Union Budget 2026 Live: Sitharaman Presents Budget, Pitches Inclusive Growth and Opportunity for All

The Union Budget 2026 will be announced on February 1 amid a shift in global trade and rising pressure on India’s export strategy. The government heads into Budget Day after clinching a long-awaited trade deal with the European Union, pitched as a major win for market access and manufacturing. 

At the same time, unresolved US tariffs continue to weigh on key Indian exports, keeping bilateral negotiations in focus. As geopolitical tensions reshape supply chains, the budget must respond at home. We will track pre-budget signals, trade cues, and policy moves shaping the final playbook.

Budget Day Trading: Discipline Over Drama on February 1

Markets brace for sharp volatility as the Union Budget announcement draws closer. Discipline matters more than direction. Traders may benefit from patience, defined-risk strategies, and letting uncertainty fade rather than reacting to every headline.

Ahead of Union Budget 2026, India’s crypto industry is urging the government to ease the 1% TDS and 30% VDA tax, arguing that high levies drain liquidity, push traders offshore, and weaken India’s regulated crypto ecosystem.

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Ahead of the Union Budget on February 1, infrastructure spending is expected to exceed Rs 12 lakh crore in FY27, up nearly 10%. The government aims to sustain growth through roads, railways, energy, and digital projects despite global risks.

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Indian stock markets will stay open on Sunday, February 1, for the Union Budget 2026. MSEI, along with BSE and NSE, will allow live trading from 9:15 am, enabling real-time market reaction to Budget announcements.

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With the Union Budget set for February 1, taxpayers are tracking possible income tax changes. The new tax regime remains the default for FY 2025–26, offering lower rates with fewer exemptions, while limited flexibility to opt for the old regime continues.

Ahead of the Union Budget on February 1, salaried and middle-class taxpayers are hoping for further income tax relief. While the new tax regime remains dominant, expectations centre on higher standard deductions, TDS rationalisation, and simpler slabs rather than major structural changes.

Ahead of Budget 2026, defence stocks are in focus amid expectations of higher capital outlay and stronger domestic procurement. Increased spending on aircraft, missiles, electronics, and naval platforms could accelerate order inflows for key Indian defence manufacturers.

Finance Minister Nirmala Sitharaman will present her ninth consecutive Union Budget on February 1, bringing her closer to Morarji Desai’s record of ten budgets. Her tenure already surpasses several former finance ministers, marking a rare run of continuity.

As FM Nirmala Sitharaman prepares to present her ninth consecutive Budget, attention turns to her symbolic Budget Day sarees, which consistently showcase Indian handlooms, regional crafts and colours that reflect economic mood, cultural pride and the government’s ‘Vocal for Local’ push.

Budget 2026 confronts weak nominal GDP growth, falling tax buoyancy, and sluggish private investment. These pressures limit fiscal flexibility, forcing tough trade-offs between spending and borrowing as the government balances growth support with fiscal discipline amid constrained revenues.

Ahead of Budget 2026, the focus is on boosting education, research, and innovation to support Viksit Bharat. Higher investment in design education, applied research, and industry-academia collaboration is seen as key to closing skill gaps and driving inclusive, long-term economic growth.

With strong GDP and controlled inflation, the Union Budget 2026 can now prioritise supply-side improvements, reducing trade frictions and boosting manufacturing. Expanding support for MSMEs, improving competitiveness, and restoring investor confidence are seen as key priorities for economic resilience and growth.

Ahead of Union Budget 2026, the Congress criticised the government over poor policy coordination, warning that Budget numbers may need quick revisions due to upcoming changes in GDP, CPI and WPI series, creating uncertainty for states and fiscal planning.

As Budget 2026 nears, experts flag risks of higher smartphone prices due to costlier chipsets, AI-driven demand and supply-chain pressures. Industry seeks GST and customs duty cuts plus incentives for local component manufacturing to absorb costs and keep devices affordable.

