Finance Minister Nirmala Sitharaman shows the digital tablet, enclosed in a traditional red 'bahi-khata' style pouch, at the Parliament premises before the presentation of the ‘Union Budget 2026-27’ (PTI Photo)India Union Budget 2026 Reactions LIVE Updates: Union Finance Minister Nirmala Sitharaman has presented her ninth consecutive budget yesterday, 13th budget of the incumbent National Democratic Alliance (NDA) government. At 11 am, India witnessed its 80th Union Budget being presented in Parliament.
Union Budget 2026, Key Announcements Highlights LIVE: Watch Here
West Bengal CM dismisses Centre’s development pitch: After the budget presentation, West Bengal Chief Minister Mamata Banerjee accused the Centre of short-changing West Bengal in the Union Budget, asserting that no fresh allocations had been made for the state despite tall claims by the BJP. Rejecting the government’s emphasis on projects such as the Dankuni–Surat dedicated freight corridor, the East Coast Industrial Corridor with a node at Durgapur, and tourism initiatives under the Purvodaya vision, she said these announcements lacked substance and novelty. She termed it a ‘humpty dumpty budget’.
Stock Market Today Budget 2026 LIVE: Watch Here
RBI steps in to steady Rupee after budget: The Indian central bank likely intervened before the local spot market opened on Monday, traders said, helping the currency stave off a fall to near record low levels a day after the country’s federal budget announcement sent local stocks reeling, Reuters reported. The rupee appeared on course to open near its all-time low of 91.9875 per dollar, but the central bank’s intervention helped shore it up to 91.77, a gain of 0.2% from its closing level on Friday.
The budget includes significant provisions to strengthen women's empowerment, security and economic participation, as well as to improve agricultural infrastructure, market access for farmers and risk mitigation," said Rajasthan Chief Minister Bhajanlal Sharma.
He also said that the budget was youth-centric, focused on employment generation, skill development, promotion of startups and strengthening the service sector, which will expand both job opportunities and self-employment. (PTI)
"The emphasis on advancing strategic and emerging sectors, such as ISM 2.0 for semiconductors, a long-term strategy for rare earth ecosystems and tax breaks for hyperscalers' investment in India, reflects a deliberate effort to transform potential into tangible outcomes through resilient, high-value domestic capabilities," said Yezdi Nagporewalla, CEO, KPMG. (PTI)
Rajesh Nambiar, President of Nasscom, highlights that the unification of the safe harbour margin to 15.5% across all IT service sectors, including software development services, IT-enabled services, and knowledge process outsourcing services, is a game-changer for the industry.
"Earlier, the companies operating in different categories had different rates; now that has been unified at 15.5 per cent. This has been a long-term ask from Nasscom, and we are glad that the FM has addressed it in the budget," he said.
Nambiar also spoke about the tax holiday where he said that, "The utilisation of domestic data centres will go up significantly." (PTI)
"By recognising tourism as a catalyst for jobs, foreign exchange, and regional development, the government is building a more competitive and resilient travel ecosystem," said Zubin Karkaria, CEO of VFS Global.
"The reductions in TCS on overseas tour packages and TDS under the Liberalised Remittance Scheme for education will ease financial pressure on Indian travellers and students, boosting global mobility and connectivity," added Karkaria.
(PTI)
“Measures like the Education-to-Employment and Enterprise Standing Committee, sector-specific skilling in healthcare and services, and industry-linked training in textiles directly target the employability gap. Over the next 6–12 months, these steps will show up as more skills-aligned hiring, especially across labour-intensive sectors and MSMEs. The real impact of this budget is a workforce that’s better prepared for the jobs employers are ready to create, shifting the focus from simply increasing hiring to enabling better hiring,” Sashi Kumar, Managing Director, Indeed India.
“The proposed GST amendments, such as liberalising post-sale discount conditions, aligning place-of-supply rules for intermediary services, and expanding provisional refunds to include inverted duty structures, are very positive,” said Ms Smita Singh, Partner (Indirect Tax), S&A Law Offices, on the Union Budget 2026 and key indirect tax announcements.
She said with the proposed changes under GST, for post-sale discounts, the requirement of a prior agreement has been removed, which in turn will make compliance easier for businesses operating high-volume transactions or incentive-based pricing models.
The budget also proposed a 90% provisional refund from the inverted duty structure, and this is expected to have a positive impact on the cash flow and ease working capital constraints for affected taxpayers.
The penalties paid under Section 28(5) of the Customs Act will now be classified as a “charge for non-payment of duty”; this is aimed to encourage voluntary compliance, she added.
"As credit demand expands, aligning stability, inclusion and consumer protection will be critical for sustaining confidence in the financial system," said Abhay Bhutada, Chairman of the Abhay Bhutada Foundation and TAB Global Ventures.
"The new Income Tax Act, effective April 2026, along with simplified TDS and TCS provisions and extended timelines for return revisions, could materially reduce compliance friction and litigation, improving ease of doing business," he added.
He also said that the ₹10,000 crore SME Growth Fund is a targeted step towards building "Champion SMEs" by providing growth-stage risk capital linked to defined performance criteria. (PTI)
The Indian tyre industry stands to gain from the government's steps to enhance spending on infrastructure announced in the Union Budget 2026-27, Automotive Tyre Manufacturers Association (ATMA) said on Monday.
The tyre sector is closely linked to the performance of the transport and infrastructure ecosystem and the substantial increase in public capital expenditure to Rs 12.2 lakh crore is a significant positive for long-term demand growth, ATMA said in a statement.
