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Budget 2026: Finance Minister Nirmala Sitharaman tabled the Union Budget 2026 in the Parliament today, outlining the government’s economic roadmap. Laying out the government’s broader vision in the Union Budget 2026 on Sunday,

Finance Minister Nirmala Sitharaman said the Centre’s sankalp remains firmly focused on the poor, underprivileged and disadvantaged, and announced a three-pronged framework of 'Kartavya' to guide policy action going forward.

Calling this the first Budget prepared at Kartavya Bhavan, the Finance Minister said the government is drawing inspiration from three core Kartavya aimed at strengthening India’s economic and social foundations amid global uncertainty.

Here’s a quick, no-jargon recap of what the finance minister announced, giving you all the budget dope in just two minutes.

Also read: India Budget 2026 Key Takeaways: Will common man and taxes be focus points again?

Here’s a quick, no-jargon recap of what the finance minister announced, giving you all the budget dope in just two minutes.

Big Picture: What this Budget is really about?

The broader themes of Union Budget 2026, as outlined by Sitharaman, revolve around:

1. Finance Minister Nirmala Sitharaman said Budget 2026 is guided by a sense of Kartavya (duty)

2. The first Kartavya is to prioritise the poor, underprivileged and disadvantaged

3. The second Kartavya is to accelerate economic growth and job creation

4. Emphasis on capital expenditure, manufacturing, MSMEs and infrastructure

5. Focus on improving productivity and strengthening India’s global competitiveness

6. The third Kartavya is to strengthen economic foundations for the future

7. Stress on fiscal consolidation alongside growth-supportive spending

8. Push for structural reforms, regulatory simplification and long-term stability aligned with the vision of Viksit Bharat

By the numbers: The figures that define Budget 2026

These are the headline numbers you’ll hear the most in the coming days, some numbers from the last year are -

1. Capital expenditure (capex): ₹12.2 lakh crore (record high)

2. Fiscal deficit target (FY27): ~4.3% of GDP

3. GDP growth outlook: 6.8%–7.2%

4. Champion MSMEs Fund: ₹10,000 crore

5. Biopharma Mission 2.0: ₹40,000 crore

6. Carbon capture & green transition push: ₹20,000 crorRare earth & critical mineral corridors announced

Also read: Budget 2026: What’s coming, what matters, and how India’s money manual gets a makeover

Before you pay your taxes: What taxpayers should know. Here’s a look at some numbers from last year:

1. No income tax up to Rs 12 lakh income per annum in new regime

2. Nil tax for Rs 12.75 lakh for salaried income due to Rs 75,000 standard deduction

3. Slabs and rates to be changed across the board

4. Simplified tax structure proposed in New Income Tax Bill

5. Rationalisation of TDS, TCS for taxpayers

6. Tax deduction limit doubled to Rs 1 lakh for senior citizens

7. TCS on remittances for education removed

8. Annual TDS limit for rent raised to Rs 6 lakh from Rs 2.4 lakh

9. Time limit to file return increased from 2 years to 4 years

10. Relief for two self-occupied homes

India's MSME playbook

1. New fund of funds for startups to be launched worth Rs 10,000 crore to facilitate tech upgradation of MSMEs

2. Grameen Credit Card for self help groups. Banks to maintain credit score for self-help group

3. New scheme for 5 lakh women, SC, ST. First-time entrepreneurs to get term loans up to Rs 2 crore

4. Street vendors to get UPI-linked credit card with a limit of Rs 30,000

5. Social security for 1 crore gig workers. ID cards to be issued to gig workers to avail government.

More to come