would like to congratulate them on some points from the Education Department. The budget this time is bigger than the budget last time," he said.&nbsp;"Last year's budget allocation was Rs 1 lakh 28 thousand 650 crore, which has now been increased to Rs 1 lakh 39 thousand 299 crore, 8.27% rise compared to the last budget... Women have contributed significantly to the field of science and technology, more so than in many other nations. To further promote this growth, we plan to establish girls' hostels in every state in collaboration with the respective state governments... We also plan to develop a university council for the overall advancement of educational infrastructure and to create a knowledge-based economy," he added.&nbsp;Also read: <a href="https://www.wionews.com/world/big-firepower-for-forces-in-budget-2026-capital-outlay-for-defence-surges-22-as-india-prepares-for-dual-front-challenges-1769943755460">Big firepower for forces in Budget 2026: Capital outlay for defence surges 22% as India prepares for dual-front challenges</a>

Union Finance Minister announced a series of initiatives for the education and skilling sector, including University Townships, setting up veterinary and para-veterinary colleges, establishing Animation, Visual Effects, Content Creator Labs, and a National Institute of Hospitality.

The education ministry has been allocated Rs 1.39 lakh crore in the Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on Sunday (February 1). The move marked an 8.27 per cent increase over the previous financial year, showing education and skilling at the core of India's long-term growth strategy. The allocated amount accounts for nearly 2.6 per cent of the total estimated expenditure of Rs 53.5 lakh crore for 2026-27. Presenting the Budget in Parliament, Union Finance Minister announced a series of initiatives for the education and skilling sector. These include plans to develop five University Townships, set up veterinary and para-veterinary colleges, establish Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs, and create a National Institute of Hospitality. Of the total outlay, Rs 83,562.26 crore has been allocated for school education, while Rs 55,727 crore has been earmarked for higher education. The allocations for school and higher education have increased by 6.35 per cent and 11.28 per cent, respectively. The Ministry of Education received a total allocation of Rs 1.28 lakh crore in FY 2025–26. WATCH: https://www.wionews.com/videos/budget-2026-pm-modi-budget-2026-fuels-viksit-bharat-2047-vision-1769939464377/embedd Dharmendra Pradhan lauds Union Budget 2026-27 Welcoming the increased funding, Union Education Minister Dharmendra Pradhan said the Budget reflects the vision of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to realise the goal of a developed India. "To achieve the goal of a developed India, the budget this time is reflected in the excellent arrangements of the Prime Minister's vision and the Minister of Finance, Nirmala Sitharaman. I would like to congratulate them on some points from the Education Department. The budget this time is bigger than the budget last time," he said. "Last year's budget allocation was Rs 1 lakh 28 thousand 650 crore, which has now been increased to Rs 1 lakh 39 thousand 299 crore, 8.27% rise compared to the last budget... Women have contributed significantly to the field of science and technology, more so than in many other nations. To further promote this growth, we plan to establish girls' hostels in every state in collaboration with the respective state governments... We also plan to develop a university council for the overall advancement of educational infrastructure and to create a knowledge-based economy," he added. Also read: Big firepower for forces in Budget 2026: Capital outlay for defence surges 22% as India prepares for dual-front challenges

Union Finance Minister announced a series of initiatives for the education and skilling sector, including University Townships, setting up veterinary and para-veterinary colleges, establishing Animation, Visual Effects, Content Creator Labs, and a National Institute of Hospitality.

Union Budget 2026–27 allocates Rs 1.39 lakh crore to education ministry, increases by 8.27%

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. &nbsp;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. "To promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth collectors," she said.&nbsp;The proposed routes under the high-speed network are:&nbsp;1. Mumbai-Pune2. Pune-Hyderabad3 . Hyderabad-Bengaluru4. Hyderabad-Chennai5 . Chennai-Bengaluru6. Bengaluru-Varanasi7. Varanasi-Siliguri&nbsp;Along with the enhanced and faster connectivity between major financial centres in India, Sitharaman said to promote environmentally-sustainable movement of cargo, she proposed to establish a new dedicated freight corridor connecting Dankuni in the east to Surat in the west. The Budget also announced the expansion of Vande Bharat Sleeper trains to replace existing premium long-distance trains such as the Rajdhani Express.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/union-budget-2026-pm-narendra-modi-reaction-on-budget-2026-hails-fm-nirmala-sitharaman-s-futuristic-udget-new-schemes-trade-deals-1769935857430">Union Budget 2026 | 'Ambitious and aspirational': PM Modi hails FM Sitharaman's 'futuristic' budget</a>&nbsp;One of the main focus areas for this year has been the safety of passengers as the government proposed to install the indigenious buit anti-collision system Kavach 4.0 across 18,000 km of high-traffic tracks in the country. To facilitate the rail travel for common passenger the government committed to manufacturing 17,500 new general and sleeper coaches to reduce overcrowding and ensure comfortable travel.<h2>Railway Budget breakup</h2>The budget breakup includes Rs 65,496 crore for rolling stock to support the mass production of Vande Bharat sleeper and Amrit Bharat trains. Another Rs 74,471 crore has been allocated for new railway lines and track doubling.&nbsp;&nbsp;Safety remains a key focus, with Rs 7,500 crore set aside for the accelerated deployment of the Kavach 4.0 anti-collision system across 18,000 km of track. In addition, Rs 11,971 crore has been earmarked for station redevelopment under the Amrit Bharat scheme.&nbsp;

One of the main focus areas for this year has been the safety of passengers as the government proposed to install the indigenious buit anti-collision system Kavach 4.0 across 18,000 km of high-traffic tracks in the country.

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. "To promote environmentally sustainable passenger systems, we will develop seven high-speed rail corridors between cities as growth collectors," she said. The proposed routes under the high-speed network are: 1. Mumbai-Pune 2. Pune-Hyderabad 3 . Hyderabad-Bengaluru 4. Hyderabad-Chennai 5 . Chennai-Bengaluru 6. Bengaluru-Varanasi 7. Varanasi-Siliguri Along with the enhanced and faster connectivity between major financial centres in India, Sitharaman said to promote environmentally-sustainable movement of cargo, she proposed to establish a new dedicated freight corridor connecting Dankuni in the east to Surat in the west. The Budget also announced the expansion of Vande Bharat Sleeper trains to replace existing premium long-distance trains such as the Rajdhani Express. Also Read: Union Budget 2026 | 'Ambitious and aspirational': PM Modi hails FM Sitharaman's 'futuristic' budget One of the main focus areas for this year has been the safety of passengers as the government proposed to install the indigenious buit anti-collision system Kavach 4.0 across 18,000 km of high-traffic tracks in the country. To facilitate the rail travel for common passenger the government committed to manufacturing 17,500 new general and sleeper coaches to reduce overcrowding and ensure comfortable travel. Railway Budget breakup The budget breakup includes Rs 65,496 crore for rolling stock to support the mass production of Vande Bharat sleeper and Amrit Bharat trains. Another Rs 74,471 crore has been allocated for new railway lines and track doubling. Safety remains a key focus, with Rs 7,500 crore set aside for the accelerated deployment of the Kavach 4.0 anti-collision system across 18,000 km of track. In addition, Rs 11,971 crore has been earmarked for station redevelopment under the Amrit Bharat scheme.

One of the main focus areas for this year has been the safety of passengers as the government proposed to install the indigenious buit anti-collision system Kavach 4.0 across 18,000 km of high-traffic tracks in the country.

Budget 2026: Railways receive highest-ever allocation, 7 high-speed corridors announced – check full details

The Union Budget 2026–27 presented by Union Finance Minister Nirmala Sitharaman on Sunday earmarked Rs 95,692 crore for the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission Gramin (VB-G RAM G) scheme, and also allocated Rs 30,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), which surprised some people. In the 2025-26 budget, the government had allocated Rs 86,000 crore for MGNREGA alone.&nbsp;The Union government has allocated a combined ₹1,25,692 crore in the Budget for the new and existing rural jobs guarantee schemes.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/us-federal-judge-refuses-to-halt-trump-s-ice-surge-in-minnesota-1769884014449">US federal judge refuses to halt Trump’s ICE surge in Minnesota</a><h2>Dual allocations made with focus on transition</h2>&nbsp;As the VB-G RAM G scheme is set to be rolled out, the MGNREGA scheme will continue. Besides, the pending works are also to be completed, and hence dual allocations have been made for the two schemes during the transition year.&nbsp;The VB-G RAM G scheme, to be notified by the Centre, will give states six months to transition from the two-decade-old MGNREGA. Till then, both schemes will continue to operate as usual, necessitating separate budgetary allocations.&nbsp;Also Read: <a href="https://www.wionews.com/world/two-explosions-rock-southern-iran-tehran-denies-irgc-navy-commander-assassination-reports-1769871133660">Two explosions rock southern Iran; Tehran denies IRGC navy commander assassination reports</a><h2>New scheme VB-G RAM G has different funding pattern</h2>&nbsp;Under MGNREGA, the Union government bears 100% of the wage costs, which constitute the bulk of the expenditure, while states contribute 25% of the material costs. In contrast, under the VB-G Ram G scheme, the Centre will fund only 60% of the total cost in most states and 90% in northeastern and Himalayan states, with the state governments funding the balance.&nbsp;Since the new scheme has a different funding pattern from MGNREGA, distinct allocations had to be made to ensure uninterrupted wage payments and smooth execution of ongoing works, besides giving time to states for making necessary administrative and financial changes for the transition.&nbsp;A higher allocation for VB-G RAM G signals a strategic shift in rural employment policy from wage support to development and asset creation in consonance with the Viksit Bharat 2047 vision.

A higher allocation for Viksit Bharat Guarantee for Rozgar and Ajeevika Mission Gramin (VB-G RAM G) scheme signals a strategic shift in rural employment policy from wage support to development and asset creation in consonance with the Viksit Bharat 2047 vision.

The Union Budget 2026–27 presented by Union Finance Minister Nirmala Sitharaman on Sunday earmarked Rs 95,692 crore for the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission Gramin (VB-G RAM G) scheme, and also allocated Rs 30,000 crore for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), which surprised some people. In the 2025-26 budget, the government had allocated Rs 86,000 crore for MGNREGA alone. The Union government has allocated a combined ₹1,25,692 crore in the Budget for the new and existing rural jobs guarantee schemes. Also Read: US federal judge refuses to halt Trump’s ICE surge in Minnesota Dual allocations made with focus on transition As the VB-G RAM G scheme is set to be rolled out, the MGNREGA scheme will continue. Besides, the pending works are also to be completed, and hence dual allocations have been made for the two schemes during the transition year. The VB-G RAM G scheme, to be notified by the Centre, will give states six months to transition from the two-decade-old MGNREGA. Till then, both schemes will continue to operate as usual, necessitating separate budgetary allocations. Also Read: Two explosions rock southern Iran; Tehran denies IRGC navy commander assassination reports New scheme VB-G RAM G has different funding pattern Under MGNREGA, the Union government bears 100% of the wage costs, which constitute the bulk of the expenditure, while states contribute 25% of the material costs. In contrast, under the VB-G Ram G scheme, the Centre will fund only 60% of the total cost in most states and 90% in northeastern and Himalayan states, with the state governments funding the balance. Since the new scheme has a different funding pattern from MGNREGA, distinct allocations had to be made to ensure uninterrupted wage payments and smooth execution of ongoing works, besides giving time to states for making necessary administrative and financial changes for the transition. A higher allocation for VB-G RAM G signals a strategic shift in rural employment policy from wage support to development and asset creation in consonance with the Viksit Bharat 2047 vision.

