Union Budget 2026 - LIVE Updates | Bajaj Broking

Union Budget 2026 LIVE Updates | 12:31 PM

FM Proposes to Increase Time Limit for Filing Revised IT Returns

Finance Minister Nirmala Sitharaman on Sunday proposed to increase the time limit for filing revised income tax (I-T) returns from December 31 to March 31, on payment of a nominal fee.

The government also proposed a reduction in the TCS rate for pursuing education and medical education under the liberalised remittance scheme from 5 per cent to 2 per cent.

She also proposed a rule-based automated process for small taxpayers in the FY27 Budget.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:29 PM

Markets bleed after Sitharaman's budget; Sensex crashes 1,000 points, and Nifty is below 25K.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:27 PM

Sitharaman allocates Rs 5,000 crore for CITY Economic Regions (CERs) over 5 years.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:26 PM

 Customs and Excise Reliefs for Critical Minerals

• Nuclear Power Projects: Extend the basic customs duty exemption on imports for nuclear power projects till 2030–35 and expand it to all nuclear plants, regardless of capacity.

• Critical Nuclear Minerals: Provide customs duty exemption on capital goods imported for processing critical minerals in India.

• Biogas-Blended CNG: Exclude the entire value of biogas-blended CNG when calculating Central Excise Duty.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:25 PM

Customs Duty Exemptions to Boost Battery Storage & Solar Glass Production

FM Sitharaman proposed to extend the basic customs duty exemption on capital goods used for manufacturing lithium-ion cells for batteries to also cover battery energy storage systems.

• Additionally, basic customs duty will be exempted on the import of sodium antimonate for use in the manufacture of solar glass, supporting clean energy and storage infrastructure.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:23 PM

Customs Duty Exemptions to Boost Civil and Defence Aviation

The government has proposed to exempt basic customs duty on components and parts used for manufacturing civilian training and other aircraft. Additionally, raw materials imported for making aircraft parts used in maintenance, repair, or overhaul by defence units will also be exempted, supporting growth and self-reliance in the aviation sector.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:20 PM

India Fires Back with Strategic Trade Moves to Blunt Trump’s Tariff Offensive

Sitharaman proposes to reduce the tariff rate on all dutiable goods imported for personal use from 20% to 10%.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget 2026 LIVE Updates | 12:16 PM

Big Boost for the IT Sector

India is recognised as a global leader in software development services, IT-enabled services, knowledge process outsourcing, and contract R&D services.

• All these segments are to be clubbed under a single category called Information Technology Services.

  A common safe harbour margin of 15.5% will apply to all IT services.

  The threshold for availing safe harbour increased from ₹300 crore to ₹2,000 crore.

  Safe harbour approvals for IT services will be processed via an automated, rule-driven system, removing the need for examination by tax officers.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:12 PM  

Big Tax Tweaks with More Time and Less Rush

Union Budget 2026 Live: "I propose to extend the time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee. I also propose to stagger the timeline for filing of tax returns – individuals with ITR 1 and ITR 2 will continue to file till 31st July, and non-audit business cases or trusts are proposed to be allowed time till 31st August.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:11 PM  

Immunity for Non-Disclosure of Small Foreign Assets Announced

The government has proposed that individuals who fail to disclose non-immovable foreign assets with an aggregate value of less than ₹20 lakh will be granted immunity from prosecution. This exemption will apply retrospectively from October 1, 2024, easing compliance for small-value foreign asset holders.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:10 PM  

No interest liability on the taxpayer on the penalty amount for the period of appeal before the 1st appellate authority, irrespective of the outcome.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:09 PM  

Simplified TDS Process for NRI Property Sales

The government has proposed that TDS on the sale of immovable property by non-residents will now be deducted and deposited through resident buyers using their PAN-based challan, eliminating the need for a TAN (temporary accounting number) and simplifying compliance.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:08 PM  

Big News for NRIs with TCS Rate Reductions

For people planning foreign travel, the government has cut the TCS on overseas tour packages to 2%, down from the earlier rates of 5% and 20%, with no minimum amount condition. This will lower the upfront tax burden when booking international tour packages.

There is also relief for students and patients. The TCS rate under the Liberalised Remittance Scheme (LRS) for education and medical expenses abroad will be reduced from 5% to 2%, making it easier for families sending money overseas for these needs.

Finally, to remove confusion in tax deduction rules, the supply of manpower services will clearly fall under payments to contractors. As a result, TDS on such services will be only 1% or 2%, bringing clarity and lower tax friction for businesses and workers.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:07 PM  

Budget Relief for Travellers: Lower TCS on Overseas Tour Packages

The Union Budget has brought good news for Indians planning to travel abroad. The Finance Minister announced a sharp cut in the Tax Collected at Source (TCS) on overseas tour programme packages, making foreign travel more affordable and simpler from a tax point of view.