The higher capex allocation underscores the government's ongoing push to build future-ready infrastructure across the country, particularly roads, rail connectivity, urban mobility networks and logistics corridors ,” which are critical drivers of tyre demand across all vehicle segments, it added.
"The tyre industry's growth is intrinsically linked to the pace of infrastructure expansion in the country. The government's focus on elevating public capex reinforces demand momentum for tyres across both passenger and commercial vehicles," ATMA Chairman Arun Mammen said.
(PTI)
Amit Banka, Founder & CEO of WeNaturalists, says,
"The Union Budget 2026-27 is a landmark declaration that nature and development are no longer in conflict; they are now the twin engines of India’s growth story. For years, 'ecological sensitivity' was often dismissed as a buzzword, but this Budget elevates it to a national 'Kartavya'.
The commitment to develop ecologically sustainable mountain trails from the Himalayas to the Western Ghats, and turtle trails along our coastal nesting sites, is a visionary move. It transforms conservation from a silent struggle into a vibrant, nature-positive profession.
At WeNaturalists, we have always maintained that sustainability must be the 'operating system' of the future. The government’s thrust on upskilling 10,000 guides and operationalizing 20 national waterways—starting with NW-5 in Odisha—creates a massive opportunity for our 'people-of-nature' to lead the 7% GDP momentum.
By integrating High-Speed Rail as 'growth connectors' and establishing rare earth corridors, we are moving from climate rhetoric to a meticulous, auditable reality. For NGOs and companies in this ecosystem, the road to Atmanirbharta is now inclusive and resilient. This Budget ensures that as we build a developed India, we do so by keeping our relationship with nature at the very core of our prosperity."
Ashok Kumar, General Secretary of Pan IIT Alumni India, says,
“We applaud the Union Budget’s strong data-backed commitments to AI, digital talent infrastructure, and advanced education initiatives. The nationwide labs and tech investments set a powerful foundation for the next generation of innovators, researchers, and creators. This aligns with the IIT ecosystem’s mission to drive excellence, inclusion, and leadership in the global technology landscape.”
The Budget presented by Union Finance Minister Nirmala Sitharaman was a 'kartavya' budget reflecting the NDA government's firm commitment to development, BJP national co-in charge for Tamil Nadu and Karnataka Ponguleti Sudhakar Reddy has said.
The former MLC welcomed the proposal to develop seven high-speed rail corridors: Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, Chennai–Bengaluru, Delhi–Varanasi, and Varanasi–Siliguri, as "environmentally sustainable growth connectors" that will boost regional connectivity, mobility, and economic integration.
Describing it as a kartavya and a visionary budget aimed at inclusive and sustainable national development, Reddy said in a release here on Monday that the Budget reflected the NDA government's firm commitment to the development of all sections of society, with focused initiatives to strengthen MSMEs, empower youth, uplift rural India, and promote balanced regional growth.
He specifically hailed the emphasis on City Economic Regions (CERs), acknowledging cities as engines of growth, innovation, and opportunity.
(PTI)
Prabhat Kumar (IRS), Chairman - Pan IIT Alumni India, says:
"The Union Budget sends a clear signal: India’s next phase of growth will be knowledge-led, technology-driven and deeply inclusive. For the IIT ecosystem, this is both an opportunity and a responsibility. Our faculty and alumni must step forward as the nation’s brain trust, shaping the AI discourse with evidence-based research that balances productivity with employment. The emphasis on clinical trial networks, sector-specific platforms and deep-tech funding underscores the need to move from academic outputs to translational, problem-centric research deployed at scale. Equally important is the role of IITians in mentoring the next tier of institutions and startups, ensuring that expertise is shared, not siloed. Finally, innovation must be inclusive. The focus on women in STEM and grassroots capacity-building calls for IITs to lead by example, embedding diversity into research, entrepreneurship and leadership. The future will be defined not by technology alone, but by how responsibly and equitably we deploy it."
Stock market benchmark indices Sensex and Nifty rebounded in early trade on Monday driven by value-buying in blue-chip firms, after facing massive drubbing on the Budget day.
The 30-share BSE Sensex climbed 302 points to 81,024.94 during initial trade. The 50-share NSE Nifty went up by 59.25 points to 24,884.70.
From the Sensex firms, Adani Ports, Larsen & Toubro, Asian Paints, Bharat Electronics, Eternal, Reliance Industries, Power Grid and HDFC Bank were among the major gainers.
Trent, Titan, ITC and Hindustan Unilever were among the laggards.
(PTI)
While the ruling DMK has claimed often to be sitting pretty ahead of the Assembly polls due by April, the Union Budget presented on February 1, which has initiatives like high speed rail to links for Chennai, has served as more fodder to the state's governing party to target the BJP-led Centre.
However, the BJP has sought to turn the tables saying this year's budget provides massive economic assistance to Tamil Nadu in various sectors, including production, self-reliance, rare earth minerals, infrastructure, tourism, electronics, automobile industry, healthcare, transport, defence, ports, textiles.
BJP leader Narayanan Thirupathy accused the DMK of spreading false narratives that the saffron party-led central government has ignored Tamil Nadu. The Centre has delivered an excellent budget that expands infrastructure, accelerates industrial progress, creates jobs, and increases individual income.
It strengthens Tamil Nadu's industries and paves the way for long-term growth and employment generation.
(PTI)
Mr. Anupam Bansal, Executive Director, Liberty Shoes, says:
"The Union Budget 2026-27 reflects a measured and pragmatic approach to supporting India’s manufacturing-led growth and the broader consumer and retail ecosystem. The emphasis on strengthening domestic production and improving the operating environment for businesses sends a positive signal for organised retail, which is closely linked to the health of India’s manufacturing base.