A higher allocation for Viksit Bharat Guarantee for Rozgar and Ajeevika Mission Gramin (VB-G RAM G) scheme signals a strategic shift in rural employment policy from wage support to development and asset creation in consonance with the Viksit Bharat 2047 vision.

Union Budget 2026 allocates funds for both MGNREGA and VB-G RAM G schemes. What does this mean?

Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on Sunday (February 1), and no sooner had her speech ended than social media was flooded with memes. Netizens responded with sharp wit and humour, using memes to capture everything from expectations of tax relief to the familiar anxieties of the middle class, turning the budget announcements into a viral talking point.<h2>Here are the best ones</h2>

<blockquote class="twitter-tweet" data-media-max-width="560">Nirmala Sitharaman to Stock traders and middle-class: 👇😜🔥<a href="https://twitter.com/hashtag/Budget?src=hash&amp;ref_src=twsrc%5Etfw">#Budget</a> <a href="https://twitter.com/hashtag/Budget2026?src=hash&amp;ref_src=twsrc%5Etfw">#Budget2026</a> <a href="https://twitter.com/hashtag/STT?src=hash&amp;ref_src=twsrc%5Etfw">#STT</a><a href="https://twitter.com/hashtag/NirmalaSitharaman?src=hash&amp;ref_src=twsrc%5Etfw">#NirmalaSitharaman</a> <a href="https://twitter.com/hashtag/Memes?src=hash&amp;ref_src=twsrc%5Etfw">#Memes</a> <a href="https://t.co/AprptuPUfH">pic.twitter.com/AprptuPUfH</a>&mdash; Duck 🪿 🇮🇳 (@DuckKiBaat) <a href="https://twitter.com/DuckKiBaat/status/2017862232974225838?ref_src=twsrc%5Etfw">February 1, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Nirmala Sitharaman presents Budget 2026</h2>On the auspicious occasion of Magha Purnima and the birth anniversary of Guru Ravidas, the Finance Minister said that the first Union Budget prepared in Kartavya Bhawan is guided by three core kartavya (duties). The first kartavya focuses on accelerating and sustaining economic growth by improving productivity and competitiveness, while strengthening the economy’s resilience amid volatile global conditions. The second kartavya aims to fulfil the aspirations of the people by enhancing their capabilities and positioning them as active partners in India’s journey towards prosperity.&nbsp;Also Read: <a href="https://www.wionews.com/world/big-firepower-for-forces-in-budget-2026-capital-outlay-for-defence-surges-22-as-india-prepares-for-dual-front-challenges-1769943755460">Big firepower for forces in Budget 2026: Capital outlay for defence surges 22% as India prepares for dual-front challenges</a>&nbsp;The third kartavya, aligned with the vision of Sabka Saath, Sabka Vikas, seeks to ensure that every family, community, region, and sector has equitable access to resources, infrastructure, and opportunities for meaningful participation. Presenting a Yuva Shakti–driven Budget, the Finance Minister emphasized the Government’s Sankalp to prioritize the poor, underprivileged, and disadvantaged. She reaffirmed that India will continue to move confidently towards Viksit Bharat, balancing ambitious growth with inclusive development. As a rapidly expanding economy with rising trade and capital requirements, India must remain closely integrated with global markets, increase exports, and attract stable long-term investments.&nbsp;<a href="https://www.wionews.com/videos/video-of-frozen-niagara-falls-go-viral-1769944891070/embed">https://www.wionews.com/videos/video-of-frozen-niagara-falls-go-viral-1769944891070/embed</a>

Netizens flood social media with savage memes

<blockquote class="twitter-tweet">Budget Memes - A thread 🧵 Nirmala Sitharaman to Middle Class people <a href="https://t.co/XOl1QDWCOO">pic.twitter.com/XOl1QDWCOO</a>&mdash; Phunsuk Wangdu (@Phunsukwangduji) <a href="https://twitter.com/Phunsukwangduji/status/1885580602969383256?ref_src=twsrc%5Etfw">February 1, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

She also highlighted the challenging external environment, marked by threats to global trade and multilateralism, disruptions in supply chains, and constrained access to critical resources. At the same time, emerging technologies are reshaping production systems while significantly increasing demands for water, energy, and critical minerals.&nbsp;The Finance Minister noted that following the Prime Minister’s announcement on Independence Day in 2025, more than 350 reforms have been implemented. These include simplification of GST, notification of Labour Codes, and rationalisation of mandatory Quality Control Orders. High-Level Committees have been constituted, and alongside this, the Central Government is working closely with State Governments to advance deregulation and reduce compliance burdens.

Union Budget 2026: No tax relief, only meme relief — Netizens flood social media with savage memes

Finance Minister Nirmala Sitharaman presented the Union Budget 2026 on Sunday (February 1), and no sooner had her speech ended than social media was flooded with memes. Netizens responded with sharp wit and humour, using memes to capture everything from expectations of tax relief to the familiar anxieties of the middle class, turning the budget announcements into a viral talking point. Here are the best ones

After the Union Budget 2026 speech ended, social media erupted with memes as netizens used humour to voice tax hopes, middle-class angst and budget blues

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. This hints at the centre's renewed focus on military readiness and modernisations amid a volatile geopolitical scenario and heightened threats on both eastern and western borders with China and Pakistan, respectively.&nbsp;As per official data, the defence outlay for 2026-27 is pegged at Rs 7,84,678 crores, compared to Rs 6,81,210 crores in the previous fiscal. The most significant part of the increase was the steep increase in defence capital expenditure, which was increased by 28 per cent to Rs 2.31 lakh crore vis-a-vis Rs 1.80 lakh crore last year. &nbsp;Of this, Rs 63,733 crore is allocated for aircraft and aero engines, and Rs 25,023 crores for the naval fleet.&nbsp;However, the union government has been expanding the defence budget; it reached Rs 29 lakh crore in 2014-15 and has grown to Rs 7.85 lakh crore in 2026-27.&nbsp;The increased capital outlay is set to fund major acquisitions of advanced weapon systems, including the biggest-ever fighter aircraft deal worth Rs 3.25 crore, India inked with France to purchase 114 Rafale jets and domestic defence manufacturing.&nbsp;Finance Minister Nirmala Shitaraman also announced exemption of basic customs duty on raw material imported forthe manufacturing of parts used in the maintenance, rapair and overhaul of defence units.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/union-budget-2026-fm-sitharaman-proposes-7-high-speed-rail-corridors-across-india-check-routes-here-1769925871373">Union Budget 2026: FM Sitharaman proposes 7 high-speed rail corridors across India — CHECK routes here</a><h2>Breakup of the Defence budget</h2>The defence budget allocates Rs 3,65,479 crore for revenue expenditure to meet the armed forces’ day-to-day operational needs, including salaries, maintenance, and combat readiness. The government has earmarked a record Rs 2,19,306 crore for capital outlay, reflecting a 21.8 per cent increase aimed at modernisation and the acquisition of advanced military equipment.&nbsp;In addition, Rs 1,71,338 crore has been set aside to meet pension liabilities for more than 34 lakh retired defence personnel. The remaining Rs 28,555 crore will go to civil organisations under the Ministry of Defence, including the Border Roads Organisation and the Indian Coast Guard, to support infrastructure development and strategic operations.

Union budget 2026-27 announces a record Rs 7.85 lakh crore for the Ministry of Defence, featuring a massive 22% hike in capital outlay.

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. This hints at the centre's renewed focus on military readiness and modernisations amid a volatile geopolitical scenario and heightened threats on both eastern and western borders with China and Pakistan, respectively. As per official data, the defence outlay for 2026-27 is pegged at Rs 7,84,678 crores, compared to Rs 6,81,210 crores in the previous fiscal. The most significant part of the increase was the steep increase in defence capital expenditure, which was increased by 28 per cent to Rs 2.31 lakh crore vis-a-vis Rs 1.80 lakh crore last year. Of this, Rs 63,733 crore is allocated for aircraft and aero engines, and Rs 25,023 crores for the naval fleet. However, the union government has been expanding the defence budget; it reached Rs 29 lakh crore in 2014-15 and has grown to Rs 7.85 lakh crore in 2026-27. The increased capital outlay is set to fund major acquisitions of advanced weapon systems, including the biggest-ever fighter aircraft deal worth Rs 3.25 crore, India inked with France to purchase 114 Rafale jets and domestic defence manufacturing. Finance Minister Nirmala Shitaraman also announced exemption of basic customs duty on raw material imported forthe manufacturing of parts used in the maintenance, rapair and overhaul of defence units. Also Read: Union Budget 2026: FM Sitharaman proposes 7 high-speed rail corridors across India — CHECK routes here Breakup of the Defence budget The defence budget allocates Rs 3,65,479 crore for revenue expenditure to meet the armed forces’ day-to-day operational needs, including salaries, maintenance, and combat readiness. The government has earmarked a record Rs 2,19,306 crore for capital outlay, reflecting a 21.8 per cent increase aimed at modernisation and the acquisition of advanced military equipment. In addition, Rs 1,71,338 crore has been set aside to meet pension liabilities for more than 34 lakh retired defence personnel. The remaining Rs 28,555 crore will go to civil organisations under the Ministry of Defence, including the Border Roads Organisation and the Indian Coast Guard, to support infrastructure development and strategic operations.

Union budget 2026-27 announces a record Rs 7.85 lakh crore for the Ministry of Defence, featuring a massive 22% hike in capital outlay.

Big firepower for forces in Budget 2026: Capital outlay for defence surges 22% as India prepares for dual-front challenges

Union Finance Minister on Sunday created history by presenting her 9th consecutive Union Budget in Parliament, asserting that the "reform express" of the Narendra Modi-led government is well on its way. Know all the proposals, allocation of money for different sectors, and other plans.