Under the new proposal, the TCS rate on overseas tour packages will be reduced from the current 5% and 20% to a flat 2%, without any minimum amount condition. This means travellers will now have to pay much less tax upfront when booking international tour packages.

Source: Economic Times, 1st Feb 2026

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Union Budget LIVE Updates | 12:05 PM  

Govt to borrow Rs 11.7 lakh crore in FY27 from dated securities to fund its fiscal deficit

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:04 PM  

Cashew Nuts, Cocoa and Sandalwood in Focus

Finance Minister Sitharaman proposed a dedicated programme for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhancing its core competitiveness and transforming Indian cashew and Indian cocoa into premium global brands by 2030.

"Sandalwood is closely linked to India's social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem," the FM said.

"To rejuvenate old, low-yielding orchards and expand high-density cultivation of walnuts, almonds, and pine nuts, we will support a dedicated program to enhance farmer incomes and bring value addition by engaging youth," she added.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:04 PM  

The Income Tax Act, 2025, is to be implemented from April 1; rules and tax return forms are to be notified shortly, announces Sitharaman.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 12:04 AM  

Revised Estimate for Fiscal Deficit for FY26 Is 4.4%; Budget Estimate Fiscal Deficit for FY27 Is 4.3%

Finance Minister Nirmala Sitharaman informed the House that the government has fulfilled its commitment made in 2021–22 to reduce the fiscal deficit below 4.5% of GDP by 2025–26.

The fiscal deficit for RE 2025–26 is estimated at 4.4% of GDP, in line with the BE 2025–26 projection. For 2026–27, the fiscal deficit is expected to further decline to 4.3% of GDP.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:12 AM  

Sitharaman Expands Lakpati Didi Program

Building on the success of the Lakpati Didi program, the government plans to help women move from credit-linked livelihoods to becoming enterprise owners. Self-help entrepreneur marts will be established as community-owned retail outlets within cluster-level federations, supported through enhanced and innovative financing, enabling women to take the next step in entrepreneurship.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:52 AM  

Govt to Set Up NIMHANS 2.0 to Bring a Mental Health Institute to North India

The government will establish NIMHANS 2.0 to set up a premier mental health institute in North India.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:50 AM  

The Government Bet on Fisheries, Animal Husbandry and High-Value Agriculture

Fisheries: Strengthen the value chain in coastal areas, the government will develop reservoirs and enable market linkages involving startups, women-led groups, and fish farmer producer organisations.

Animal husbandry: Efforts will focus on providing quality employment in rural and peri-urban areas through a credit-linked subsidy program, scaling up and modernising livestock enterprises, creating integrated livestock, dairy, and poultry value chains, and encouraging the formation of livestock farmer-producer organisations.

High-value agriculture: Support will be extended to crops such as coconut and sandalwood to diversify farm outputs, increase productivity, enhance farm incomes, and generate new employment opportunities.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:47 AM  

Budget Bets on Tourism to Power Youth Jobs and Local Growth

• Tourism as a growth engine: Focus on job creation, foreign exchange earnings, and boosting local economies.
  
  

• National Institute of Hospitality: The National Council for Hotel Management is to be upgraded to improve training and industry standards.
  
  

• Skilling at grassroots: Pilot programme to train 10,000 tourist guides across 20 iconic sites with a 12-week hybrid course.
  
  

• Digital push: Creation of a National Destination Digital Knowledge Grid to digitally document cultural, spiritual, and heritage sites.
  
  

• New job opportunities: Digital documentation to generate work for local researchers, historians, content creators, and tech partners.
  
  

• Eco-tourism focus: Development of sustainable trekking and hiking trails across key regions.
  
  

• Mountain & nature trails: Trails planned in Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and the Eastern and Western Ghats.
  
  

• Wildlife tourism: Turtle trails in coastal states and bird-watching trails near Pulicat Lake.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:55 AM  

FM Announces that the government has proposed to launch the Khelo India Mission for sports for 10 years

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:55 AM  

Tourism Sector: 

FM proposes to the National Institute of Hospitality

Also proposes a pilot scheme to train 10,000 guides from 20 tourism spots in collaboration with IIMs

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:46 AM  

Sitharaman’s Announcements for India’s Farmers

To diversify farm outputs, increase productivity, and enhance farmer income, we will support high-value crops such as coconut, cashew, and cocoa in coastal areas and nuts such as walnuts and pine nuts.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:45 AM  

India to Boost Astrophysics and Astronomy with Advanced Telescope Facilities

• India Budget 2026 Live Updates: The Centre announced plans to promote astrophysics and astronomy through immersive learning experiences.

