The Union Cabinet headed by Prime Minister Narendra Modi on Sunday approved the Union Budget 2026-27.
Infographics break down the key numbers and decisions, making it quick and easy to understand what the Budget means for the economy.
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.
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.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
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.
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.
The Union Cabinet headed by Prime Minister Narendra Modi on Tuesday approved the full Budget for 2024-25, sources said.
This is the second Budget of the BJP-led NDA government in its third term in office.
Finance Minister Nirmala Sitharaman will present her 8th straight Budget and all eyes will be on the much-expected tax relief for the middle class. Sitharaman had in her first Budget in 2019 replaced the leather briefcase -- which had been in use for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth.
A PL Capital report projects India's LPG subsidy bill to exceed Rs 1 lakh crore in FY27, creating a significant Rs 70,000 crore gap over the Union Budget's Rs 30,000 crore allocation, driven by the government and OMCs absorbing higher fuel and LPG price increases.
Finance Minister Nirmala Sitharaman on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former prime minister Morarji Desai. This is the first Budget during Prime Minister Narendra Modi-led government's third term in office.
Finance Minister Nirmala Sitharaman on February 1 will present a record eighth consecutive budget that is expected to contain measures to shore up weakening economic growth and ease the burden on the middle class struggling with high prices and stagnant wage growth while being fiscally prudent.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
Both Houses of Parliament were adjourned sine die, concluding a Budget session marked by the passage of key legislations and the defeat of a Constitution amendment bill on women's reservation. The session saw frequent opposition protests and discussions on various issues, including the West Asia conflict.
The Finance Ministry's expenditure department has approved a substantial Rs 1.25 lakh crore outlay for India Semiconductor Mission 2.0, significantly increasing the country's investment in global chip-making ambitions and aiming to establish India as a major semiconductor hub.
Chief Economic Adviser V Anantha Nageswaran has urged the industry to invest in skilling, capability development, and innovation to counter the challenges posed by artificial intelligence, particularly for Global Capability Centres (GCCs). He noted that while the government has supported GCCs through Budget measures like simplifying transfer pricing and promoting expansion into tier-II/III cities, industry must move beyond low-cost execution to thrive in an an AI-driven landscape. Nageswaran emphasised that AI displaces routine tasks, necessitating a focus on higher-value work and continuous skill enhancement to maintain India's competitive edge.
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 conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
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 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.
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.
Nirmala Sitharaman presents the National Democratic Alliance government's budget amid high hopes and expectations from across the spectrum of society -- from farmers to industralist. Will the Budget fulfill the expectations of all?
In the throes of a financial crisis, the state's ruling Congress government has little to be triumphant about as Assembly elections approach next year, points out Aditi Phadnis.
Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget, focusing on investments and growth. The speech was marked by its business-like approach and lack of cultural references, while opposition members raised concerns about regional representation.
A Joint Committee of Parliament has deferred the adoption of a draft report on a bill proposing the suspension, not permanent removal, of the prime minister, Union ministers, and chief ministers if detained for 30 days on serious criminal charges, opting for more consultations.
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
The Opposition on Tuesday termed the Union Budget as a 'kursi bachao budget' driven by political compulsions and claimed that it ignored opposition-ruled states in a bid to 'appease' Bharatiya Janata Party's allies.
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.
This year's Economic Survey and the Union Budget were more closely followed for more reasons than one.
Nirmala Sitharaman will present the budget of the second term of the Narendra Modi government today.
What items did Indian Finance Minister Nirmala Sitharaman make cheaper?
Officials said the government is keen to conform to the convention of the Union Budget for 2026-2027 being presented on February 1 despite it falling on a Sunday in 2026.
'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.'
Sitharaman took charge of the Finance Ministry on May 31, 2019, and has steered the economy through the COVID-19 pandemic and geopolitical turmoil, making India the fastest-growing major economy in the world.
No income tax relief, but compliance burden eased for youth and middle class through lower TCS.
Lachit Borphukan is revered as one of Assam's greatest military commanders and a symbol of courage, patriotism and selfless leadership.
Of the Rs 31,820.80 crore allocated to central sector schemes and projects, only Rs 11,868.05 crore was utilised, according to the revised estimates.