Who got big bucks? From Biopharma to Defence: Breakdown of budget allocations in 2026 across key sectors

Health authorities across Asia, along with officials in the United States, are stepping up surveillance after India reported two confirmed human cases of the Nipah virus in West Bengal. Both patients, who are nurses, have shown improvement and have tested negative for the virus, according to officials this week. The male nurse has already been discharged from hospital care. The female nurse, while no longer testing positive, remains hospitalized for observation. An official told news agency PTI that she has been removed from ventilator support and her condition has improved considerably, though doctors say she is still being closely monitored.&nbsp;&nbsp;Nearly 200 individuals who came into contact with the two patients are currently under medical observation. In response to the confirmed infections, several Southeast Asian countries, including Pakistan, Singapore, Thailand, Malaysia, Hong Kong, Vietnam, Indonesia, Nepal, and the Philippines, have introduced precautionary measures. These include temperature screening at entry points, travel history assessments, and mandatory health declarations for travelers.&nbsp;Also Read: <a href="https://www.wionews.com/world/-serious-talks-us-and-iran-in-high-stakes-discussion-as-military-tensions-escalate-in-gulf-1769940090229">'Serious talks': US and Iran in high-stakes discussion as military tensions escalate in Gulf</a>&nbsp;While the Nipah virus has never been identified in the United States, infectious disease experts say the situation warrants careful attention. Dr. Krutika Kuppalli, a Texas-based specialist and former World Health Organization adviser, told the Daily Mail that even limited outbreaks should be taken seriously by global health agencies.&nbsp;&nbsp;She stressed that Nipah is considered a high-risk pathogen and that close monitoring, transparent data sharing, and preparedness are essential. She also highlighted the importance of international cooperation, noting the WHO’s key role in coordinating responses and distributing timely field information. A spokesperson for the US Centers for Disease Control and Prevention confirmed that the agency remains in close communication with Indian health authorities and is monitoring developments, adding that it is prepared to assist if required.&nbsp;<a href="https://www.wionews.com/videos/budget-2026-ditches-75-year-split-part-b-takes-lead-1769920549671/embed">https://www.wionews.com/videos/budget-2026-ditches-75-year-split-part-b-takes-lead-1769920549671/embed</a>&nbsp;According to the World Health Organization, Nipah virus infections can vary widely in severity. Some individuals may show no symptoms, while others can develop respiratory illness or life-threatening encephalitis, a serious inflammation of the brain. Early symptoms often include fever, headache, muscle pain, vomiting, and sore throat.

Nipah virus: Two confirmed cases sparks travel screening across Asia; US on high alert as CDC monitors developments

Health authorities across Asia, along with officials in the United States, are stepping up surveillance after India reported two confirmed human cases of the Nipah virus in West Bengal. Both patients, who are nurses, have shown improvement and have tested negative for the virus, according to officials this week. The male nurse has already been discharged from hospital care. The female nurse, while no longer testing positive, remains hospitalized for observation. An official told news agency PTI that she has been removed from ventilator support and her condition has improved considerably, though doctors say she is still being closely monitored. Nearly 200 individuals who came into contact with the two patients are currently under medical observation. In response to the confirmed infections, several Southeast Asian countries, including Pakistan, Singapore, Thailand, Malaysia, Hong Kong, Vietnam, Indonesia, Nepal, and the Philippines, have introduced precautionary measures. These include temperature screening at entry points, travel history assessments, and mandatory health declarations for travelers. Also Read: 'Serious talks': US and Iran in high-stakes discussion as military tensions escalate in Gulf While the Nipah virus has never been identified in the United States, infectious disease experts say the situation warrants careful attention. Dr. Krutika Kuppalli, a Texas-based specialist and former World Health Organization adviser, told the Daily Mail that even limited outbreaks should be taken seriously by global health agencies. She stressed that Nipah is considered a high-risk pathogen and that close monitoring, transparent data sharing, and preparedness are essential. She also highlighted the importance of international cooperation, noting the WHO’s key role in coordinating responses and distributing timely field information. A spokesperson for the US Centers for Disease Control and Prevention confirmed that the agency remains in close communication with Indian health authorities and is monitoring developments, adding that it is prepared to assist if required. https://www.wionews.com/videos/budget-2026-ditches-75-year-split-part-b-takes-lead-1769920549671/embed According to the World Health Organization, Nipah virus infections can vary widely in severity. Some individuals may show no symptoms, while others can develop respiratory illness or life-threatening encephalitis, a serious inflammation of the brain. Early symptoms often include fever, headache, muscle pain, vomiting, and sore throat.

Two Nipah virus cases in India have prompted heightened surveillance across Asia and monitoring by US health officials, though both patients are improving

Nipah virus: Two confirmed cases leads to travel screening across Asia; US on high alert as CDC monitors developments

With at least 11 mentions of AI in the Union Budget 2026–27, Finance Minister Nirmala Sitharaman stressed how technology is a key driver of economic growth and announced significant allocations and initiatives targeted at the information technology and AI sectors. A key vision of the budget she presented on Sunday (Feb 1) was to “Make AI in India and Make AI work for India”, with several proposals aimed at creating a robust AI ecosystem while addressing challenges related to jobs, skills and infrastructure.<h2>Measures to boost semiconductor production and data centres</h2>Boosting the fledgling semiconductor sector in India, attracting investments in data centres, increasing research funding and promoting sector-specific AI applications are among the key proposals in the budget.&nbsp;A total R&amp;D fund of ₹1 trillion has been spread over six years, out of which ₹20,000 crore has already been deployed.Also read: <a href="https://www.wionews.com/india-news/budget-2026-24-82-crore-indians-escaped-multidimensional-poverty-under-modi-govt-sitharaman-tells-parliament-1769926760965">Union Budget 2026 | 'Ambitious and aspirational': PM Modi hails FM Sitharaman's 'futuristic' budget</a><h2>AI as the catalyst for India's growth</h2>This year's budget saw the highest number of mentions of AI to date, with focus across governance, agriculture, healthcare and education.The budget will continue supporting the IndiaAI Mission with an allocation of ₹2,000 crore, alongside the National Quantum Mission with ₹6,003 crore.These initiatives, along with the Anusandhan National Research Fund, aim to promote AI adoption, research and development, and commercialisation in priority areas such as quantum computing, biotechnology, the digital economy and deep technologies.In the agriculture sector, the budget envisions Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources), a new multilingual AI tool integrating AgriStack portals and Indian Council of Agricultural Research (ICAR) packages. This system is intended to provide customised advisory support, enhance farm productivity and reduce risks for farmers.Also read: <a href="https://www.wionews.com/photos/union-budget-2026-what-gets-cheaper-and-what-becomes-costlier-1769919522225">Union Budget 2026: What gets cheaper and what becomes costlier</a><h2>A committee on AI impact on economy</h2>A High-Powered Standing Committee has been proposed to assess the impact of AI and emerging technologies on jobs, skills and the services sector. This includes embedding AI in education, teacher training, reskilling technology professionals and labour market analysis.The budget has also allocated ₹500 crore for AI Centres of Excellence and envisions the establishment of 80 IndiaAI Labs to foster innovation and skills development.<a href="https://www.wionews.com/videos/india-budget-2026-sitharaman-unveils-tax-overhaul-infra-mega-spend-1769937689215/embed">https://www.wionews.com/videos/india-budget-2026-sitharaman-unveils-tax-overhaul-infra-mega-spend-1769937689215/embed</a><h2>AI applications ranging from governance to logistics; Deep Tech Fund and Semiconductor Mission 2.0</h2>The budget views AI as a “force multiplier” for public service delivery in governance, healthcare, logistics and agriculture.It also highlights AI-driven solutions for energy transition, climate action and strategic sectors such as defence and space.A Deep Tech Fund has been proposed as part of efforts to position India as a global AI leader, dedicated to supporting AI and deep-tech start-ups.<h2>Proposals for information technology: tax incentives, infrastructure boosts and reforms</h2>The India Semiconductor Mission 2.0 was mentioned in the budget, with Phase II focusing on producing semiconductor equipment and materials, designing full-stack Indian intellectual property, strengthening supply chains, and establishing industry-led research and training centres for skilled workforce development.To support self-reliance in hardware, a budget allocation of ₹40,000 crore was made for the manufacture of electronic components, nearly doubling the outlay under previous schemes.<h2>Tax holiday for data centres and cloud services; safe harbour reforms for IT</h2>A tax holiday until 2047 for foreign companies providing cloud services through Indian data centres or resellers featured prominently in the budget.&nbsp;The proposals include a 15 per cent safe harbour margin for related entities to attract global investment and strengthen India’s digital infrastructure.For safe harbour computation, software development, IT-enabled services (ITES), knowledge process outsourcing (KPO) and contract R&amp;D will be consolidated under a single “Information Technology Services” category. The uniform safe harbour margin will be 15.5 per cent, while the eligibility threshold has been raised from ₹300 crore to ₹2,000 crore to benefit more firms and reduce tax disputes.<h2>Creative economy boost: The orange sector gets a mention</h2>The finance minister also acknowledged the creator economy, or orange economy, encompassing animation, visual effects, gaming and comics (AVGC).The budget proposals for this sector includesestablishing labs in 15,000 schools and 500 colleges to build talent capacity and address a projected demand for 2 million professionals by 2030.<h2>IT in the broader economy</h2>The integration of AI and IT in areas such as rare earths, biopharma and cybersecurity was also mentioned in the budget.Overall, the minister appears to have emphasised a push towards an “intelligence-first” economy, combining immediate incentives with long-term investments to position India as a global hub for IT and AI.

India Budget 2026 had an unprecedented focus on AI and IT as growth drivers. Tax incentives, funding boost, semiconductor push, data centre reforms, and safe harbour reforms are among the proposals. 

