LIVE: Rising inflation, tariffs, difficult exports, how will Budget 2026 be for the common man?

Samira Vishwas | February 1, 2026 12:24 PM CST

Union Budget 2026 Live Updates: Union Finance Minister Nirmala Sitharaman is going to present the Union Budget 2026-27 in the Lok Sabha. The budget will be presented in Parliament from 11 am. This will be the ninth consecutive budget speech of Finance Minister Nirmala Sitharaman. This is going to be a unique record in the parliamentary history of India. An interesting thing to the budget is that the last time the budget was presented on a Sunday was in the year 1999, now this is happening on 1 February 2026.

On one hand, US President Donald Trump has imposed 50 percent tariff on India, on the other hand, the country is facing many economic challenges. Uncertainty regarding trade has increased in the world. America’s high tariffs are affecting Indian exports. India is exploring new relations with the European Union. In such a situation, everyone’s eyes are on what policies and reforms the Finance Minister brings so that India’s trade increases and economic development is secured.

What are the expectations?

Emphasis on infrastructure, railways, defence, AI skills
Standard dictionary should be increased, TDS rules should be simplified.
More support to MSME, policy to find a cut in tariff
Emphasis on agriculture, health, renewable energy and fiscal discipline

Live Updates of Budget-

Live Updates

2026-02-01T09:02

Finance Minister Nirmala Sitaran with her team

Finance Minister Nirmala Sitharaman met with her officials in the Finance Ministry. Minister of State for Finance Pankaj Chaudhary is also present with him. Finance Ministry officials have also been found. Now she will go to meet the President.

2026-02-01T08:25

Finance Minister Nirmala Sitharaman left for the Finance Ministry from home.

Finance Minister Nirmala Sitharaman left for the Finance Ministry from home. Nirmala Sitharaman will present the Union Budget 2026 in Parliament today.

2026-02-01T08:25

Minister of State for Finance Pankaj Chaudhary leaves for Finance Ministry

Minister of State for Finance Pankaj Chaudhary left for the Finance Ministry from his home. Union Finance Minister Nirmala Sitharaman will present the Union Budget 2026 in Parliament today.

2026-02-01T07:59

What hope does the common man have?

Shiv Mangal Rahi, a passenger present at the New Delhi railway station, said, ‘I am a private sector employee in the IT sector. Last time the government had given us big relief. I have some hope for us this time too, that there should be some relaxation in the tax slab and the new tax system should be made even better> I hope that the facilities in railway stations and trains will improve, infrastructure is necessary. I think the government will do something about inflation also.

2026-02-01T07:59

Will the budget focus on electoral states?

The focus of the budget may also be on Tamil Nadu and West Bengal. Elections are going to be held in these states. Like Bihar, Assam, West Bengal and Tamil Nadu may also get relief.

2026-02-01T07:58

What indications has the Economic Survey given for growth and reforms?

The Economic Survey has estimated GDP growth at 7.4% in FY26, with overall output expected to expand by around 7.3%. This year, growth is likely to slow to between 6.8% and 7.2%, while long-term growth is expected to be closer to 7%. The survey has pointed to a paradox. India’s economy is strong, but it still faces external risks.

2026-02-01T07:57

What are the expectations from Nirmala Sitharaman’s budget?

Lack of employment is a big problem in the country. Amid increasing pressure on the country’s economic development, a boost is being expected for infrastructure, railways, defence, AI skilling and manufacturing. Increase in standard deduction and simplification of TDS are also expected for better cash flow for taxpayers. The government can emphasize on support for MSMEs, export incentives against US tariffs, agriculture, healthcare and renewable energy.