This will be Finance Minister Nirmala Sitharaman's ninth consecutive Budget and the first to fall on a Sunday in over a decade. Understanding the key measures of 2025 provides context for what industry, investors, and households expect in the forthcoming speech.

This will be Finance Minister Nirmala Sitharaman's ninth consecutive Budget and the first to fall on a Sunday in over a decade. Understanding the key measures of 2025 provides context for what industry, investors, and households expect in the forthcoming speech.

Ahead of Union Budget 2026: What changed in 2025? 9 key takeaways explained

Over the last five Union Budgets, customs duty rates and regulatory announcements have shaped how gold and silver are priced and traded in the country.

Over the last five Union Budgets, customs duty rates and regulatory announcements have shaped how gold and silver are priced and traded in the country.

Budget 2026: How customs duties have shaped gold and silver prices over the last 5 years

After Independence, the first budget of the Republic was delivered on November 26, 1947 by Finance Minister RK Shanmukham Chetty, covering just seven and a half months as it was introduced soon after Partition.

After Independence, the first budget of the Republic was delivered on November 26, 1947 by Finance Minister RK Shanmukham Chetty, covering just seven and a half months as it was introduced soon after Partition.

'Blue sheet secrets, halwa lock-in ceremony and bahi khata': Top 9 Union Budget facts that will surprise you!

Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament on Thursday (January 29), setting the stage for the Union Budget scheduled for Sunday (February 1). The upcoming Budget will be her ninth in a row, an unprecedented milestone. Traditionally released ahead of the Budget, the Economic Survey offers a glimpse of the economy and outlines the government’s assessment before policy announcements on taxation, spending, and reforms.&nbsp;Indian equity markets rebounded sharply in the latter half of Thursday’s session after a weak start, with benchmark indices recovering from intraday lows as investors responded positively to the Survey’s outlook. The document reaffirmed expectations of stable economic growth, sustained capital expenditure, and a continued emphasis on manufacturing and fiscal discipline. The BSE Sensex jumped over 900 points from its day’s low of 81,707.94 to touch an intraday high of 82,615. By 2:00 pm, the index was trading at 82,615, up 267 points or 0.33 per cent. The NSE Nifty also reclaimed lost ground, rising above 25,400 and trading at 25,433.60, up 91.55 points or 0.34 per cent.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/india-economic-survey-2026-trump-tariffs-and-global-risks-loom-despite-buoyant-domestic-consumption-1769675215936">India Economic Survey 2026: Trump tariffs and global risks loom despite buoyant domestic consumption</a>&nbsp;Markets had opened lower amid mixed global signals, with the Sensex hitting its lowest level around mid-morning and the Nifty briefly slipping below 25,200. Sentiment turned decisively positive post-noon as the Survey highlighted the government’s continued focus on infrastructure-led growth and prudent fiscal management.&nbsp;<a href="https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed">https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed</a><h2>Metal stocks lead the rally</h2>Metal stocks spearheaded the recovery, buoyed by optimism around infrastructure spending and industrial demand highlighted in the Survey. The BSE Metal index surged 2.47 per cent to scale a record high. Hindustan Copper hit a 20 per cent upper circuit, while Nalco rallied 5.75 per cent. Vedanta climbed 3.8 per cent, NMDC gained 3.79 per cent, Jindal Steel rose 3.66 per cent, and Tata Steel advanced 3.61 per cent. Broader markets also recovered from early losses, though performance remained mixed. The BSE 150 MidCap index was marginally lower by 0.05 per cent, while the BSE 250 SmallCap index continued to lag, declining close to 0.5 per cent.<h2>Rupee falls to record low</h2>The rupee fell to a record low of 92.00 against the US dollar in early trade on Thursday (January 29), pressured by persistent demand for the greenback and a cautious global sentiment. Currency market participants said the weakness followed a rebound in the dollar index from its 4.5-year lows after the US Federal Reserve left interest rates unchanged at the end of its first policy meeting of the year. On Wednesday (January 28), the rupee had already closed 31 paise lower, matching its weakest-ever closing level of 91.99 against the dollar.

Here's how stock market reacted to India Economic Survey 2026. Rupee breaches new low against US Dollar