With at least 11 mentions of AI in the Union Budget 2026–27, Finance Minister Nirmala Sitharaman stressed how technology is a key driver of economic growth and announced significant allocations and initiatives targeted at the information technology and AI sectors. A key vision of the budget she presented on Sunday (Feb 1) was to “Make AI in India and Make AI work for India”, with several proposals aimed at creating a robust AI ecosystem while addressing challenges related to jobs, skills and infrastructure. Measures to boost semiconductor production and data centres Boosting the fledgling semiconductor sector in India, attracting investments in data centres, increasing research funding and promoting sector-specific AI applications are among the key proposals in the budget. A total R&D fund of ₹1 trillion has been spread over six years, out of which ₹20,000 crore has already been deployed. Also read: Union Budget 2026 | 'Ambitious and aspirational': PM Modi hails FM Sitharaman's 'futuristic' budget AI as the catalyst for India's growth This year's budget saw the highest number of mentions of AI to date, with focus across governance, agriculture, healthcare and education. The budget will continue supporting the IndiaAI Mission with an allocation of ₹2,000 crore, alongside the National Quantum Mission with ₹6,003 crore. These initiatives, along with the Anusandhan National Research Fund, aim to promote AI adoption, research and development, and commercialisation in priority areas such as quantum computing, biotechnology, the digital economy and deep technologies. In the agriculture sector, the budget envisions Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources), a new multilingual AI tool integrating AgriStack portals and Indian Council of Agricultural Research (ICAR) packages. This system is intended to provide customised advisory support, enhance farm productivity and reduce risks for farmers. Also read: Union Budget 2026: What gets cheaper and what becomes costlier A committee on AI impact on economy A High-Powered Standing Committee has been proposed to assess the impact of AI and emerging technologies on jobs, skills and the services sector. This includes embedding AI in education, teacher training, reskilling technology professionals and labour market analysis. The budget has also allocated ₹500 crore for AI Centres of Excellence and envisions the establishment of 80 IndiaAI Labs to foster innovation and skills development. https://www.wionews.com/videos/india-budget-2026-sitharaman-unveils-tax-overhaul-infra-mega-spend-1769937689215/embed AI applications ranging from governance to logistics; Deep Tech Fund and Semiconductor Mission 2.0 The budget views AI as a “force multiplier” for public service delivery in governance, healthcare, logistics and agriculture. It also highlights AI-driven solutions for energy transition, climate action and strategic sectors such as defence and space. A Deep Tech Fund has been proposed as part of efforts to position India as a global AI leader, dedicated to supporting AI and deep-tech start-ups. Proposals for information technology: tax incentives, infrastructure boosts and reforms The India Semiconductor Mission 2.0 was mentioned in the budget, with Phase II focusing on producing semiconductor equipment and materials, designing full-stack Indian intellectual property, strengthening supply chains, and establishing industry-led research and training centres for skilled workforce development. To support self-reliance in hardware, a budget allocation of ₹40,000 crore was made for the manufacture of electronic components, nearly doubling the outlay under previous schemes. Tax holiday for data centres and cloud services; safe harbour reforms for IT A tax holiday until 2047 for foreign companies providing cloud services through Indian data centres or resellers featured prominently in the budget. The proposals include a 15 per cent safe harbour margin for related entities to attract global investment and strengthen India’s digital infrastructure. For safe harbour computation, software development, IT-enabled services (ITES), knowledge process outsourcing (KPO) and contract R&D will be consolidated under a single “Information Technology Services” category. The uniform safe harbour margin will be 15.5 per cent, while the eligibility threshold has been raised from ₹300 crore to ₹2,000 crore to benefit more firms and reduce tax disputes. Creative economy boost: The orange sector gets a mention The finance minister also acknowledged the creator economy, or orange economy, encompassing animation, visual effects, gaming and comics (AVGC). The budget proposals for this sector includesestablishing labs in 15,000 schools and 500 colleges to build talent capacity and address a projected demand for 2 million professionals by 2030. IT in the broader economy The integration of AI and IT in areas such as rare earths, biopharma and cybersecurity was also mentioned in the budget. Overall, the minister appears to have emphasised a push towards an “intelligence-first” economy, combining immediate incentives with long-term investments to position India as a global hub for IT and AI.

India Budget 2026 had an unprecedented focus on AI and IT as growth drivers. Tax incentives, funding boost, semiconductor push, data centre reforms, and safe harbour reforms are among the proposals. Here is a roundup

India Budget 2026 had 11 mentions of Artificial Intelligence: What are the AI- and IT-linked proposals by Finance Minister Nirmala Sitharaman?

Union Budget 2026–27 unveiled new schemes spanning AI in agriculture, rare earth corridors, semiconductors, clean energy, textiles and skills, signalling a push for self-reliance, jobs and long-term growth.

Union Budget 2026: Key new schemes announced by FM Sitharaman

Finance Minister Nirmala Sitharaman's ninth budget is promising to integrate India into the global supply chain. It projects export as the 4th engine. Last year's budget reduced the number of basic customs duty slabs to eight by merging several rates. Many products were subjected to several lobbies such as cess, the social welfare surcharge (SWS), and the agriculture infrastructure and development cess (AIDC). This year's budget has only one cess or surcharge per item, the social welfare surcharge removed from 82 tariff lines.Also Read: <a href="https://www.wionews.com/india-news/old-vs-new-tax-regime-which-income-tax-system-is-better-budget-2026-1769922262244">Union Budget 2026: Old tax regime vs new tax regime, which is better for taxpayers?</a><h2>Import duty relief</h2>Zero import duty on items such as critical minerals, lithium, cobalt, lead, zinc etc, specifically EV and mobile battery manufacturing goods, shipbuilding inputs, textile machinery, electronic componenets, input parts of PCBA, camera module, connectors and inputs or raw materials for use in manufacture of wired headset, microphone and receiver, USB cable, fingerprint reader/ sensor of cellular mobile phone, specified inputs/parts (chip on film, PCBA, glass board substrate cell) for use in manufacture of open cells of TV panels of LED/LCD TV, ground installation for satellites including its spares and consumables, goods used in the building of launch vehicles and launching of satellites, wet blue leather, shuttle less loom rapier looms and shuttle less loom Air jet Looms, 17 essential drugs or medicines. Significant import duty has been slashed in major items such as aquafarming and marine exports, chemicals for food and drinks, precious metals, some IT and electronic parts, motorcycle engines, etc. &nbsp;Other relaxations include extension of the time limit to duty-free inputs, from six months to one year, with a further three-month extension available if required. Additional inputs have been added to the duty-free list to support handicraft exporters.&nbsp;Also Read: <a href="http://wionews.com/photos/union-budget-2026-what-gets-cheaper-and-what-becomes-costlier-1769919522225/1769919522226">Union Budget 2026: What gets cheaper and what becomes costlier</a><h2>Supply chain integration</h2>The Union Government is pushing a digital platform Bharat Trade Net for international trade, one platform for all, logistics, financing and compliance. A big push for export credit, cross-border factoring, and MSMEs to deal with no tariff barrier in the foreign market. There is targeted support for specific sectors that have potential for supply chain integration, such as IT, Electronics, and Textiles. There is also an export promotion mission to be jointly led by MSME, Commerce and Finance, aimed at improving access to credit, helping Indian MSMEs in navigating the international market. To further reduce uncertainty for traders, the Budget introduced a two-year time limit, extendable by one year, for finalising provisional customs assessments. These measures point towards a greater emphasis on easing compliance and making institutional credit and logistical support available to traders in the volatile international markets. &nbsp;

Budget 2026 positions exports as India’s fourth growth engine, cuts import duties, removes SWS on 82 items, and launches Bharat Trade Net to boost global trade.

Finance Minister Nirmala Sitharaman's ninth budget is promising to integrate India into the global supply chain. It projects export as the 4th engine. Last year's budget reduced the number of basic customs duty slabs to eight by merging several rates. Many products were subjected to several lobbies such as cess, the social welfare surcharge (SWS), and the agriculture infrastructure and development cess (AIDC). This year's budget has only one cess or surcharge per item, the social welfare surcharge removed from 82 tariff lines. Also Read: Union Budget 2026: Old tax regime vs new tax regime, which is better for taxpayers? Import duty relief Zero import duty on items such as critical minerals, lithium, cobalt, lead, zinc etc, specifically EV and mobile battery manufacturing goods, shipbuilding inputs, textile machinery, electronic componenets, input parts of PCBA, camera module, connectors and inputs or raw materials for use in manufacture of wired headset, microphone and receiver, USB cable, fingerprint reader/ sensor of cellular mobile phone, specified inputs/parts (chip on film, PCBA, glass board substrate cell) for use in manufacture of open cells of TV panels of LED/LCD TV, ground installation for satellites including its spares and consumables, goods used in the building of launch vehicles and launching of satellites, wet blue leather, shuttle less loom rapier looms and shuttle less loom Air jet Looms, 17 essential drugs or medicines. Significant import duty has been slashed in major items such as aquafarming and marine exports, chemicals for food and drinks, precious metals, some IT and electronic parts, motorcycle engines, etc. Other relaxations include extension of the time limit to duty-free inputs, from six months to one year, with a further three-month extension available if required. Additional inputs have been added to the duty-free list to support handicraft exporters. Also Read: Union Budget 2026: What gets cheaper and what becomes costlier Supply chain integration The Union Government is pushing a digital platform Bharat Trade Net for international trade, one platform for all, logistics, financing and compliance. A big push for export credit, cross-border factoring, and MSMEs to deal with no tariff barrier in the foreign market. There is targeted support for specific sectors that have potential for supply chain integration, such as IT, Electronics, and Textiles. There is also an export promotion mission to be jointly led by MSME, Commerce and Finance, aimed at improving access to credit, helping Indian MSMEs in navigating the international market. To further reduce uncertainty for traders, the Budget introduced a two-year time limit, extendable by one year, for finalising provisional customs assessments. These measures point towards a greater emphasis on easing compliance and making institutional credit and logistical support available to traders in the volatile international markets.

Budget 2026 positions exports as India’s fourth growth engine, cuts import duties, removes SWS on 82 items, and launches Bharat Trade Net to boost global trade.

Union Budget 2026: Export as the 4th engine, eases customs for global supply chain integration

Indian Finance Minister Nirmala Sitharaman announced an allocation of Rs 10,000 crore to small and medium enterprises (SMEs) during the Union Budget 2026-27 presentation in the Lok Sabha on Sunday (Feb 1). The move will help in creating future jobs and incentivising enterprises based on select criteria for the businesses.“I propose to introduce a dedicated 10,000 crores SME growth fund to create future champions, incentivising enterprises based on select criteria. I also propose to top up the self-reliant India fund set up in 2021 with 2,000 crores to continue support to micro-enterprises and maintain their access to risk capital,” she said.Currently, there are more than one crore registered MSMEs, employing 7.5 crore people, and generating 36 per cent of India’s manufacturing. These enterprises have positioned India as a global manufacturing hub. More than Rs 7 lakh crore has been made available to MSMEs through liquidity support.Sitharaman further added, “To leverage its full potential, I propose four measures. One: mandate TREDS as the transaction settlement platform for all purchases from MSMEs by CPSEs. Survey as a benchmark for other corporates. Two: introduce a credit guarantee support mechanism through CGT-MSC for invoice discounting on the TREDS platform. Three: link GEN with TREDS for sharing information with financiers about government purchases from SMEs, encouraging cheaper and quicker financing. Four: Introduce TREDS receivables as asset-backed securities, helping develop a secondary market, enhancing liquidity and settlement of transactions.”Sitharaman also noted that the government shall continue to focus on developing infrastructure in Tier II and Tier III cities that have a population of more than 5 lakh. These cities have expanded to become growth centres of the country.The public capital expenditure has increased manifold from Rs 2 lakh crore in 2014-15 to an allocation of Rs 11.2 lakh crore. In the financial year 2026-27, Sitharaman proposed to increase it to Rs 12.2 lakh crore to continue the momentum.