The continued focus on MSMEs and industrial competitiveness is encouraging, as a resilient vendor and sourcing ecosystem is critical for consumer-facing industries. Over time, such an approach can help improve efficiency, formalisation, and scalability across retail supply chains.
While the Budget does not directly target consumption or retail demand, its broader push towards infrastructure development, ease of doing business, and manufacturing expansion is likely to create supportive conditions for discretionary categories. For retail-led companies like Liberty Shoes, this balanced direction reinforces long-term confidence in India as both a growing consumer market and a competitive manufacturing hub."
The Indian central bank likely intervened before the local spot market opened on Monday, traders said, helping the currency stave off a fall to near record low levels a day after the country's federal budget announcement sent local stocks reeling.
The rupee appeared on course to open near its all-time low of 91.9875 per dollar, but the central bank's intervention helped shore it up to 91.77, a gain of 0.2% from its closing level on Friday.
The intervention seems aimed at "preventing the fall below 92," a trader at a state-run bank said. The Reserve Bank of India has intervened multiple times in recent sessions to stave off the fall.
(Reuters)
The Singapore Indian business community head on Monday welcomed the 2026-27 Union Budget and said it reflects India's continued commitment to long-term, sustainable growth anchored in infrastructure development, digitalisation, innovation and fiscal discipline.
Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in the Parliament on Sunday.
Singapore Indian Chamber of Commerce and Industry (SICCI) said, "For Singapore-based businesses and the Indian diaspora, the Budget reinforces India's focus on strengthening manufacturing, MSMEs, green transition and technology-led productivity areas where Singapore–India collaboration remains both relevant and mutually beneficial."
SICCI welcomes measures that enhance ease of doing business, promote skills development and support entrepreneurship, while creating pathways for deeper trade, investment and talent linkages between India, Singapore and the wider region, SICCI Chairman Neil Parekh said in a statement.
The century-old SICCI serves as a connector, enabler, and advocator, helping companies grow both locally and internationally to its 656 members.
(PTI)
Vinita Krishnan, Executive Director, Khaitan & Co said, "The proposed tax holiday until 2047 for foreign cloud providers using data-centre services, coupled with the requirement to serve Indian customers through an Indian reseller, is a significant investment signal with a clear market-access structure. The commitment to conclude IT services APAs within 2 (two) years should also meaningfully improve certainty and reduce transfer pricing friction for the sector. In addition, the announcement of a 15% safe-harbour margin for IT services and the enhancement of the revenue threshold from INR 300 crore to INR 2,000 crore for such safe harbours are positive and welcome measures."
Ajay Kumar Yadav, CFP CM, Group CEO & CIO of Wise Finserv said, "Union Budget 2026 does not try to create a headline moment. Instead, it quietly focuses on restoring confidence. At a time when global growth is uneven and investors are watching fiscal discipline very closely, the government has chosen to stay steady. This is not a budget meant to impress overnight. It is meant to stand the test of time. By keeping the fiscal deficit at 4.3% of GDP and staying on the debt reduction path, the message is simple and clear: macro stability is a priority, not a bargaining chip.
From a market lens, the continuity in public capital expenditure comes as a relief. Big infrastructure spending has been one of the few consistent drivers of growth, and that commitment remains intact. When this is paired with asset recycling through REITs and InvITs, it supports sectors like infrastructure, capital goods, cement, logistics, and PSU-linked companies. The emphasis on building full manufacturing ecosystems, from semiconductors and electronics to defence, aircraft components, and critical minerals, strengthens the long-term earnings outlook rather than chasing short bursts of consumption-led growth.
The measures aimed at MSMEs are especially relevant on the ground. Faster access to liquidity through TReDS (Trade Receivables Discounting System) and credit guarantees directly tackles delayed payments and working capital stress, which remain daily challenges for small businesses. This matters for jobs, supply chains, and economic stability. Clearer tax and regulatory signals for services, technology, and data centres also reinforce India’s position as a dependable global services hub.
Markets often prefer clarity over excitement. This budget may not spark an immediate rally, but it lowers uncertainty and creates the conditions for more durable growth, stable valuations, and sustained investor confidence."
Nitin Aggarwal, Director of Investment Research and Advisory at Client Associates on Budget 2026 on Telecom and Digital Infrastructure as core growth enablers and on renewables
“The Union Budget 2026 underscores the strategic importance of telecom and digital infrastructure as foundational to India’s future growth and competitiveness. As digital adoption accelerates across enterprises and consumers, the sustainability of telecom operators and the expansion of broadband across both urban and rural India remain key priorities. Budget 2026 is expected to address long-standing structural stress points, including the need for clearer regulatory and fiscal frameworks, rationalisation of levies, and targeted incentives for network expansion. Enhanced support for data centres and digital backbone networks can catalyse investment in high-capacity, resilient infrastructure that underpins the broader digital ecosystem. This policy direction reflects a recognition that digital infrastructure is not merely a consumption sector, but a critical enabler of productivity, innovation, and economic participation.
From an equity investor’s perspective, the Budget’s emphasis on structural enablers aligns with a focus on quality and execution visibility. Telecom companies with sustainable cost structures and regulatory clarity are better positioned to translate long-term demand growth into earnings stability. At the same time, digital infrastructure segments such as data centres and fibre networks benefit from scalable revenue models and strong secular adoption trends. In a volatile macro environment, Budget 2026’s focus on foundational digital infrastructure strengthens the case for selective exposure to businesses capable of delivering durable, policy-aligned returns.”