Finance Minister Nirmala Sitharaman presented the Economic Survey in Parliament on Thursday (January 29), setting the stage for the Union Budget scheduled for Sunday (February 1). The upcoming Budget will be her ninth in a row, an unprecedented milestone. Traditionally released ahead of the Budget, the Economic Survey offers a glimpse of the economy and outlines the government’s assessment before policy announcements on taxation, spending, and reforms. Indian equity markets rebounded sharply in the latter half of Thursday’s session after a weak start, with benchmark indices recovering from intraday lows as investors responded positively to the Survey’s outlook. The document reaffirmed expectations of stable economic growth, sustained capital expenditure, and a continued emphasis on manufacturing and fiscal discipline. The BSE Sensex jumped over 900 points from its day’s low of 81,707.94 to touch an intraday high of 82,615. By 2:00 pm, the index was trading at 82,615, up 267 points or 0.33 per cent. The NSE Nifty also reclaimed lost ground, rising above 25,400 and trading at 25,433.60, up 91.55 points or 0.34 per cent. Also Read: India Economic Survey 2026: Trump tariffs and global risks loom despite buoyant domestic consumption Markets had opened lower amid mixed global signals, with the Sensex hitting its lowest level around mid-morning and the Nifty briefly slipping below 25,200. Sentiment turned decisively positive post-noon as the Survey highlighted the government’s continued focus on infrastructure-led growth and prudent fiscal management. https://www.wionews.com/videos/nepal-elections-preparations-underway-as-parties-finalise-manifestos-1769675770187/embed Metal stocks lead the rally Metal stocks spearheaded the recovery, buoyed by optimism around infrastructure spending and industrial demand highlighted in the Survey. The BSE Metal index surged 2.47 per cent to scale a record high. Hindustan Copper hit a 20 per cent upper circuit, while Nalco rallied 5.75 per cent. Vedanta climbed 3.8 per cent, NMDC gained 3.79 per cent, Jindal Steel rose 3.66 per cent, and Tata Steel advanced 3.61 per cent. Broader markets also recovered from early losses, though performance remained mixed. The BSE 150 MidCap index was marginally lower by 0.05 per cent, while the BSE 250 SmallCap index continued to lag, declining close to 0.5 per cent. Rupee falls to record low The rupee fell to a record low of 92.00 against the US dollar in early trade on Thursday (January 29), pressured by persistent demand for the greenback and a cautious global sentiment. Currency market participants said the weakness followed a rebound in the dollar index from its 4.5-year lows after the US Federal Reserve left interest rates unchanged at the end of its first policy meeting of the year. On Wednesday (January 28), the rupee had already closed 31 paise lower, matching its weakest-ever closing level of 91.99 against the dollar.

Finance Minister Nirmala Sitharaman presented the India Economic Survey 2026 on Thursday (January 29). Sensex jumped over 900 points from the day's low to close in the green

Indian Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Thursday (Jan 29), formally kicking off the countdown to the Union Budget. The Budget will be presented on Sunday, February 1, and will mark Sitharaman's ninth consecutive Budget, a record in itself. As always, the Survey comes first. It is the government’s way of laying out the state of the economy before announcing how it plans to tax, spend and reform it.<h2>The economy's report card: What is the Economic Survey?</h2>The Economic Survey is often described as India’s annual "report card". It offers a data-heavy review of how the economy performed over the past year and sets the tone for what lies ahead. While the Budget focuses on future decisions, the Survey explains the past, what worked, what did not, and where the risks lie. In practical terms, it gives policymakers and lawmakers the context behind the numbers that will appear in the Budget speech.Also read | <a href="https://www.wionews.com/india-news/budget-2026-india-is-on-reform-express-pm-modi-hails-india-eu-fta-sends-perform-and-transform-message-ahead-of-economic-survey-2026-1769664578732">PM Modi's message ahead of Economic Survey 2026: 'India is on Reform Express'</a><h2>Who prepares it</h2>The Survey is prepared by the Economic Division of the Department of Economic Affairs under the Chief Economic Adviser. It is released in two parts, each serving a different purpose. One looks forward. The other looks back.<h2>What Part 1 covers</h2>Part 1, also called Volume 1, is the big picture section. It provides a macroeconomic overview and a forward-looking assessment of the Indian economy. This is where the government lays out its narrative on growth, inflation, fiscal health and external trade.The section includes analysis of GDP growth, inflation trends using CPI and WPI, fiscal deficit levels and the balance of trade. It also flags structural issues and policy challenges, and offers recommendations on reforms needed to sustain growth. This part is meant to shape the policy mood for the year ahead.Also read | <a href="https://www.wionews.com/photos/india-budget-2026-union-budget-nirmala-sitharaman-what-is-the-halwa-ceremony-and-lock-in-period-why-was-it-skipped-in-2022-and-held-twice-in-2024-1769654226526">India Budget 2026: Halwa Ceremony, lock-in period and traditions EXPLAINED</a><h2>What Part 2 focuses on</h2>Part 2 is more granular and data-driven. It breaks down performance across individual sectors like agriculture, industry, services and infrastructure. It also looks at social indicators, including health, education, poverty and climate-related risks.This section is packed with data, charts and tables, and is often used by researchers and economists to track long-term trends.<h2>Why it matters</h2>The tabling of the Economic Survey is not just a formality. It is the final checkpoint before the Budget, giving a snapshot of where the economy stands and what pressures the government is working with. Growth numbers, inflation trends and fiscal constraints outlined here often shape the tone and limits of the Budget itself.In short, the Survey tells you how the economy is doing. The Budget tells you what the government plans to do about it. &nbsp;

Nirmala Sitharaman tables Economic Survey 2025-26 in Parliament ahead of Union Budget on Feb 1

