New Delhi: Union Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026-27 in the Parliament on Sunday morning.

She is set to make history by presenting the budget for the ninth consecutive time.

Here are the live updates:

 

►  Customs duty exemption on video games manufacturing parts removed from April 1: Sitharaman.

►  Customs duty on TV equipment, cameras and other instruments imported by a foreign film unit or TV team for shooting films removed from April 1.

►  Budget proposes new tariff lines to help in better identification of coated pipes for exports: FM Sitharaman.

►  Govt removes customs duty exemption on naphtha for use in fertilisers and metal parts used in manufacture of electrical insulators.

►  Tariff rate on certain items is being modified with effect from Feb 2 and certain others from Apr 1 as part of rate rationalisation: FM.

►  Govt to revise provisions related to baggage clearance during international travel to address genuine concerns of passengers.

►  Govt to exempt duty on fish catch by Indian fishing vessels in exclusive economic zones or high seas.

►  Approval required for cargo clearances will be seamlessly processed through a single window by year end: Sitharaman.

►  Validity for advance period, binding on Customs, extended from 3 years to 5 years: Sitharaman.

►  Budget exempts parts used to manufacture microwave ovens from basic customs duty: FM Sitharaman.

►  FM proposes duty free imports of certain specified inputs for promoting export of leather.

►  Govt will develop 15 archaeological sites, including Lothal, Dholavira, Rakhigarhi, Sarnath and Hastinapur: FM.

►  Govt proposes to extend time period of exports of final products from 6-month to 1-year for exporters of leather, textile garments.

►  Budget proposes to exclude entire value of biogas while calculating excise duty payable on blended CNG: FM Sitharaman.

►  Govt will create five tourism destinations in 5 Purvodaya states and will make provisions for 4,000 e-buses: FM.

►  FM extends exemption on capital goods used for manufacturing lithium ion cells for battery storage.

►  Budget proposes to remove exemptions on customs duties on items manufactured in India or have negligible import.

►  Govt will develop an integrated East Coast Industrial Corridor with well-connected node at Durgapur: FM.

►  Budget proposes to raise Securities Transaction Tax to 0.05 pc on commodity futures from 0.02 pc: FM Sitharaman.

►  MAT to be made final tax; rate reduced to 14 pc, from current 15 pc: Sitharaman.

►  National Destination Digital Knowledge Grid will be established to digitally document all places of significance: FM.

►  Govt proposes joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.

►  Govt to tax buyback proceeds for all types of shareholders as capital gains: FM Sitharaman.

►  Tax Collected at Source rate on liquor, scrap and mineral rationalised to 2 per cent: Sitharaman.

►  FM proposes to exempt Minimum Alternate Tax for non-residents who pay tax on presumptive basis.

►  Budget proposes to rationalise definition of accountants for safe harbour rules to promote home-grown accounting firms: Sitharaman.

►  Threshold for availing safe harbour for IT services is being enhanced from Rs 300 crore to Rs 2,000 crore: FM.

►  Govt allows inter-cooperative societies dividend income as deduction under new tax regime: FM Sitharaman.

►  Budget proposes tax holiday till 2047 to foreign companies that provide cloud services to customers globally by using data centres in India.

►  Govt will set up National Institute of Hospitality by upgrading existing National Council for Hotel Management and catering Technology: FM.

►  In Odisha, Karnataka, and Kerala, key turtle nesting sites along with turtle trails will be developed: FM Sitharaman.

►  Govt extends deduction for cooperative members who supply cotton seeds and cattle feed.

►  FM says NIMHANS-2 (National Institute of Mental Health and Neurosciences) will be set up.

►  Govt to develop ecologically sustainable mountain trails in HP, Uttarakhand, J&K, Araku Valley of Eastern Ghats and Western Ghats, says FM.

►  FM proposes exemptions of 3 years for dividend income received by notified cooperatives on investments made up to January 31, 2026.

►  FM Sitharaman: 50 per cent capacity will be increased in district hospitals by establishing emergency and trauma care centres.

►  No interest liability on taxpayer on penalty amount for period of appeal before 1st appellate authority, irrespective of outcome: FM.

►  FM proposes a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIs.

►  Govt proposes reduction in TCS rate for pursuing education and medical education under liberalised remittance scheme from 5 pc to 2 pc.