Budget 2026 Signals a Shift from Capacity Targets to Execution-Led Growth in Renewable
“The Union Budget 2026 reinforces the pivotal role of the renewable energy and power sector in India’s long-term growth story, signalling a shift from headline capacity targets toward deeper structural support. With India having already added record renewable capacity, the focus now rightly moves to reliable grid integration while maintaining affordability and energy security. In this context, Budget 2026 is expected to prioritise grid modernisation, energy storage, and transmission infrastructure to bridge the gap between planned capacity and operational delivery. These measures address key execution risks around intermittency and reliability, while also supporting domestic manufacturing of solar and storage components. A sharper focus on battery storage, smart grids, and green hydrogen underlines a more mature policy stance aimed at strengthening end-to-end ecosystem capabilities.
From an equity perspective, this narrative aligns with an emphasis on quality of earnings and structural differentiation. Renewable energy is no longer driven solely by capacity additions; growth will increasingly favour companies capable of executing complex infrastructure projects, managing technological integration, and monetising grid-dependent revenue streams. Investors should therefore look beyond headline capacity numbers and prioritise firms with strong balance sheets, proven execution track records, and strategic positioning in storage and grid solutions. Budget 2026 deepens the sector’s long-term growth foundation while underscoring execution excellence as the key to translating macro tailwinds into sustainable equity returns.”
"This is a budget with helpful tax proposals, achieved without any revenue giveaway, and with no change to the headline tax rates for corporates or individuals," Gokul Chaudhri, President - Tax, Deloitte India, says.
"There are nearly 100 tax amendments that mostly seek to help taxpayers with improved tax certainty as India migrates to a new direct tax law on April 1, 2026. The new law, as previously legislated, is designed to be simpler; budget 2026, makes it also less rigorous on penalties with ease for small taxpayers. Two sectors get a definitive boost - service export by IT sector which now has a broader sweep to include GCCs will enjoy a pragmatic safe harbor of 15.5 percent arm-length, and data centres which get a tax holiday until 2047. This sends a clear policy message that India seeks to rapidly grow its dominant position in the global services industry. Several provisions such as impetus to the orange "creative sector" economy to funding for skilling initiatives supplement the tax initiatives. Clearly the path to Viksit Bharat will be based on high growth for new age services and digital infrastructure play," he adds.
Union Budget allocation for Jal Jeevan Mission slashed to Rs 17,000 crore is attempt to stall project, says Tamil Nadu CM Stalin.
Here's what George Alexander Muthoot, Managing Director, Muthoot Finance, has to say on the Union Budget 2026-27 and its implications for NBFCs, MSMEs
“As an NBFC deeply embedded in India’s household and MSME economy, we welcome the Union Budget 2026-27’s clear recognition of NBFCs as key enablers of credit delivery for Viksit Bharat, along with the proposed comprehensive review of the banking ecosystem. This reinforces the importance of diversified, last-mile lending models in expanding formal credit access across semi-formal and informal segments of the economy. Measures such as the Rs. 10,000 crore SME Growth Fund, deeper integration of TReDS with credit guarantee mechanisms, and initiatives to strengthen corporate bond markets are expected to meaningfully improve liquidity and financing options for MSMEs and small entrepreneurs.
At a macro level, the Budget reflects a fiscally disciplined framework that prioritises sustainable, long-term growth over short-term stimulus. The Government’s commitment to fiscal consolidation, evident in the reduction of the fiscal deficit to 4.3% of GDP and an increase in public capital expenditure to Rs. 12.2 lakh crore, provides a stable foundation for growth, particularly in an environment of global uncertainty.
The focus on Tier II and Tier III cities, rejuvenation of legacy industrial clusters, and technology-led compliance simplification aligns well with the operating realities of India’s informal and semi-formal economy. As a household-focused lender with deep roots across the country, we see this Budget as reinforcing the role of responsible, customer-centric NBFCs in supporting entrepreneurship, consumption-led growth and financial inclusion, while maintaining financial stability.”
Saurabh Marda, Co-Founder & Managing Director, Freyr Energy says, "The restructuring of REC and PFC is a welcome step that could strengthen financing for solar projects. These institutions play a critical role in enabling consumer solar adoption—many of our residential customers access loans through NBFCs and banks that ultimately source capital from REC and PFC. Improved operational efficiency and lending capacity at these institutions should translate to better access and terms for consumer solar financing.
The customs duty exemption on solar glass manufacturing inputs, along with the continued support for Battery Energy Storage Systems, reinforces the government’s commitment to building a robust domestic clean energy ecosystem. Combined with the PM Surya Ghar program’s momentum—now serving 2.5 lakh households—we’re seeing strong tailwinds for distributed solar adoption in India.
At Freyr Energy, we’re focused on leveraging these policy supports to make solar more accessible and affordable for the millions of Indian households ready to make the switch to clean energy."
"The Budget’s focus on integrated development of reservoirs and coastal fisheries represents a decisive shift from volume-driven output to value-led growth. By strengthening value chains through FFPOs, women-led enterprises, and assured market linkages, along with integrated livestock, dairy, and poultry initiatives, it enhances income stability and formalisation. At BlackSoil, our investments across the fisheries and agri-value chain ecosystem allow us to provide scalable credit solutions, unlocking predictable cash flows and enabling working capital and capex finance for these supply chains," Gaurav Bagrodia, President of Business of SaralSCF, BlackSoil, says.
Mumbai Congress president Varsha Gaikwad termed the budget 2026-27 “directionless and anti-people”. It has “no vision for growth. No plan to create jobs. No intent to control inflation. No commitment to reduce inequality”. sajs said.