Indian Union Finance Minister Nirmala Sitharaman tabled the Economic Survey in Parliament on Thursday (Jan 29), formally kicking off the countdown to the Union Budget. The Budget will be presented on Sunday, February 1, and will mark Sitharaman's ninth consecutive Budget, a record in itself. As always, the Survey comes first. It is the government’s way of laying out the state of the economy before announcing how it plans to tax, spend and reform it. The economy's report card: What is the Economic Survey? The Economic Survey is often described as India’s annual "report card". It offers a data-heavy review of how the economy performed over the past year and sets the tone for what lies ahead. While the Budget focuses on future decisions, the Survey explains the past, what worked, what did not, and where the risks lie. In practical terms, it gives policymakers and lawmakers the context behind the numbers that will appear in the Budget speech. Also read | PM Modi's message ahead of Economic Survey 2026: 'India is on Reform Express' Who prepares it The Survey is prepared by the Economic Division of the Department of Economic Affairs under the Chief Economic Adviser. It is released in two parts, each serving a different purpose. One looks forward. The other looks back. What Part 1 covers Part 1, also called Volume 1, is the big picture section. It provides a macroeconomic overview and a forward-looking assessment of the Indian economy. This is where the government lays out its narrative on growth, inflation, fiscal health and external trade. The section includes analysis of GDP growth, inflation trends using CPI and WPI, fiscal deficit levels and the balance of trade. It also flags structural issues and policy challenges, and offers recommendations on reforms needed to sustain growth. This part is meant to shape the policy mood for the year ahead. Also read | India Budget 2026: Halwa Ceremony, lock-in period and traditions EXPLAINED What Part 2 focuses on Part 2 is more granular and data-driven. It breaks down performance across individual sectors like agriculture, industry, services and infrastructure. It also looks at social indicators, including health, education, poverty and climate-related risks. This section is packed with data, charts and tables, and is often used by researchers and economists to track long-term trends. Why it matters The tabling of the Economic Survey is not just a formality. It is the final checkpoint before the Budget, giving a snapshot of where the economy stands and what pressures the government is working with. Growth numbers, inflation trends and fiscal constraints outlined here often shape the tone and limits of the Budget itself. In short, the Survey tells you how the economy is doing. The Budget tells you what the government plans to do about it.

Nirmala Sitharaman tables Economic Survey 2025-26 in Parliament ahead of Union Budget on Feb 1

The Cabinet Committee on Parliamentary Affairs (CCPA), chaired by Defence Minister Rajnath Singh, has approved the schedule for the upcoming Budget Session of Parliament. As per the parliamentary calendar, Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2026–27 on Sunday (February 1). This marks a rare occasion, as the Union Budget will be presented on a Sunday for the first time in recent years.&nbsp;The Budget Session of Parliament will start with the President’s address to a joint sitting on January 28. A day later, on January 29, the Economic Survey will be presented in Parliament. The session will be held in two phases. The first part will run from January 28 to February 13. The second part is scheduled from March 9 to April 2.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/delhi-high-court-issues-notice-on-pil-over-data-privacy-violations-by-digital-lending-apps-1767793924086">Delhi High Court issues notice on PIL over data privacy violations by digital lending apps</a>&nbsp;Finance Minister Nirmala Sitharaman is set to present her ninth Union Budget in a row. This will also be the 88th Union Budget since India gained Independence. Since 2017, the Union Budget has been presented at 11 am on February 1. Earlier, it was traditionally presented on February 28. The change was introduced by former finance minister Arun Jaitley to allow budget decisions to be implemented faster from the start of the new financial year.&nbsp;Presenting the budget on a weekend is not new. Sitharaman had presented the Budget in 2025 on a Saturday. Before that, Arun Jaitley had presented the Budgets of 2015 and 2016 on February 28, which also fell on Saturdays. With this, Sitharaman will make history by becoming the first finance minister to present nine consecutive Union Budgets. She will move closer to the record of former Prime Minister Morarji Desai, who presented 10 Budgets in total across two different terms.

Finance Minister Nirmala Sitharaman to present Union Budget 2026 on Sunday, Feb 1

The Cabinet Committee on Parliamentary Affairs (CCPA), chaired by Defence Minister Rajnath Singh, has approved the schedule for the upcoming Budget Session of Parliament. As per the parliamentary calendar, Finance Minister Nirmala Sitharaman is set to present the Union Budget for 2026–27 on Sunday (February 1). This marks a rare occasion, as the Union Budget will be presented on a Sunday for the first time in recent years. The Budget Session of Parliament will start with the President’s address to a joint sitting on January 28. A day later, on January 29, the Economic Survey will be presented in Parliament. The session will be held in two phases. The first part will run from January 28 to February 13. The second part is scheduled from March 9 to April 2. Also Read: Delhi High Court issues notice on PIL over data privacy violations by digital lending apps Finance Minister Nirmala Sitharaman is set to present her ninth Union Budget in a row. This will also be the 88th Union Budget since India gained Independence. Since 2017, the Union Budget has been presented at 11 am on February 1. Earlier, it was traditionally presented on February 28. The change was introduced by former finance minister Arun Jaitley to allow budget decisions to be implemented faster from the start of the new financial year. Presenting the budget on a weekend is not new. Sitharaman had presented the Budget in 2025 on a Saturday. Before that, Arun Jaitley had presented the Budgets of 2015 and 2016 on February 28, which also fell on Saturdays. With this, Sitharaman will make history by becoming the first finance minister to present nine consecutive Union Budgets. She will move closer to the record of former Prime Minister Morarji Desai, who presented 10 Budgets in total across two different terms.