With Budget 2026 expected to lift infrastructure capex by 10–15% to Rs 12–12.5 lakh crore, experts see strong tailwinds for L&T, NBCC, IRB Infrastructure, Interarch Building Solutions and HCC as government spending, project monetisation and new pipelines drive long-term growth.

Ahead of Budget 2026-27, auto industry experts call for stability over disruption—seeking tax relief to boost demand, sustained infrastructure spending, EV policy clarity, localisation of high-value components, and stronger support for MSME suppliers to cut costs, reduce uncertainty, and drive long-term competitiveness.

Ahead of Budget 2026, businesses seek indirect tax reforms to improve ease of doing business, calling for smoother GST credit flows, export clarity for services, simpler compliance, MSME relief, faster customs dispute resolution, predictable SEZ duties, and a less punitive enforcement approach to cut costs and unlock growth.

Budget 2026 is expected to raise standard deduction, simplify income tax and TDS, rationalise customs duties, support MSMEs, boost defence and infrastructure spending, fund critical minerals, devolve taxes to states, and balance growth priorities with fiscal discipline.

The Budget is expected to prioritise income tax relief, higher standard deduction, GST and TDS simplification, sustained infrastructure capex, MSME support, defence spending, critical minerals funding, and clearer transition rules for the new Income Tax Act to boost growth and confidence.

Industry leaders urge the Union Budget 2026 to prioritise large-scale skilling and deep-tech investment, boosting AI, semiconductors, quantum and high-value R&D, to build future talent, foster innovation, and position India as a global tech powerhouse by 2030.

Finance Minister Nirmala Sitharaman reached Parliament on Sunday morning to present her ninth consecutive Union Budget. Expectations centre on growth-oriented spending, fiscal discipline, tax clarity and job creation as markets, industry and households track policy signals from Budget 2026.

Union Finance Minister Nirmala Sitharaman, accompanied by MoS Pankaj Chaudhary, called on Droupadi Murmu at Rashtrapati Bhavan. The President conveyed her best wishes ahead of the Union Budget presentation.

On Union Budget 2026–27, Ramnath Thakur said it was a moment of pride that Nirmala Sitharaman is presenting the Budget for the ninth time, adding that the Opposition’s role seems limited to opposing.

Union Finance Minister Nirmala Sitharaman, along with her team, calls on President Droupadi Murmu before presenting her ninth consecutive Union Budget. ANI

On Union Budget 2026–27, Manoj Tiwari said he has positive expectations from the Budget and expressed hope that its announcements will leave the country satisfied and optimistic about the economic direction. ANI

On Union Budget 2026-27 expectations, DMK MP Kanimozhi says," They have to give a lot of funds to Tamil Nadu, at least due to elections close now." ANI

On Union Budget 2026-27, BJP MP Baijayant Panda says, "If you see from the past 11 years, the Opposition has been saying only one thing. Today, India has the lowest inflation rate in the world. Our economy ranks fourth in the world. It is the fastest-growing economy. I congratulate Nirmala Sitharaman ji for presenting her record ninth Budget today." ANI

As he arrives at the Parliament, TMC MP Abhishek Banerjee says, "Let us hear the Budget. I can't talk of my expectations or any other comments without listening the Budget." ANI

Facing global trade disruptions, India will pursue Viksit Bharat through inclusive growth, deeper global integration, exports and long-term investment.

Our aim is to transform aspiration into achievement and potential into performance, while ensuring that the dividends of growth reach every farmer, the Scheduled Castes and Scheduled Tribes, the nomads, the youth, the poor and women, says @nsitharaman

High-tech toolrooms to manufacture high-precision components at scale and lower cost. A new scheme for upgrading construction & infrastructure equipment will strengthen production of high-value CIE. Propose Rs. 10,000 crore over 5 years for container manufacturing, says FM Sitharaman.

Highlighting India’s shift towards non-communicable diseases like diabetes, Finance Minister Nirmala Sitharaman proposes Biopharma Shakti with an outlay of Rs 10,000 crore over five years to develop India as a global biopharma manufacturing hub.

