Union Budget 2026 LIVE Updates: Nirmala Sitharaman presents Budget in Parliament

LIVE updates of the Union Budget 2026 presented by Finance Minister Nirmala Sitharaman in the Parliament.

New Update
Feb 01, 2026 12:27 IST

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: FM

Feb 01, 2026 12:26 IST

Tax holiday till 2047 to be provided to any foreign company which provides cloud services to customers globally for using data centre services from India, it will however need to provide services to Indian customers through an Indian reseller entity: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:26 IST

Software development services, ITeS, KPO, Contract R&D services relating to software development to be clubbed under a single taxation category of Information Technology Services with a common safe harbour margin of 15.5% applicable to all: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:23 IST

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: FM

Feb 01, 2026 12:17 IST

Scheme for Small Taxpayers to be launched, wherein rule-based automated process will enable obtaining a lower or NIL deduction certificate, instead of filing application with the assessing officer: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:15 IST

Government has accepted recommendation of 16th Finance Commission, to retain vertical share of devolution at 41%. Rs. 1.4 lakh crores provided as Finance Commission grants to states, for FY 2026-27: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:12 IST

I propose to extend time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee. I also propose to stagger the timeline for filing of tax returns - individuals with ITR 1 and ITR 2 will continue to file till 31st July and non-audit business cases or trust are proposed to be allowed time till 31st August: FM

Feb 01, 2026 12:11 IST

Scheme for Development of Buddhist circuits in Arunachal Pradesh, Sikkim, Assam, Manipur, Mizoram and Tripura to be launched: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:10 IST

Divyang Jan Kaushal Yojana

Dignified livelihood opportunities through industry-relevant training to be provided to each Divyang Jan group

Divyang Sahara Yojana - to support ALIMCO to set up and scale up production of assistive devices; assistive tech marts to be set up

--Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:10 IST

In FY2026-27, fiscal deficit is seen at 4.4% of the GDP. The fiscal deficit at 4.3% of GDP in FY2027: FM

Feb 01, 2026 12:08 IST

Self Help Entrepreneur (SHE) - Marts to be set up as community-owned retail outlets within cluster-level federations, to promote rural women-led enterprises: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:06 IST

Debt to GDP ratio is estimated to be 55.6% of GDP: FM

Feb 01, 2026 12:06 IST

Bharat VISTAR (Virtually Integrated System To Access Agricultural Resources) - a multilingual AI tool that will integrated existing portals on agri practices with AI systems - to be introduced to enable better decisions by farmers: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:04 IST

Coconut Promotion Scheme to be launched, to improve production and competition. Dedicated programme for Indian cashew and cocoa to make India self-reliant: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:03 IST

High value crops to be supported, to diversify farm output, increase productivity and create new employment opportunities: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:03 IST

The Government has accepted 16th Finance Commission recommendations to retain the vertical share of devolution at 41%. I have allocated Rs 1.4 lakh crores for states for FY2026-27: FM

Feb 01, 2026 12:03 IST

I propose to reduce TCS rate on the sale of overseas tour program package from the current 5% and 20% to 2% without any stipulation of amount: FM

Feb 01, 2026 12:02 IST

I propose that any interest awarded by the motor accident claims tribunal to a natural person will be exempt from income tax and any TDS on this account will be done away with: FM

Feb 01, 2026 12:01 IST

Initiatives to be taken for Integrated Development of 500 Reservoirs and Amrit Sarovars. Fisheries value chain in coastal areas to be strengthened: Finance Minister Nirmala Sitharaman

Feb 01, 2026 12:00 IST

Khelo India Mission to Transform Sports Sector to be launched

1) Integrated talent development pathway

2) Development of Coaches and support staff

3) Integration of sports science and technology

4) competitions and leagues to promote sports culture

5) Development of sports infra for training and competitions

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:58 IST

15 archaeological sites to be developed into vibrant experiential cultural destinations: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:54 IST

National Institute of Hospitality to be set up, by upgrading existing National Council for Hotel Management and Catering Technology: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:53 IST

Girls' Hostel to be set up in every district, through VGF or capital support: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:51 IST

New National Institute of Design to be set up in eastern region of India: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:50 IST

Indian Institute of Creative Technologies Mumbai to be supported in setting up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:50 IST

Loan-linked Capital Subsidy Scheme to be launched, to scale up availability of veterinary professionals by more than 20,000; veterinary and para-veterinary colleges and diagnostic labs and breeding facilities to be set up: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:48 IST

Steps for promoting Ayurveda

1) 3 new All India Institutes of Ayurveda to be set up

2) Upgrading AYUSH Pharmacies and testing labs for higher standards

3) Upgrading WHO Global Traditional Medicine Centre in Jamnagar 

--Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:47 IST

Measures for New Career Pathways for Youth, in Health Sector

1) Existing institutions for Allied Health Professionals to be upgraded, new AHP institutions to be set up, covering 10 selected disciplines

2) Strong care system to be built, variety of programmes to be developed to train care professionals

