Finance Minister Nirmala Sitharaman on Sunday proposed to reduce the tax collection at source (TCS) rate to 2 per cent for education and medical purposes under Liberalised Remittance Scheme (LRS) as well as on sale of overseas tour program package.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
'If you go by the capital expenditure, this is a good defence budget. But we will have to see if the government can keep defence spending at 2 per cent or higher in 2027-2028.'
Two of the three strikes are related to the gig economy, a centrepiece of the new labour Codes.
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
Nirmala Sitharaman moved into her Kartavya Bhavan office on October 2, in time to get the work on the Budget 2026-2027 going.
The Congress party has strongly criticized the Union Budget, calling it 'lacklustre' and 'disappointing,' claiming it fails to address the needs of farmers, unemployed youth, and other key sectors.
Here are the key numbers to watch out for in the Union Budget for 2025-26:
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
Shares of brokerage-related companies nosedived 18 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed raising securities transaction tax on commodity futures to 0.05 per cent from 0.02 per cent in the Union Budget 2026-27.
'Global uncertainty is something which definitely occupies the minds of officials when we are preparing for the Budget.'
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.3% of GDP for FY27, continuing the path of fiscal consolidation. The government aims to reduce the debt-to-GDP ratio to 55.6% by BE 2026-27 and further to around 50% by March 2031.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
The Lokpal, India's anti-corruption ombudsman, has been allocated Rs 30 crore in the Union Budget 2026-27. The Central Vigilance Commission (CVC) has been allocated Rs 54.56 crore.
The first leg of the Budget session concluded with debates over the India-US trade deal and a former army chief's memoir, and will reassemble on March 9.
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
Prime Minister Narendra Modi is promoting India as a global hub for digital infrastructure and artificial intelligence, highlighting the government's incentives for data center investments and inviting the world's data to reside in India.
rediffGURUS Mihir Tanna, Vipul Bhavsar, T S Khurana, Vivek Lala and Anil Rego will answer your tax queries related to the Union Budget 2026-2o27.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
In the 15 Union Budget presentation days of the Narendra Modi government since it came to power in 2014, the BSE benchmark Sensex has ended in negative territory eight times.
Two dedicated freight corridors -- Eastern and Western -- are in operation covering several states and districts.
Benchmark stock indices Sensex and Nifty dived sharply by nearly 2 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in the Securities Transaction Tax (STT) on derivatives. Reversing the early gains, the 30-share BSE Sensex plunged sharply by 2,370.36 points or 2.88 per cent to slide below the 80,000-mark at 79,899.42 in afternoon trade as the finance minister announced a hike in STT on futures contracts to 0.05 per cent from the current 0.02 per cent.
Gold and silver prices plunged up to 9 per cent in futures trade on Sunday, hitting their lower circuit levels ahead of the Union Budget for 2026-27, as investors extended profit booking after the recent record-breaking rally.
In a move aimed at curbing the mis-selling of financial products, the Reserve Bank of India (RBI) has proposed banning incentives paid to bank staffers by third parties such as insurance companies and mutual fund houses for selling their products and services. It has also proposed that banks must ensure their user interfaces do not deploy "dark patterns" to lure customers.
After a 25 basis point rate cut in December, the RBI on Friday decided to pause on the policy rate front amid geopolitical uncertainties.
Highlights of the Economic Survey 2025-26
Gold prices are likely to trade firm next week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said.
The Union Budget 2025-26 had allocated Rs 2,33,210.68 crore (BE) to the ministry helmed by Union Home Minister Amit Shah.
The Reserve Bank of India on Friday proposed to allow banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
Finance Minister Nirmala Sitharaman on Tuesday launched the foreign currency settlement system in GIFT IFSC, which will facilitate seamless transactions on real-time basis, enhance liquidity management, and ensure compliance.
The Union Budget allocates Rs 1,492 crore for the functioning of both Houses of Parliament, with specific provisions for Lok Sabha, Rajya Sabha, and related secretariats.
Finance Minister Nirmala Sitharaman on Thursday said the country needs big and world-class banks, and discussions are on with the Reserve Bank and lenders in this regard.
Rising automobile exports are reflective of the increasing acceptance of India-manufactured vehicles across global markets, according to Economic Survey 2025-26.
Foreign Portfolio Investors (FPIs) remained in a selling mode in January, withdrawing nearly Rs 36,000 crore (about $3.97 billion) as global uncertainties persisted. Meanwhile, a higher securities transaction tax (STT) proposed in the Union Budget may weigh on overseas investor participation in the near future.
The Budget session of Parliament will be held from January 28 to April 2, featuring the President's address, the Economic Survey, and the presentation of the general Budget.
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
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