India Union Budget 2026: FM Sitharaman announces allocation of Rs 10,000 crore for SMEs

Indian Finance Minister Nirmala Sitharaman announced an allocation of Rs 10,000 crore to small and medium enterprises (SMEs) during the Union Budget 2026-27 presentation in the Lok Sabha on Sunday (Feb 1). The move will help in creating future jobs and incentivising enterprises based on select criteria for the businesses. “I propose to introduce a dedicated 10,000 crores SME growth fund to create future champions, incentivising enterprises based on select criteria. I also propose to top up the self-reliant India fund set up in 2021 with 2,000 crores to continue support to micro-enterprises and maintain their access to risk capital,” she said. Currently, there are more than one crore registered MSMEs, employing 7.5 crore people, and generating 36 per cent of India’s manufacturing. These enterprises have positioned India as a global manufacturing hub. More than Rs 7 lakh crore has been made available to MSMEs through liquidity support. Sitharaman further added, “To leverage its full potential, I propose four measures. One: mandate TREDS as the transaction settlement platform for all purchases from MSMEs by CPSEs. Survey as a benchmark for other corporates. Two: introduce a credit guarantee support mechanism through CGT-MSC for invoice discounting on the TREDS platform. Three: link GEN with TREDS for sharing information with financiers about government purchases from SMEs, encouraging cheaper and quicker financing. Four: Introduce TREDS receivables as asset-backed securities, helping develop a secondary market, enhancing liquidity and settlement of transactions.” Sitharaman also noted that the government shall continue to focus on developing infrastructure in Tier II and Tier III cities that have a population of more than 5 lakh. These cities have expanded to become growth centres of the country. The public capital expenditure has increased manifold from Rs 2 lakh crore in 2014-15 to an allocation of Rs 11.2 lakh crore. In the financial year 2026-27, Sitharaman proposed to increase it to Rs 12.2 lakh crore to continue the momentum.

FM Nirmala Sitharaman announced a Rs 10,000 crore SME growth fund and Rs 2,000 crore top-up for micro firms in Budget 2026–27, alongside TREDS reforms and higher public capex to boost jobs, credit and growth.

Union Budget 2026-2027 presented by Finance Minister Nirmala Sitharaman was welcomed by people and economists around the country, however, the opposition did not look very happy with it as Lok Sabha Leader of the Opposition declined to make any immediate comment and stated he would only speak in the parliament on Monday.&nbsp;"I will speak tomorrow, using the platform provided by Parliament," Rahul Gandhi told reporters after the presentation of the Union Budget 2026 by FM Sitharaman.&nbsp;While Congress MP Jairam Ramesh was quick to call the budget "lacklusture" and "woefully short of the hype that was generated" around it.&nbsp;"While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes," said Ramesh.&nbsp;<h2>Sitharaman lauds economic achievements in budget 2026</h2>&nbsp;Earlier today, during her budget presentation in the parliament, Sitharaman lauded the economic achievements of the NDA government and said India's economic trajectory since 2014 has been marked by stability, fiscal discipline and sustained growth.&nbsp;"The reform express is well on its way and will maintain its momentum to help us fulfill our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman.&nbsp;This was Sitharaman's ninth consecutive budget, which is a record. Now she inches closer to presenting the maximum number of budgets (10) held in the name of former Prime Minister Morarji Desai.&nbsp;Former finance minister P Chidambaram has also presented nine Union budgets (not consecutively), first one being on March 19, 1996, during the United Front government led by Prime Minister HD Deve Gowda.&nbsp; &nbsp;

Congress MP Jairam Ramesh has called the budget 2026 presented by Finance Minister Nirmala Sitharaman as  lacklusture and woefully short of the hype that was generated around it.

Union Budget 2026-2027 presented by Finance Minister Nirmala Sitharaman was welcomed by people and economists around the country, however, the opposition did not look very happy with it as Lok Sabha Leader of the Opposition declined to make any immediate comment and stated he would only speak in the parliament on Monday. "I will speak tomorrow, using the platform provided by Parliament," Rahul Gandhi told reporters after the presentation of the Union Budget 2026 by FM Sitharaman. While Congress MP Jairam Ramesh was quick to call the budget "lacklusture" and "woefully short of the hype that was generated" around it. "While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes," said Ramesh. Sitharaman lauds economic achievements in budget 2026 Earlier today, during her budget presentation in the parliament, Sitharaman lauded the economic achievements of the NDA government and said India's economic trajectory since 2014 has been marked by stability, fiscal discipline and sustained growth. "The reform express is well on its way and will maintain its momentum to help us fulfill our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman. This was Sitharaman's ninth consecutive budget, which is a record. Now she inches closer to presenting the maximum number of budgets (10) held in the name of former Prime Minister Morarji Desai. Former finance minister P Chidambaram has also presented nine Union budgets (not consecutively), first one being on March 19, 1996, during the United Front government led by Prime Minister HD Deve Gowda.

Congress MP Jairam Ramesh has called the budget 2026 presented by Finance Minister Nirmala Sitharaman as "lacklusture" and "woefully short of the hype that was generated" around it.

Union Budget 2026: Rahul Gandhi refuses to comment, Jairam Ramesh calls it 'lacklusture'

With the aim of attracting global businesses to India and boost investment in artificial intelligence, cloud services and other IT-related sectors, Finance Minister Nirmala Sitharaman on Sunday (1 February) proposed a range of direct tax reforms and other measures. Here is a look at the key proposals<h2>Tax holiday for data centre services</h2>Several companies are setting up data centres in India capable of handling artificial intelligence computing, and cloud services. Sitharaman proposed a tax holiday until 2047 for any foreign company providing global services by procuring data centre services in India.&nbsp;Similarly, direct tax exemptions will be granted to foreign companies supplying capital goods, equipment and tooling to manufacturers operating in bonded zones and engaged in the manufacture of electronic goods.Some critical minerals will be included in the list of minerals to incentivise their prospecting and exploration in India. These critical minerals are at the core of modern-day computing.Also read: <a href="https://www.wionews.com/india-news/no-funding-allocated-for-chabahar-port-in-indian-budget-2026-1769931704068">No funding allocated for Chabahar port in Indian Budget 2026</a><h2>IT services to get improved safe harbour margin</h2>India is a global leader in software development services, IT-enabled services, knowledge process outsourcing services and contract R&amp;D services related to software development. These business segments are closely interconnected.<a href="https://www.wionews.com/videos/budget-2026-trump-proofing-india-s-5t-growth-path-1769922341904/embed">https://www.wionews.com/videos/budget-2026-trump-proofing-india-s-5t-growth-path-1769922341904/embed</a>&nbsp;All these services are now proposed to be clubbed under a single category, Information Technology Services (ITS), with a common safe harbour margin of 15.5 per cent applicable across the board.Also read: <a href="https://www.wionews.com/india-news/budget-2026-what-changes-for-india-s-taxpayers-from-itr-deadlines-to-penalties-key-takeaways-1769927655268">Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties | Key takeaways</a>&nbsp;In addition, the threshold for availing the safe harbour for IT services is proposed to be enhanced substantially from ₹300 crore to ₹2,000 crore.The approvals for safe harbour for ITS will be granted through an automated, rule-based system, reducing compliance friction.The government is expected to fast-track Advance Pricing Agreement (APA) processes for the ITS sector to further enhance tax certainty and predictability.These reforms are likely to be appreciated and welcomed by the tech industry.

India Budget 2026 proposed tax holidays for foreign-operated data centres and higher safe harbour limits for IT services. The aim is to attract global tech companies to India, and investment in sectors like AI  and cloud computing

With the aim of attracting global businesses to India and boost investment in artificial intelligence, cloud services and other IT-related sectors, Finance Minister Nirmala Sitharaman on Sunday (1 February) proposed a range of direct tax reforms and other measures. Here is a look at the key proposals Tax holiday for data centre services Several companies are setting up data centres in India capable of handling artificial intelligence computing, and cloud services. Sitharaman proposed a tax holiday until 2047 for any foreign company providing global services by procuring data centre services in India. Similarly, direct tax exemptions will be granted to foreign companies supplying capital goods, equipment and tooling to manufacturers operating in bonded zones and engaged in the manufacture of electronic goods. Some critical minerals will be included in the list of minerals to incentivise their prospecting and exploration in India. These critical minerals are at the core of modern-day computing. Also read: No funding allocated for Chabahar port in Indian Budget 2026 IT services to get improved safe harbour margin India is a global leader in software development services, IT-enabled services, knowledge process outsourcing services and contract R&D services related to software development. These business segments are closely interconnected. https://www.wionews.com/videos/budget-2026-trump-proofing-india-s-5t-growth-path-1769922341904/embed All these services are now proposed to be clubbed under a single category, Information Technology Services (ITS), with a common safe harbour margin of 15.5 per cent applicable across the board. Also read: Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties | Key takeaways In addition, the threshold for availing the safe harbour for IT services is proposed to be enhanced substantially from ₹300 crore to ₹2,000 crore. The approvals for safe harbour for ITS will be granted through an automated, rule-based system, reducing compliance friction. The government is expected to fast-track Advance Pricing Agreement (APA) processes for the ITS sector to further enhance tax certainty and predictability. These reforms are likely to be appreciated and welcomed by the tech industry.

India Budget 2026 proposed tax holidays for foreign-operated data centres and higher safe harbour limits for IT services. The aim is to attract global tech companies to India, and investment in sectors like AI &nbsp;and cloud computing

India Budget 2026: Tax holiday for foreign data centre operators; safe harbour margin for IT services to boost sector

Finance Minister Nirmala Sitharaman underlined the commitment of the government to sustaining structural reforms and simplifying the tax system. A series of direct tax changes were announced, with a new Income Tax Act set to reshape compliance and administration from the next financial year.

New Income Tax Act from April 1: Buyback taxation, remittance rules & more—Here's what every taxpayers should know

Hailing the Budget 2026 as India's roadmap for the ‘Reform Express’ it is on, Prime Minister Narendra Modi said that it lays a strong foundation for the flight to the vision of ‘Viksit Bharat 2047’. He said that Finance Minister Nirmala Sitharaman achieved a historic feat by delivering the budget speech for ninth consecutive time. The PM also added that the path-breaking reforms announced in the budget will provide an open sky to the "courageous, talented youth of India." PM Modi highlighted that budget focusses on bringing down the fiscal deficit and keep inflation under control as well as it is a combination of high Capex and growth. &nbsp;Also Read: <a href="https://www.wionews.com/photos/union-budget-2026-income-tax-slabs-old-new-regime-slabs-ltcg-what-becomes-costlier-cheaper-1769933963094">Union Budget 2026: Key takeaways on income tax, LTCG, what becomes costlier and what becomes cheaper</a>

<blockquote class="twitter-tweet" data-media-max-width="560"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | On <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a>, PM Narendra Modi says, &quot;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.&quot; (Video: DD) <a href="https://t.co/GBxJxs14uC">pic.twitter.com/GBxJxs14uC</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/2017882948423626805?ref_src=twsrc%5Etfw">February 1, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<a href="https://www.wionews.com/videos/budget-2026-tds-rate-reduced-from-5-to-2-without-any-limit-1769934046811/embed">https://www.wionews.com/videos/budget-2026-tds-rate-reduced-from-5-to-2-without-any-limit-1769934046811/embed</a>&nbsp;&nbsp;"This Budget further strengthens India's global role. The 140 crore citizens of India are satisfied with not just being the fastest-growing economy, but we also want to be the third-largest global economy at the earliest. This is the resolve of crores of citizens of the country. As a trusted, democratic partner of the world and as a trusted quality supplier, India's role is expanding continuously. The maximum benefit of trade deals recently signed by India - Mother of All Deals, should go to the youth of India, to the small and medium scale industries of India. In this direction, major steps have been taken in the Budget," the prime minister said.&nbsp;Also Read: <a href="https://www.wionews.com/photos/union-budget-2026-what-gets-cheaper-and-what-becomes-costlier-1769919522225">Union Budget 2026: What gets cheaper and what becomes costlier</a>&nbsp;The Prime Minister added that significant measures have been implemented to boost tourism, particularly in the Northeast. “In this budget, significant measures have been implemented to boost tourism, especially in the Northeast region. By strengthening various states, the budget lays the foundation for balanced and equitable development.” Highlighting the need to strengthen infrastructure and several major initiatives, PM Modi further added that the construction of high-speed rail corridors, and a special focus on the growth of tier 2 and tier 3 cities would develop the states.

