HIGHLIGHTS OF UNION BUDGET 2026-27

HIGHLIGHTS OF UNION BUDGET 2026-27

PART-A

Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Union Budget 2026-27 in the parliament today. The highlights of the budget are as follows:

The first Budget prepared in Kartavya Bhawan, is inspired by 3 kartavyas:

Budget Estimates

 

First Kartavya is to accelerate and sustain economic growth and proposes 6 interventions

1. Scaling up manufacturing in 7 strategic and frontier sectors

 

 

 

 

 

 

 

 

 

 

 

2. Rejuvenating legacy industrial sectors

 

3. Creating “Champion SMEs” and supporting micro enterprises

 

 

4. Delivering a powerful push to Infrastructure

 

 

 

 

5. Ensuring long term energy security and stability

6. Developing City Economic Regions

 

 

Municipal Bonds

 

Second Kartavya is to fulfil aspirations and build capacity of people

 

Creation of Professionals for Viksit Bharat

 

AYUSH

.

Animal Husbandry

Orange Economy

 

Education

Tourism

 

Heritage and Culture Tourism

Sports

Third Kartavya is aligned with vision of Sabka Sath, Sabka Vikas and requires targeted efforts in the following four areas:

1. Increasing Farmer Incomes

 High Value Agriculture:

Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources)

2. Empowering Divyangjan

3. Commitment to Mental Health and Trauma Care

4. Focus on the Purvodaya States and the North-Eastern Region

16th Finance Commission

 

PART –B

Direct Taxes

New Income Tax Act

·  New Income tax Act ,2025 to come into effect from April 2026

· The simplified Income Tax Rules and Forms will be notified shortly. The forms redesigned for easy compliance of ordinary citizens.  

 

Ease of Living

 

Rationalizing Penalty and Prosecution

Cooperatives

 

Supporting IT sector as India’s growth engine

 

Attracting global business and investment

 

Tax administration

 

Other Tax proposals

 

Indirect taxes:

Tariff Simplification

Marine, leather, and textile products:

Energy transition and security:

Nuclear Power:

 

Critical Minerals:

 

Biogas blended CNG:

 

Civil and Defence Aviation:

 

Electronics:

 

Special Economic Zone:

 

Ease of Living:

 

Customs Process simplification

 

Trust-based systems

 

Ease of Doing Business

 

New export opportunities

 

Ease of Living

· Provisions governing baggage clearance to be revised during international travel. Revised rules to enhance duty-free allowances in line with the present day travel realities.

· Honest taxpayers, willing to settle disputes will be able close cases by paying an additional amount in lieu of penalty.

 

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आगंतुक पटल : 36429