• Set up or upgrade telescope infrastructure facilities across the country.

• Key projects include the National Large Solar Telescope, National Large Optical Infrared Telescope, Himalayan Chandra Telescope, and Cosmos 2 Planetarium.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:43 AM  

One Girls’ Hostel per District to Support Education

Union Budget Live: Long hours of study and laboratory work pose challenges for girl students, and under the VGF scheme, one girls’ hostel will be established in every district, announced FM.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:42 AM  

Sitharaman Pushes for Creative and Design Education

The ABGC sector is expected to require 2 million professionals by 2030. To support this, the government announced plans to help the Indian Institute of Creative Technologies, Mumbai, set up ABGC content creator labs in 15,000 secondary schools and 500 colleges across the country.

To address the growing demand in the Indian design industry, a new National Institute of Design will be established in Eastern India through a challenge route to strengthen design education and development.

In higher education, the government will support states in creating five university townships near major industrial and logistics corridors. These academic zones will include multiple universities, colleges, research institutions, skill centres, and residential facilities.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:40 AM  

Sitharaman Proposes a Boost to Traditional Medicine, Animal Husbandry and the Orange Economy

The govt to launch initiatives to strengthen evidence-based research, training, and awareness in traditional medicine.

Scale up veterinary education and services by adding over 20,000 professionals through a loan-linked capital subsidy scheme for private veterinary and para-veterinary colleges, hospitals, diagnostic labs, and breeding facilities.

Facilitate collaboration between Indian and foreign institutions in animal husbandry.

Support India’s Orange Economy, including the animation, visual effects, gaming, and comics sectors.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:37 AM  

Boosting Corporate and Municipal Bond Markets to Attract Investment

To align foreign investments with India’s evolving economic priorities, the government plans to strengthen the corporate bond market by introducing a market-making framework with access to funds and derivatives on corporate bond indices.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:35 AM  

7 High-Speed Railway Corridors Proposed by the FM

The proposed routes include Mumbai–Pune, Pune–Hyderabad, Hyderabad–Bengaluru, Hyderabad–Chennai, Chennai–Bengaluru, Delhi–Varanasi, and Varanasi–Siliguri. Together, they will link India’s financial hubs, technology centres, manufacturing clusters, and emerging cities with faster and cleaner mobility.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:25 AM  

Big Announcements for Poll-Bound West Bengal

• India Budget 2026 Live: Establish new dedicated freight corridors connecting Dangkuni in the east to Surat in the west.

• Operationalise 20 new national waterways over the next five years to promote environmentally sustainable cargo movement.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:24 AM  

Capex Hiked to ₹12.2 Lakh Crore for FY27

India Budget 2027 live: Capital expenditure has been increased to ₹12.2 lakh crore for FY27, announced Sitharaman. "We shall continue to focus on developing infrastructure in cities with over 5 lakh population, that is, tier 2 and tier 3 cities, which have expanded to become growth centres. Public capital expenditure has increased manifold from Rs 2 lakh crore in 2014-15 to an all-occupation of Rs 11.2 lakh crore in BE 25-26. In this coming year, that is, the financial year 2026-27, I propose to increase it to Rs 12.2 lakh crores to continue the momentum," announced the Finance Minister.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:21 AM  

A Dedicated Rs 10,000 Crores SME Growth Fund Announced

The government has proposed to introduce a dedicated 10,000 crore SME growth fund to create future jobs, incentivising enterprises based on select criteria.​

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:19 AM  

Centre Launches Mahatma Gandhi Gram Swaraj Initiative for Khadi & Handicrafts

Finance Minister Nirmala Sitharaman proposed the Mahatma Gandhi Gram Swaraj Initiative to strengthen the khadi, handloom, and handicraft sectors. The initiative aims to provide global market linkages and branding support while streamlining training, skilling, and quality of production. It is expected to benefit weavers, village industries, the One District One Product (ODOP) programme, and rural youth.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:18 AM  

Sitharaman Proposes an Integrated Programme to Boost the Labour-Intensive Textile Sector

For the labour-intensive textile sector, Finance Minister Nirmala Sitharaman proposed an integrated programme with five key components. The first is the National Fibre Scheme, which aims to achieve self-reliance in natural fibres such as silk, wool, and jute, as well as man-made and new industrial-age fibres.

• The second is the Textile Expansion and Employment Scheme, which seeks to modernise traditional clusters by providing capital support for machinery, technology upgrades, and common testing and certification centres.

