Finance Minister Nirmala Sitharaman walked into Parliament on a Sunday—yep, first time ever for a full Budget on February 1—and delivered her ninth straight one. She presented it from the shiny new Kartavya Bhawan, and the whole speech felt grounded in three big “kartavyas” (duties): keep the economy roaring ahead, help people chase their dreams, and make sure no one gets left behind in the Sabka Saath, Sabka Vikas spirit.
The headline vibe? “Push to the economy to maintain growth momentum.” That’s literally what she said early on. India’s been growing at a solid clip (around 7% lately), and this Budget is all about not letting global headwinds slow us down. No flashy tax cuts for the middle class—sorry, salaried folks, no slab changes or big relief there—but a clear bet on infrastructure, manufacturing, and making things at home.
Numbers-wise, the government’s sticking to its fiscal discipline game. Fiscal deficit for 2026-27 is targeted at 4.3% of GDP, down just a notch from 4.4% this year. That’s prudent, especially when they’re pumping more into building stuff. Capital expenditure jumps to ₹12.2 lakh crore for FY27 (up from ₹11.2 lakh crore). That’s a decent hike, and it’s been the engine pulling jobs and growth for years now. Total forecast size? Around ₹53.5 lakh crore, with net tax receiving expect at ₹28.7 lakh crore.
Big focus areas that stood out:
Manufacturing gets serious love. ISM 2.0 for semiconductors, Electronics Components scheme bumped to ₹40,000 crore, rare earth corridors in states like Odisha and Kerala, chemical parks on plug-and-play mode. They’re trying hard to cut import dependence and build supply chains here.
Infrastructure keeps rolling—seven green passenger rail corridors, an east-west freight one, more high-speed stuff. Tourism’s getting a boost too: flat 2% TCS on foreign trips (down from higher rates), upskilling guides, a new National Institute of Hospitality. Health side: NIMHANS 2.0 for mental health in the north, three new Ayurveda institutes, zero customs duty on 17 cancer drugs. Agriculture and allied sectors up 7.12% to ₹1,62,671 crore.
MSMEs scored a ₹10,000-crore dedicated growing fund— diligence folks are calling it a potential game-changer for turning small players into champions. Women entrepreneurs get more push through Lakpati Didi expansions and easier financing.
Markets? They dipped during the speech—no income tax goodies probably didn’t help—and some F&O transaction taxes went up, which annoyed traders. But overall, it’s not a democrat splash; it’s more about long-haul resilience toward Viksit Bharat by 2047.
Feels like a Budget that says: we’re confident, we’re imbue big in the basics, and we’re keeping the books in check. Whether it delivers the momentum Sitharaman talked about will depend on implementation, but the direction is clear—no shortcuts, just steady grind.
Sources:
NDTV Live Updates on Union Budget 2026
Times of India Budget 2026 Live Blog
Economic Times Live Coverage
Press Information Bureau (PIB)
Highlights of Union Budget 2026-27
The Hindu Business Section on Budget Announcements
Official excerpts from indiabudget.gov.in and FM’s speech
