SUMMARY OF UNION BUDGET 2026-27

 

SUMMARY OF UNION BUDGET 2026-27

प्रविष्टि तिथि: 01 FEB 2026 1:14PM by PIB Delhi

• YUVA SHAKTI-DRIVEN BUDGET EMPHASIZES ON GOVERNMENT’S ‘SANKALP’ TO FOCUS ON POOR, UNDERPRIVILEGED AND THE DISADVANTAGED.
• FIRST BUDGET PREPARED IN KARTAVYA BHAWAN INSPIRED BY 3 KARTAVYA.
• FIRST KARTAVYA IS TO ACCELERATE AND SUSTAIN ECONOMIC GROWTH.
• SECOND KARTAVYA IS TO FULFIL ASPIRATIONS OF PEOPLE AND BUILD THEIR CAPACITY.
• THIRD KARTAVYA, ALIGNED WITH VISION OF SABKA SATH, SABKA VIKAS.
• NEW INCOME TAX ACT, 2025 TO COME INTO EFFECT FROM APRIL 2026, SIMPLIFIED INCOME TAX RULES AND FORMS TO BE NOTIFIED SHORTLY.
• MULTIPLICITY OF PROCEEDINGS TO BE REDUCED TO RATIONALISE PENALTY AND PROSECUTION.
• DEDUCTION ALREADY AVAILABLE TO CERTAIN PRIMARY COOPERATIVE SOCIETIES TO BE EXTENDED TO CATTLE FEED AND COTTON SEED.
• SINGLE CATEGORY OFINFORMATION TECHNOLOGY SERVICES WITH COMMON SAFE HARBOUR MARGIN OF 15.5%.
• 2000 CRORE THRESHOLD FOR AVAILING SAFE HARBOUR FOR IT SERVICES, UP FROM 300 CRORE RUPEES.
• FOREIGN CLOUD SERVICE PROVIDER TO BE GIVEN TAX HOLIDAY TILL 2047.
• EXEMPTION FROM MINIMUM ALTERNATE TAX TO ALL NON-RESIDENTS PAYING TAX ON PRESUMPTIVE BASIS.
• MINISTRY TO SET UP JOINT COMMITTEE TO MODIFY IndAS TO DO AWAY WITH SEPARATE ACCOUNTING REQUIREMENT BASED ON ICDS FROM TAX YEAR 2027-28.
• STT ON FUTURES TO BE RAISED TO 0.05% FROM PRESENT 0.02%.
• BASIC CUSTOMS DUTY EXEMPTION GIVEN TO CAPITAL GOODS USED FOR MANUFACTURING LITHIUM-ION CELLS FOR BATTERIES TO BE EXTENDED.
• BASIC CUSTOMS DUTY TO THE IMPORT OF CAPITAL GOODS REQUIRED FOR PROCESSING OF CRITICAL MINERALS TO BE EXEMPTED.
• TARIFF RATE ON ALL DUTIABLE GOODS IMPORTED FOR PERSONAL USE TO BE REDUCED FROM 20% TO 10%.
• BASIC CUSTOMS DUTY ON 17 DRUGS OR MEDICINES TO BE EXEMPTED.
• BIOPHARMA SHAKTI WITH AN OUTLAY OF ₹ 10,000 CRORES TO BUILD THE ECOSYSTEM FOR DOMESTIC PRODUCTION OF BIOLOGICS AND BIOSIMILARS.
• ₹10,000 CRORE SME GROWTH FUND PROPOSED TO CREATE MSME’S AS FUTURE CHAMPIONS.
• PUBLIC CAPEX ENHANCED FROM ₹11.2 LAKH CRORE IN BE 2025-26 TO ₹12.2 LAKH CRORE IN FY 2026-27.
• SEVEN HIGH-SPEED RAIL CORRIDORS BETWEEN CITIES WILL BE DEVELOPED AS ‘GROWTH CONNECTORS’ TO PROMOTE ENVIRONMENTALLY SUSTAINABLE PASSENGER SYSTEMS.
• INDIAN INSTITUTE OF CREATIVE TECHNOLOGIES, MUMBAI TO SETUP AVGC CONTENT CREATOR LABS IN 15,000 SECONDARY SCHOOLS AND 500 COLLEGES.
• TO ADDRESS THE CHALLENGES FOR GIRL STUDENTS IN HIGHER EDUCATION STEM INSTITUTIONS, ONE GIRLS HOSTEL WILL BE ESTABLISHED IN EVERY DISTRICT.
• GOVERNMENT ANNOUNCES A SCHEME FOR UPSKILLING 10,000 GUIDES IN 20 TOURIST SITES THROUGH A STANDARDIZED, HIGH-QUALITY 12-WEEK TRAINING COURSE IN HYBRID MODE, IN COLLABORATION WITH AN IIM.
• KHELO INDIA MISSION TO TRANSFORM THE SPORTS SECTOR OVER THE NEXT DECADE.
• BHARAT-VISTAAR, A MULTILINGUAL AI TOOL TO INTEGRATE THE AGRISTACK PORTALS AND THE ICAR PACKAGE ON AGRICULTURAL PRACTICES WITH AI SYSTEMS.
• OVERSEAS TOUR PROGRAM PACKAGE REDUCED FROM THE CURRENT 5 PERCENT AND 20 PERCENT TO 2 PERCENT.
• CUSTOMS WAREHOUSING FRAMEWORK TO BE TRANSFORMED INTO A WAREHOUSE OPERATOR-CENTRIC SYSTEM WITH SELF-DECLARATIONS, ELECTRONIC TRACKING AND RISK-BASED AUDIT.
• CARGO CLEARANCE APPROVALS FROM VARIOUS GOVERNMENT AGENCIES TO BE SEAMLESSLY PROCESSED THROUGH A SINGLE AND INTERCONNECTED DIGITAL WINDOW BY END OF THE FINANCIAL YEAR.