“At a time of global uncertainty, bold economic reforms were needed. But the Union Budget 2026–27 once again proves that the Modi Sarkar has no Roadmap for India’s future. And shame on the government for betraying Maharashtra, yet again. Maharashtra contributes the highest share to the nation’s coffers, but the UnionBudget2026 offers nothing in return. The MahaBrashth Yuti boasted that a “double-engine sarkar” would benefit the state, yet once again, Maharashtra has been given step-motherly treatment,” Gaikwad said.
“We welcome the government’s decision to rationalize the TCS rate on foreign remittances for education-related expenses from 5% to 2% in the Union Budget 2026. This is a progressive step that will ease the financial burden on Indian families supporting overseas education aspirations. Extending the same relief to medical remittances provides meaningful support to families managing healthcare needs abroad,” says Gagan Malhotra, COO, BookMyForex.com.
Jayesh Sanghvi, Tax Partner, EY India, says, "The Union Budget 2026 is anchored around three kartavyas - accelerating economic growth, fulfilling people’s aspirations, and ensuring access to resources for every family under Viksit Bharat. To achieve these objectives, the Hon’ble Finance Minister has emphasised structural reforms, fiscal consolidation and ease of doing business, alongside reinforced public investment and financial sector resilience. The Budget reiterates a capex‑led strategy while pursuing deficit reduction. The policy thrust spans manufacturing competitiveness, MSME scaling and infrastructure risk‑sharing."
Nitin Lahoti, Founder & Director, Mobisoft Infotech, says the Budget 2026-27 showcases technology as a core growth engine instead of being just a support function. "The Union Budget 2026 sends a strong signal that technology is no longer a support function but a core growth engine for India. The focused push on AI, semiconductors, data centres, and digital infrastructure will accelerate innovation, attract global investments, and help Indian tech companies move up the value chain. This budget lays a solid foundation for India’s journey towards becoming a trusted global technology hub," he said.
Gayathri Parthasarathy, partner and leader, financial Services in PwC India, says, "Union Budget 2026–27 reinforces the government’s dual priority of sustaining growth while maintaining fiscal discipline. Continued high capital expenditure in infrastructure, manufacturing, digital public infrastructure, and energy transition is expected to crowd in private investment and strengthen India’s long-term growth trajectory. A key highlight is the strong emphasis on financial sector reforms. The banking system was described as healthier and more resilient—with improved asset quality, stronger balance sheets, and rising profitability. A high-level committee on banking has been proposed to align the sector with India’s next growth phase and help in achieving Viksit Bharat goals. This committee will undertake a comprehensive review of the banking sector’s structure, governance, and future readiness to meet India’s expanding credit needs, while safeguarding stability and consumer interests,"
"Public sector banks are set to see further governance and technology-driven reforms aimed at improving efficiency and competitiveness. The Budget also includes the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), alongside a comprehensive review of the Foreign Exchange Management (FEMA) (non-debt instruments) Rules. Additionally, the Budget underscores the growing role of non-banking financial companies (NBFCs) in expanding credit access and calls for deeper insurance penetration. It further provides an incentive of ₹100 crore for single issuance of municipal bonds of more than ₹1,000 crore and introduces a market-making framework and total return swaps on corporate bonds—supported by tax measures such as raising the STT on futures from 0.02% to 0.05% and increasing STT on options premium and exercise of options to 0.15% from 0.1% and 0.125%, respectively.
Together, these measures point to a reform-led push to build a stronger, more inclusive financial ecosystem," says Parthasarathy
On Union Budget, TMC MP Abhishek Banerjee showed dissatisfaction with the Budget, saying that the finance minister did not one mention West Bengal. He went on to call the Budget "faceless, baseless, and visionless."
“You all were there in the House, and the Union Finance Minister spoke for 1 hour 25 minutes. In this entire time, West Bengal was not mentioned even once. This budget also didn’t mention youth, farmers, or employment... This budget is faceless, baseless, and visionless.”
VIDEO | Union Budget 2026-27: TMC MP Abhishek Banerjee (@abhishekaitc) said, “You all were there in the House, and the Union Finance Minister spoke for 1 hour 25 minutes. In this entire time, West Bengal was not mentioned even once. This budget also didn’t mention youth, farmers,… pic.twitter.com/DoEcHlKfri
— Press Trust of India (@PTI_News) February 1, 2026
Rajinsh Gupta, Partner, Tax and Economic Policy Group, EY India:
India has significant resources of rare earths and this will bring them to production in a shorter time frame. A coordinated national framework can crowd in private investment, enable faster clearances and link mining with downstream applications such as EVs, electronics and defence. Such corridors can also reduce India’s import dependence over time and position the country as a trusted alternative supplier in global critical mineral value chains. Customs duty concessions on processing equipment will support scale, efficiency and competitiveness in the rare earth value chain.
Satyam Shivam Sundaram, Partner, Government and Public Sector, EY India said, “The economic survey notes that the logistics costs remain high at ~13-14% of the GDP, constraining competitiveness. Waterways offer a lower cost & fuel efficient alternative for bulk cargo, easing pressure on rail and road. When paired with plug-and-play industrial parks and multimodal connectivity under PM Gati Shakti, they enable scale manufacturing, faster project execution and stronger supply-chain resilience. Together, these investments can crowd in private capital, support MSME growth, boost exports and drive more balanced regional development, while reinforcing infrastructure as a productivity-enhancing economic asset rather than mere public spending.”