• The third component is the National Handloom and Handicraft Programme (NHHP), designed to integrate and strengthen existing schemes while ensuring targeted support for weavers and artisans.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:15 AM  

A dedicated rare earth corridor was announced for India by Nirmala Sitharaman.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:15 AM  

ISM 2.0 and Electronics Push to Strengthen India’s Tech Ecosystem

FM said India’s Semiconductor Mission 1.0 expanded the country’s semiconductor capabilities. Building on this, the government will launch ISM 2.0 to produce equipment and materials, develop full-stack Indian IP, and strengthen supply chains.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:12 AM  

FM Sitharaman Proposes BioPharma Strategy

The BioPharma Strategy for Health Advancement through Knowledge, Technology and Innovation will strengthen India’s digital ecosystem in healthcare, said Sitharaman while delivering the Budget.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates |  FM Sitharaman Commences the Budget Speech | 11:08 AM  

FM's Kartavya Mantra

The government's sankalp is to focus on our poor, underprivileged and disadvantaged. To deliver on this sankalp, and given that this is the first budget prepared in Kartavya Bhavan, we are inspired by three Kartavyas.

--The first Kartavya is to accelerate and sustain economic growth by enhancing productivity and competitiveness and building resilience to volatile global dynamics.

--The second kartavya is to fulfil aspirations of the people and build their capacity, making them strong partners in India's path to prosperity.

--The third kartavya, aligned with the vision of Sabka Saath Sabka Vikaas, is to ensure that every family, community, region and sector has access to resources.

Source: Economic Times and FM’s Union Budget Speech, 1st Feb 2026

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Union Budget LIVE Updates | 11:07 AM  

The Budget is driven by Yuvashakti and based on three kartavyas

Source: Economic Times, 1st Feb 2026

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Union Budget LIVE Updates | 11:05 AM  

Our government has decisively and consistently chosen action over ambivalence, and we have pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment, said Sitharaman.

Source: Economic Times, 1st Feb 2026

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Union Budget LIVE Updates | 10:48 AM

Union Budget 2026 Live

 Updates: Between April and November, the fiscal deficit stood at ₹9.76 lakh crore, or 62.3% of the full-year target. Net receipts reached ₹13.9 lakh crore, while non-tax revenues at ₹5.2 lakh crore have emerged as a cushion. Direct and indirect tax growth, however, remains subdued.

Source: Economic Times, 1st Feb 2026

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Union Budget LIVE Updates | 10:47 AM  

Ahead of the Union Budget Announcement, NIFTY is down 51 points and is currently trading at 25,367, while Sensex is also down 54 points, trading at 82,512 

Source: NSE, BSE

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Union Budget LIVE Updates | 10:04 AM  

Union Budget 2026: Trivia - Morarji Desai holds the record for presenting the highest number of Union Budgets. Serving as finance minister from 1959 to 1963 and again from 1967 to 1969, he delivered 10 Budgets in total, including two interim ones. His first Budget was tabled on February 28, 1959, followed by full Budgets over the next two years. 

Source: Economic Times, 1st Feb 2026

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The Union Budget for FY27 will be presented by Nirmala Sitharaman on February 1. Against a backdrop of ongoing geopolitical instability and tariff-related disruptions, the government is expected to carefully balance its long-term infrastructure ambitions with the near-term imperative of cushioning the economy from external trade shocks.

As the Union Budget for FY2027 approaches, the government’s overarching focus appears to be on sustaining structural growth while revitalising domestic demand. This follows recent policy moves such as GST rationalisation and the sweeping income tax relief announced in the previous budget, all while maintaining fiscal prudence. 

Against this backdrop, the key pillars of the Budget are likely to include a continued push for Make in India, enhanced allocations for rural welfare, and a strategic evolution in the funding and execution of infrastructure and energy projects. For investors, the narrative is shifting away from headline order-book growth toward identifying companies with the execution capabilities and balance-sheet strength to translate orders into sustainable earnings.

Based on the Bajaj Broking Research Team’s report, sectoral expectations of Budget 2026 are expected to align with the following broad areas:

• Manufacturing and Employment: Continued emphasis on domestic manufacturing under existing industrial and production-linked initiatives, with a focus on job creation and supply-chain resilience.
  

• Technology and Digital Infrastructure:
  Policy support for emerging technologies such as artificial intelligence, digital public infrastructure, and data ecosystems, in line with India’s digital governance roadmap.
  

• Energy Transition:
  Measures aligned with India’s long-term climate and clean energy commitments, including renewable energy capacity expansion and energy efficiency initiatives.
  

• Skills and Human Capital:
  Ongoing focus on skilling, upskilling, and workforce readiness through national skill development programmes.