Finance Minister Nirmala Sitharaman on Feburary 1, 2026 (Sunday) presented Union Budget 2026-27 focuses on the themes of ‘Yuva Shakti’ (Youth Power) and ‘3 Kartavya’ (3 Dutites).

Major Highlights

• Fiscal Deficit The target for FY 2026-27 is set at 4.3% of GDP (down from 4.4% in 2025-26).
• Debt-to-GDP Ratio The government aims to bring this down to 50% by 2030-31.

Taxation

• Tax Slabs There are no changes to existing Income Tax Slabs or Capital Gains Tax rates.
• Filling Deadlines The Deadline for filling Revised Returns has been extended to March 31.
• High – Speed Rail Announcement of 7 new High – speed Rail Corridors to act as ‘Growth Connectors’ betwen major cities.
• Total Allocation Rs.1.62 lakh crore has been allocated for agriculture and allied sectors.
• AI for Farmers Launch of specialized AI tool designed to assist farmers in modernizing agricultural practices.
• SME Growth Fund A Rs. 10,000 crore fund proposed to identify and nurture future industrial champions.
• BIo Pharma Shakti Launch of the ‘BioPharma Shakti’ scheme with an outlay of Rs. 10,000 crore to boost domestic biopharmaceutical production.
• Ayush Establishment of 3 new Ayurvedic AIIMS across the country.
• Medical Tourism Special provisions introduced to streamline and boost the medical tourism sector.