CCPA has cleared Parliament’s Budget Session schedule, with Finance Minister Nirmala Sitharaman to present the 2026–27 Union Budget on Sunday, February 1

Consumer behaviour this season reflects a bullish sentiment, fuelled by GST-enabled price reductions that have lowered costs in high-ticket categories such as electronics and pushed festive demand up 23-25 per cent across metropolitan and emerging markets.


GST 2.0: E-commerce sales up 25% this festive season

In her inaugural address at the Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman said on Friday that India plays the role of a stabilizing force in the global economy. She also cautioned the masses against the risks of imbalances and volatility.&nbsp;Nirmala Sitharaman noted that the foundations of the global order are undergoing a structural transformation. She said geopolitical shifts are reshaping trade flows, alliances, and financial systems. She called the present era "turbulent".&nbsp;"The international order is morphing. Trade flows are being reshaped, alliances are being tested, investments are being rerouted along geopolitical lines, and shared commitments are being re-examined," Nirmala Sitharaman said.&nbsp;She stated that the global dominance of one power has given way to contestation and that Asian nations have been asserting alternative models of growth and governance.&nbsp;"What we face is not a temporary disruption but a structural transformation. The question is: What lies on the other side of this transformation? What will the new equilibrium look like? Who will shape it, and on what terms?" the minister said.&nbsp;She said India's growth is anchored in domestic factors, which help the country minimise external shocks.&nbsp;She said that India must strive to figure out how it can “build a global order where trade is fair, finance serves productive ends, energy is both affordable and sustainable, and climate action aligns with development imperatives.”&nbsp;She said that India's capacity to absorb shocks is strong, and the nation's economic leverage is evolving.&nbsp;"Our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty," she added.&nbsp;She also called on developing nations to actively participate in shaping global outcomes.&nbsp;"We cannot afford to be passive spectators in a world where decisions elsewhere determine our destinies. We must be active participants, shaping outcomes where possible and preserving autonomy where necessary," the minister noted.

In her inaugural address at the Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman said on Friday that India plays the role of a stabilizing force in the global economy. 

In her inaugural address at the Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman said on Friday that India plays the role of a stabilizing force in the global economy. She also cautioned the masses against the risks of imbalances and volatility. Nirmala Sitharaman noted that the foundations of the global order are undergoing a structural transformation. She said geopolitical shifts are reshaping trade flows, alliances, and financial systems. She called the present era "turbulent". "The international order is morphing. Trade flows are being reshaped, alliances are being tested, investments are being rerouted along geopolitical lines, and shared commitments are being re-examined," Nirmala Sitharaman said. She stated that the global dominance of one power has given way to contestation and that Asian nations have been asserting alternative models of growth and governance. "What we face is not a temporary disruption but a structural transformation. The question is: What lies on the other side of this transformation? What will the new equilibrium look like? Who will shape it, and on what terms?" the minister said. She said India's growth is anchored in domestic factors, which help the country minimise external shocks. She said that India must strive to figure out how it can “build a global order where trade is fair, finance serves productive ends, energy is both affordable and sustainable, and climate action aligns with development imperatives.” She said that India's capacity to absorb shocks is strong, and the nation's economic leverage is evolving. "Our choices will determine whether resilience becomes a foundation for leadership or merely a buffer against uncertainty," she added. She also called on developing nations to actively participate in shaping global outcomes. "We cannot afford to be passive spectators in a world where decisions elsewhere determine our destinies. We must be active participants, shaping outcomes where possible and preserving autonomy where necessary," the minister noted.

Nirmala Sitharaman noted that the foundations of the global order are undergoing a structural transformation.&nbsp;

'Build a global order where trade is fair': Nirmala Sitharaman lauds India's resilience

Prime Minister Narendra Modi announces a major GST reform, slashing tax rates on essential items. Starting September 22, most goods previously taxed at 12% will now fall under the 5% slab. Watch to find out how the new GST structure could impact your daily expenses.


GST Cut Benefits Not Passed On To You? Here's How To Lodge Your Complaint 



Prime Minister Narendra Modi announces a major GST reform, slashing tax rates on essential items. Starting September 22, most goods previously taxed at 12% will now fall under the 5% slab. Watch to find out how the new GST structure could impact your daily expenses.

Guide To New GST Rate Cuts: Do Consumers Always Get The  Benefit of Tax Cuts? 

Most two-wheeler buyers in India will benefit from lowered GST rates, but those looking to buy mid-to-higher capacity products will have to shell out more. And for the manufacturers, too, the GST 2.0 reforms are a mixed bag. Here's a snapshot of GST 2.0's impact on the Indian two-wheeler industry.


