Union Budget Session 2026 LIVE: Parliament Takes Up Discussion on Union Budget

Both Houses of Parliament reconvened at 2pm, taking up discussion on the Union Budget. Prior to proceedings recommencing, the opposition submitted a no-confidence motion against Lok Sabha speaker Om Birla under Rule 94 (C). The notice had 119 signatures.

After Lok Sabha reconvened, opposition members continued to protest. The Chair called for Papers to be Laid, but MPs flooded the Well of the House and raised slogans calling for LoP Rahul Gandhi to speak in Parliament. The Chair also announced that all adjournment motions for the day had been rejected. The House was shortly adjourned till 2pm.

Meanwhile, Rajya Sabha took up Question Hour.

Day 10 of the Budget Session of Parliament began with Lok Sabha taking up Question Hour and Rajya Sabha taking up Zero Hour.

Lok Sabha was adjourned promptly as the opposition continued sloganeering against the Chair for disallowing LoP Rahul Gandhi to speak. The House will reconvene at 12 noon. The opposition is also expected to move a no-confidence motion against Speaker Om Birla later.

Earlier, Congress MP Manish Tewari had moved an adjournment motion in Lok Sabha, seeking discussion the India-US Trade Deal. Rajya Sabha began with papers to be laid and committee reports, before moving onto Zero Hour.

Both Houses are expected to take up discussion on the Union Budget later in day.

Lok Sabha proceedings were repeatedly adjourned again on Monday, 9 February 2026, as opposition members continued to protest against Speaker Om Birla for refusing to let LoP Rahul Gandhi speak.

Opposition members also protested in Rajya Sabha, as the Chair refused to allow a discussion on the India-US trade deal. Both Houses saw discussion begin on the Union Budget. Rajya Sabha adjourned in the evening.

Rajya Sabha member Swati Maliwal spoke about issues related to women’s safety, justice, and social mindset, saying that repeated court dates (“tarikh par tarikh”) break a victim’s spirit and that the lack of fear of punishment encourages crimes. She stressed that until there is certainty in punishment, such cases will continue, and state governments must work seriously on this issue. Referring to sexual violence, she said, “rape does not happen because of clothes; it happens because of mentality.”

The Rajya Sabha has been adjourned and will reconvene on Monday, February 9, 2026.

The Rajya Sabha resumed proceedings, with several key Bills being introduced, including amendments to criminal laws, a constitutional amendment on reservation, a proposal for a mandatory 10-year census, legislation on airline passengers’ rights, and a provision for free cancer treatment across India.

The Rajya Sabha commenced. During Question Hour, MPs raised several issues. Union Minister Ashwini Vaishnaw addressed questions on train services in different regions, while Union Minister Shivraj Singh Chouhan responded to queries on digital agriculture initiatives.

The Rajya Sabha was adjourned and is scheduled to resume at 2:00 p.m.

The Lok Sabha was adjourned minutes after resuming on Friday, February 6, 2026, amid continued disruptions during the session. Speaker Om Birla reprimanded members for repeated interruptions and urged them to maintain decorum and allow discussions to proceed.

Expressing concern, Mr. Birla said, “19 hours and 13 minutes of the House has been wasted so far,” due to sloganeering and protests. He added that people across the country expect Parliament to function effectively.

The Lok Sabha will reconvene at 11 a.m. on Monday, February 9, 2026.

PM Modi arrived in Rajya Sabha, beginning his speech on the President's address. Opposition members continued to raise slogans demanding LoP Rahul Gandhi be allowed to speak in parliament.

Modi began by praising India's economy for its rare combination of 'high growth and low inflation'. He said that we are moving towards a new world order, with India as the voice of the Global South. He also said that India shouldn’t stop or look back, rather continue moving forward. Soon after Modi began his speech, the opposition walked out of the House.

Modi then criticised the Congress, saying the past speeches of all Congress PMs reflected no vision. He stated that most of his government's efforts have gone into fixing the mistakes of his predecessors. He said Congress will have to answer for creating a country that no one wanted to trade with. He says his government has adopted the mantra of 'reform-transform-perform' and that they had brought India onboard the 'Reform Express'.

He went on to speak about the threat of 'infiltraitors' in the country, saying they are stealing jobs and land, indulging in violence and threatening women. He criticised the opposition for defending such 'infiltraitors' while most developed countries are focused on removing them.

He went onto praise reforms made to the banking sector and highlighted record profits for PSUs. He also talked about how the Congress failed farmers, while the NDA has uplifted them.

After Lok Sabha reconvened at 3pm, Speaker Om Birla addressed the House on the incidents of the past two days. He called the opposition's actions against the parliament's tradition. He went on to say that he had advised PM Modi not to attend the day's proceedings, citing security concenrs posed by opposition members. He further said the Budget Session will not proceed if members continue to sloganeer and carry placards into the House.

