Union Finance Minister Nirmala Sitharaman on Sunday said the government has chosen the path of reforms over rhetoric. Presenting the Budget for 2026-27 in Lok Sabha, she said India will continue to take steps towards becoming a Viksit Bharat.The Finance Minister also laid the 16th Finance Commission report for tax revenue devolution between the Centre and states for 2026-2031. This Union Budget is Finance Minister Nirmala Sitharaman’s 9th consecutive Budget.This takes Sitharaman closer to the record of 10 budgets that were presented by former Prime Minister Morarji Desai over different time periods.Over Rs 95,000 crore allocated for VB-G RAM G, MGNREGA gets Rs 30,000 crore in BudgetFebruary 1, 2026 2:26 pmAs the VB-G RAM G scheme is set to be rolled out, the Centre has allocated Rs 95,692.31 crore for it, while an allocation of Rs 30,000 crore has been made for the MGNREGA. The Viksit Bharat-Guarantee for Rozgar Aajeevika Mission (Grameen) (VB-G RAM G), which promises 125 days of work in a year, will replace the two-decade-old UPA-era rural employment scheme framed under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005. The MGNREGA scheme will continue till the VB-G RAM G is implemented, and the pending works are completed, Rural Development Ministry officials have said.This year’s Budget is foundation for our journey towards Viksit Bharat by 2047: PM ModiFebruary 1, 2026 2:15 pmPM Modi says the budget strengthens foundation of India’s bright future. “This year’s budget will give India’s ‘reform express’ new energy and momentum,” says the PM.Highway of opportunities: PM Modi on Union BudgetFebruary 1, 2026 2:14 pmBudget is historic; reflects empowered presence of nation’s feminine strength, says the PM.Jammu and Kashmir allocated Rs 43,290 crore in Union BudgetFebruary 1, 2026 1:35 pmAccording to Budget documents, out of the total allocation, Rs 42,650 crore has been allocated as Central assistance. https://www.Jattvibe.com/news/j-k/jk-allocated-rs-43290-crore-in-union-budget/Totally lacklustre, falls short of hype: Congress on Union BudgetFebruary 1, 2026 1:32 pmCongress leader Jairam Ramesh says the budget speech given by Nirmala Sitharaman was “non-transparent” as it gave no idea of the budgetary allocations for key programmes and schemes. https://www.Jattvibe.com/news/india/totally-lacklustre-falls-short-of-hype-congress-on-union-budget/Income tax slabsFebruary 1, 2026 12:38 pmFM wraps up her Budget speech, no changes in income tax rates proposed this year after last year’s mega announcements.Approval required for cargo clearances will be seamlessly processed through a single window by year end: SitharamanFebruary 1, 2026 12:37 pmGovt to exempt duty on fish catch by Indian fishing vessels in exclusive economic zones or high seas; to revise provisions related to baggage clearance during international travel to address genuine concerns of passengers.Customs duty exemption on video games manufacturing parts removed from April 1: SitharamanFebruary 1, 2026 12:37 pmCustoms duty on TV equipment, cameras and other instruments imported by a foreign film unit or TV team for shooting films removed from April 1.Govt to support Artificial Limbs Manufacturing Corporation of India to scale up production of assistive devices: FM SitharamanFebruary 1, 2026 12:35 pmBudget exempts parts used to manufacture microwave ovens from basic customs duty, says FM Sitharaman.Validity for advance period, binding on Customs, extended from 3 years to 5 years: SitharamanFebruary 1, 2026 12:35 pmFM proposes duty free imports of certain specified inputs for promoting export of leather. Customs duty exemptions removed on coffee roasting/brewing/vending machines, CD-ROMs containing books or newspaper from February 2, says Sitharaman.Budget proposes to exclude entire value of biogas while calculating excise duty payable on blended CNG: FM SitharamanFebruary 1, 2026 12:34 pmProposes