Prime Minister Narendra Modi praised Budget 2026 as a historic roadmap for India’s “Reform Express” towards Viksit Bharat 2047. He said it boosts growth through high capital spending, fiscal discipline and inflation control, while empowering youth 

Hailing the Budget 2026 as India's roadmap for the ‘Reform Express’ it is on, Prime Minister Narendra Modi said that it lays a strong foundation for the flight to the vision of ‘Viksit Bharat 2047’. He said that Finance Minister Nirmala Sitharaman achieved a historic feat by delivering the budget speech for ninth consecutive time. The PM also added that the path-breaking reforms announced in the budget will provide an open sky to the "courageous, talented youth of India." PM Modi highlighted that budget focusses on bringing down the fiscal deficit and keep inflation under control as well as it is a combination of high Capex and growth. Also Read: Union Budget 2026: Key takeaways on income tax, LTCG, what becomes costlier and what becomes cheaper

Prime Minister Narendra Modi praised Budget 2026 as a historic roadmap for India’s “Reform Express” towards Viksit Bharat 2047. He said it boosts growth through high capital spending, fiscal discipline and inflation control, while empowering youth&nbsp;

Union Budget 2026 | 'Ambitious and aspirational': PM Modi hails FM Sitharaman's 'futuristic' budget

Finance Minister Nirmala Sitharaman presented the Union Budget 2026-2027 in the parliament on Sunday (Feb 1). Several economic &nbsp;announcements to boost growth were made but the markets did not respond in positive. The Sensex dropped over 2,300 points from the day’s high and the Nifty 50 slid to 24,571.75, largely due to the hike in the Securities Transaction Tax (STT). The market capitalisation of all listed companies on the BSE dropped by Rs 6 lakh crore to settle at Rs 453.87 lakh crore.&nbsp;Due to the new Budget proposals introduced by Nirmala Sitharaman, STT on futures contracts will jump to 0.05% from 0.02%, while the tax on options premiums will increase to 0.15% from 0.10%. The levy on options exercised will also climb to 0.15% from 0.125%.&nbsp;STT on options premium and exercise have been announced to be increased to 0.15% from the present rate of 0.1% and 0.125%, respectively.&nbsp;ALSO READ: <a href="https://www.wionews.com/india-news/india-ups-budget-allocation-for-afghanistan-mongolia-nepal-sri-lanka-but-a-cut-for-bangladesh-1769933523577">India ups budget allocation for Afghanistan, Mongolia, Nepal, Sri Lanka but a cut for Bangladesh</a>&nbsp;“I propose to raise the STT on Futures to 0.05% from the present 0.02%. STT on options premium and exercise of options are both proposed to be raised to 0.15% from the present rate of 0.1% and 0.125%, respectively,” said Sitharaman in her budget speech.&nbsp;This led to &nbsp;intense selling, especially in stocks linked to trading, broking, and market participation, as investors reassessed the cost of trading in the derivatives segment.&nbsp;In every buy or sell transaction in the stock market, including shares, futures, and options the government implies a small Security Transaction Tax which has been hiked marginally leading to this trend (crash) in the market.&nbsp;<a href="https://www.wionews.com/videos/budget-2026-tds-rate-reduced-from-5-to-2-without-any-limit-1769934046811/embed">https://www.wionews.com/videos/budget-2026-tds-rate-reduced-from-5-to-2-without-any-limit-1769934046811/embed</a>&nbsp;&nbsp;Though, this change might look slim it directly increases the cost of trading, particularly for frequent traders, hedgers, and arbitrageurs.&nbsp;"The steep increase in STT on futures and options, coming on top of last year's hike, is likely to raise impact costs for traders, hedgers, and arbitrageurs. This could cool derivative activity and lead to a reduction in volumes," said Shripal Shah, Managing Director and CEO of Kotak Securities to news agaency ANI.&nbsp;(With input from agencies)&nbsp;

Due to the new Budget proposals introduced by Nirmala Sitharaman, STT on futures contracts will jump to 0.05% from 0.02%.

Finance Minister Nirmala Sitharaman presented the Union Budget 2026-2027 in the parliament on Sunday (Feb 1). Several economic announcements to boost growth were made but the markets did not respond in positive. The Sensex dropped over 2,300 points from the day’s high and the Nifty 50 slid to 24,571.75, largely due to the hike in the Securities Transaction Tax (STT). The market capitalisation of all listed companies on the BSE dropped by Rs 6 lakh crore to settle at Rs 453.87 lakh crore. Due to the new Budget proposals introduced by Nirmala Sitharaman, STT on futures contracts will jump to 0.05% from 0.02%, while the tax on options premiums will increase to 0.15% from 0.10%. The levy on options exercised will also climb to 0.15% from 0.125%. STT on options premium and exercise have been announced to be increased to 0.15% from the present rate of 0.1% and 0.125%, respectively. ALSO READ: India ups budget allocation for Afghanistan, Mongolia, Nepal, Sri Lanka but a cut for Bangladesh “I propose to raise the STT on Futures to 0.05% from the present 0.02%. STT on options premium and exercise of options are both proposed to be raised to 0.15% from the present rate of 0.1% and 0.125%, respectively,” said Sitharaman in her budget speech. This led to intense selling, especially in stocks linked to trading, broking, and market participation, as investors reassessed the cost of trading in the derivatives segment. In every buy or sell transaction in the stock market, including shares, futures, and options the government implies a small Security Transaction Tax which has been hiked marginally leading to this trend (crash) in the market. https://www.wionews.com/videos/budget-2026-tds-rate-reduced-from-5-to-2-without-any-limit-1769934046811/embed Though, this change might look slim it directly increases the cost of trading, particularly for frequent traders, hedgers, and arbitrageurs. "The steep increase in STT on futures and options, coming on top of last year's hike, is likely to raise impact costs for traders, hedgers, and arbitrageurs. This could cool derivative activity and lead to a reduction in volumes," said Shripal Shah, Managing Director and CEO of Kotak Securities to news agaency ANI. (With input from agencies)

Due to the new Budget proposals introduced by Nirmala Sitharaman, STT on futures contracts will jump to 0.05% from 0.02%.

Union Budget 2026: What caused Sensex, Nifty to crash after Sitharaman's budget announcement?

India's Union Budget for the upcoming fiscal year has increased development aid allocations to several key neighbouring countries, reflecting a continued emphasis on its "Neighbourhood First" policy amid evolving regional dynamics. India boosts aid to Bhutan, Nepal and others in neighbourhood policy push.&nbsp;&nbsp;In the latest Union Budget, India has raised financial support for Bhutan, its closest strategic partner, to Rs 2,288.55 crore, marking a notable increase and underscoring the enduring special relationship between the two nations, particularly in areas such as hydropower and infrastructure development.&nbsp;Also Read: <a href="https://www.wionews.com/photos/why-budget-2026-makes-it-easier-than-ever-for-nris-to-invest-in-india-1769928376965">Why Budget 2026 makes it easier than ever for NRIs to invest in India</a><a href="https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed">https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed</a>&nbsp;&nbsp;Allocation to Afghanistan shows more Indian projects in the pipeline for the country. India, and the Islamic Emirates of Afghanistan govt have increased ties. Last year, India upped its mission in Kabul to an embassy. In January, Afghanistan appointed a diplomat in Delhi.&nbsp;&nbsp;Nepal receives Rs 800 crore, up by Rs 100 crore, while Sri Lanka is allocated Rs 400 crore, also an increase of Rs 100 crore. These adjustments come as both countries navigate economic recovery.&nbsp;Also Read:&nbsp;<a href="https://www.wionews.com/photos/union-budget-2026-what-gets-cheaper-and-what-becomes-costlier-1769919522225">Union Budget 2026: What gets cheaper and what becomes costlier</a>&nbsp;Smaller but significant hikes include Mongolia, where funding has jumped substantially from Rs 5 crore previously to Rs 25 crore (an increase of Rs 20 crore), and Mauritius, up by Rs 50 crore to Rs 550 crore. Seychelles remains unchanged at Rs 19 crore.In contrast, allocations to Bangladesh have decreased by Rs 60 crore to Rs 60 crore, Maldives by Rs 50 crore to Rs 550 crore, and Myanmar by Rs 50 crore to Rs 300 crore. Notably, for Bangladesh, only Rs 34 crore of the previous Rs 120 crore allocation was utilised, indicating potential under-absorption or shifts in project implementation.&nbsp;The Ministry of External Affairs (MEA) overall budget has seen a modest rise to Rs 22,118.97 crore, up from Rs 20,516.61 crore in the previous year.

India’s Union Budget for the coming year raises development aid for key neighbours under the Neighbourhood First policy. Support for Bhutan, Nepal, Sri Lanka, Afghanistan and others has increased, while allocations for Bangladesh, Maldives and Myanmar have been reduced.

India's Union Budget for the upcoming fiscal year has increased development aid allocations to several key neighbouring countries, reflecting a continued emphasis on its "Neighbourhood First" policy amid evolving regional dynamics. India boosts aid to Bhutan, Nepal and others in neighbourhood policy push. In the latest Union Budget, India has raised financial support for Bhutan, its closest strategic partner, to Rs 2,288.55 crore, marking a notable increase and underscoring the enduring special relationship between the two nations, particularly in areas such as hydropower and infrastructure development. Also Read: Why Budget 2026 makes it easier than ever for NRIs to invest in India https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed Allocation to Afghanistan shows more Indian projects in the pipeline for the country. India, and the Islamic Emirates of Afghanistan govt have increased ties. Last year, India upped its mission in Kabul to an embassy. In January, Afghanistan appointed a diplomat in Delhi. Nepal receives Rs 800 crore, up by Rs 100 crore, while Sri Lanka is allocated Rs 400 crore, also an increase of Rs 100 crore. These adjustments come as both countries navigate economic recovery. Also Read: Union Budget 2026: What gets cheaper and what becomes costlier Smaller but significant hikes include Mongolia, where funding has jumped substantially from Rs 5 crore previously to Rs 25 crore (an increase of Rs 20 crore), and Mauritius, up by Rs 50 crore to Rs 550 crore. Seychelles remains unchanged at Rs 19 crore. In contrast, allocations to Bangladesh have decreased by Rs 60 crore to Rs 60 crore, Maldives by Rs 50 crore to Rs 550 crore, and Myanmar by Rs 50 crore to Rs 300 crore. Notably, for Bangladesh, only Rs 34 crore of the previous Rs 120 crore allocation was utilised, indicating potential under-absorption or shifts in project implementation. The Ministry of External Affairs (MEA) overall budget has seen a modest rise to Rs 22,118.97 crore, up from Rs 20,516.61 crore in the previous year.