Lok Sabha proceedings adjourned till 6 February 2026, 11am. Meanwhile, Rajya Sabha continues discussion on the President's address.

Opposition members continued to protest after Lok Sabha reconvened at 2pm. The House was set to take up matters under Rule 377, but was shortly adjourned till 3pm amidst sloganeering. Meanwhile, Rajya Sabha took up discussion on the President's address.

Lok Sabha reconvened at 12 noon, amidst heavy sloganeering by opposition members. The House took up Papers to be Laid before moving onto Statements by Ministers. Speaker Om Birla than moved a motion of thanks on the President's address which was passed by voice vote.

The House, however, was adjourned till 2pm as opposition MPs continued to protest. Meanwhile, Rajya Sabha proceeded with Question Hour.

The debate in Rajya Sabha continued, with LoP Kharge arguing that opposition members are not allowed to speak in parliament. He refered to BJP MPs as 'bonded labourers' of PM Modi, who can't speak without his permission. Chairman Radhakrishnan objected to the remark and struck it from the record.

LoP Kharge argued that majority members constantly criticised the Congress, but asked what mouth can they speak from when they perpetrate lynchings, abuse, rapes, and other atrocities. Radhakrishnan directed all unparliamentary references to be struck from the record.

Parliamentray Affairs Minister Kiren Rijiju replied to Kharge, alleging that he is misleading the House. He argued that LoP Rahul Gandhi was not stopped from speaking, saying that he spoke for 40 minutes but constantly ungaged in unparliamentary conduct.

Finance Minister Nirmala Sitharaman spoke next, objecting to Kharge's comments on lynching. She referenced two instances of lynchings that took place under Congress rule - one in Rajasthan, one is Kerala - asking what action the party took in those instances.

DMK MP Tiruchi Siva then spoke, saying that the Chair had earlier issued a ruling allowing a BJP MP to discuss subjudice matters and that this ruling should be upheld. CPI(M) MP John Brittas then spoke, saying that there are three facades of the parliament - the Lower House, the Upper House and the President - and that despite this, the President had been kept away when the new Parliament was inaugurated.

LoP Kharge then rose again to speak, making reference to General Naravane's biography. Radhakrishnan vehemently objected to this, shifting the mic to LoH Nadda. Nadda accused Kharge and the Congress of strangling and belittling democracy while speaking in its name. The opposition walked out of the House in protest. Nadda continued to shame the Congress for not allowing parliamentary proceedings to move ahead, while praising PM Modi's leadership.

After his speech, the House moved onto Zero Hour.

Rajya Sabha proceedings began with Papers to be Laid on the table, before continuing with the discussion on the President's address. Beginning the debate, LoP Mallikarjun Kharge raised the issue of Rahul Gandhi not being allowd to speak in Lok Sabha.

Soon after Kharge began his speech, Chairman CP Radhakrishnan reprimanded him for speaking about Lok Sabha proceedings in the Upper House. Kharge responde by saying, “There are two pillars [of a parliamentary democracy]. When you paralyse one to hide your [BJP’s] your mistakes, it is a betrayal and an insult to this country.”

Radhakrishnan interrupted Kharge, directing LoH JP Nadda to speak. Nadda began by saying, “The Narendra Modi government is always ready to speak on any issue. PM Modi was ready to answer your questions in Lok Sabha yesterday, but you did not let proceedings continue.”

Shortly after day 7 of the Budget Session of Parliament 2026 commenced, Lok Sabha proceedings were adjourned till 12 noon, amidst sloganeering by opposition MPs. Members were protesting against the House preventing LoP Rahul Gandhi from speaking. Members continued to protest outside the Upper House.

Earlier, opposition members had held a strategy meeting at Rajya Sabha LoP Mallikarjun Kharge's office. Congress MP Manish Tewari had also moved an adjournment motion in the Lower House demanding a discussion on the India-US trade deal.

Reportedly, PM Modi is scheduled to speak in Rajya Sabha later today.

After chaos erupted in Parliament, Congress leaders staged a protest on the Parliament steps, holding posters featuring images of Prime Minister Narendra Modi and Jeffrey Epstein with the text “PM Is Compromised.” The protest was held over multiple issues against the ruling party. Leader of Opposition Rahul Gandhi also displayed a book by former Army Chief General Manoj Naravane outside Parliament.

Earlier on Monday, January 2, 2026, Rahul Gandhi referred to the book and attempted to quote from it inside the House but was unable to do so due to continuous interruptions. Before today's session began, Priyanka Gandhi Vadra also criticised the proceedings, calling them against the fundamental principles of democracy.

Meanwhile, AAP MPs protested within the Parliament premises over the India–US trade agreement. Amid the uproar, proceedings in the Lok Sabha were adjourned till 2 pm.

Lok Sabha reconvened at 3pm for only three minutes. Chairperson Dilip Saikia listed of the names of eight opposition members for suspension: Gurdeep Singh Aujla, Hibi Eden, Dean Kuriakose, Manickam Tagore, Kiran Kumar Reddy, S Venkataraman, and Prashant Padole.

