Budget 2026 Live Updates

Budget 2026 Live Updates:

👉 Union Finance Minister Nirmala Sitharaman says,”… I propose to set up three new All India Institutes of Ayurveda; Upgrade Ayush pharmacies and drug testing labs and make available more skilled persons; Upgrade the WHO global Traditional Medicine Centre in Jamnagar”

👉 Union Finance Minister Nirmala Sitharaman says,”… India’s Animation, Visual Effects, Gaming and Comics AVGC sector is a growing industry, projected to require 2 million professionals by 2030. I propose to support the Indian Institute of Creative Technologies, Mumbai in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.”

👉 Union FM Nirmala Sitharaman says, “To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states. A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030.”

👉 Union FM Nirmala Sitharaman says, “The Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India Mission to transform the Sports sector over the next decade.”

👉 Union Finance Minister Nirmala Sitharaman says,”…I propose multiple steps towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sector. Agirls hosel will be built in every district of the country.”

👉 Union FM Nirmala Sitharaman says, “I propose to increase the limit for duty-free imports of specified inputs used for processing sea foods for export from the current 1% to 3% of FOB value of the previous year’s export turnover. I also propose to allow duty-free imports of specified inputs which is currently available for exports of leather or synthetic footwear to exports of shoe uppers as well.”

👉 Govt to launch coconut promotion scheme, boost cashew and cocoa sectors.

👉 FM Sitharaman proposes seven high-speed rail corridors, freight links, new waterways push.

👉 FM Sitharaman launches India’s Semiconductor Mission 2.0 with Rs 40,000 cr outlay.

👉 Union FM Nirmala Sitharaman says, “I propose to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing lithium-ion cells for battery energy storage systems also. I propose to exempt the basic customs duty on import of sodium antimonate for use in the manufacturing of solar glass.”

👉 Union FM Nirmala Sitharaman says, “I propose to extend the basic customs duty exemption on import of goods required for nuclear power projects till 2035 and expand it for all nuclear plants irrespective of their capacity.”

Further updates awaited

Rare earth corridors, Rs 12.2 lakh crore capex push, Rs 10,000cr SME fund

Govt announces setting up of one girls’ hostel in every district

New Delhi, Feb 1: Finance Minister Nirmala Sitharaman on Sunday announced setting up of one girls’ hostel in every district of the country.

There are over 700 districts in the country.

She also proposed a loan-linked capital subsidy support scheme for veterinary colleges, hospitals, and diagnostics laboratories.

The minister also announced upgrading Ayush pharmacies and drug testing labs, WHO (World Health Organisation) Traditional Medicine Centre at Jamanagar, Gujarat.

The Centre, she said, will support five university townships in the vicinity of major industrial logistics centres.–(PTI)

Union Budget 2026 Live Updates: Union Finance Minister Nirmala Sitharaman has made history today as she’s presenting her ninth consecutive Union Budget, becoming the first finance minister in India to achieve this milestone. With this, she moves closer to the overall record of 10 budgets held by former Prime Minister Morarji Desai, though Desai’s were not consecutive. She also surpasses P Chidambaram and Pranab Mukherjee to become the second-highest budget presenter in Indian history, with all nine budgets delivered consecutively since 2019 under Prime Minister Narendra Modi.

For the first time in independent India, the Union Budget is being presented on a Sunday. While government offices and markets are usually closed, the BSE and NSE are holding special trading sessions to allow immediate market reaction.

This year’s budget is expected to focus on the smooth transition to the New Income Tax Act, 2025, set to replace the 1961 Act from April 1, 2026. Key allocations are anticipated for infrastructure, railways including Kavach 4.0 safety systems, defense, and artificial intelligence. Middle-class taxpayers are looking for relief under the new tax regime, including a higher standard deduction and possible expansion of the 87A rebate. The presentation comes amid global uncertainties, including U.S. tariffs affecting Indian exports, making the budget crucial for both domestic and foreign stakeholders.

11:47 (IST) Feb 01

Budget 2026: FM Sitharaman on banking

Union Budget 2026: Union finance minister Nirmala Sitharaman said, “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. The vision for NBFCs for Viksit Bharat has been outlined with clear targets for credit disbursement and technology adoption. In order to achieve scale and improve efficiency in the public sector NBFCs, as a first step, it is proposed to restructure the Power Finance Corporation and Rural Electrification Corporation.”