►   ax Collected at Source (TCS) rate on sale of overseas tour packages cut to 2 pc from 5 pc and 20 pc earlier: FM.

►  Govt proposes to exempt award given by Motor Accident Claims Tribunal from income tax, says FM.

►  FM proposes to increase time limit for filing revised I-T return from December 31 to March 31, on payment of nominal fee.

►  FM Proposes rule-based automated process for small taxpayers in FY27 Budget: Sitharaman.

►  Sitharaman Proposes Rs 100-Crore Incentives For Single Bond Issuance By Municipal Corporations.

►  Centre To Set Up NIMHANS 2 In North India, Announces FM Nirmala Sitharaman.

►  Govt to borrow Rs 11.7 lakh crore in FY27 from dated securities to fund its fiscal deficit.

►  Income Tax Act, 2025, to be implemented from April 1; rules and tax returns forms to be notified shortly: Sitharaman.

►  Net tax receipts estimated at Rs 28.7 lakh crore, Budget size at Rs 53.5 lakh crore. Sitharaman.

►  Govt provides Rs 1.4 lakh crore as tax devolution to states in FY27: FM.

►  Fiscal deficit pegged at 4.3 pc of GDP in FY'27, lower than 4.4 pc in FY'26: Sitharaman.

►  Govt proposes to lower debt-to-GDP ratio to 55.6 pc per cent in FY27, from 56.1 pc in current fiscal: Sitharaman.

►  Govt to launch scheme for development of Buddhist circuit in North East region to preserve temple, monastries: FM Sitharaman.

►  FM allocates Rs 5,000 crore for CITY Economic Regions (CERs) over 5 years.

►  New Income Tax Act will come into effect from April 1: Sitharaman.

►  Finance Minister Announces Rs 5,000 Crore Per CER Outlay For Tier II, Tier III Cities And Temple Towns.

►  FM proposes to support Artificial Limbs Manufacturing Corporation of India to scale up production of assisted devises for divyangjan.

►  FM proposes setting up of 'She Marts' as community-owned retail outlets.

►  FM proposes to launch Bharat Vistar, a multilingual AI tool to integrate agri stack.

►  Govt proposes credit link subsidy programme, encourage livestock farmer producer organisations to promote employment opportunities: FM.

►  Govt will create a network of over 1,000 accredited Indian Clinical Trial sites: FM.

►  Centre to partner with states to restore glory of sandalwood ecosystem: Sitharaman.

►  Govt proposes coconut promotion scheme to increase production, productivity.

►  Govt to support high-value crops such as coconut, sandalwood, walnuts: FM.

►  Govt will develop cadre of 'Corporate Mitras' in Tier-II, Tier III towns to help MSMEs: FM Sitharaman.

►  FM proposes 'Education to Employment and Enterprise' Standing Committee to recommend measures focusing on services sector.

►  FM proposes to develop 15 archeological sites, including Lothal and Hastinapur.

►  Khelo India Mission to transform sports sector over next decade: Sitharaman.

►  We will develop ecologically sustainable trails in Himachal Pradesh, Utttarakhand and Jammu and Kashmir: Sitharaman.

►  Govt to launch pilot scheme to upgrade skills of 10,000 guides at 20 iconic tourist sites: FM Sitharaman.

►  FM proposes setting up of ‘She Marts’ as community-owned retail outlets.

►  FM proposes to launch Bharat Vistar, an AI tool to integrate agri stack.

►  Turtle trails along key nesting sites in Orissa, Karnataka, Kerala to be developed says FM.

►  Budget proposes to upgrade WHO Global Traditional Medicine Centre at Jamnagar, Gujarat.

►  Govt to set up one girls' hostel in every district of country: FM Sitharaman.

►  FM proposes upgradation of Ayush pharmacies and drug testing labs, WHO Traditional Medicine Centre at Jamanagar.

►  Centre to support 5 university townships in vicinity of major industrial logistics centres: Sitharaman.

►  FM proposes loan-linked capital subsidy support scheme for veterinary collages, hospitals, diagnostics laboratories.

►  FM proposes setting up 3 new All India Institute of Ayurveda.

►  Budget proposes Biopharma SHAKTI with an outlay of Rs 10,000 crore over next 5 years: FM Sitharaman.

►  Budget proposes to support of Indian Institute of Creative Technologies Mumbai for setting up content labs in 15,000 secondary schools.