Parliamentary Affairs Minister Kiren Rijiju then rose to move that the listed members be suspended from Parliament for the remainder of the session. The motion was passed by voice vote amidst protests by opposition members. The House was then adjourned 4 February 2026, 11am.

Meanwhile, the debate on the President's address remains ongoing in Rajya Sabha.

When Lok Sabha reconvened at 2pm, the House once again took up discussion on the President's address. LoP Rahul Gandhi rose to begin his speech, this time laying the article on Army General Naravane's remarks on the table. Parliamentary Affair Kiren Rijiju objected, citing Speaker om Birla's ruling on the matter.

Congress MP Venugopal objected to Rijiju's remarks, claiming them to be misleading and sought to offer a clarification, but was stopped by the Chair. This prompted protests from opposition MPs, who asked, "Is this House just for them [BJP]?"

Gandhi attempted to continue his speech, once again refering to the India-China standoff in 2020, saying he has authenticated the papers. The Chair once again dismissed this assertion and moved onto the next speaker.

This prompted massive protests by members, who filled the well of the House, prompting the Chair to adjourn proceedings till 3pm. Meanwhile, Rajya Sabha began discussion on the President's Address after the House reconvened.

Question Hour proceeded in Rajya Sabha till 1pm, when the House was adjoourned to meet again in an hour. Meanwhile, Congress MPs met on the parliamentary premises to strategize how to address the India-US trade deal in Parliament.

Lok Sabha Speaker Om Birla, Parliamentary Affairs Minister Kiren Rijiju, and Congress leaders reportedly met to discuss how to proceed with the session. Reports suggest that the government will make a statement on the trade deal later today in Parliament.

Lok Sabha proceedings resumed amidst continued protests by opposition members. The House first took up Papers to be Laid before onto Motions for Election to Committees. Parliamentary Affairs Minister then presented a motion for the House to agree with the 14th Report of the Business Advisory Committee.

Listed next was a continued debate on the President's address, but the House was adjourned till 2pm amidst the protests.

Meanwhile, Rajya Sabha also saw opposition protests over the newly announced US-India trade deal. Leader of the House (LoH) JP Nadda rose to address the protesting MPs, accusing the Congress of irresponsible behaviour, praising the deal and Trump's comments on Modi, and saying that the government was ready to discuss the issue 'soon'.

The opposition then proceeded to walk out of the House, while Question Hour was taken up.

Soon after Lok Sabha proceedings began, opposition members filled the well of the House. They were protesting LoP Rahul Gandhi being prevented from replying to BJP MP Tejasvi Surya's allegations against Congress. The House was adjourned till 12 noon by Speaker Om Birla amidst the protests.

Yesterday, day 4 of the Budget Session (2 February 2026), Lok Sabha proceedings were adjourned multiple times and a spat broke out between members over Gandhi's attempts to quote excerpts from an the unpublished memoir of Army General Naravane. The excerpts allegedly highlighted the 'incompetence' of PM Modi and Defence Minister Rajnath Singh in matters of national security.

MPs also raised slogans against the fresh India-US trade deal that prescribes 18% tariff on exported Indian goods, while reducing charges to zero for US goods entering India.

Meanwhile, Zero Hour commenced in Rajya Sabha with Congress MP Jairam Ramesh demanding a discussion on the recent India-US trade deal. The deal, announced by US President Trump, opens the Indian market to US goods byr reducing tariff and non-tariff barriers to zero. Earlier, Congress MP Venugopal had submitted an Adjournment Motion in Lok Sabha, which asked why the Indian government had not announced the deal and stressed its impact on Indian industries, traders, MSMEs, and farmers.

Day 5 of the Budget Session of Parliament 2026 began with obituary references in both Houses. Lok Sabha then moved onto Question Hour and Rajya Sabha took up Zero Hour.

Before the day's proceedings began, the NDA convened a Party Parliamentary meeting to discuss the Union Budget and the Viksit Bharat roadmap. PM Modi, Home Minister Amit Shah, Defence Minister Rajnath Singh, and BJP National President Nitin Nabin - who was formally felicitated for the first time - were in attendance, along with other MPs and Ministers.

Congress MP KC Venugopal also submitted an Adjournment Motion in Lok Sabha to discuss the new India-US trade deal. “Despite the significant economic, agricultural, and strategic implications of these reported commitments,” the notice read, “the Government has neither made an official statement nor taken Parliament into confidence. The country has the right to know the exact terms and conditions of the proposed trade deal.”

Following a discussion on the President's address, Rajya Sabha took up Special Mentions for the day before adjourning till 3 February 2026, 11am.

After reconvening for the second time, LoP continued his speech on the President's address, framin the issue as a matter of national security. Amidst protests by majority MPs, the Lok Sabha was adjourned for the day, to be reconvened at 11am on 3 february 2026.