11:45 (IST) Feb 01

Union Budget 2026 Live: Additional Rs 2,000 crore for micro‑enterprise risk capital access

FM announced,” I also propose to top up the Self Reliant India Fund set up in 2021 with 2000 crores to continue supporting micro enterprises and maintain their access to risk capital. Liquidity support with trends, more than seven lakh crore has been made available to MSMEs. To leverage its full potential, I propose four measures. One: : Mandate TREDZ as the transaction settlement platform for all purchases from MSMEs by CPSEs, serving as a benchmark for other corporates.

2. Introduce a credit guarantee support mechanism through CGT-MSC for invoice discounting on TREAD’s platform.

3. Link GEM with TREAD for sharing information with TReDS Mandate: All CPSE purchases from MSMEs to use TReDS settlement”

4. Corporate Mitras: Professional institutions to train compliance support paraprofessionals’ compliance, MSME support training

11:43 (IST) Feb 01

Union Budget 2026 Live: Proposal to set up high-powered ‘Education to Employment and Enterprise’

FM Sitharaman said, “I propose to set up a High-Powered ‘Education to Employment and Enterprise’ Standing Committee to recommend measures that focus on the Services Sector as a core driver of Viksit Bharat. This will make us a global leader in services, with a 10% global share by 2047. The Committee will prioritise areas to optimise the potential for growth, employment and exports. They will also assess the impact of emerging technologies, including AI, on jobs and skill requirements and propose measures thereof.”

11:40 (IST) Feb 01

Union Budget: FM Sitharaman on railways

FM Nirmala Sitharaman, in her budget presentation in Lok Sabha, proposed developing 7 high speed corridors between cities as growth connectors.

11:38 (IST) Feb 01

Union Budget 2026: FM Sitharaman launches ‘India Semiconductor Mission 2.0’

Presenting the Union Budget 2026, Finance Minister Nirmala Sitharaman announced the launch of the India Semiconductor Mission (ISM) 2.0, with an outlay of Rs 40,000 crore, aimed at building on the gains of the earlier phase and accelerating growth in the semiconductor sector.

She said the first phase of the mission had strengthened India’s semiconductor capabilities, and ISM 2.0 would now focus on manufacturing equipment and materials, enabling full-stack chip design, developing domestic intellectual property, and reinforcing supply chains.

The programme will also support industry-led research and training centres to drive technological advancement and create a skilled talent pipeline for the sector.

In addition, Sitharaman unveiled the ‘Shakti’ initiative, allocating Rs 10,000 crore over five years to further deepen and support the broader semiconductor ecosystem in the country.

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11:37 (IST) Feb 01

Union Budget 2026: FM announces new freight corridor

Budget 2026: New dedicated freight corridor from Dankuni in East to Surat in West to promote environmentally sustainable movement of cargo, said FM Sitharaman.

11:35 (IST) Feb 01

Budget 2026 Live: Rs 10,000 crore announcement for MSMEs

It includes the creation of a Rs 10,000 crore SME Growth Fund to support future job-creating enterprises and a Rs 2,000 crore top-up to the Self Reliant India Fund for micro-enterprise risk capital. A major liquidity package is reinforced with four measures, including mandatory use of TReDS for CPSE purchases, credit guarantee backing for invoice discounting, integration of GeM and TReDS to ease financing, and development of a secondary market for trade receivables. Professional institutions will also train ‘corporate mitras’ to help MSMEs meet compliance needs affordably, especially in Tier 2 and Tier 3 cities.

11:33 (IST) Feb 01

Union Budget 2026-27: ‘I propose to set up mega textile parks in challenge mode,’ says FM

Union Budget 2026–27: Finance minister Nirmala Sitharaman says, “For the labour-intensive textile sector, I propose an integrated programme with five sub-parts. One, the National Fibre Scheme for self-reliance in natural fibres such as silk, wool and jute, man-made fibres, and new-age fibres. Two, the Textile Expansion and Employment Scheme to modernise traditional clusters with capital support for machinery, technology upgradation, and common testing and certification centres. Three, the National Handloom and Handicraft Programme to integrate and strengthen existing schemes and ensure targeted support for weavers and artisans. Four, the Text-ECON initiative to promote globally competitive and sustainable textiles and apparel. Five, SAMARTH 2.0 to modernise and upgrade the textile skilling ecosystem through collaboration with industry and academic institutions. Further, I propose to set up mega textile parks in challenge mode. They can also focus on bringing value addition to technical textiles. I also propose to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen handloom and handicrafts. This will help in global market linkages and branding. It will streamline and support training, skilling, and quality processes in production. These measures will benefit our weavers, village industries, the One District, One Product (ODOP) initiative, and our rural youth.