to extend time period of exports of final products from 6-month to 1-year for exporters of leather, textile garments.Govt will create five tourism destinations in 5 Purvodaya states and will make provisions for 4,000 e-buses: FMFebruary 1, 2026 12:34 pmSitharaman says government will develop 15 archaeological sites, including Lothal, Dholavira, Rakhigarhi, Sarnath and Hastinapur.Govt will develop an integrated East Coast Industrial Corridor with well-connected node at Durgapur: FMFebruary 1, 2026 12:33 pmFM extends exemption on capital goods used for manufacturing lithium ion cells for battery storage.Budget proposes to raise Securities Transaction Tax to 0.05 pc on commodity futures from 0.02 pc: FM SitharamanFebruary 1, 2026 12:33 pmProposes to remove exemptions on customs duties on items manufactured in India or have negligible import.MAT to be made final tax; rate reduced to 14 pc, from current 15 pc: SitharamanFebruary 1, 2026 12:33 pmTariff rate on certain items is being modified with effect from February 2 and certain others from April 1 as part of rate rationalisation, says FM.Govt to tax buyback proceeds for all types of shareholders as capital gains: FM SitharamanFebruary 1, 2026 12:32 pmTax Collected at Source rate on liquor, scrap and mineral rationalised to 2 per cent, says Sitharaman.Budget proposes new tariff lines to help in better identification of coated pipes for exports: FM SitharamanFebruary 1, 2026 12:32 pmNo customs duty on goods used to manufacture battery energy storage systemFebruary 1, 2026 12:29 pmTo extend basic customs duty exemption for capital goods used to manufacture Battery Energy Storage System (BESS).Govt proposes joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standardsFebruary 1, 2026 12:27 pmBudget proposes to rationalise definition of accountants for safe harbour rules to promote home-grown accounting firms: SitharamanFebruary 1, 2026 12:24 pmFM says National Destination Digital Knowledge Grid will be established to digitally document all places of significance.FM proposes to exempt Minimum Alternate Tax for non-residents who pay tax on presumptive basisFebruary 1, 2026 12:24 pmGovt allows inter-cooperative societies dividend income as deduction under new tax regime: FM SitharamanFebruary 1, 2026 12:22 pmThreshold for availing safe harbour for IT services is being enhanced from Rs 300 crore to Rs 2,000 crore: FMFebruary 1, 2026 12:22 pmGovt will set up National Institute of Hospitality by upgrading existing National Council for Hotel Management and catering Technology: FMFebruary 1, 2026 12:22 pmBudget proposes tax holiday till 2047 to foreign companies that provide cloud services to customers globally by using data centres in IndiaFebruary 1, 2026 12:21 pmFinance Minister Nirmala Sitharaman proposed tax holiday till 2047 for foreign companies that provide cloud services to customers worldwide by using data centres in the country. The tax holiday will be extended to the entities concerned subject to certain conditions. In the Union Budget 2026-27 speech, Sitharaman said there is a need to enable critical infrastructure and boost investment in data centres.Govt extends deduction for cooperative members who supply cotton seeds and cattle feedFebruary 1, 2026 12:20 pmIn Odisha, Karnataka, and Kerala, key turtle nesting sites along with turtle trails will be developed: FM SitharamanFebruary 1, 2026 12:19 pmFM says NIMHANS-2 (National Institute of Mental Health and Neurosciences) will be set upFebruary 1, 2026 12:19 pmStates to get 41% share in fund transfers, Rs14 lakh crore allocated, says FMFebruary 1, 2026 12:18 pmFM announced that it will maintain a 41% share for states in the transfer of funds, following the recommendations of the 16th Finance Commission; for the financial year 2026-27, the Central Government has allocated Rs 14 lakh crore to the states, ensuring resources for development and welfare