India’s Union Budget for the coming year raises development aid for key neighbours under the Neighbourhood First policy. Support for Bhutan, Nepal, Sri Lanka, Afghanistan and others has increased, while allocations for Bangladesh, Maldives and Myanmar have been reduced.

India ups budget allocation for Afghanistan, Mongolia, Nepal, Sri Lanka but a cut for Bangladesh

In a significant push, Indian Finance Minister Nirmala Sitharaman announced ‘Bharat Vistar’, an AI intgrated system to access agriculture resources during the Union Budget 2026-27 presentation in the Lok Sabha on Sunday (Feb 1). The multilingual tool will integrate the Agristack portal and the ICAR package on agricultural practices with AI systems. The launch will help in enhancing productivity, enabling farmers to make better decisions, and reducing risk.“I propose to launch Bharat Vista, a multilingual AI tool that shall integrate the Agristack portal and ICAR package on agricultural practices with AI systems. This will enhance productivity, enable better decisions for farmers, and reduce risk by providing customised advisory support,” Sitharaman said.Sitharaman also announced a scheme focusing on major coconut-growing states and measures like replacing non-productive trees with new, high-yielding saplings.“To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states,” she said.The finance minister also announced programs dedicated to Indian cashew and cocoa aimed at making India self-reliant in their production and processing.“A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030,” she said.Sitharaman also said, “Sandalwood is closely linked to India’s social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem.”She added, “To rejuvenate old, low-yielding orchards and expand high-density cultivation of walnuts, almonds, and pine nuts, we will support a dedicated program to enhance farmer incomes and in bringing value addition by engaging youth.”

FM Nirmala Sitharaman announced ‘Bharat Vistar’, a multilingual AI tool integrating Agristack and ICAR data, in the Union Budget 2026–27 to boost farm productivity, improve decision-making, and reduce risks for farmers.

In a significant push, Indian Finance Minister Nirmala Sitharaman announced ‘Bharat Vistar’, an AI intgrated system to access agriculture resources during the Union Budget 2026-27 presentation in the Lok Sabha on Sunday (Feb 1). The multilingual tool will integrate the Agristack portal and the ICAR package on agricultural practices with AI systems. The launch will help in enhancing productivity, enabling farmers to make better decisions, and reducing risk. “I propose to launch Bharat Vista, a multilingual AI tool that shall integrate the Agristack portal and ICAR package on agricultural practices with AI systems. This will enhance productivity, enable better decisions for farmers, and reduce risk by providing customised advisory support,” Sitharaman said. Sitharaman also announced a scheme focusing on major coconut-growing states and measures like replacing non-productive trees with new, high-yielding saplings. “To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states,” she said. The finance minister also announced programs dedicated to Indian cashew and cocoa aimed at making India self-reliant in their production and processing. “A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030,” she said. Sitharaman also said, “Sandalwood is closely linked to India’s social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem.” She added, “To rejuvenate old, low-yielding orchards and expand high-density cultivation of walnuts, almonds, and pine nuts, we will support a dedicated program to enhance farmer incomes and in bringing value addition by engaging youth.”

FM Nirmala Sitharaman announced ‘Bharat Vistar’, a multilingual AI tool integrating Agristack and ICAR data, in the Union Budget 2026–27 to boost farm productivity, improve decision-making, and reduce risks for farmers.

What is Bharat Vistar? Indian FM Sitharaman proposes multilingual AI tool for agriculture sector

Presenting India’s Union Budget 2026–27 in Parliament on Sunday (Feb 1), Finance Minister Nirmala Sitharaman made proposals on ease of doing business and tax cuts that are clearly aimed at reducing the burden on cargo handlers and those involved in export–import processes. These proposals come amid global uncertainties affecting supply chain management.&nbsp;<h2>Single window clearance for cargo</h2>As per the budget proposals, a single-window system will be introduced to handle approvals required for cargo clearance from various government agencies. This interconnected digital window for seamless processing of requests will be established by the end of the financial year.But before that, by April this year, clearance of food, drugs, plant, animal and wildlife products will be operationalised on this system. These sectors account for around 70 per cent of interdicted cargo.The new Customs Integrated System (CIS) will be rolled out over the next two years as a single, integrated and scalable platform for all customs processes.Also read: <a href="https://www.wionews.com/india-news/budget-2026-24-82-crore-indians-escaped-multidimensional-poverty-under-modi-govt-sitharaman-tells-parliament-1769926760965">Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament</a><h2>Customs duty exemptions amid tariff war</h2>The budget proposed a basic customs duty exemption on components and parts required for the manufacture of civilian, training and other aircraft.It also proposed concessional duty rates to facilitate sales by eligible manufacturing units in Special Economic Zones (SEZs) to the Domestic Tariff Area (DTA).The limit will be increased for duty-free imports of some inputs used for processing seafood products for export. &nbsp;The duty will be reduced to 1–3 per cent of the FOB (free on board) value of the previous year’s export turnover.Duty-free imports of specified inputs for the export of shoe uppers is another proposal.Also read: <a href="https://www.wionews.com/india-news/budget-2026-24-82-crore-indians-escaped-multidimensional-poverty-under-modi-govt-sitharaman-tells-parliament-1769926760965">How does Union Budget 2026 make it easier for NRIs to invest in India?</a><h2>Ease of doing business</h2>As part of ease-of-doing-business measures, the current value cap of ₹1 million per consignment on courier exports will be removed completely.Fish catch by an Indian fishing vessel in the Exclusive Economic Zone (EEZ) or on the high seas will be made duty-free too.<a href="https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed">https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed</a><h2>Energy sector to see customs duty and central excise duty easing&nbsp;</h2>Customs duty exemption will be granted for capital goods used in the manufacture of lithium-ion cells for batteries and battery energy storage systems. Capital goods required for the processing of critical minerals in India will also receive duty relief. There will also be duty exemptions on imports of goods required for nuclear power projects until 2035.

India’s Budget 2026: Amid tariff tensions, trade wars and supply chain bottlenecks, Indian finance minister announced proposals focused on easing export–import procedures, faster cargo clearances, and customs duty relief. A digital system to tackle clearances  is also on the cards

Presenting India’s Union Budget 2026–27 in Parliament on Sunday (Feb 1), Finance Minister Nirmala Sitharaman made proposals on ease of doing business and tax cuts that are clearly aimed at reducing the burden on cargo handlers and those involved in export–import processes. These proposals come amid global uncertainties affecting supply chain management. Single window clearance for cargo As per the budget proposals, a single-window system will be introduced to handle approvals required for cargo clearance from various government agencies. This interconnected digital window for seamless processing of requests will be established by the end of the financial year. But before that, by April this year, clearance of food, drugs, plant, animal and wildlife products will be operationalised on this system. These sectors account for around 70 per cent of interdicted cargo. The new Customs Integrated System (CIS) will be rolled out over the next two years as a single, integrated and scalable platform for all customs processes. Also read: Budget 2026: 24.82 crore Indians escaped multidimensional poverty under Modi govt, Sitharaman tells Parliament Customs duty exemptions amid tariff war The budget proposed a basic customs duty exemption on components and parts required for the manufacture of civilian, training and other aircraft. It also proposed concessional duty rates to facilitate sales by eligible manufacturing units in Special Economic Zones (SEZs) to the Domestic Tariff Area (DTA). The limit will be increased for duty-free imports of some inputs used for processing seafood products for export. The duty will be reduced to 1–3 per cent of the FOB (free on board) value of the previous year’s export turnover. Duty-free imports of specified inputs for the export of shoe uppers is another proposal. Also read: How does Union Budget 2026 make it easier for NRIs to invest in India? Ease of doing business As part of ease-of-doing-business measures, the current value cap of ₹1 million per consignment on courier exports will be removed completely. Fish catch by an Indian fishing vessel in the Exclusive Economic Zone (EEZ) or on the high seas will be made duty-free too. https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embed Energy sector to see customs duty and central excise duty easing Customs duty exemption will be granted for capital goods used in the manufacture of lithium-ion cells for batteries and battery energy storage systems. Capital goods required for the processing of critical minerals in India will also receive duty relief. There will also be duty exemptions on imports of goods required for nuclear power projects until 2035.

India’s Budget 2026: Amid tariff tensions, trade wars and supply chain bottlenecks, Indian finance minister announced proposals focused on easing export–import procedures, faster cargo clearances, and customs duty relief. A digital system to tackle clearances &nbsp;is also on the cards

India budget 2026: Single window customs clearance, export–import easing, cargo reforms to address supply chain issues amid global uncertainties

Over the years, Finance Minister Nirmala Sitharaman's Budget Day sarees have become a muted tradition in their own right. As she readies to present her ninth budget, let's take a look at her iconic sarees through the years.

What's the story behind FM Nirmala Sitharaman’s iconic Budget Day saree for 2026? Look at her drapes through the years | In Pics

Finance Minister Nirmala Sitharaman on Sunday announced the elimination of the basic customs duty on 17 cancer-related drugs and medicines while presenting the Union Budget 2026–27, offering significant relief to patients. She also added that seven more rare diseases will be included under customs duty relief.&nbsp;The decision is intended to make life-saving treatments more affordable and expand access to essential therapies, especially for patients who depend on imported medicines for advanced and complex cancers.&nbsp;While presenting the Budget in Parliament, Sitharaman noted that the duty waiver would help lower the prices of crucial drugs used in various cancer treatments. Imported oncology medicines currently attract basic customs duty, which substantially raises their retail cost. Removing this levy is expected to result in price reductions, easing a major financial burden for cancer patients.&nbsp;Under the proposal, personal imports of drugs, medicines and foods for special medical purposes used to treat these rare diseases will be exempt from import duties. This measure is likely to particularly help patients who require personalised or specialised therapies that are not produced domestically and are often imported on a named patient basis.&nbsp;WATCH: https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embedd<h3>Sitharaman announces 3 new All India Institute of Ayurveda</h3>Additionally, Finance Minister Sitharaman announced in the Union Budget 2026-27 to set up three new All India Institute of Ayurveda, National Institute of Pharmaceutical Education and Research. The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs.&nbsp;Underlining the economic performance of the NDA government, the Finance Minister stated that the economic trajectory of India since 2014 has been marked by stability, fiscal discipline and sustained growth.&nbsp;"The reform express is well on its way and will maintain its momentum to help us fulfil our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/budget-2026-27-finance-minister-sitharaman-announces-3-new-all-india-institute-of-ayurveda-pharmaceutical-education-and-research-1769928611206">Budget 2026–27: Finance Minister Sitharaman announces 3 new All India Institute of Ayurveda, Pharmaceutical Education and Research</a> &nbsp;

Under the proposal, personal imports of drugs, medicines and foods for special medical purposes used to treat these rare diseases will be exempt from import duties. The decision is intended to make life-saving treatments more affordable and expand access to essential therapies.