After Lok Sabha reconvened at 3pm, LoP Rahul Gandhi began his speech once again, mentioning the China-India conflict at Kailish Ridge in 2020. Parliamentary Affairs Minister Kiren Rijiju and Defence Minister Rajnath Singh opposed the speech, prompting Speaker Om Birla to issue a warning to Gandhi. Soon, chaos broke out in the House, which was adjourned till 4pm.

Meanwhile, Rajya Sabha continued its debate on the President's address.

Citing violation of House rules, Speaker Om Birla disallowed LoP Rahul Gandhi from continuing his speech on the President's address. The House was adjourned amidst protests by opposition members.

Meanwhile, Rajya Sabha reconvened after lunch break and began the discussion on the President's address.

During the debate on the President's address in Lok Sabha, after BJP MP Tejasvi Surya spoke on the issue, LoP Rahul Gandhi rose to address the House.

Replying to Surya, who had pointed out that that the Congress had not once mentioned India's heritage in Parliament during the UPA tenure, Rahul Gandhi began his speech by attempting to quote a magazine article. The article featured excerpts from the unpublished memoir of General Manoj Mukund Naravane, who was the former chief of army staff from December 2019 until April 2022.

Defence Minister Rajnath Singh interupted the speech, objecting to Gandhi quoting an unverified publication in the House. This prompted protests by opposition MPs. Gandhi said that the exferpt would dispute Surya's allegations and that Rajnath Singh was opposing the move because his name would be mentioned in the excerpt.

Speaker Om Birla disallowed Gandhi from proceeding with the excerpt, citing House rules. This was disputed by opposition members, prompting Home Minister Amit Shah to interject. Mics of several opposition members were then muted.

Gandhi then said he would not quote the excerpt, but describe the events it outlined. Om Birla ruled against this, prompting further outcry from opposition MPs.

Following Question Hour, the Lok Sabha moved onto papers to be laid, before BJP MP Sarbananda Sonowal moved the Motion of Thanks on the President's address. Leader of Opposition (LoP) Rahul Gandhi is to lead the opposition in disscussion and PM Modi is to reply on 4 February 2026.

Parliamentary Affairs Minister Kiren Rijiju announced that the motion discussion, scheduled to begin later today, will last 18 hours and span three days.

Congress MP Manickam Tagore moved an adjournment motion prior to commencement of the session in Lok Sabha to discuss PM Modi's reference in the Epstein files. The Ministry of External Affairs had addressed the development, calling the references "trashy ruminations by a convicted criminal."

Congress MP Hibi Eden also moved an adjournment motion in Lok Sabha to discuss the ongoing Special Intensive Revision (SIR), saying the excercise could hamper fundamental rights and the electoral process if rushed and non-transparent.

AAP MP Sanjay Singh also sought to suspend business of the day in Rajya Sabha to discuss the ongoing redevelopment of Manikarnika Ghat, which he called destruction of heritage.

Proceedings began in both Houses at 11:00am amid protests by opposition members. Lok Sabha started directly with Question Hour, while Rajya Sabha saw papers laid on the table before moving on to Zero Hour.

Later, motions of thanks for the President's address will be raised in both Houses.

In the Union Budget 2026, no change in the current Income Tax Slabs has been made.

As per the Current Tax Rates under New Tax Regime for FY26, Between Rs 4 and Rs 8 lakh, the tax will be five percent; between Rs 8 and Rs 12 lakh, it will be 10 percent; between Rs 12 lakh and Rs 16 lakh, it will be 15 percent; between Rs 16 lakh and Rs 20 lakh, it will be 20 percent; between Rs 20 lakh and Rs 24 lakh, it will be 25 percent, and above Rs 24 lakh, the tax will be 30 percent.

As of now, individuals earning up to Rs 12 lakh—or Rs 12.75 lakh with standard deductions pay zero tax.

PM Modi praised the 2026-27 Union Budget in a video address. He said that the Budget was youth centric and reflects "nari shakti", saying it lays a foundation for Viksit Bharat.

He added that the Budget embodies trust-based governance and that India is undertaking reforms to enable a productive environment for its youth. He said that India's recent trade deals will benefit the youth and middle class, laying a foundationf for 'Atmanirbhar Bharat'.

Modi says that the Budget focuses on reducing inflation and fiscal deficit, and boosting employment generation. He congratulated FM Sitharaman for such a "futuristic" budget.

After the Union Budget Speech concluded, the Sensex plummeted by 2,100 points before climbing back up. It stabalised 1,000 points lower, with major dips across sectors like defence and banking.

After concluding her Union Budget Speech, FM Nirmala Sitharaman tabled the Finance Bill, 2025, in Lok Sabha. The motion for introduction was accepted by voice vote, after which the House was adjourned.

Tariff on dutiable personal-use imports will fall from 20% to 10%. Basic customs duty on 17 medicines and duty-free import of drugs and food for seven more rare diseases were announced.

