🇮🇳 India Union Budget 2026–27: Has it passed? What’s included?
Budget Status
- The Union Budget 2026–27 has been presented in Parliament (on 1 February 2026 by Finance Minister Nirmala Sitharaman).
- ❌ It is not fully passed yet.
- It will become law only after discussion and approval through the Finance Bill in Parliament.
Key Highlights of Budget 2026–27
1) Infrastructure & Development
- Capital expenditure increased to about ₹12.2 lakh crore for roads, railways, cities, and public projects.
- Proposal for 7 high-speed rail corridors (e.g., Mumbai–Pune, Delhi–Varanasi).
- Plan to develop 20 new national waterways over the next 5 years.
- Launch of an Infrastructure Risk Guarantee Fund to attract private investment.
2) Tax Change
No major change in income tax slabs.
- Tax filing and compliance processes made simpler.
- TCS reduced to 2% on:
- Foreign travel packages
- Overseas education and medical expenses
Some relief in Minimum Alternate Tax (MAT) for certain companies
3) Technology & Manufacturing
- India Semiconductor Mission 2.0 launched to boost chip manufacturing.
- Biopharma SHAKTI Mission with ₹10,000 crore to make India a global biopharma hub.
- Focus on rare earth minerals, chemical parks, and advanced manufacturing.
4) Farmers, MSMEs & Jobs
- New initiatives to increase farmers’ income, including AI-based agriculture tools.
- SME Growth Fund of ₹10,000 crore to support small and medium businesses.
- Continued support for employment generation.
5) Health, Education & Social Sector
- Increased spending on healthcare and education.
- Expansion of women’s hostels, skill development, and AYUSH-based health hubs.
6) Economy & Fiscal Discipline
- Fiscal deficit target set at around 4.3% of GDP.
- Government aims to reduce the debt-to-GDP ratio by 2030.
In Short
- ✔ Main focus areas: infrastructure, technology, manufacturing, MSMEs, farmers, and economic stability.
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