3) Scheme to be launched to support states in setting up five regional Medical Tourism Hubs

--Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:43 IST

High Powered Education to Employment and Enterprises Standing Committee to be set up, to recommend measures focusing on services sector as a core driver of Viksit Bharat: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:41 IST

Waterways system in Odisha to connect with Dhamra and Paradip: FM

Feb 01, 2026 11:41 IST

Individual Persons Resident Outside India to be permitted to invest in equity instruments of listed Indian companies through Portfolio Investment Scheme: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:40 IST

Municipal Bonds

Incentive of Rs. 100 crores to be given for single bond issuance of more than Rs. 1000 crores, to encourage issuance of bonds of higher value by larger cities: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:37 IST

Power Finance Corporation and Rural Electrification Corporation to be restructured: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:36 IST

High-level Committee on Banking for Viksit Bharat to be set up to comprehensively banking sector and align it with India's next phase of growth: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:35 IST

7 High Speed Rail Corridors between cities to be developed, as growth connectors

1) Mumbai to Pune

2) Pune to Hyderabad

3) Hyderabad to Bengaluru

4) Hyderabad to Chennai

5) Chennai to Bengaluru

6) Delhi to Varanasi

7) Varanasi to Siliguri

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:33 IST

City Economic Regions to be mapped based on specific growth drivers, an allocation of Rs. 5000 crores per CER over five years to be given in challenge mode: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:32 IST

Public capital expenditure has increased manifold 

In FY 2026-2027, capex to be increased to Rs. 12.2 lakh crores to continue the growth momentum: Finance Minister Nirmala Sitharaman.

Feb 01, 2026 11:31 IST

Rs. 20,000 crores outlay for Carbon Capture Utilization and Storage Technologies in next five years: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:30 IST

Incentives to be given for indigenous manufacturing of sea planes: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:30 IST

Measures to promote environmentally sustainable cargo movement

1) New dedicated freight corridors

2) 20 new National Waterways in next 5 years

3) Training institutes to be set up

4) Ship repair ecosytem for inland waterways to be set up in Varanasi and Patna

5) Coastal Cargo Promotion Scheme to be launched to increase share of inland waterways and coastal shipping

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:29 IST

Infrastructure Risk Guarantee Fund to be set up to provide credit guarantee to lenders: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:28 IST

Public capital expenditure has increased manifold. In FY 2026-2027, capex to be increased to Rs. 12.2 lakh croes to continue the growth momentum: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:25 IST

Government will facilitate professional institutions such as ICAI, ICSI and ICMAI to design modular courses and practical tools to develop a cadre of corporate Mitras, to help MSMEs meet compliance requirements at low cost: Finance Minister Nirmala Sitharaman.

Feb 01, 2026 11:24 IST

3-pronged approach to create champion MSMEs 

1) Dedicated Rs. 10,000 crores for SME Growth Fund

2) Self Reliant India Fund to be topped up, with Rs. 2,000 crores

3) To leverage full potential of TREDS, four measures to be introduced, to improve liquidity support for MSMEs 

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:23 IST

Integrated programme for textiles sector to be launched, with 5 sub parts

1) National Fibre Scheme for self reliance in natural fibres

2) Textile Expansion and Employment Scheme to modernize traditional clusters

3) National Handloom and Handicraft Programme to strengthen existing schemes

4) Tex Eco initiative to promote sustainable textiles

5) SAMARTH 2.0 to modernize and upgrade skilling ecosystem

In addition, Mega Textiles Parks to be set up in challenge mode

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:22 IST

Rejuvenation of Legacy Industrial Clusters

Scheme to be introduced to revive 200 legacy industrial clusters: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:21 IST

India Semiconductor Mission 

Building on ISM 1.0, ISM 2.0 to be launched, to produce equipment and materials and Indian IP

To also focus on industry led research centres and training centres

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:21 IST

Mahatma Gandhi Gram Swaraj Initiative to be launched, to strengthen Khadi, handloom and handicrafts: Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:20 IST

Integrated programme for textiles sector to be launched

Integrated programme for textiles sector to be launched, with 5 sub parts

1) National Fibre Scheme for self reliance in natural fibres

2) Textile Expansion and Employment Scheme to modernize traditional clusters

3) National Handloom and Handicraft Programme to strengthen existing schemes

4) Tex Eco Initiatve to promote sustainable textiles

5) SAMARTH 2.0 to modernize and upgrade skilling ecosystem

In addition, Mega Textiles Parks to be set up in challenge mode

-- Finance Minister Nirmala Sitharaman

Feb 01, 2026 11:20 IST

Hitech Tool Rooms to be set up by CPSEs at two locations

Hitech Tool Rooms to be set up by CPSEs at two locations, as Digitally Enabled Automated Service Bureaus which manufacture high precision components at scale and lower cost

Scheme for Enhancement of Construction and Infra Equipment to be introduced to enhance domestic manufacturing of high value and technologically advanced CIE

Scheme for container manufacturing to be launched, with allocation of Rs. 10,000 crores

-- Finance Minister Nirmala Sitharaman