Baggage clearance rules will be revised to reflect current travel patterns. Honest taxpayers can close disputes by paying an additional amount in lieu of penalties, under a settlement-oriented framework.

Duty deferral for Tier 2 and 3 AEOs will increase from 15 to 30 days. Advance ruling validity will rise to five years. Customs warehousing will shift to a self-declaration, operator-centric system with electronic tracking.

A single digital window for inter-agency cargo clearances will be operational by the end of the financial year, with 70% of interdicted cargo categories onboarded by April 2026. AI-based non-intrusive container scanning will be expanded.

Duty-free import limits for seafood processing inputs will rise to 3% of FOB value. Leather and synthetic footwear export inputs will also get duty-free access.

Fish caught by Indian vessels in EEZ or high seas will be treated as duty-free exports. The ₹10 lakh cap on courier exports per consignment will be removed. SEZ manufacturing units will be allowed one-time concessional duty sales to domestic markets within limits.

Basic customs duty exemptions were extended to capital goods for Lithium-Ion cell manufacturing, sodium antimonate for solar glass, and goods for nuclear power projects till 2035. Exemptions were also announced for critical mineral processing equipment.

In aviation, duty exemptions will apply to parts for civilian and training aircraft and defence-sector MRO units. Microwave oven component parts will also see duty exemptions under electronics sector support.

MAT will become a final tax from April 1, 2026, with no further credit accumulation. The rate will be reduced from 15% to 14%, and brought-forward MAT credit can be set off up to one-fourth of new regime tax liability.

Buybacks will be taxed as capital gains for all shareholders. Promoters will pay additional tax, taking effective rates to 22% for corporate promoters and 30% for non-corporate promoters. STT on futures and options will be raised.

Foreign companies using Indian data centres to provide global cloud services will receive a tax holiday till 2047. Safe harbour provisions include 15% cost margin for related data centre entities and 2% profit margin for bonded warehouse component warehousing.

Five-year income tax exemptions are proposed for non-residents supplying capital goods to toll manufacturers in bonded zones and for global income of non-resident experts under notified schemes. MAT exemption will apply to non-residents taxed on presumptive basis.

Software development, IT-enabled services, KPO and contract R&D in software will be merged into a single Information Technology Services category with a common safe harbour margin of 15.5%.

The safe harbour threshold will rise from ₹300 crore to ₹2,000 crore, approved through an automated process valid for five years. Unilateral APAs for IT services will be fast-tracked within two years. Modified return benefits will extend to associated entities entering APAs.

Tax deductions available to primary cooperative societies supplying produce from members will now extend to those supplying cattle feed and cotton seed. Inter-cooperative dividend income will qualify for deduction if redistributed to members.

A three-year exemption will be granted on dividend income received by notified national cooperative federations on investments made in companies up to 31 January 2026, provided dividends are passed on to member cooperatives.

Assessment and penalty proceedings under Income Tax will now be integrated into a single common order. Taxpayers will be allowed to update returns even after reassessment begins, on payment of an additional 10% tax.

Non-production of books of accounts and TDS requirements for payments made in kind will be decriminalised. Non-disclosure of foreign assets below ₹20 lakh will get retrospective immunity from prosecution from October 1, 2024. The prosecution framework overall will be rationalised.

The time limit for revising income tax returns will be extended from December 31 to March 31, with a nominal fee. Filing timelines for returns will also be staggered.

Form 15G and 15H for TDS relief on dividends and interest will move to a single-window filing through depositories. For property transactions involving NRIs, resident buyers’ PAN-based challans will replace the TAN requirement. A six-month foreign asset disclosure scheme will also be introduced for small taxpayers.

Several taxpayer relief measures were proposed. Interest awarded by the Motor Accident Claims Tribunal to individuals will now be exempt from Income Tax, and TDS on such payments will be removed.

TCS rates are being rationalised. The rate on overseas tour packages will be reduced to 2%, while TCS on education and medical remittances under LRS will fall from 5% to 2%. A rule-based automated system for lower or nil TDS certificates for small taxpayers will replace manual applications.

FM Sitharaman announced that the New Income Tax Act, 2025, will come into effect from April 2026. She said the accompanying Income Tax Rules and forms are being redesigned for easier compliance and will be notified shortly.

The government aims to simplify filing for ordinary citizens through streamlined formats. This move is positioned as a structural reform in direct tax administration, focused on reducing complexity and improving taxpayer experience under the new regime.

