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PART-A Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Union Budget 2026-27 in the parliament today. The highlights of the budget are as follows: The first Budget prepared in Kartavya Bhawan, is inspired by 3 kartavyas: First kartavya is to accelerate and su
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The three core principles are to accelerate and sustain economic growth, fulfil people's aspirations and build their capacity, and ensure inclusive development aligned with the vision of Sabka Sath, Sabka Vikas.
The fiscal deficit in the Budget Estimates (BE) for 2026-27 is estimated to be 4.3 percent of GDP.
Key initiatives include scaling up manufacturing in strategic sectors, launching the Biopharma SHAKTI programme, India Semiconductor Mission 2.0, increasing the outlay for the Electronics Components Manufacturing Scheme, establishing Rare Earth Corridors, and supporting the creation of dedicated Chemical Parks.
Public capital expenditure is increased to Rs 12.2 lakh crore. The budget also proposes setting up an Infrastructure Risk Guarantee Fund, accelerating the recycling of CPSE real estate assets through REITs, establishing new Dedicated Freight Corridors, and operationalising new National Waterways.
The budget introduces a new Income Tax Act, 2025, with simplified rules. It includes measures like exempting interest awarded by the Motor Accident Claims Tribunal, rationalising TCS rates, simplifying TDS provisions, and extending the time for revising returns. It also proposes changes to penalty and prosecution frameworks and offers exemptions for certain IT services and foreign companies.
The budget announces an Integrated Programme for the Textile Sector, including a National Fibre Scheme for self-reliance in natural and man-made fibres, and a Textile Expansion and Employment Scheme for modernising traditional clusters. Mega Textile Parks will also be set up in challenge mode.
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