GST 2.0: GST shake-up for the Indian two-wheeler industry

Union Finance Minister Nirmala Sitharaman on Sep 3, addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. 

India cuts Tax rates To spur consumption 

Finance Minister Nirmala Sitharaman on Saturday (September 6) accused Opposition parties of spreading misinformation about the Goods and Services Tax (GST), insisting that the structure was not designed by the BJP alone but was the outcome of decisions taken collectively by the Empowered Committee of state finance ministers.&nbsp;She explained that the GST Council has approved a new structure that replaces the earlier four-slab system of 5%, 12%, 18% and 28% with a simplified arrangement. Going forward, most essential items will attract a 5% tax, while the majority of other goods and services will be taxed at 18%. In addition, a 40% slab has been introduced for luxury and so-called sin goods, which will take effect on September 22.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/who-is-ashwini-kumar-51-year-old-astrologer-accused-of-sending-mumbai-bomb-threats-1757156788006">Who is Ashwini Kumar, 51-year-old astrologer arrested for sending Mumbai bomb threats?</a>&nbsp;Calling the change a “reform for the people,” Sitharaman argued that rationalising tax rates will encourage consumption and ease the financial burden on households. She emphasised that the reform will touch every citizen. “GST impacts everyone, even the poorest, since it applies to small everyday purchases,” she was quoted as saying in an interview with news agency PTI.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/watch-student-slapped-abused-by-classmates-inside-amity-university-campus-fir-logged-against-5-1757156954322">WATCH: Student slapped, abused by classmates inside Amity University campus, FIR logged against 5</a>&nbsp;Sitharaman further stressed that the initiative is not merely about revising rates but also about making the system easier to navigate for businesses. She added that the government had taken extra care to examine taxes on items used in daily life, and in most cases, rates have been significantly reduced.&nbsp;On Friday (September 5), Nirmala Sitharaman announced that the government is preparing relief measures for Indian exporters hit hard by steep US tariffs. The statement comes after Washington, under President Donald Trump, imposed higher duties on Indian goods last month, partly in response to New Delhi’s continued imports of Russian crude oil. The revised tariffs, which affect categories such as garments, jewellery, footwear, and chemicals, have been raised to as high as 50%.

'Opposition misleading on GST,' says Sitharaman as government unveils new tax slabs

Finance Minister Nirmala Sitharaman on Saturday (September 6) accused Opposition parties of spreading misinformation about the Goods and Services Tax (GST), insisting that the structure was not designed by the BJP alone but was the outcome of decisions taken collectively by the Empowered Committee of state finance ministers. She explained that the GST Council has approved a new structure that replaces the earlier four-slab system of 5%, 12%, 18% and 28% with a simplified arrangement. Going forward, most essential items will attract a 5% tax, while the majority of other goods and services will be taxed at 18%. In addition, a 40% slab has been introduced for luxury and so-called sin goods, which will take effect on September 22. Also Read: Who is Ashwini Kumar, 51-year-old astrologer arrested for sending Mumbai bomb threats? Calling the change a “reform for the people,” Sitharaman argued that rationalising tax rates will encourage consumption and ease the financial burden on households. She emphasised that the reform will touch every citizen. “GST impacts everyone, even the poorest, since it applies to small everyday purchases,” she was quoted as saying in an interview with news agency PTI. Also Read: WATCH: Student slapped, abused by classmates inside Amity University campus, FIR logged against 5 Sitharaman further stressed that the initiative is not merely about revising rates but also about making the system easier to navigate for businesses. She added that the government had taken extra care to examine taxes on items used in daily life, and in most cases, rates have been significantly reduced. On Friday (September 5), Nirmala Sitharaman announced that the government is preparing relief measures for Indian exporters hit hard by steep US tariffs. The statement comes after Washington, under President Donald Trump, imposed higher duties on Indian goods last month, partly in response to New Delhi’s continued imports of Russian crude oil. The revised tariffs, which affect categories such as garments, jewellery, footwear, and chemicals, have been raised to as high as 50%.

Finance Minister Sitharaman defends GST revamp, says new 5%, 18% and 40% slabs will ease burden on families; accuses Opposition of spreading misinformation