FM Sitharaman highlighted several key numbers from the Union Budget 2026-27:

• Non-Debt Receipts - Rs. 36.5 lakh crore

• Total Expenditure - Rs. 53.5 lakh crore

• Debt to GDP Ratio - 55.6% in BE 2026-27

• Fiscal Deficit - 4.3% of GDP in BE 2026-27

• Revised Estimates of Non-Debt Receipts - ₹34 lakh crore 

• Revised Estimates of Total Expenditure - ₹49.6 lakh crore

• Finance Commission Grants to States - ₹1.4 lakh crore in FY27

• Net Tax Receipts - ₹28.7 lakh crore in FY27

• Capex Expenditure - ₹11 lakh crore in FY26

Speaking on the tourism sector, FM Sitharaman proposed setting up a National Institute of Hospitality and a National Destination Digital Knowledge Grid, a knowledge repository. She also suggested a pilot scheme to upskill 10,000 guides across 20 tourist destinations, develop ecological trails across Himalayan and coastal states, and developing 15 archaeological sites.

She also specified focus on animal husbandry, fisheries and high-value crops. She suggested setting up productivity-boosting production schemes for coconuts, cashews, cocoa, sandalwood, etc.

Continuing her speech, FM Sitharaman also addressed reforms under the third 'kartavya'.

She specified a Sports Good initiative focused on manufacturing, research and equipment design. She suggested revitalising around 200 legacy industrial clusters to boost competition. She also outlined ₹20,000 crore for carbon capture, storage and utilisation over the next five years.

Additionally, she also suggested setting up: an Eastcoast Industrial corridor, with Durgapur as a major node; A Buddhist circuit across northeast states; a second NIMHANS and upgrades to existing mental health institutes; the Divyaang Sahara Yojana to provide assistive devices to People with Disabilities (PwD); Bharat Vistar, an AI tool to integrate the agristack and ICAR portals; SHE-marts (Self-help Entrepreneur), community-owned retail outlets; the Khelo India Mission to boost the sports sector; a new National Institute of Design in the east, and Animation, Visual Effects, Gaming, and Comics (AVGC) labs across 15,000 schools and 500 colleges; regional medical hubs to boost medico-tourism; and three new All India Institutes for Ayurveda.

FM Sitharaman listed several initiatives in line with the second ‘kartavya’ and the goal of Viksit Bharat @ 2047.

First, she suggested setting up high-level committees on banking, the service sector, and education-to-employment. She further suggested restructuring the Power Finance Corporation and Rural Electrification Corporation, along with reviewing non-debt instruments rules of the Foreign Exchange Management, and proposing Corporate and Municipal Bonds.

Sitharaman also listed several capacity building initiatives and accomplishments, beginning with highlighting how 25 crore people have come out of multi-dimentional poverty in the last 10 years. She suggested improved training for healthcare, veterinary and caregiving professionals.

FM Sitharaman said that the government will focus on infrastructural development of tier 2 and tier 3 cities. "During this past decade, our government has undertaken several initiatives for large-scale enhancement of public infrastructure,” she said, “including through new financing instruments such as Infrastructure Investment Trust (IIT) and Real Estate Investment Trust (REIT).” She also suggested setting up an Infrastructure Risk Guarantee fund to provide partial credit guarantee to lenders.

She added that capital expenditure has increased from ₹2 lakh crore in 2014-15, to ₹11.2 lakh crore in BE 25-26, and is expected to reach ₹12.2 lakh crores in FY27.

In terms of concrete projects, Sitharaman suggested establishing dedicated freight corridors connecting Dankuni in the East to Surat in the West, 20 new national waterways across the country beginning with Odisha, ship-repair ecosystems in Varanasi and Patna, and high-speed rail corridors connecting major urban and economic centres.

Infrastructure

FM Sitharaman stressed building capacity for Strong Capital Goods, by manufacturing high-precision components at scale and lower costs. For this, she suggested establishing high-tech tool rooms for concerned central public sector enterprises. She also announced a scheme for the improving manufacturing of construction and infrastructure equipment.

Textile

FM Sitharaman stressed building capacity for Strong Capital Goods, by manufacturing high-precision components at scale and lower costs. For this, she suggested establishing high-tech tool rooms for concerned central public sector enterprises. She also announced a scheme for the improving manufacturing of construction and infrastructure equipment.

Speaking on the labour-intensive textile sector, FM Sitharaman proposed five schemes:

• National Fibre Scheme

• Textile Expansion and Employment Scheme

• National Handloom and Handicraft Programme

• Tex-Eco Initiative

• Samarth 2.0

She additionally proposed the Mahatma Gandhi Gram Swaraj Initiative and setting up mega-textile parks.

MSMEs

FM Sitharaman suggested a three-prong approach to bolster Micro, Small, and Medium Enterprises (MSME):

A ₹10,000 crore SME growth fund

A ₹2,000 addition to the self-reliant India fund

Liquidity support via TREDS platform

She also suggested training 'Corporate Mitras' to ensure MSMEs meet their regulatory complaince.

In her speech, FM Sitharaman said that the the Budget was drafted "keeping aatmanirbharta [self-sustainability] as a lodestar." In line with this, she recommended a number of schemes and sector-wise reforms to bolster India's economy and ensure that "citizens benefit from every action of the government."

