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Union Budget 2026: Finance Minister Nirmala Sitharaman on Sunday presented Union Budget 2026 in the Lok Sabha. This was Nirmala Sitharamans ninth consecutive budget under the Narendra Modi government. In her budget presentation the Finance Minister announced a slew of measures for the Banking sector. Reform-based growth in the banking sector will continue. In addition a proposal has been made to constitute a high-level committee on banking for a developed India. During her speech Sitharaman laid down three kartavyas considered for Union Budget 2026. Sitharaman proposed three Kartavyas or duties of the government that were considered while preparing the Budget. First is to accelerate and sustain economic growth by enhancing competitiveness and building resilience to volatile global dynamics. Second is to fulfil the aspirations of people and build their capacity and make them strong partners in India’s path to prosperity Third kartavya is to ensure ‘sab ka saath sab ka vikas’. It is to ensure that every family community region has access to resources ammenities opportunities for meaningful participation. Budget 2026: Here are some of the key details: Finance Minister Nirmala Sitharaman made several announcements for the banking sector during her Budget speech. Reform-based growth in the banking sector will continue. In addition a proposal has been made to constitute a high-level committee on banking for a developed India. Restructuring of the Power Finance Corporation (PFC) and the Rural Electrification Corporation (REC). A comprehensive review of the Foreign Exchange Management regulations will be undertaken. Along with this emphasis will be placed on opportunities for funds and derivatives in the corporate bond market Proposal has been made to introduce total return swaps on corporate bonds. The Finance Minister stated that there will be a strong push to promote high-value municipal bonds in large cities. A proposal has also been included in the Budget to provide an incentive of ₹100 crore for single bonds of over ₹1000 crore. Additionally the AMRUT scheme for small and medium towns involving bonds of up to ₹200 crore will continue. She said that ease of doing business will be enhanced for PROI and the investment limit for individual PROI will be increased from 5 percent to 10 percent. The overall investment limit for individual PROI will be raised from 10 percent to 24 percent. Nirmala Sitharaman informed that Mahatma Gandhi Gram Swaraj Yojana will be initiated to boost Khadi handloom sector with training skilling production and quality checks. I propose to set up mega textile parks in challenge mode. I propose to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi and handloom she said. She also 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.