Finance Minister Nirmala Sitharaman presented her record 9th consecutive budget, on 1 February.
Finance Minister Nirmala Sitharaman Presented Union Budget 2026 in Parliament today, marking his ninth consecutive budget speech besides an interim budget. In his speech, he made several announcements in various sectors including agriculture, finance, health, employment, industry and tourism. (Also read: Budget 2026 Highlights: Nirmala Sitharaman proposes 3 new All India Institutes of Ayurveda to meet growing global demand)
New Delhi, February 01 (ANI): Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026 in the Lok Sabha during the budget session in New Delhi on Sunday. (ANI Video Grab/Parliament TV) (Parliament TV)Following are the key numbers and highlights of the Union Budget 2026-27 to consider:
A dedicated introduction proposal ₹10,000 crore SME Growth Fund, to create future champions, encouraging enterprises based on selected criteria.Proposal to top up the Self-Reliance India Fund established in 2021 ₹2,000 crore to continue supporting micro enterprises and maintain their access to risk capital.Launching a coastal cargo promotion scheme to encourage a modal shift away from rail and road to increase the share of inland waterways and coastal shipping from 6% to 12% by 2047.an allocation ₹ 5000 crore per CER over 5 years is proposed for implementation of modern infrastructure and basic facilities in Tier-1 and Tier-2 cities.Proposed formation of a high-powered ‘Education to Employment and Enterprise’ Standing Committee to recommend measures that focus on the service sector as a key driver of Viksit Bharat.A robust care ecosystem will be developed, covering geriatric and allied care services 1.5 lakh caregivers will be trained in the coming year.Indian Institute of Creative Technologies, Mumbai offers to help set up AVGC Content Creator Labs in 15,000 secondary schools and 500 colleges.1 girls hostel will be established in each district through VGF/capital assistance.Proposed pilot project to upskill 10,000 guides at 20 iconic tourist sites through a standardized, high-quality 12-week training course in hybrid mode.15 archaeological sites including Lothal, Dholavira, Rakhigari, Adichanallur, Sarnath, Hastinapur and Leh Palace are proposed to be developed into vibrant, experiential cultural destinations.An integrated East Coast Industrial Corridor with a well-connected node at Durgapur, development of 5 tourist destinations in 5 eastern states and provision of 4,000 e-buses are proposed.As per the recommendation of the commission, F.M ₹1.4 lakh crore to states for the financial year 2026-27 as Finance Commission grants. These include rural and urban local bodies and disaster management grants.TCS rate on sales of foreign tour program packages is proposed to be reduced from the existing 5 percent and 20 percent to 2 percent.It is proposed to specifically bring supply of manpower services within the ambit of payment to contractors for the purpose of TDS to avoid ambiguity. Thus, TDS on these services will be at the rate of 1 percent or 2 percent.The safe harbor threshold for IT services is being substantially increased from Rs 300 crore to Rs 2,000 crore.Offers 15 percent safe harbor on cost if data center service provider from India is a related entity.Exemption from Minimum Alternative Tax (MAT) is proposed to all non-residents who pay tax on presumptive basis.TCS rate will be rationalized to 2 per cent for sellers of certain products like alcoholic liquor, scrap and minerals and reduced from 5 per cent to 2 per cent on tamarind leaves.STT on futures is proposed to be increased from the current 0.02 per cent to 0.05 per cent.Proposed reduction of duty rate from 20 percent to 10 percent on all dutiable goods imported for personal consumption.Santanu Das is an entertainment journalist and film critic for Hindustan Times. He writes on film, TV and celebrity culture.