Health

Sitharaman proposed the BioPharma Shakti scheme, meaning, "BioPharma Strategy for Health Advancement through Knowledge, Technology and Innovation," to develop into India into a global biopharma manufacturing hub.

The scheme outlined ₹10,000 crores to develop India’s health manufacturing environment over the next five years. She specified establishing three new institutions for pharmaceutical education and research and upgrading seven others. She also suggested a biopharma-focused network of 1,000 accredited clinical trial sites, and strengthening the Central Drug Standard Control Organisation.

Electronics

Focusing semiconductor, FM Sitharaman outlined “India's Semiconductor Mission 2.0” to expand India's semiconductor sector capabilities. She outlined production of equipment and materials, designing full stack, Indian IP and fortifying supply chains as key areas of focus. “We will also focus on industry-led research and training centres to develop technology and a skilled workforce,” she said. She added that the Electronics Components Manufacturing Scheme of April 2025, which had an outlay of ₹22,999 crores, has received investment commitments at double its targets.

Mining

In a related initiative, FM Sitharaman proposed developing a mining corridor dedicated to rare earth minerals. This will stretch across Odisha, Kerala, Andhra Pradesh and Tamil Nadu. She said that a November 2025 scheme focused on rare earth permanent magnets will be expanded to enhance domestic production. This will involve establishing three dedicated chemical parks.

FM Sitharaman listed six areas that require intervention in line with the first 'kartavya':

1. Scaling up manufacturing in seven strategic and frontier sectors

2. Rejuvenating legacy industrial sectors

3. Creating champion MSMEs

4. Delivering a powerful push for infrastructure

5. Ensuring long term security and stability 

6. Developing city-economic regions. 

FM Sitharaman continued her speech, saying that this budget is driven by 'Yuva Shakti'. "India will continue to take confident steps towards Vikasit Bharat by balancing ambition with inclusion,: she said. She then went onto list three 'kartavya' or duties that inspired the 2026-27 Union Budget:

1. Accelerate and sustain economic growth; enhance productivity and competitiveness; build resilience to volatile global dynamics.

2. Fulfil aspirations of the Indian people and build their capacity making them strong partners in India’s prosperity.

3. 'Sabka Saath, Sabka Vikaas' - Ensure every family, sector and region has access to resources, amenities and opportunities for meaningful participation.

After the Union Cabinet approved the 2026-27 Budget, Finance Minister Nirmala Sitharaman addressed Lok Sabha.

She began by laying on the table the Report for 2026-2031 by the Sixteenth Finance Commission. She then moved onto the Budget Speech.

Sitharaman began by praising the NDA government, saying its tenure "has been marked by a state of stability, fiscal discipline, sustained growth and moderate inflation." She added that the government has focused on reform rather than rhetoric.

President Droupadi Murmu met Finance Minister Nirmala Sitharaman ahead of the Union Budget for 2026–27 on February 1, 2026. This will be Sitharaman’s ninth consecutive Budget, marking a major milestone for the first woman Finance Minister to present the Budget nine times in a row. She is now close to the record held by former Prime Minister Morarji Desai, who presented a total of 10 Budgets across two separate tenures.

As is customary, President Murmu fed the Finance Minister dahi-cheeni (curd and sugar) ahead of the Union Budget session.

Finance Minister Nirmala Sitharaman will present the Union Budget for 2026–27, marking a historic moment as it is being delivered on a Sunday for the first time in independent India’s history. 

This will be her ninth consecutive Budget, making her the first woman finance minister to achieve this feat, and the 15th Budget of the Narendra Modi-led government. It is also the second full Budget since the National Democratic Alliance (NDA) returned to power for a third straight term in 2024.

The FY27 Budget comes at a time of heightened complexity for the Indian economy. While domestic demand has remained resilient and inflation has moderated from recent peaks, the global environment remains deeply uncertain.

Geopolitical tensions, volatile commodity prices, uneven monetary easing by major central banks and rising trade fragmentation continue to weigh on the outlook. Adding to the challenge are punitive 50 per cent tariffs imposed by US President Donald Trump on Indian goods, which have unsettled financial markets and contributed to sustained foreign investor outflows and a record low rupee.

So far, sweeping income tax and GST cuts, higher infrastructure spending and interest rate reductions by the Reserve Bank of India have helped cushion the economy against these external shocks. However, those tax cuts have also dented government revenues, narrowing the fiscal space available to support growth in the new Budget.

Economists expect this year’s Budget to focus on defence, infrastructure, capital expenditure, power and affordable housing, while carefully balancing social welfare priorities with fiscal prudence. The emphasis, they say, will be on sustaining growth momentum without compromising the government’s commitment to fiscal consolidation.

The government has steadily reduced the fiscal deficit from the Covid-induced peak of 9.2 per cent to an estimated 4.4 per cent in FY26, and experts believe this path of “fiscal rectitude” will largely be maintained, with no major deviation expected.