Satyam Shivam Sundaram, Partner, Government and Public Sector, EY India, “In the last two years, private sector investments were largely focused in sectors with PLI support. PPPs An Infrastructure Risk Fund offering partial credit guarantees can materially de-risk construction and early-operations phases, crowding in banks, insurers and bond investors. This intervention has the potential to materially speed up project implementation on PPP mode.”
Speaking to PTI after Budget, Congress MP Shashi Tharoor said, “I think, by recent years’ standards, it was a fairly short speech and seemed to have lots of subheadings but very few specifics. So it’s very difficult to know what to think. On the big-picture issues, there was nothing there for the middle class and the lower middle class. There was nothing there for the states. In fact, fiscal devolution remains unchanged at 41 per cent, and many states do not have enough money to fulfil their own obligations to their citizens and voters. That has become a genuine concern. There were very, very few details on things like what is going to be where. We in Kerala, for example, have been waiting almost 15 years for an All India Institute of Medical Sciences. No announcement came. There was a reference to All India Institutes of Ayurveda being established, but no indication as to where. Kerala would imagine that, as a major centre of Ayurveda, it should be a logical place, but they haven’t promised us that. In fact, Kerala was only mentioned in the context of rare earths and the turtle trail. Even when coconuts and cashews were talked about, the state wasn’t mentioned. So I’m assuming that some of these subheadings she spoke about will translate into concrete projects and programmes for us. Cashews are important, fisheries are important, but where details came, we had reason for disappointment...”
VIDEO | Union Budget 2026–27: Speaking to PTI, Congress leader Shashi Tharoor says, “I think, by recent years’ standards, it was a fairly short speech and seemed to have lots of subheadings but very few specifics. So it’s very difficult to know what to think. On the big-picture… pic.twitter.com/PZVeE8o4oh
— Press Trust of India (@PTI_News) February 1, 2026
On Union Budget, Congress leader KC Venugopal said, "This budget is a total disappointment for Kerala. For the last 10 years, promises have been made about the AIIMS for Kerala, but there is no mention of it in this budget. Kerala contributes significantly to sectors like tourism, aviation, and health, yet nothing concrete has been allocated for the state. The announcements made, including one corridor for mineral resources, seem targeted at others. This budget is not for the common people; it is for big corporates."
VIDEO | On Union Budget 2026-27, Congress leader KC Venugopal says, "This budget is a total disappointment for Kerala. For the last 10 years, promises have been made about the AIIMS for Kerala, but there is no mention of it in this budget. Kerala contributes significantly to… pic.twitter.com/PSNXGR9d0V
— Press Trust of India (@PTI_News) February 1, 2026
“The Union Budget 2026–27 is a bold step toward transforming India into a global healthcare talent powerhouse. By combining a massive expansion in medical seats with targeted skilling for over a lakh caregivers and allied professionals, the government is not just building hospitals it is building the human foundation of a resilient, Viksit Bharat that can serve both India and the world.
The Budget’s proposal to add 10,000 medical seats in the current year and 75,000 seats over the next five years directly addresses the growing demand for doctors, specialists, and skilled healthcare workers. Alongside this, focused skilling initiatives for caregivers and allied professionals will strengthen frontline healthcare delivery and improve patient outcomes across urban and rural India. Equally important is the government’s push to scale manufacturing across seven strategic and frontier sectors through initiatives such as Biopharma Shakti. This will strengthen domestic capabilities in biologics, biosimilars, and advanced therapies, while reducing import dependence. For the MedTech industry, this creates a multiplier effect driving demand for diagnostics, medical devices, digital health platforms, and AI-enabled clinical tools.
Overall, these measures will benefit the healthcare industry as a whole by improving talent availability, strengthening supply chains, accelerating innovation, and enabling wider adoption of technology. Budget 2026–27 positions healthcare as both a national priority and a long-term growth engine, paving the way for India to emerge as a global leader in healthcare talent, MedTech innovation, and affordable quality care.”
-Mr. Anuj Chahal, Founder and CEO of Maverick Simulation Solutions
'There has been a huge push from the Govt of India to digitise the courts in India, Now with the legal sector standing at the junction of a quantum leap. The convergence of the India AI Mission with ₹ 10,000 Cr+ and the government’s aggressive push for R&D allows us to tackle the 'Iron Triangle of legal tech: Cost, Speed and Accuracy. Having navigated this landscape for a decade and a half, we see the government’s multiple AI Innovation Fund is not just as a fund, but as a validation that Legal AI is the new infrastructure of a developed India'
-Inputs by Hitesh Jirawla, Founder & CEO, Cubictree
'The launch of India Semiconductor Mission 2.0 in the Union Budget 2026-27 is a watershed moment for India’s technology and manufacturing landscape. By significantly expanding support for domestic semiconductor equipment, materials, design, and supply-chain capabilities, ISM 2.0 will accelerate India’s journey towards self-reliance in advanced chips and position the country as a globally competitive semiconductor hub. Coupled with the strategic decision to establish dedicated rare earth corridors across mineral-rich states — strengthening mining, processing, research and manufacturing of critical minerals — this Budget not only deepens the foundation for high-tech growth but also enhances supply-chain resilience in sectors from electronics to defense and clean energy. Together, these initiatives will drive innovation, high-skilled employment, and India’s role in resilient global value chains'
-Manu Iyer, General Partner and Co-founder, Bluehill.VC
'Indian Semicon is at a very nascent stage and needs a lot of hand holding and policy support, ISM 2.0 will certainly help in mushrooming genuine Semicon use cases and will make India self reliant. Additionally ₹ 40000 CR deployment for electronic components will help resolving supply issues for development. Both the initiatives will help the industry a lot, great policy decision by FM.