Finance Minister Nirmala Sitharaman on Friday (September 5) said the government is working on a set of support measures for Indian exporters struggling under the weight of steep US tariffs. The announcement follows Washington’s decision last month, under President Donald Trump, to impose additional duties on Indian products. The move, tied partly to New Delhi’s continued imports of Russian crude oil, raised levies on several categories—including garments, jewellery, footwear, and chemicals—to as much as 50%.&nbsp;Also Read: <a href="https://www.wionews.com/world/fewer-jobs-more-job-seekers-us-labor-market-under-pressure-in-latest-data-1757079675332">Fewer jobs, more job seekers: US labor market under pressure in latest data</a>&nbsp;Sitharaman said the government would not let exporters “be left stranded” and hinted at targeted assistance for industries most affected. “We will be bringing forward a mechanism to support those who are facing 50% tariffs,” she was quoted as saying to CNBC TV18, noting that Cabinet approval would be required before the measures are rolled out. While exporters are seeking immediate relief, the finance minister made clear that India’s energy strategy would not change under pressure. Speaking to CNN-News18, Sitharaman reaffirmed that the country will continue buying crude oil from Russia, calling it the most viable option for India’s energy security.&nbsp;“India’s foreign exchange outflow is dominated by crude and refined fuel purchases. We will continue buying from sources that suit our economy best—and that includes Russia,” Sitharaman was quoted as saying to the news outlet. India has become the largest buyer of Russian seaborne crude since Europe and the US restricted supplies following Moscow’s 2022 invasion of Ukraine. New Delhi maintains that its purchases have played a stabilising role in global energy markets.&nbsp;Trump, however, has argued that India’s reliance on Russian oil indirectly funds the Ukraine war effort. His administration responded with punitive tariffs on Indian imports, adding pressure on bilateral trade ties even as Washington seeks India’s cooperation in efforts to end the conflict.

India's FM Nirmala Sitharaman plans relief for exporters as US tariffs bite, reaffirms Russian oil purchases

Finance Minister Nirmala Sitharaman on Friday (September 5) said the government is working on a set of support measures for Indian exporters struggling under the weight of steep US tariffs. The announcement follows Washington’s decision last month, under President Donald Trump, to impose additional duties on Indian products. The move, tied partly to New Delhi’s continued imports of Russian crude oil, raised levies on several categories—including garments, jewellery, footwear, and chemicals—to as much as 50%. Also Read: Fewer jobs, more job seekers: US labor market under pressure in latest data Sitharaman said the government would not let exporters “be left stranded” and hinted at targeted assistance for industries most affected. “We will be bringing forward a mechanism to support those who are facing 50% tariffs,” she was quoted as saying to CNBC TV18, noting that Cabinet approval would be required before the measures are rolled out. While exporters are seeking immediate relief, the finance minister made clear that India’s energy strategy would not change under pressure. Speaking to CNN-News18, Sitharaman reaffirmed that the country will continue buying crude oil from Russia, calling it the most viable option for India’s energy security. “India’s foreign exchange outflow is dominated by crude and refined fuel purchases. We will continue buying from sources that suit our economy best—and that includes Russia,” Sitharaman was quoted as saying to the news outlet. India has become the largest buyer of Russian seaborne crude since Europe and the US restricted supplies following Moscow’s 2022 invasion of Ukraine. New Delhi maintains that its purchases have played a stabilising role in global energy markets. Trump, however, has argued that India’s reliance on Russian oil indirectly funds the Ukraine war effort. His administration responded with punitive tariffs on Indian imports, adding pressure on bilateral trade ties even as Washington seeks India’s cooperation in efforts to end the conflict.

India plans relief package for exporters hit by Trump’s 50% tariffs, while reaffirming Russian oil imports as vital for energy security

Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.


New GST Reform: What Essential Products Are Cheaper And Costlier After GST Ration? | WION

the Indian government has brought more cheer to festive purchases this year, but are you still confused about whether you should order items in your cart or whether you should wait till 22 September? Don't worry here's your cheat sheet...

A consumer's guide to new GST rate slabs

Union Finance Minister Nirmala Sitharaman on Wednesday (Sep 3) addressed the media and announced that the GST Council, in its meeting, approved a two-tier structure of 5 per cent and 18 per cent, and a special tax of 40 per cent for luxury and sin goods. Sitharaman said the decision was taken unanimously and will come into effect from September 22, 2025, with the exception of tobacco products, based on certain conditions. The Council will also meet on Thursday (Sep 4). Calling it a ‘historic Diwali gift for the nation’, Sitharaman said that these next-generation GST reforms are for ease of living and to build an Aatmanirbhar Bharat.

New GST reform: What gets cheaper and what becomes costlier under new slabs? 

Discover how recent GST reductions are making education more affordable and lowering the cost of essential daily products for consumers. With taxes cut on key items, families can save more on everyday needs while also benefiting from easier access to quality education. Watch in to know more! 


GST tax reform: What students need to know about GST revision

WION explains how your next bucket of popcorn will be taxed under GST 2.0 regime

India: Finance Minister clarifies GST reforms not linked to US tariffs 

GST reform: What gets cheaper and what becomes costlier under new slabs? 

India’s GST Council has rolled out a bold 40% tax slab for super luxury and sin goods  the highest-ever GST rate. From private jets to pan masala, this move targets extravagance while easing the burden on essentials. Here’s a breakdown of what falls under this new slab, what it means for you, and how it fits into the broader GST reform to benefit the common man.