The Centre will support Odisha, Kerala, Andhra Pradesh and Tamil Nadu in setting up rare earth corridors, focusing on mining, processing, research and manufacturing to strengthen domestic supply chains and reduce import dependence.

Union FM Nirmala Sitharaman says, "I propose setting up a high-level committee on banking for Viksit Bharat to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection." ANI

Union FM Nirmala Sitharaman says, "In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri." ANI

Finance Minister proposes raising public capital expenditure to Rs 12.2 lakh crore in 2026-27 to drive growth and infrastructure creation.

Shiromani Akali Dal MP Harsimrat Kaur Badal said Punjab expects meaningful attention in Union Budget 2026, including a legal MSP guarantee for farmers, noting the state’s absence in recent budgets. ANI

Finance Minister Nirmala Sitharaman announced a three-pronged plan to create champion MSMEs, including a Rs 10,000 crore SME Growth Fund, a Rs 2,000 crore top-up to the Self-Reliant India Fund, and liquidity support via the TREDS platform, alongside short-term courses to train Corporate Mitras. SansadTV

To scale up manufacturing in strategic and frontier sectors

Union Finance Minister proposed to launch:   

• Biopharma SHAKTI 

• India Semiconductor Mission (ISM) 2.0 

• Dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu  

• 3 dedicated Chemical Parks  

Union Minister Bhagirath Choudhary said Union Budget 2026 will benefit farmers and support overall development, highlighting increased MSP for Kharif and Rabi crops and improved conditions in the agriculture sector under Prime Minister Narendra Modi’s leadership.

On Direct Taxes, Union Finance Minister Nirmala Sitharaman says,"...I propose to reduce TCS rate on sale of overseas tour program packages from current 5% and 20% to 2% without any stipulation of amount. I propose to reduce the TCS rate for pursuing  education and medical purposes under the liberalised remittance scheme from 5% to 2%..." ANI

Union Finance Minister Nirmala Sitharaman proposed increasing the duty-free import limit for specified inputs used in seafood exports from 1% to 3% of FOB value of the previous year’s exports. She also extended duty-free input benefits to exports of shoe uppers, widening support for the footwear sector.

Union FM Nirmala Sitharaman says, “To support Indian fishermen to fully harness the economic value of marine resources beyond our territorial waters, the following measures will be taken:

• Fish catch by an Indian fishing vessel in the exclusive economic zone or on the high seas will be made free of duty

• Landing of such fish on a foreign port will be treated as export of goods, safeguards will be put in place to prevent misuse during fish catch, transit or transhipment.”

The Ministry of Defence has been allocated Rs 7.8 lakh crore in the Union Budget 2026-27, with Rs. 2.19 lakh crore earmarked for modernisation of the armed forces. Major projects in the pipeline include contracts for Rafale fighter jets, submarines and unmanned aerial vehicles, signalling a continued push for capability enhancement. ANI

IMC Chamber of Commerce and Industry Deputy Director General Sheetal Kalro welcomed Union Budget 2026, citing continuity in flagship schemes, stronger emphasis on youth and skilling, and a positive outlook for sustained economic growth and progress.

Union Finance Minister Nirmala Sitharaman said India’s software development, IT-enabled services, KPO and contract R&D services will be clubbed under a single “Information Technology Services” category, with a common safe harbour margin of 15.5%, simplifying tax compliance for the sector.

Union Finance Minister Nirmala Sitharaman announced exemption of basic customs duty on 17 drugs and medicines, with a focus on cancer treatment. She also proposed adding seven more rare diseases to the list eligible for duty-free personal imports of drugs, medicines and special medical foods, easing costs for patients.

Senior BJP leaders, including National General Secretary Vinod Tawde, Kerala BJP president Rajeev Chandrasekhar, and party leader V Muraleedharan, watched the presentation of Union Budget 2026 at the BJP office in Thiruvananthapuram.

Congress MP Shashi Tharoor reacted to the market fall after the Union Budget presentation, saying the reaction signals disappointment and questioning whether the government can take comfort when markets respond negatively.