►  Govt proposes scheme to strengthen domestic manufacturing of high-value, technology-advanced capital goods and infrastructure equipment.

►  Govt to support states in setting up five hubs for medical tourism: Sitharaman.

►  Govt will continue to focus on developing infrastructure in cities with over 5 lakh population: FM Sitharaman.

►  FM proposes raising investment limit for individual PIO from 5 pc to 10 pc.

►  FM proposes dedicated programme to support high-value crops like coconut, sandalwood and cashew in coastal regions.

►  Existing institutions for allied health professionals to be upgraded: Sitharaman.

►  Person of Indian Origin (PIO) permitted to invest in equity instruments, listed indian companies through Portfolio Investment Scheme: FM.

►  FM proposes to market making framework with suitable access to funds and derivatives on corporate bond indices.

►  Finance Minister proposes to restructure REC, PFC as part of public sector financial institution strengthening.

►  FM proposes incentive of Rs 100 crore for single bond issuance by municipal corporation of more than Rs 1,000 crore.

►  Budget proposes to review foreign exchange management non-debt instruments rules: Sitharaman.

►  FM proposes developing 7 high speed corridors between cities as growth connectors.

►  Propose setting up high level committee on 'Banking for Viksit Bharat': Sitharaman.

►  Outlay of Rs 20,000 cr proposed for launch of carbon capture and utilisation scheme across sectors like steel and cement: FM.

►  FM proposes incentives for indigenous manufacturing of sea planes.

►  New dedicated freight corridor from Dankuni in East to Surat in West to promote environmentally sustainable movement of cargo: Sitharaman.

►  FM proposes setting up of Infrastructure Risk Fund to strengthen private developers risk management.

►  Finance Minister proposes to raise capex target to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for current fiscal.

►  Propose to set up infrastructure risk guarantee fund for infra sector: Sitharaman.

►  Govt proposes to support professional institutions like ICAI, ICSI to design short term modular courses.

►  Budget 2026-27 proposes Natural Fibre Scheme, Textile Expansion and Employment scheme, National Handloom and Handicraft programe.

►  FM proposes to make TReDS as transaction platforms for all purchases from MSMEs by central public sector enterprises.

►  FM Sitharaman proposes to top up Self Reliance India Fund with Rs 4,000 cr in FY27 to support MSMEs.

►  Budget proposes to set up Rs 10,000 crore to create champion SMEs: Sitharaman.

►  India has potential to emerge as a global hub for high-quality affordable sports goods: FM.

►  Propose Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi handloom: Sitharaman in Budget FY'27.

►  FM proposes setting up mega textile parks with focus on value addition to technical textiles.

►  A scheme for enhancement for construction and infrastructure equipments will be introduced to strengthen domestic manufacturing: FM.

►  FM proposes scheme for container manufacturing to create globally competitive ecosystem.

►  FM proposes setting up of 3 dedicated chemical parks to enhance domestic production, reduce import dependency.

►  High-tech tool rooms to be established at two locations to give push to capital goods manufacturing: FM.

►  FM proposes to increase outlay on electronic manufacturing to Rs 40,000 cr in FY27 budget.

►  FM proposes to support mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish critical mineral facilities.

 

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New Delhi (PTI): The Congress on Sunday said the Union Budget was "totally lacklustre" and fell woefully short of the hype that was generated around it.

Congress general secretary, Communications, Jairam Ramesh said the budget speech given by Union Finance Minister Nirmala Sitharaman was also "non-transparent" as it gave no idea of the budgetary allocations for key programmes and schemes.

"While the documents need to be studied in detail, it is clear after 90 minutes that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre," Ramesh said in a post on X.

"The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations for key programmes and schemes," he said.

In her speech, Sitharaman announced that the target for capex will be raised to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for the current fiscal year.

She also announced a slew of measures to boost infrastructure in the country, including in tier-2 and tier-3 cities.

The budget came in the backdrop of global uncertainties, trade frictions and US tariffs and slowdown in exports.

This is the third budget of the BJP-led NDA government in its third term in office.

While the documents need to be studied in detail, it is clear after 90 mins that Budget 2026/27 falls woefully short of the hype that was generated about it. It was totally lacklustre. The speech was also non-transparent since it gave no idea whatsoever of budgetary allocations…

— Jairam Ramesh (@Jairam_Ramesh) February 1, 2026