GST Reform: PM Modi Hails GST Reforms Unveiled By Finance Minister Nirmala Sitharaman

The GST Council on Wednesday approved a two-tier rate structure of 5% and 18 %, giving relief from previous complex tax structures, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The decision was taken following a long day of the GST Council meeting held in Delhi, which is set to be implemented from September 22.&nbsp;In response to the new regime, the Union Finance Minister Nirmala Sitharaman stated that every decision was taken unanimously, with no disagreement from any state. "We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess," Finance Minister Nirmala Sitharaman announced.&nbsp;“These reforms have been carried out with a focus on the common man. Every tax on the common man's daily use items has gone through a rigorous review, and in most cases, the rates have come down drastically,” she added.<h3>GST new rates 2025: Items included under 18%</h3><ul><li>Two-wheelers (bikes/scooty ≤350cc)</li><li>Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m)</li><li>Three-wheelers (autos)</li><li>Passenger vehicles (10+ seats)</li><li>Engine parts, igniGon, pumps (vehicle)</li><li>Bicycles &amp; bicycle parts</li><li>Auto Components</li><li>Home Building &amp; Materials</li><li>Cement</li><li>Marble/TraverGne blocks, Granite blocks, Sand-lime bricks</li><li>ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.)</li><li>Bamboo flooring / joinery</li><li>Packing cases &amp; pallets (wood)</li><li>Consumer Electronics &amp; Appliances</li><li>Television sets (LCD/LED) (&gt; 32’)</li><li>Monitors &amp; Projectors (non-TV</li><li>Air-condiGoners</li><li>Dishwashers</li><li>Solar water heater &amp; systems, Solar cookers</li><li>Toys, Sports &amp; Handicrafts</li><li>Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys]</li><li>Wooden/metal/texGle dolls &amp; toys (Channapatna, Thanjavur, Sawantwadi etc.)</li><li>Board games (Ludo/Carrom/Chess/Playing cards)</li><li>Sports goods other than arGcles and equipment for general physical exercise</li><li>Handicraf idols &amp; statues (wood/stone/metal) and lamps (incl. panchloga)</li><li>Brass/Copper/Aluminium artware</li><li>PainGngs, sculptures</li></ul>Also read: <a href="https://www.wionews.com/india-news/india-s-new-40-gst-hits-luxury-and-sin-goods-what-counts-as-a-sin-good-and-is-alcohol-included-full-list-inside-1756970509232">India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside</a>

After a daylong meeting in Delhi on Wednesday, the GST Council approved a two-tier tax rate structure of 5% and 18% scrapping the 12% and 28% brackets. The move leaves three brackets, including, 5%, 18% and 40.

The GST Council on Wednesday approved a two-tier rate structure of 5% and 18 %, giving relief from previous complex tax structures, scrapping the 12% and 28% brackets and leaving just three brackets, including, 5%, 18% and 40%. The decision was taken following a long day of the GST Council meeting held in Delhi, which is set to be implemented from September 22. In response to the new regime, the Union Finance Minister Nirmala Sitharaman stated that every decision was taken unanimously, with no disagreement from any state. "We've reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess," Finance Minister Nirmala Sitharaman announced. “These reforms have been carried out with a focus on the common man. Every tax on the common man's daily use items has gone through a rigorous review, and in most cases, the rates have come down drastically,” she added. GST new rates 2025: Items included under 18% Two-wheelers (bikes/scooty ≤350cc) Small cars (≤1200cc petrol / ≤1500cc diesel; ≤4m) Three-wheelers (autos) Passenger vehicles (10+ seats) Engine parts, igniGon, pumps (vehicle) Bicycles & bicycle parts Auto Components Home Building & Materials Cement Marble/TraverGne blocks, Granite blocks, Sand-lime bricks ParGcle boards from agri-waste (bagasse, rice husk, jute, sisal etc.) Bamboo flooring / joinery Packing cases & pallets (wood) Consumer Electronics & Appliances Television sets (LCD/LED) (> 32’) Monitors & Projectors (non-TV Air-condiGoners Dishwashers Solar water heater & systems, Solar cookers Toys, Sports & Handicrafts Toys like tricycles, scooters, pedal cars etc. (including parts and accessories thereof) [other than electronic toys] Wooden/metal/texGle dolls & toys (Channapatna, Thanjavur, Sawantwadi etc.) Board games (Ludo/Carrom/Chess/Playing cards) Sports goods other than arGcles and equipment for general physical exercise Handicraf idols & statues (wood/stone/metal) and lamps (incl. panchloga) Brass/Copper/Aluminium artware PainGngs, sculptures Also read: India’s new 40% GST hits luxury and sin goods: What counts as a sin good, and is alcohol included? | Full list inside

After a daylong meeting in Delhi on Wednesday, the GST Council approved a two-tier tax rate structure of 5% and 18% scrapping the 12% and 28% brackets. The move leaves three brackets, including, 5%, 18% and 40.

GST simplified: 18% rate applies to these products under new reforms — Check the surprises for you

India’s GST Council has rolled out a bold 40% tax slab for super luxury and sin goods  the highest-ever GST rate. From private jets to pan masala, this move targets extravagance while easing the burden on essentials. Here’s a breakdown of what falls under this new slab, what it means for you, and how it fits into the broader GST reform to benefit the common man.


GST Reform:  Health, Life Insurance Made Tax-free, Several Medical Essentials Made Cheaper

New GST update: Super luxury goods now heavily taxed | 40% tax slab explained! 