Union Finance Minister Nirmala Sitharaman proposed extending the deadline for revising returns to 31 March with a nominal fee and staggering ITR filing timelines, allowing non-audit business cases and trusts to file till 31 August, while ITR-1 and ITR-2 filers continue with the 31 July deadline.

Union Finance Minister Nirmala Sitharaman said the fiscal deficit is projected at 4.4% of GDP in FY2026-27, with a further consolidation planned to 4.3% of GDP in FY2027, signalling continued focus on fiscal discipline.

Union Finance Minister Nirmala Sitharaman proposed an automated, rule-based system for issuing lower or nil TDS certificates to small taxpayers, removing the need to approach assessing officers. Depositories will also be allowed to collect Form 15G/15H and share them with relevant companies, easing compliance for investors.

Union Finance Minister Nirmala Sitharaman said India’s debt-to-GDP ratio is estimated at 55.6% of GDP in FY2026-27, underscoring the government’s focus on gradual fiscal consolidation while supporting growth.

Union Finance Minister Nirmala Sitharaman said the government has accepted the 16th Finance Commission’s recommendation to retain the 41% vertical devolution to states and has allocated Rs 1.4 lakh crore for states in FY2026-27, reaffirming fiscal support to state governments.

Union Finance Minister Nirmala Sitharaman announced that interest awarded by Motor Accident Claims Tribunals to natural persons will be exempt from income tax. The government will also remove TDS on such interest, ensuring full and timely compensation reaches accident victims without tax deductions.

Union Finance Minister Nirmala Sitharaman announced plans to develop ecologically sustainable mountain trails in Himachal Pradesh, Uttarakhand, Jammu & Kashmir, the Araku Valley, and the Western Ghats, along with turtle trails at major nesting sites in Odisha, Karnataka and Kerala to promote conservation-led tourism.

Union Finance Minister Nirmala Sitharaman announced plans to set up three new All India Institutes of Ayurveda, upgrade Ayush pharmacies and drug testing laboratories to boost skilled manpower, and strengthen the WHO Global Traditional Medicine Centre in Jamnagar, signalling a renewed focus on traditional healthcare systems.

Union Finance Minister Nirmala Sitharaman announced a scheme to support states in setting up five regional medical tourism hubs, aimed at positioning India as a global destination for affordable, high-quality healthcare.

Congress MP Amar Singh accused the Centre of being partial towards Punjab, misusing its parliamentary majority, and ending MGNREGA, saying the move has hurt labourers and exposed the government’s disregard for welfare and federal balance.

Union Finance Minister Nirmala Sitharaman proposed a special one-time measure allowing eligible manufacturing units in Special Economic Zones (SEZs) to sell goods in the domestic tariff area at concessional duty rates, with such sales capped at a prescribed proportion of their export volumes.

Union Finance Minister Nirmala Sitharaman proposed exempting basic customs duty on raw materials imported for manufacturing aircraft parts used in maintenance, repair and overhaul (MRO) activities by defence sector units, aiming to strengthen domestic defence manufacturing and reduce costs.

Former FICCI President Naina Lal Kidwai said India should stay on the fiscal glide path while allowing some flexibility to sustain infrastructure spending and boost demand. She noted that unless consumption rises, private sector capital expenditure will remain subdued, with capacity utilisation still around 75% or lower.

Union Finance Minister Nirmala Sitharaman proposed extending the basic customs duty exemption on imports required for nuclear power projects till 2035, and expanding the benefit to all nuclear plants regardless of capacity, to support long-term clean energy expansion.

Union Finance Minister Nirmala Sitharaman proposed extending basic customs duty exemption on capital goods used for manufacturing lithium-ion cells to include battery energy storage systems, and exempting duty on sodium antimonate imports used in solar glass manufacturing, boosting clean energy and domestic manufacturing.

In the Union Budget 2026-27, Finance Minister Nirmala Sitharaman proposed a Coconut Promotion Scheme to enhance production and productivity in major coconut-growing states by replacing non-productive trees with improved varieties. She also announced dedicated programmes for cashew and cocoa to make India self-reliant in raw material production and processing, improve export competitiveness, and position these crops as premium global brands by 2030. Support for other high-value crop, such as sandalwood, walnuts, almonds and pine nuts, will also be provided to diversify farm output and boost rural incomes.