11:32 (IST) Feb 01

Budget 2026 Live: FM propose a scheme for ‘container manufacturing,’

In the Union Budget 2026–27, Finance Minister Nirmala Sitharaman said she is proposing a new scheme to promote container manufacturing, aimed at building a globally competitive ecosystem for the sector, with a budgetary allocation of Rs 10,000 crore spread over five years.

11:30 (IST) Feb 01

Union Budget 2026: ‘Govt chose reforms over rhetoric,’ says FM Sitharaman

Finance minister Nirmala Sitharaman on Sunday said the government has prioritised reforms over rhetoric while charting India’s economic course. Presenting the Union Budget for 2026–27 in the Lok Sabha, she said the country would continue taking decisive steps towards becoming a Viksit Bharat.

The Finance Minister also tabled the 16th Finance Commission report, which outlines the framework for tax revenue devolution between the Centre and the states for the 2026–2031 period.

11:29 (IST) Feb 01

Union Budget 2026: Capex proposed at Rs 12.2 lakh crore for FY 2026-27

FM said, “Public capital expenditure has increased manifold from 2 lakh crore in 2014-15 to an all-occupation of 11.2 lakh crore in BE 25-26. In this coming year, that is, financial year 2026-27, I propose to increase it to 12.2 lakh crores to continue the momentum. To strengthen the confidence of private developers regarding risks during infrastructure development, and construction phase, I propose to set up an infrastructure risk guarantee fund to provide prudentially calibrated public credit guarantee to lenders. Over the years, rights have emerged as a successful instrument for asset monetization. I propose to accelerate recycling of significant real estate assets of the CPSEs through the setting up of dedicated rights. To promote environmentally sustainable movement of cargo, I propose two. One, establish new dedicated freight corridors connecting Dangkuni in the east to Surat in the Infrastructure Risk Guarantee Fund: New prudentially calibrated public credit guarantee mechanism to support lenders during infrastructure development.”

11:26 (IST) Feb 01

Union Budget 2026: ‘India will continue to take confident steps towards Viksit Bharat,’ says FM

Union FM Nirmala Sitharaman says, “Today, we face an external environment in which trade and multilateralism are in imperent and access to resources and supply chains are disrupted. New technologies are transforming production systems while sharply increasing demands on water, energy and critical minerals. India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion. As a growing economy with expanding trade and capital needs, India must also remain deeply integrated with global markets, exporting more and attracting stable long term investment.”

11:24 (IST) Feb 01

Budget 2026 Live: FM Sitharaman says ‘Reform Express’ to help government fulfill its kartavya

Finance Minister Nirmala Sitharaman on Sunday said the government would press ahead with its reform agenda. Presenting her ninth consecutive Budget, she noted that the “reform express” remains on track and will keep up its momentum as the government works to fulfil its duties. “Our government has undertaken comprehensive reforms towards creating employment, boosting productivity and accelerating growth.After the Prime Minister’s announcement on Independence Day in 2025 over 350 reforms have been rolled out. This includes GST simplification, notification of labor codes and registration of mandatory quality control orders. High level committees have been formed. And in parallel, the central government is working with the State governments on deregulation and reducing compliance requirements,” she said.

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11:21 (IST) Feb 01

Budget 2026 Live: ‘Our government has decisively and consistently chosen action over ambivalence,’ says FM

‘We have pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment. Keeping Atmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies,” she added.

11:19 (IST) Feb 01

Union Budget 2026: ‘I propose interventions in six areas-scaling up manufacturing in 7 strategic sectors,’ says FM

Presenting Union Budget 2026-27, Union finance minister Nirmala Sitharaman said, “To accelerate and sustain economic growth, I propose interventions in six areas-Scaling up manufacturing in 7 strategic sectors; Rejuvenating legacy industrial sectors; Creating champion MSMEs; Delivering a push for infra; Ensuring long-term security and stability; Developing city economic regions.”