initiatives across the country.50 per cent capacity will be increased in district hospitals by establishing emergency and trauma care centres: FM SitharamanFebruary 1, 2026 12:17 pmFM proposes exemptions of 3 years for dividend income received by notified cooperatives on investments made up to January 31, 2026February 1, 2026 12:16 pmNo interest liability on taxpayer on penalty amount for period of appeal before 1st appellate authority, irrespective of outcome: FMFebruary 1, 2026 12:16 pmFM proposes a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIsFebruary 1, 2026 12:15 pmTax Collected at Source (TCS) rate on sale of overseas tour packages cut to 2 pc from 5 pc and 20 pc earlier: FMFebruary 1, 2026 12:15 pmProposes reduction in TCS rate for pursuing education and medical education under liberalised remittance scheme from 5 per cent to 2 per cent.FM announces simplified tax rules for NRIsFebruary 1, 2026 12:15 pmExtended time to revise returns with payment of a nominal fee; individuals filing ITR-1 and ITR-2 can continue to file till July 31; non-audit business cases and trusts will be allowed to file returns till August 31; TDS on sale of immovable property by NRIs will now be deducted by the resident buyer, replacing the earlier requirement of quoting a TAN.Time limit for filing revised I-T returns extended to March 31February 1, 2026 12:13 pmFM proposed extending the time limit for filing revised income-tax returns from December 31 to March 31, with the provision to do so on payment of a nominal fee.Targeted effort to increase farmer incomeFebruary 1, 2026 12:12 pmTo provide special attention to small farmers; to empower the vulnerable to access mental health and trauma care; to undertake initiatives to develop 500 reservoirs; to strengthen the fisheries value chain in coastal areas; to support animal husbandry through a credit-linked subsidy programme; to encourage the creation of livestock farmer producer organisations; to support high-value crops such as coconut, sandalwood, and cashew in coastal areas; to support the generation of walnuts in hilly regions; to enhance competitiveness in coconut production and to launch a dedicated programme proposed for the Indian cashew and cocoa.Govt removes customs duty exemption on naphtha for use in fertilisers and metal parts used in manufacture of electrical insulatorsFebruary 1, 2026 12:11 pmGovt proposes to exempt award given by Motor Accident Claims Tribunal from income tax, says FMFebruary 1, 2026 12:07 pmFM Proposes rule-based automated process for small taxpayers in FY27 Budget: SitharamanFebruary 1, 2026 12:07 pmNet tax receipts estimated at Rs 28.7 lakh crore, Budget size at Rs 53.5 lakh crore. SitharamanFebruary 1, 2026 12:04 pmIncome Tax Act, 2025, to be implemented from April 1; rules and tax returns forms to be notified shortly: SitharamanFebruary 1, 2026 12:04 pmFinance Minister Nirmala Sitharaman said the Income Tax Act, 2025 will be implemented from April 1 and rules and tax returns forms will be notified shortly. Beginning April 1, the Income Tax Act, 2025, will come into force replacing the six-decade-old tax law and the changes made in tax laws in 2026-27 Budget will be incorporated in the new legislation.Govt to borrow Rs 11.7 lakh crore in FY27 from dated securities to fund its fiscal deficitFebruary 1, 2026 12:04 pmGovt provides Rs 1.4 lakh crore as tax devolution to states in FY27: FMFebruary 1, 2026 12:04 pmFiscal deficit pegged at 4.3 pc of GDP in FY’27, lower than 4.4 pc in FY’26: SitharamanFebruary 1, 2026 12:03 pmhttps://www.Jattvibe.com/news/business/union-budget-fm-pegs-fiscal-deficit-lower-at-4-3-per-cent-of-gdp-for-2026-27/Govt to launch scheme for development of Buddhist circuit in North East region to preserve temple, monastries: FM SitharamanFebruary 1, 2026 12:03 pmGovt proposes to lower debt-to-GDP ratio to 55.6 pc per cent in FY27, from 56.1 pc in current fiscal: