FULL Budget Speech: Nirmala Sitharaman Presents Budget 2026 | India Today

Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27, marking twelve years of the Modi government's economic trajectory. The budget introduces the Income Tax Act 2025, effective April 1, 2026, following a comprehensive review of the 1961 Act. Key fiscal targets include a deficit of 4.3% of GDP and a public capital expenditure increase to ₹12.2 lakh crore. Major initiatives include the ₹10,000 crore Biopharma Shakti program, India Semiconductor Mission 2.0, and seven high-speed rail corridors. The government announced the Bharat Vistar AI tool for farmers, the She-Marks initiative for rural women entrepreneurs, and the Khelo India Mission for sports. Customs duty exemptions were proposed for cancer drugs and critical minerals, alongside reforms to capital gains tax on buybacks. The budget outlines three Kartavyas focused on economic growth, inclusive resource access, and fulfilling aspirations. Additional investments target the MSME sector, the Orange Economy, fisheries, and the dairy sector to support the Vikasit Bharat vision while maintaining a declining debt-to-GDP ratio.

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