The launch of Bharat Vistaar will go a long way in helping the farming sector, the combination of real time data from satellite and AI application can help farmers take informed decisions in improvings farm productivity and also different mix of produce. The announcement of 4 telescope centres will be a big help to astro physics and study the celestial objects and built India’s own self reliant mechanism to study the space and development of respective projects'.
New safe harbour rules with the mark-up of 15.5 percent and coverage till 2,000 crores will bring down the transfer pricing litigation drastically
Having a time bound closure of unilateral APAs of 2 to 2.5 years is a big positive to bring down the pendency of APAs and will provide timely tax certainty to MNCs who apply for APAs
Tax holiday for data centres till 2047 with a safe harbour of cost plus 15 percent will encourage enhanced investment in the cloud services space
- Sanjiv Malhotra, Senior Advisor- Head of Tax Practice, Shardul Amarchand Mangaldas & Co.
The Congress party on Sunday reacted to the Union Budget presented by Finance Minister Nirmala Sitharaman in Parliament.
The official handle of the party took to X, saying, "Share market crashes due to Modi's fake budget"
मोदी के फर्जी बजट से शेयर मार्केट धड़ाम🔻
— Congress (@INCIndia) February 1, 2026
On Union Budget 2026-27, Confederation of Indian Industry (CII) President Rajiv Memani said, "Our reaction to the Budget is positive as it fulfills the demands of the industries, including those of the MSMEs. There is also a focus on the services. The government has also heard concerns about tax simplification. Capex has also increased by 10-12% this time."
#watch | Delhi | On Union Budget 2026-27, Confederation of Indian Industry (CII) President Rajiv Memani says, "Our reaction to the Budget is positive as it fulfills the demands of the industries, including those of the MSMEs. There is also a focus on the services. The government… pic.twitter.com/v8AcrTzwS6
— ANI (@ANI) February 1, 2026
On Budget 2026, BJP MP Nishikant Dubey said, "This year's budget will be historic. Given the free trade agreement we have signed with the European Union and the fact that our country's economy is the fourth-largest in the world, the world has high expectations for India's budget. The budget will undoubtedly be spectacular."
"In the upcoming Budget, there is an opportunity to accelerate India’s next phase of economic growth by enabling targeted tax concessions and concessional bank credit for investments in critical sectors such as Information Security, AI, R&D, and Global Capability Centres (GCCs). In a rapidly evolving geopolitical and regulatory environment, including frameworks like the DPDP Act, such support will help businesses build resilient, compliant, and future-ready capabilities.
Additionally, for the SaaS sector, which faces inherent working capital challenges due to delayed client payments despite timely obligations to MSME and critical vendors, allowing a 45-day window from the start of the next quarter to pay the total GST due would significantly ease cash flow pressures. This will unlock liquidity that can be reinvested into innovation, expansion, and job creation," said - Mr. Nitin Singhal, Managing Director at Sinch India.
Introduce tax incentives that encourage global players to invest in India through long-term capital investments. This shifts the focus away from debt or debt-like instruments, which typically result in cash outflows through interest payments and repayments, and instead promotes patient capital that stays within the country, strengthens domestic businesses, and supports sustained economic growth," says Mr. Nitin Singhal, Managing Director at Sinch India.
Opposition leaders, including Samajwadi Party chief Akhilesh Yadav and TMC MP Kalyan Banerjee, stage protest inside Parliament premises ahead of Budget presentation.
VIDEO | Opposition leaders, including Samajwadi Party chief Akhilesh Yadav and TMC MP Kalyan Banerjee, stage protest inside Parliament premises ahead of Budget presentation.
— Press Trust of India (@PTI_News) February 1, 2026
(Full video available on PTI Videos - https://t.co/n147TvrpG7)#budget2026withpti #unionbudgetwithpti pic.twitter.com/bObqaS2JxT
Ahead of Budget announcement, TMC MP Kalyan Banerjee said, “What will they do in the Budget? They have already exhausted the nation’s finances. Now, PM Modi is pretending to be a saint after selling the country.”
VIDEO | Union Budget 2026: TMC MP Kalyan Banerjee said, “What will they do in the Budget? They have already exhausted the nation’s finances. Now, PM Modi is pretending to be a saint after selling the country.”
— Press Trust of India (@PTI_News) February 1, 2026
(Full video available on PTI Videos - https://t.co/n147TvrpG7)… pic.twitter.com/LRbWsiZlM1
Ahead of Budget announcement, Shiv Sena (UBT) MP Priyanka Chaturvedi said, “Firstly, I’d like to congratulate her (Nirmala Sitharaman) because this is her ninth consecutive budget as a woman finance minister. I hope the Union Budget does not focus on election-going states. As I have said earlier, I don’t want to see a finance minister wearing a Tamil Nadu handloom weave, speaking in Bengali or Malayalam in bits and pieces, and announcing policies for Assam tea gardens simply because the focus is on election-bound states. That would be unfair to the larger section of Indians who are facing inflationary challenges.
VIDEO | Delhi: Shiv Sena (UBT) MP Priyanka Chaturvedi says, “Firstly, I’d like to congratulate her (Nirmala Sitharaman) because this is her ninth consecutive budget as a woman finance minister. I hope the Union Budget does not focus on election-going states. As I have said… pic.twitter.com/hn2nJTQsxn
— Press Trust of India (@PTI_News) February 1, 2026
On Union Budget, Union MoS Railways, V. Somanna said,"...Railways is the growth engine of modern India, it is the strong pillar of Viksit Bharat. PM Modi aims to focus on every sector...This will be an extraordinary Budget..."
