New Delhi: Union Finance Minister Nirmala Sitharaman presented the Union Budget for the 2026–27 financial year in the Lok Sabha today, February 1, marking a historic departure as the first annual budget ever tabled on a Sunday.
This was the Finance Minister’s ninth consecutive budget presentation, as she continues to steer India’s journey toward the 'Viksit Bharat' 2047 goal.
The Finance Minister clocked in at 1 hour and 25 minutes, making it the third shortest budget speech on record.
Ahead of the presentation, President Droupadi Murmu offered the customary dahi-cheeni to the finance minister, a symbolic gesture of good luck.
In her address, Sitharaman emphasised a dual focus on accelerated infrastructure development and sustained fiscal consolidation. A key fiscal highlight was the reduction of the fiscal deficit target to 4.3% of GDP, backed by a record capital expenditure allocation of ₹12.2 lakh crore aimed at strengthening railways, green energy initiatives, and industrial corridors.
On taxation, while personal income tax slabs remain unchanged, the government announced the formal rollout of a New Income Tax Act effective April 1, 2026, designed to streamline compliance and minimise litigation.
For financial markets, the Securities Transaction Tax (STT) on futures and options transactions has been raised. In a relief for individuals sending money abroad, the Tax Collected at Source (TCS) rate on overseas remittances under the Liberalised Remittance Scheme (LRS) has been reduced to 2%.
Read Full Speech Here:
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