11:18 (IST) Feb 01

Union Budget 2026 Live: Four states to establish dedicated rare earth corridors, says FM

Scheme for rare earth permanent magnets was launched in 2025 November. We now propose to support the mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated rare earth corridors to promote mining, processing, research and manufacturing. To enhance domestic chemical production and reduction in import dependency, we will launch a scheme to support states in establishing three dedicated chemical arks through challenge route on a cluster-based plug-and-play model.

11:15 (IST) Feb 01

Budget 2026 Live: ‘India’s semiconductor mission, 1.0 expanded India’s semiconductor sector capabilities’

Further continuing her speech, the FM added, “Building on this, we will launch ISM 2.0 to produce equipment and materials, design full stack, Indian IP and fortify supply chains. We will also focus on industry led research and training centers to develop technology and skilled workforce.”

11:13 (IST) Feb 01

Budget 2026 Live: ‘Biologic medicines are key to longevity and quality of life at affordable costs,’ says FM

“To develop India as a global biopharma manufacturing hub, I proposed the Biopharma Shakti with an outlay of 10,000 crores over the next five years. This will build the ecosystem,” she said. “For domestic production of biologics and biosimilars, the strategy will include a biopharma focused network with three new national institutes of pharmaceutical education and research, popularly known as NIPERS, and upgrading seven existing ones. It will also create a network of 1,000 accredited India clinical trials sites. We propose to strengthen the Central Drug Standard Control Organisation to meet global standards and approve timeframes through a dedicated scientific review and specialists,” she added

11:13 (IST) Feb 01

Union Budget 2026 ‘People over populism’

Union finance minister Nirmala Sitharaman said, “Reform over rhetoric and people over populism. We have pursued far-reaching structural reforms, fiscal prudence and monetary stability whilst maintaining a strong trust on public investment.

11:12 (IST) Feb 01

Budget 2026: ‘We have ensured that citizens benefit from every action of the Government,’ says Sitharaman in Lok Sabha

Union FM Nirmala Sitharaman said, “Keeping Aatmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies. Simultaneously, we have ensured that citizens benefit from every action of the Government, undertaking reforms to support employment generation, agricultural productivity, household purchasing power and universal services to people. These measures have delivered a high growth rate of around 7% and helped us make susbstantial strides in poverty reduction and improvement in the lives of our people.”

11:10 (IST) Feb 01

Union Budget 2026: FM Sitharaman presents budget in Lok Sabha

Today we face an external environment where trade and multilaterism is imperative, said finance minister Sitharaman.

11:09 (IST) Feb 01

Budget 2026 Live: ‘Inspired by three kartavayas,’ says FM while presenting her 9th Budget at Kartavya Bhavan

she also stated that, “This is the first budget prepared in Kartavya Bhavan.”

11:06 (IST) Feb 01

Union Budget 2026: FM Nirmala Sitharaman reflects on country’s economic trajectory

Presenting Union Budget 2026-27. Union Finance Minister Nirmala Sitharaman says,” Since we assumed office 12 years ago, the country’s economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions.”

11:05 (IST) Feb 01

Union Budget 2026 Live: AAP MP Sanjay Singh on Union Budget

On Union Budget 2026, AAP MP Sanjay Singh said, “When PM took oath for the first time, he had assured the youth of the country that he would provide 2 crore jobs every year. So, we want an account of 24 crore jobs…What became of the promise for jobs? What became of the promise of doubling the price of farmers’ produce? We want to ask the Govt: what became of the promise to bring back black money? They should answer this. They should tell us about inflation…Sometimes they increase tax and sometimes they lower it. The Govt has destroyed the economic system of the country. How this will come back on track is what we will look for today.”

11:03 (IST) Feb 01

Union Budget 2026: TMC leader Sudip Bandyopadhyay on budget

“Big talks, big promises, nothing is happening. Our Awas Yojana money, MGNREGA money, lakhs and lakhs of crores of rupees are still pending. So this government is anti-Bengal government. Now, dreaming that we’ll come back to power. But they are not aware of West Bengal CM Mamata Banerjee’s acceptance, her popularity, strength of Trinamool Congress in Bengal. We’ll throw them out.”