#watch | Delhi | On Union Budget, Union MoS Railways, V. Somanna says,"...Railways is the growth engine of modern India, it is the strong pillar of Viksit Bharat. PM Modi aims to focus on every sector...This will be an extraordinary Budget..." pic.twitter.com/bDZVGSPAAE
— ANI (@ANI) February 1, 2026
Ahead of the budget, RJD leader Mrityunjay Tiwari said, "Today for the second time the Union Budget is being presented on a Sunday. Every time, common people have only been left disappointed. This government of Prime Minister Modi works mainly to benefit select people, capitalists and industrialists.", "Today for the second time the Union Budget is being presented on a Sunday. Every time, common people have only been left disappointed. This government of Prime Minister Modi works mainly to benefit select people, capitalists and industrialists."
VIDEO | Union Budget 2026: RJD leader Mrityunjay Tiwari says, "Today for the second time the Union Budget is being presented on a Sunday. Every time, common people have only been left disappointed. This government of Prime Minister Modi works mainly to benefit select people,… pic.twitter.com/l0lAm09LeZ
— Press Trust of India (@PTI_News) February 1, 2026
Ahead of the budget, MP Sanjay Raut said, “A budget comes every year, it has to. When the budget process begins, people across the country, the middle class, the poor, farmers, and workers, have expectations from it. The common people hope for some relief, but that does not happen. I have been observing for the past 10 years that budgets are framed for traders, industrialists, and the wealthy. As for the poor, there are only announcements made in their name. Once again today, we will see what kind of budget Nirmala ji presents.”
VIDEO | Delhi: On budget expectations, Shiv Sena (UBT) MP Sanjay Raut says, “A budget comes every year, it has to. When the budget process begins, people across the country, the middle class, the poor, farmers, and workers, have expectations from it. The common people hope for… pic.twitter.com/ghGdVBW6lU
— Press Trust of India (@PTI_News) February 1, 2026
Ahead of FM Sitharaman’s Budget 2026 presentation, Samajwadi Party MP Akhilesh Yadav said," What expectations can we have from the budget being presented by the govt from whom we don't have any expectations?... In the last few budgets we have seen, it was for only 5% of the people. The govt should assess if it has fulfilled all the promises it had made."
#watch | Delhi | On Union Budget 2026-27, Samajwadi Party MP Akhilesh Yadav says," What expectations can we have from the budget being presented by the govt from whom we don't have any expectations?... In the last few budgets we have seen, it was for only 5% of the people. The… pic.twitter.com/t1ndqSlz52
— ANI (@ANI) February 1, 2026
Ahead of FM Sitharaman’s Budget 2026 presentation, Union Minister Gajendra Singh Shekhawat said, "Have faith. The goal with which the Govermment has been working for the last 11 years, to make this Viksit Bharat - since 2014 all Budgets have been the steps towards that goal. This Budget too will be another step towards making India a Viksit Bharat..."
#watch | #unionbudget2026 | Union Minister Gajendra Singh Shekhawat says, "Have faith. The goal with which the Govermment has been working for the last 11 years, to make this Viksit Bharat - since 2014 all Budgets have been the steps towards that goal. This Budget too will be… pic.twitter.com/vfe64ZEk5c
— ANI (@ANI) February 1, 2026
Ahead of the Union Budget announcement, Union Minister Kiren Rijiju said, "It will be a historic budget. The PM's 'Reform Express' will move forward speedily towards Viksit Bharat."
#unionbudget2026 | Union Minister Kiren Rijiju says, "It will be a historic budget. The PM's 'Reform Express' will move forward speedily towards Viksit Bharat." pic.twitter.com/KZXhPPetg8
— ANI (@ANI) February 1, 2026
Ahead of FM Sitharaman’s Budget 2026 presentation, Rajasthan Deputy CM Prem Chandra Bairwa says, “Since the time PM Narendra Modi took charge of the country, the Budgets that have been presented have focused on the development of Rajasthan, catering to every section and every sector. Even today, we expect a very good budget in the interest of women, farmers, youth, and workers, and we hope that Rajasthan too will receive more beneficial initiatives and gifts.”
VIDEO | Union Budget 2026: Rajasthan Deputy CM Prem Chandra Bairwa said,
— Press Trust of India (@PTI_News) February 1, 2026
"Since the time PM Narendra Modi took charge of the country, the budgets that have been presented have focused on the development of Rajasthan, catering to every section and every sector. Even today, we… pic.twitter.com/IGScqVYLHT
Ahead of the budget announcement, Congress leader Shashi Tharoor said that while the Economic Survey projects good economic growth, the real concern, especially for young people in this country, is whether that growth will be accompanied by jobs.
“We are all looking forward to hearing what the Finance Minister has to tell us. The Economic Survey projects good economic growth, but the real concern, especially for young people in this country, is whether that growth will be accompanied by jobs. Jobless growth does not help anyone. We are therefore keen to see what kind of schemes are planned to generate more employment for the youth..."
VIDEO | Union Budget 2026: Congress MP Shashi Tharoor on budget expectations, says, “We are all looking forward to hearing what the Finance Minister has to tell us. The Economic Survey projects good economic growth, but the real concern, especially for young people in this… pic.twitter.com/jIvhniKDld
— Press Trust of India (@PTI_News) February 1, 2026
Welcome to our live blog.
Union Finance Minister Nirmala Sitharaman is all set to present her ninth consecutive budget this year.
Ahead of the budget, some are hoping for tax relief, some are expecting more focus on healthcare, while others are pitching for reduced cost of education.
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