Union Finance Minister Nirmala Sitharaman announced a comprehensive review of the Foreign Exchange Management (Non-Debt Instruments) Rules, aiming to modernise the framework for foreign investments and align it with India’s evolving economic priorities.

Senior Congress leader Jairam Ramesh described the Union Budget 2026-27 as ‘completely insipid,’ arguing it lacks bold action to tackle key economic challenges. He also raised concerns about coordination gaps in policymaking and potential revisions to fiscal numbers once updated data is released later this month.

Union Finance Minister Nirmala Sitharaman proposed a major push for India’s “Orange Economy”, announcing support for the Indian Institute of Creative Technologies to set up AVGC (Animation, Visual Effects, Gaming and Comics) content creator labs in 15,000 secondary schools and 500 colleges across the country. The initiative aims to nurture creative talent and build a future-ready workforce for an industry projected to require 2 million professionals by 2030, aligning education with employment opportunities in the fast-growing creative sectors.

In Budget 2026-27, Union Finance Minister Nirmala Sitharaman unveiled plans to establish NIMHANS 2.0 in North India to expand advanced mental health care and research. She also announced customs duty exemptions on select cancer drugs, aimed at reducing treatment costs for patients and improving access to critical medicines.

BJP MP Baijayant Panda said Union Budget 2026 marks a shift in momentum, building on ongoing efforts to generate employment, reduce inflation, and strengthen India’s position as the world’s fastest-growing large economy.

Union Minister Chirag Paswan said the Union Budget places strong emphasis on infrastructure, rural development, urbanisation and self-reliance, adding that it sets a solid foundation for building a developed India in the years ahead.

Defence Minister Rajnath Singh said Budget 2026 meets public expectations, allocates Rs 7.85 lakh crore for defence, prioritises modernisation with Rs 2.19 lakh crore capital outlay, and balances security, development and self-reliance.

Union Minister Ashwini Vaishnaw welcomed the Union Budget, citing strong focus on manufacturing, simplified IT and semiconductor policies, tax holiday for data centres, 20 lakh jobs in the orange economy, seven new high-speed rail corridors, a southern rail triangle, and a new dedicated freight corridor to drive growth, jobs and Viksit Bharat.

TMC MP Shatrughan Sinha slammed the Union Budget, calling it misleading and unworthy of rating. He said it fails to address employment, rising debt, farmers’ welfare, and pending dues owed by the Centre to several states.

Union Minister Kiren Rijiju said Union Budget 2026-27 represents a “Reform Express” towards Viksit Bharat, focused on growth and development for the common man, and criticised the Opposition for opposing the Budget for political reasons rather than public interest.

Congress MP KC Venugopal slammed Union Budget 2026, calling it a disappointment for Kerala. He flagged the absence of AIIMS and accused the Centre of favouring big corporates while ignoring ordinary citizens and state-specific needs.

Samajwadi Party MP Dimple Yadav criticised Union Budget 2026 as hollow and jargon-heavy, saying it offers nothing for women, youth, farmers, health, education or production, and remains disconnected from the needs of ordinary citizens.

Union Minister Piyush Goyal said the middle class remains satisfied after last year’s tax relief. He backed Budget 2026’s focus on manufacturing, skills and exports, and said the market dip from higher STT is temporary and will reverse soon.

Cigarette prices have shot up sharply after the Union Budget 2026 imposed a steep increase in excise duty and a 40% GST. Some brands are now retailing at ₹55 per pack, marking one of the biggest jumps in recent years. The government says the move is aimed at discouraging tobacco consumption and boosting revenue, but smokers and retailers are feeling the pinch. Industry experts warn that this could drive demand for cheaper, unregulated alternatives, reshaping the tobacco market in India.