SitharamanFebruary 1, 2026 12:02 pmFM allocates Rs 5,000 crore for CITY Economic Regions (CERs) over 5 yearsFebruary 1, 2026 12:02 pmGovt has accepted the recommendations of 16th Finance Commission, retaining 41 pc tax devolution formula: SitharamanFebruary 1, 2026 12:02 pmFM proposes to support Artificial Limbs Manufacturing Corporation of India to scale up production of assisted devises for divyangjanFebruary 1, 2026 12:01 pmFM proposes to launch Bharat Vistar, a multilingual AI tool to integrate agri stackFebruary 1, 2026 12:00 pmFM proposes setting up of ‘She Marts’ as community-owned retail outletsFebruary 1, 2026 11:59 amGovt proposes credit link subsidy programme, encourage livestock farmer producer organisations to promote employment opportunities: FMFebruary 1, 2026 11:59 amGovt will create a network of over 1,000 accredited Indian Clinical Trial sites: FMFebruary 1, 2026 11:58 amGovt proposes coconut promotion scheme to increase production, productivityFebruary 1, 2026 11:58 amWe will develop ecologically sustainable trails in Himachal Pradesh, Utttarakhand and Jammu and Kashmir: SitharamanFebruary 1, 2026 11:55 amTelescope infrastructure to be upgraded to promote astrophysics and astronomy: FMFebruary 1, 2026 11:55 amGovt to launch pilot scheme to upgrade skills of 10,000 guides at 20 iconic tourist sites: FM SitharamanFebruary 1, 2026 11:55 amCentre to support 5 university townships in vicinity of major industrial logistics centres: SitharamanFebruary 1, 2026 11:53 amBudget proposes to support of Indian Institute of Creative Technologies Mumbai for setting up content labs in 15,000 secondary schoolsFebruary 1, 2026 11:53 amBudget proposes Biopharma SHAKTI with an outlay of Rs 10,000 crore over next 5 years: FM SitharamanFebruary 1, 2026 11:52 amGovernment to set up one girls’ hostel in every district of country: FM SitharamanFebruary 1, 2026 11:51 amBudget proposes to upgrade WHO Global Traditional Medicine Centre at Jamnagar, GujaratFebruary 1, 2026 11:47 amFM proposes loan-linked capital subsidy support scheme for veterinary collages, hospitals, diagnostics laboratoriesFebruary 1, 2026 11:47 amCentre to support 5 university townships in vicinity of major industrial logistics centres: SitharamanFebruary 1, 2026 11:47 amGovt proposes scheme to strengthen domestic manufacturing of high-value, technology-advanced capital goods and infrastructure equipmentFebruary 1, 2026 11:46 amGovt to support states in setting up five hubs for medical tourism: SitharamanFebruary 1, 2026 11:46 amGovernment will continue to focus on developing infrastructure in cities with over 5 lakh population, says the FMPerson of Indian Origin (PRIO) permitted to invest in equity instruments, listed indian companies through Portfolio Investment Scheme: FMFebruary 1, 2026 11:45 amThe individual limit is set to be increased from 5% to 10%, while the combined cap for all such investors is proposed to rise from 10% to 24%. This change would allow serious foreign individual investors to take more meaningful stakes in Indian companies, potentially improving price discovery, deepening shareholding, and supporting long-term capital formation.In FY27, capital expenditure set at Rs 12.2 lakh croreFebruary 1, 2026 11:44 amFor the Financial Year 2027, the capital expenditure has been set at Rs 12.2 lakh crore.Public capital expenditure gets Rs 11 lakh croreFebruary 1, 2026 11:43 amPublic capital expenditure has increased manifold to an allocation of 11 lakh crore in the Budget Estimates.Rs 10,000 Crore SME Growth FundFebruary 1, 2026 11:42 amFM proposed to introduce Rs 10,000 crore SME growth fund. The idea is to incentivise SMEs based on select criteria.Existing institutions for allied health professionals to be upgraded: SitharamanFebruary 1, 2026 11:40 amFM proposes 7 high-speed rail corridors across IndiaFebruary 1, 2026 11:38 amFM proposed the development of 7 high-speed rail corridors