India Union Budget 2026-27 Explained Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026 today. (Express photo by Tashi Tobgyal)
Budget 2026 Explained Live Blog: Finance Minister Nirmala Sitharaman has finished presenting the Budget for the financial year April 2026 to March 2027. The focus this year was on providing incentives for manufacturing, specially in the MSME space. There was clear acknowledgement of the need for creating job opportunities. The FM also provided a slew of custom duty cuts to boost exports. Tier 3, tier 3 cities also came in for attention.
Last year’s Budget bet big on an unprecedented tax bonanza to push flagging consumption. It also continued the thrust on capital expenditure to maintain the growth momentum. The Budget’s headline announcement was the removal of tax liability for those earning up to Rs 12 lakh.
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It is unclear if this year’s Budget will have a similar big bang tax announcement. But the key macro issues over the year provide some clues about the issues that Sitharaman may seek to address. Of particular concern is the drying up of foreign capital inflows, which was also flagged by the Economic Survey. This is something that has had a direct effect on the value of the rupee over the course of the year. Then there is the familiar concern over the lack of private corporate investment.
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The government’s tax break in the previous budget, as well as the cuts in the GST rates, were essentially attempts to incentivise demand and create a business case for the private sector to invest in the economy. Despite that, private corporate investment has fallen from the pre-pandemic period.
The Economic Survey said the country is expected to grow by 6.8% to 7.2% in the next financial year. India’s nominal GDP growth rate, however, has been decelerating for years.
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