The Union Budget 2026 has tightened the tax framework for Sovereign Gold Bonds. From April 1, only original subscribers who hold their bonds till maturity will enjoy tax-free capital gains. Investors purchasing SGBs from the secondary market will now face full capital gains tax at redemption. This move is aimed at promoting long-term investment over trading, but it could significantly impact premiums in the secondary market. Stay tuned as we break down what this means for your gold investment strategy.

The Union Budget 2026 has introduced a major change in the buyback tax structure. Instead of companies paying tax on buybacks, shareholders will now be taxed on the gains they receive. This move is expected to encourage more firms to announce buybacks, but retail investors may see reduced net returns. Analysts believe the change could reshape corporate capital allocation strategies while altering investor sentiment around buyback announcements. Stay tuned for expert insights and sector-wise impact.

The Infrastructure Risk Guarantee Fund (IRGF) has been introduced to boost private sector participation in large-scale projects. The fund will provide guarantees to reduce risk exposure for lenders and investors, making financing smoother for roads, railways, and energy ventures. By cushioning potential losses, the IRGF aims to unlock billions in private capital for India’s infrastructure push. Analysts see this as a game-changer in bridging the investment gap and accelerating long-term growth.

Union Budget 2026–27 is structured around three Kartavyas—driving economic growth through manufacturing and infrastructure, building human capital via education and skills, and ensuring inclusive development focused on farmers, vulnerable groups, and lagging regions.

Union Budget 2026–27 prioritises producers over consumers, cutting duties on cancer drugs, sports goods, EV and solar inputs, while raising costs for trading, video games, coffee machines and alcohol, betting on long-term manufacturing growth over immediate middle-class relief.

UP CM Yogi Adityanath hailed Budget 2026 for reform, growth and fiscal discipline, saying the Rs 10,000 crore MSME allocation will strengthen Uttar Pradesh’s ODOP-driven MSME sector, boost exports, and create jobs, aligning the state with India’s long-term development vision.

BJD MP Sasmit Patra criticised Union Budget 2026, alleging Odisha was excluded from high-speed rail and industrial corridors, reduced to mineral transport and sector-specific projects, offering little relief to farmers, tribals, or youth.

SP chief Akhilesh Yadav criticised Union Budget 2026, linking it to the Sensex fall and questioning land acquisition for the UP defence corridor. He alleged the Budget favours “invisible friends” of the BJP, not the public. On Pakistan’s T20 World Cup boycott threat, he urged a rethink of India’s foreign policy direction.

DRDO Chairman Samir V Kamat welcomed Union Budget 2026, calling it highly positive for defence. Capital outlay for indigenous systems rose to Rs 1.39 lakh crore, while total defence capital spending touched Rs 2.19 lakh crore. DRDO’s capital budget increased 15.6%, supporting new technologies and homegrown systems.

Political secretary to BJD chief Naveen Patnaik, Santrupt Misra said the party president’s budget remarks reflect the sentiments of Odisha’s people. He endorsed the critique, arguing the Union Budget should have better addressed Odisha’s needs and economic opportunities, and given the state greater consideration in national planning.

Union Budget 2026–27 raises higher education spending to Rs 78,496 crore, with steady growth in net allocations, sharper funding for research, AI centres and apprenticeships, while teacher training and school education bodies also see sustained increases.

Union Budget 2026 proposes developing 15 archaeological sites into experiential cultural destinations under a new DESH scheme, expanding a 2020 initiative to boost heritage tourism, local jobs, and regional economies through curated infrastructure and storytelling.

ICMR Director-General Rajiv Bahl said Union Budget 2026–27 takes major steps to fix long-standing gaps in India’s pharma sector. Measures such as the Rs 10,000 crore Biopharma Shakti push, regulatory strengthening, expanded clinical trials, and duty relief on key medicines aim to boost innovation, manufacturing capacity, and patient access.

Union Budget 2026–27 positions Ayush as a key pillar of integrative healthcare, with plans for three new All India Institutes of Ayurveda, upgraded pharmacies and labs, skill training for caregivers, and stronger medical tourism. Ayush Minister Prataprao Jadhav said the measures institutionalise traditional medicine within India’s national health strategy.