Unlike the FY26 Budget, which was more explicitly geared towards stimulating middle-class consumption through tax relief, the FY27 Budget’s consumption push is expected to be more targeted.

Overall, economists say the Budget is likely to strike a careful balance between sustaining growth and maintaining fiscal discipline, while addressing near-term challenges arising from an unprecedented phase of global geopolitical and economic flux.

 (This Updates is from IANS news service. NewsGram holds no responsibility for its content. )

The Union Budget 2026 will be presented in Parliament on February 1, 2026, by Finance Minister Nirmala Sitharaman. The Budget speech is expected to begin around 11 AM, during which she will outline key economic indicators, tax slabs, and the government’s development plans for the 2026–27 financial year.

This will be Sitharaman’s ninth consecutive Budget, bringing her close to the record held by former Prime Minister Morarji Desai, who presented 10 Budgets. The upcoming Budget is expected to focus on reform measures aimed at boosting economic growth amid global uncertainty and volatile geopolitical conditions.

India’s Economic Survey 2025-26 presents the economy as entering a structurally different phase of development, where strong domestic macroeconomic performance coexists with a volatile and less supportive global environment.

Question Hour in Rajya Sabha saw five of 15 listed questions being discusses. The questions concerned 'Participation of top companies in job fairs in Bihar', 'Employment elasticity of GDP Growth', 'Upgradation of post offices', 'Connectivity of Gram Panchayats', and 'Encouraging private sector in space programmes'.

The House then adjourned, scheduled to meet on 1 February 2026, an hour after the Budget is presented in Lok Sabha.

FM Nirmala Sitharaman tabled the Economic Survey 2025-26 in the Lower House. This was followed by papers laid by the Ministry of Civil Aviation, and the laying of eight bills passed during the 18th Session of Lok Sabha. Finally, Parliamentary Affairs Minister Kiren Rijiju presented the 13th report of the Business Advisory Committee.

Before the Economic Survey was presented, Speaker Om Birla announced that as part of one of the many new initiatives by the Parliament, the Survey would be presented to all members as a soft copy on WhatsApp. There was no discussion on the Survey and the House was adjourned till 1 February 2026, 11:00am.

Lok Sabha commenced with Question Hour. A total of 17 questions were presented out of 20 listed. Many focused on infrastructure, specifically the status of roads and highways under construction in different states. Others had to do with the Jal Jeevan mission and water infrastructure. Some others looked at the functioning and budgeting of various schemes.

Rajya Sabha commenced with Papers to be Laid, before moving onto matters under Rule 377, which is matters of public importance. 15 notices were listed across a variety of topics, such as financial support for the plantation sector, tourism, use of religious iconography on packaging, regularisation of airfare, health and hospitals, and many others. The House then proceeded with Question Hour.

Meanwhile, FM Sitharaman tabled the Economic Survey in Lok Sabha.

Day 2 (29 January 2026) of the Budget Session of Parliament 2026 commenced with PM Modi's address outside Parliament at 10:45am. Later today, FM Nirmala Sitharaman is expected to table the Economic Survey in Lok Sabha.

Modi began his address by praising President Droupadi Murmu's speech yesterday inaugarating the Budget Session. The bulk of his address focused on the Free Trade Agreement (FTA) signed between India and the EU at the beginning of this quarter. He said the agreement reflected the bright future of India's youth.

“This [FTA] is Free Trade for Ambitious India, Free Trade for Aspirational Youth, Free Trade for Aatmanirbhar India. I am confident that, especially the manufacturers of India, will use this opportunity to enhance their capabilities.”

He then praised FM Sitharaman for being the first woman to present the ninth consecutive budget, marking a proud moment in the parliamentary history of India.

Sitharaman is set to table the economic survey in the Lower House at 12 noon. The Economic Survey, prepared by the Finance Ministry, is an annual review of the government's financial performance and the state of India's economy.

Following the President's address, Vice President CP Radhakrishnan addressed the sitting, exalting the Union government for it's developmental and welfare accomplishments.

Afterwards, President Murmu was given a ceremonial salute for her departure. Both Lok Sabha and Rajya Sabha convened shortly afterwards, around 12 noon, holding obituary refernces for past members and notable figures. Both Houses were promptly adjourned till 29 January 2026.

Prior to commencement of the day's ceremonies, Parliamentary Affairs Minister Kiren Rijiju clarified that this session of Parliament will only see discussions revolving around the Budget. He added that the government is ready to discuss other important issues, while at the same time refusing to entertain demands for renewed discussions on the VB-G RAM G Bill and the SIR.

Meanwhile, the Opposition demanded discussion on these specific topics, with Congress MP Manickam Tagore saying, “vote theft, SIR, procurement of paddy and bringing back MGNREGA” are some of the topics they will raise. Another MP also mentioned highlighting the falling value of the Rupee and worsening air pollution.