Finance Minister Nirmala Sitharaman on Sunday announced the elimination of the basic customs duty on 17 cancer-related drugs and medicines while presenting the Union Budget 2026–27, offering significant relief to patients. She also added that seven more rare diseases will be included under customs duty relief. The decision is intended to make life-saving treatments more affordable and expand access to essential therapies, especially for patients who depend on imported medicines for advanced and complex cancers. While presenting the Budget in Parliament, Sitharaman noted that the duty waiver would help lower the prices of crucial drugs used in various cancer treatments. Imported oncology medicines currently attract basic customs duty, which substantially raises their retail cost. Removing this levy is expected to result in price reductions, easing a major financial burden for cancer patients. Under the proposal, personal imports of drugs, medicines and foods for special medical purposes used to treat these rare diseases will be exempt from import duties. This measure is likely to particularly help patients who require personalised or specialised therapies that are not produced domestically and are often imported on a named patient basis. WATCH: https://www.wionews.com/videos/budget-2026-fulfilling-people-s-dreams-via-stable-growth-1769928666346/embedd Sitharaman announces 3 new All India Institute of Ayurveda Additionally, Finance Minister Sitharaman announced in the Union Budget 2026-27 to set up three new All India Institute of Ayurveda, National Institute of Pharmaceutical Education and Research. The Budget is also expected to reveal measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could protect the Indian economy from global trade frictions, which include US tariffs. Underlining the economic performance of the NDA government, the Finance Minister stated that the economic trajectory of India since 2014 has been marked by stability, fiscal discipline and sustained growth. "The reform express is well on its way and will maintain its momentum to help us fulfil our duties. Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions," said Sitharaman. Also read: Budget 2026–27: Finance Minister Sitharaman announces 3 new All India Institute of Ayurveda, Pharmaceutical Education and Research

Under the proposal, personal imports of drugs, medicines and foods for special medical purposes used to treat these rare diseases will be exempt from import duties. The decision is intended to make life-saving treatments more affordable and expand access to essential therapies.

Budget 2026–27: Customs duty removed on 17 cancer drugs, expands rare disease relief

No funding has been allocated in the Indian Budget for Iran's Chabahar port, according to the Budget papers. This is a break from the past when India allocated funding for the port.The development comes amid US pressure on Iran and sanctions worry. It is reported that India is winding down from the project amid mounting US sanction concerns.India's Union Budget for 2025-26 had allocated Rs 100 crore (£9.3m) for the development of Iran's Chabahar Port, which was revised to Rs 400 cr.The port, located on Iran's southeastern coast in the Gulf of Oman, has been a key element of New Delhi's regional connectivity strategy, forming part of the International North-South Transport Corridor. India signed a 10-year agreement with Iran in 2024 to operate the Shahid Beheshti terminal, committing investments including $120m for equipment and a $250m credit line for surrounding infrastructure. India has transferred its full committed amount of USD 120 million to the Iranian side, the last tranche being in August 2025. Currently, India has no financial commitment left for the project.&nbsp;The Chabahar project has faced external pressures, including US sanctions on Iran. Washington reimposed restrictions in 2025 but granted India a conditional waiver allowing operations to continue until April 2026. India's involvement in Chabahar dates back more than a decade, with the project seen as vital for diversifying trade routes and strengthening ties with Iran and landlocked neighbours.

The port, located on Iran's southeastern coast in the Gulf of Oman, has been a key element of New Delhi's regional connectivity strategy, forming part of the International North-South Transport Corridor.

No funding has been allocated in the Indian Budget for Iran's Chabahar port, according to the Budget papers. This is a break from the past when India allocated funding for the port. The development comes amid US pressure on Iran and sanctions worry. It is reported that India is winding down from the project amid mounting US sanction concerns. India's Union Budget for 2025-26 had allocated Rs 100 crore (£9.3m) for the development of Iran's Chabahar Port, which was revised to Rs 400 cr. The port, located on Iran's southeastern coast in the Gulf of Oman, has been a key element of New Delhi's regional connectivity strategy, forming part of the International North-South Transport Corridor. India signed a 10-year agreement with Iran in 2024 to operate the Shahid Beheshti terminal, committing investments including $120m for equipment and a $250m credit line for surrounding infrastructure. India has transferred its full committed amount of USD 120 million to the Iranian side, the last tranche being in August 2025. Currently, India has no financial commitment left for the project. The Chabahar project has faced external pressures, including US sanctions on Iran. Washington reimposed restrictions in 2025 but granted India a conditional waiver allowing operations to continue until April 2026. India's involvement in Chabahar dates back more than a decade, with the project seen as vital for diversifying trade routes and strengthening ties with Iran and landlocked neighbours.

The port, located on Iran's southeastern coast in the Gulf of Oman, has been a key element of New Delhi's regional connectivity strategy, forming part of the International North-South Transport Corridor.

No funding allocated for Chabahar port in Indian Budget 2026

Indian Finance Minister Nirmala Sitharaman on Saturday (Feb 1), in the Union Budget 2025–26, announced no change in the income tax slabs for salaried individuals. This means that “nil tax” threshold to ₹12 lakh under the new tax regime stays in place.<h2>Income Tax and the Middle Class</h2>Calling the middle class one of the core drivers of India’s growth story, Sitharaman said in her Budget speech: "Democracy, Demography and Demand are the key support pillars in our journey towards Viksit Bharat. The middle class provides strength for India’s growth. This Government, under the leadership of Prime Minister Modi, has always believed in the admirable energy and ability of the middle class in nation-building."Also read | <a href="https://www.wionews.com/india-news/budget-2026-what-changes-for-india-s-taxpayers-from-itr-deadlines-to-penalties-key-takeaways-1769927655268">Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties</a>She added that the Narendra Modi government, in recognition of this, has sought to "periodically reduce their tax burden". She pointed out that the NDA government has steadily expanded tax relief for this group, and that the “nil tax” slab has increased over the years."Right after 2014, the ‘Nil tax’ slab was raised to 2.5 lakh, which was further raised to 5 lakh in 2019 and to 7 lakh in 2023. This is reflective of our Government’s trust on the middle-class taxpayers. I am now happy to announce that there will be no income tax payable upto income of 12 lakh (i.e. average income of 1 lakh per month, other than special rate income such as capital gains) under the new regime. This limit will be 12.75 lakh for salaried taxpayers, due to the standard deduction of 75,000."Also read | <a href="https://www.wionews.com/india-news/budget-2026-fm-sitharaman-confirms-india-s-new-income-tax-act-to-take-effect-from-this-date-1769928667367">Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date</a><h2>New income tax slabs</h2>Sitharaman announced the following tax slabs, saying the changes would benefit all taxpayers. "Slabs and rates are being changed across the board to benefit all taxpayers. The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment."Revised tax rate structure as follows:<figure class="table"><table><tbody><tr><td>0-4 Lakh Rupees</td><td>Nil</td></tr><tr><td>4-8 Lakh Rupees</td><td>5 per cent</td></tr><tr><td>8-12 Lakh Rupees</td><td>10 per cent</td></tr><tr><td>12-16 Lakh Rupees</td><td>15 per cent</td></tr><tr><td>16-20 Lakh Rupees</td><td>20 per cent</td></tr><tr><td>20- 24 Lakh Rupees</td><td>25 per cent</td></tr><tr><td>Above 24 Lakh Rupees</td><td>30 per cent</td></tr></tbody></table></figure><a href="https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed">https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed</a>&nbsp;

Finance Minister Nirmala Sitharaman kept income tax slabs unchanged in Budget 2025–26, retaining the “nil tax” limit at ₹12 lakh under the new regime. Here's all you need to know.

Indian Finance Minister Nirmala Sitharaman on Saturday (Feb 1), in the Union Budget 2025–26, announced no change in the income tax slabs for salaried individuals. This means that “nil tax” threshold to ₹12 lakh under the new tax regime stays in place. Income Tax and the Middle Class Calling the middle class one of the core drivers of India’s growth story, Sitharaman said in her Budget speech: "Democracy, Demography and Demand are the key support pillars in our journey towards Viksit Bharat. The middle class provides strength for India’s growth. This Government, under the leadership of Prime Minister Modi, has always believed in the admirable energy and ability of the middle class in nation-building." Also read | Budget 2026: What changes for India's taxpayers, from ITR deadlines to penalties She added that the Narendra Modi government, in recognition of this, has sought to "periodically reduce their tax burden". She pointed out that the NDA government has steadily expanded tax relief for this group, and that the “nil tax” slab has increased over the years. "Right after 2014, the ‘Nil tax’ slab was raised to 2.5 lakh, which was further raised to 5 lakh in 2019 and to 7 lakh in 2023. This is reflective of our Government’s trust on the middle-class taxpayers. I am now happy to announce that there will be no income tax payable upto income of 12 lakh (i.e. average income of 1 lakh per month, other than special rate income such as capital gains) under the new regime. This limit will be 12.75 lakh for salaried taxpayers, due to the standard deduction of 75,000." Also read | Budget 2026: Sitharaman says new Income Tax law to take effect from THIS date New income tax slabs Sitharaman announced the following tax slabs, saying the changes would benefit all taxpayers. "Slabs and rates are being changed across the board to benefit all taxpayers. The new structure will substantially reduce the taxes of the middle class and leave more money in their hands, boosting household consumption, savings and investment." Revised tax rate structure as follows: 0-4 Lakh Rupees Nil 4-8 Lakh Rupees 5 per cent 8-12 Lakh Rupees 10 per cent 12-16 Lakh Rupees 15 per cent 16-20 Lakh Rupees 20 per cent 20- 24 Lakh Rupees 25 per cent Above 24 Lakh Rupees 30 per cent https://www.wionews.com/videos/union-budget-2026-focus-on-growth-people-s-aspirations-sabka-saath-sabka-vikas-1769926861323/embed

Finance Minister Nirmala Sitharaman kept income tax slabs unchanged in Budget 2025–26, retaining the “nil tax” limit at ₹12 lakh under the new regime. Here's all you need to know.

What Budget 2026 means for your salary: Is there a change in income tax slabs? All you need to know

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What Budget 2026 means for your salary: Is there a change in income tax slabs?