as part of efforts to boost connectivity and infrastructure in India. Key routes include: Mumbai to Pune; Pune to Hyderabad; Hyderabad to Bengaluru; Bengaluru to Chennai. Additional corridors are planned to further strengthen regional connectivity and economic growth across the country under the Union Budget 2026-27.Close to 25 crore people have come out of multi-dimensional poverty: FM SitharamanFebruary 1, 2026 11:35 amFM proposes to market making framework with suitable access to funds and derivatives on corporate bond indicesFebruary 1, 2026 11:35 amFM proposes incentive of Rs 100 crore for single bond issuance by municipal corporation of more than Rs 1,000 croreFebruary 1, 2026 11:35 amFinance Minister proposes to restructure REC, PFC as part of public sector financial institution strengtheningFebruary 1, 2026 11:34 amBudget proposes to review foreign exchange management non-debt instruments rules: SitharamanFebruary 1, 2026 11:34 amFM proposes raising investment limit for individual PIO from 5 per cent to 10 per centFebruary 1, 2026 11:33 amToday, Indian banking sector is characterised by strong balance sheet, historic high profitability: FM SitharamanFebruary 1, 2026 11:33 amOutlay of Rs 20,000 crore proposed for launch of carbon capture and utilisation scheme across sectors like steel and cement: FMFebruary 1, 2026 11:33 amPropose setting up high level committee on ‘Banking for Viksit Bharat’: SitharamanFebruary 1, 2026 11:32 amNew dedicated freight corridor from Dankuni in East to Surat in West to promote environmentally sustainable movement of cargo: SitharamanFebruary 1, 2026 11:32 amA ship repair ecosystem catering to inland waterways will be set up at Varanasi and Patna: FMFebruary 1, 2026 11:32 amFM proposes setting up of Infrastructure Risk Fund to strengthen private developers risk managementFebruary 1, 2026 11:30 amAlso proposes incentives for indigenous manufacturing of sea planes.Finance Minister proposes to raise capex target to Rs 12.2 lakh crore for FY27 from Rs 11.2 lakh crore earmarked for current fiscalFebruary 1, 2026 11:30 amGovt proposes to support professional institutions like ICAI, ICSI to design short term modular coursesFebruary 1, 2026 11:30 amPropose to set up infrastructure risk guarantee fund for infra sector: SitharamanFebruary 1, 2026 11:29 amFM proposes to make TReDS as transaction platforms for all purchases from MSMEs by central public sector enterprisesFebruary 1, 2026 11:29 amBudget 2026-27 proposes Natural Fibre Scheme, Textile Expansion and Employment scheme, National Handloom and Handicraft programmeFebruary 1, 2026 11:29 amWe will continue to develop infrastructure in Tier 2, Tier 3 cities: SitharamanFebruary 1, 2026 11:28 amBudget 2026-27 proposes integrated textile programme with five sub-partsFebruary 1, 2026 11:28 amFM Sitharaman proposes to top up Self Reliance India Fund with Rs 4,000 cr in FY27 to support MSMEsFebruary 1, 2026 11:27 amFM proposes scheme to revive 200 legacy industrial clusters in FY27 budgetFebruary 1, 2026 11:27 amFM proposes setting up mega textile parks with focus on value addition to technical textilesFebruary 1, 2026 11:27 amPropose Mahatma Gandhi Gram Swaraj initiative to strengthen Khadi handloom: Sitharaman in Budget FY’27February 1, 2026 11:26 amA scheme for enhancement for construction and infrastructure equipments will be introduced to strengthen domestic manufacturing: FMFebruary 1, 2026 11:25 amFM proposes setting up of 3 dedicated chemical parks to enhance domestic production, reduce import dependencyFebruary 1, 2026 11:22 amHigh-tech tool rooms to be established at two locations to give push to capital goods manufacturing: FMFebruary 1, 2026 11:20 amFM proposes to increase outlay on electronic manufacturing to Rs 40,000 crore in FY27 budgetFebruary 1, 2026 11:18 amFM proposes to support mineral rich states of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish critical mineral facilitiesFebruary 1, 2026 11:17 amBudget 2026-27 proposes Rs 10,000 crore investment in biopharma over next 5 years: FMFebruary 1, 2026 11:17 amSemiconductor mission 2.0 will focus on producing equipment and materials designed for full-stack Indian IP: SitharamanFebruary 1, 2026 11:17 amFM proposes interventions in 6 sectors, including manufacturing, strategic and frontier sectors, healthcare and advanced technologyFebruary 1, 2026 11:16 am’Sabka Sath, Sabka Vikas’ third Kartavya of government, says FM SitharamanFebruary 1, 2026 11:15 amRobust financial sector is central to mobilising savings, allocating capital and managing better governance: FMFebruary 1, 2026 11:13 amVarious reforms rolled out since August 15, including GST, labour codes, and quality control order; reform express on its way, says Sitharaman.Our Kartavay is to accelerate and sustain economic growth, fulfil aspirations of people: SitharamanFebruary 1, 2026 11:11 amGovernment’s Sankalp is to focus on poor, underprivileged and disadvantaged, says the FM.India will continue to take steps towards Viksit Bharat: FM SitharamanFebruary 1, 2026 11:11 amOur Kartavya is to ensure every family, community, and sector has access to resources, amenities and opportunities: SitharamanToday we face an external environment where trade and multilaterism is imperative: SitharamanFebruary 1, 2026 11:10 amWe will ensure that dividends of growth reach every farmer, scheduled caste, scheduled tribe, and youth, says the Finance Minister.Finance Minister Nirmala Sitharaman rises to present Budget for 2026-27 in Lok SabhaFebruary 1, 2026 11:09 amOur government has chosen reforms over rhetoric, says FM Sitharaman.Sitharaman creates history with 9th consecutive Budget, longest serving Finance MinisterFebruary 1, 2026 11:08 amhttps://www.Jattvibe.com/news/india/sitharaman-creates-history-with-9th-consecutive-budget-longest-serving-finance-ministerCabinet approves Union Budget 2026-27February 1, 2026 11:00 amhttps://www.Jattvibe.com/news/business/cabinet-approves-union-budget-2026-27-ahead-of-its-presentation-by-finance-minister-sitharaman/Finance Minister Sitharaman arrives at ParliamentFebruary 1, 2026 10:49 amFinance Minister Nirmala Sitharaman on Sunday arrived at Parliament to attend the Cabinet meeting before presenting her record ninth Budget at the Central Hall of Parliament. The Union Cabinet, headed by Prime Minister Narendra Modi, will approve the Union Budget 2026-27 in Parliament. She will present the Union Budget in the Lok Sabha at 11 am.President Murmu offers ‘dahi cheeni’ to FM SitharamanFebruary 1, 2026 10:25 amAhead of the Union Budget 2026 presentation, President Droupadi Murmu on Sunday offered ‘dahi-cheeni’ (curd and sugar) to Union Finance Minister Nirmala Sitharaman at the Rashtrapati Bhavan. Read more: https://www.Jattvibe.com/news/india/ahead-of-budget-speech-president-murmu-offers-dahi-cheeni-to-finance-minister-sitharamanSitharaman meets President for customary pre-Budget presentation meetingFebruary 1, 2026 10:21 amFinance Minister Nirmala Sitharaman on Sunday called on President Droupadi Murmu before presenting her record ninth Budget in the Lok Sabha. As per established tradition, the Finance Minister met the President at the Rashtrapati Bhavan before heading to Parliament. Before going to the Rashtrapati Bhavan, Sitharaman posed with her Budget team in front of her office at Kartavya Bhavan. Wearing a magenta silk saree, she was holding a tablet in a red pouch with the national emblem, along with the Minister of State and all six Secretaries in her ministry.Finance Minister to present her ninth straight BudgetFebruary 1, 2026 9:50 amFinance Minister Nirmala Sitharaman will present her ninth straight Budget, which is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and announce reforms that could buffer the economy from global trade frictions, including US tariffs. PTI