India’s finance minister Nirmala Sitharaman has unveiled sweeping tax cuts under the goods and services tax to boost consumption in the face of 
U.S. Tariffs. The GST council has slashed rates on more than a hundred consumer items, ranging from soaps and shampoos to small cars, air conditioners, and televisions. The rate cuts will be implemented from September 22.

India’s GST council cuts taxes on 100+ consumer items 

Finance Minister Nirmala Sitharaman has announced a major GST rate cut, approving a two-tier structure of 5% and 18%. The reform, set to be implemented from September 22, is aimed at easing the tax burden on the common man.

India's tax makeover: What gets cheaper and costlier?

Finance Minister Nirmala Sitharaman has announced a major GST rate cut, approving a two-tier structure of 5% and 18%. The reform, set to be implemented from September 22, is aimed at easing the tax burden on the common man.


Big GST Reforms:  Nirmala Sitharaman Announces Reduced GST Rates For These Items

GST Reforms: What Gets Cheaper And What Becomes Costlier Under New Slabs? 

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified&nbsp;that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. The GST reform came weeks after Donald Trump imposed 50 per cent tariffs on Indian exports to the United States over New Delhi's oil and weapons trade with Russia.<h2>What Nirmala Sitharaman said</h2>Nirmala Sitharaman today announced the GST Council's decision to eliminate the 12 per cent and 28 per cent GST slabs. Most of the items in these two slabs will be put into the 5 per cent and 16 per cent slabs, she added.&nbsp;The Finance Minister further said that the "tariff turmoil" didn't influence the GST reform. She said the Group of Ministers had been working on rate rationalising for several months.&nbsp;"The tariff turmoil is not a matter that influenced the GST reform. Because we've been at it now for more than one and a half years. A group of ministers was working on rate rationalisation. Another group of ministers, a bit later, was working on insurance and related matters. And compensation cess was a reality – it is going to end the moment you pay back the loan. None of this has anything to do with the tariffs," she said at a press conference after the GST Council meeting.&nbsp;<a href="https://www.wionews.com/india-news/gst-reforms-approved-what-gets-cheaper-and-costlier-from-september-22-1756918983245">Also read: GST Reforms approved: What gets cheaper and costlier from September 22 - FULL LIST here</a><h2>Donald Trump continues his tirade</h2>Meanwhile, Donald Trump continued his tirade against India, saying secondary sanctions on India were a direct action against Russia.&nbsp;Donald Trump further mentioned that these steps amounted to direct action against Russia, as they target its oil exports through major buyers.&nbsp;"Would you say that putting secondary sanctions on India, the largest purchaser outside China, they are almost equal. Would you say there was no action? That cost hundreds of billions of dollars to Russia, you call that no action? I haven't done Phase-2 yet or Phase-3," Donald Trump told reporters.&nbsp;Earlier this month, Donald Trump said India had offered him a no-tariff deal.

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. 

Union Finance Minister Nirmala Sitharaman on Wednesday night clarified that the Centre's Goods and Services Tax (GST) reform push wasn't linked to what she described as the “tariff turmoil”. The GST reform came weeks after Donald Trump imposed 50 per cent tariffs on Indian exports to the United States over New Delhi's oil and weapons trade with Russia. What Nirmala Sitharaman said Nirmala Sitharaman today announced the GST Council's decision to eliminate the 12 per cent and 28 per cent GST slabs. Most of the items in these two slabs will be put into the 5 per cent and 16 per cent slabs, she added. The Finance Minister further said that the "tariff turmoil" didn't influence the GST reform. She said the Group of Ministers had been working on rate rationalising for several months. "The tariff turmoil is not a matter that influenced the GST reform. Because we've been at it now for more than one and a half years. A group of ministers was working on rate rationalisation. Another group of ministers, a bit later, was working on insurance and related matters. And compensation cess was a reality – it is going to end the moment you pay back the loan. None of this has anything to do with the tariffs," she said at a press conference after the GST Council meeting. Also read: GST Reforms approved: What gets cheaper and costlier from September 22 - FULL LIST here Donald Trump continues his tirade Meanwhile, Donald Trump continued his tirade against India, saying secondary sanctions on India were a direct action against Russia. Donald Trump further mentioned that these steps amounted to direct action against Russia, as they target its oil exports through major buyers. "Would you say that putting secondary sanctions on India, the largest purchaser outside China, they are almost equal. Would you say there was no action? That cost hundreds of billions of dollars to Russia, you call that no action? I haven't done Phase-2 yet or Phase-3," Donald Trump told reporters. Earlier this month, Donald Trump said India had offered him a no-tariff deal.

GST reform: US President Donald Trump has imposed tariffs on India for buying Russian oil and weapons. Nirmala Sitharaman said that the reforms were being planned for several months.&nbsp;

Did 'tariff turmoil' prompt Centre's mega GST reform? Nirmala Sitharaman's clarification

Breaking: Indian government announces major tax cuts, goods get cheaper before Diwali 