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- Prime Minister Narendra Modi hailed the Union Budget 2026–27 as “historic”, saying it lays out a clear roadmap towards a Viksit Bharat by 2047 and gives fresh momentum to India’s reform push.
- Union finance minister Nirmala Sitharaman presented the Budget for a record ninth consecutive time, raising capital expenditure to Rs 12.2 lakh crore, with focus on infrastructure, manufacturing, tax simplification and long-term growth.
- The Union Budget 2026 triggered sharp political reactions, with opposition parties calling it disappointing and lacking substance.
- The Budget signalled clear cost shifts for consumers, offering relief through duty cuts on medicines, sports goods and clean-energy inputs, while tightening taxes on trading activity, corporate payouts and select imports.
- The ministry of external affairs rejected Pakistan’s claims that India was involved in recent attacks in Balochistan, terming the allegations baseless.
Here are the top 5 news of the day:
PM Modi hails Budget 2026–27 as “historic”, pushes Viksit Bharat vision
Prime Minister Narendra Modi described the Union Budget 2026–27 as “historic”, saying it provides a clear roadmap towards achieving a Viksit Bharat by 2047 and adds momentum to India’s reform journey. PM Modi praised finance Minister Nirmala Sitharaman for presenting her ninth consecutive Budget, calling it a symbol of women’s empowerment, and said the Budget strengthens long-term national goals, economic growth, and reforms.The PM highlighted India’s ambition to become the world’s third-largest economy, referred to the recently signed “mother of all deals” with the European Union to benefit youth and MSMEs, and said the Budget supports initiatives such as Make in India and Atmanirbhar Bharat.
Budget 2026
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Key takeaways from Union Budget 2026–27
The Union Budget 2026–27, presented by Union finance minister Nirmala Sitharaman, focused on infrastructure expansion, manufacturing growth, fiscal consolidation and tax simplification amid strong economic momentum. Capital expenditure was raised to Rs 12.2 lakh crore for FY27, while the fiscal deficit was narrowed to 4.3% of GDP, with the total budget size pegged at Rs 53.5 lakh crore and net tax receipts estimated at Rs 28.7 lakh crore. Key measures included the rollout of a new Income Tax Act from April 2026, duty exemptions on medicines and critical manufacturing inputs, major outlays for biopharma, semiconductors, rare earths, MSMEs, clean energy and carbon capture, and proposals for high-speed rail corridors, freight corridors, waterways and urban infrastructure. Read full story
‘Blind to India’s real crises’: How Rahul Gandhi, oppn leaders criticise the Union Budget
Union Budget 2026–27 drew sharp criticism from opposition parties. Congress described the Budget as “disappointing” and said finance minister Sitharaman’s speech was “short” and “lacking specifics.” Rahul Gandhi, Leader of Opposition in the Lok Sabha, highlighted issues such as unemployment, declining manufacturing, capital outflows, farmer distress, and global uncertainties, saying these challenges were ignored while leaders from Kerala flagged the absence of state-specific allocations. Trinamool Congress leaders, including West Bengal CM Mamata Banerjee, accused the Centre of neglecting West Bengal, while party MPs said the Budget largely repeated earlier schemes without fresh initiatives. Read full story
‘Pakistan deflecting attention from internal failings’: MEA rejects ‘baseless’ claims on Balochistan attacks
India firmly rejected what it called “baseless” allegations by Pakistan that New Delhi had backed the recent deadly attacks in Balochistan, saying the claims were aimed at deflecting attention from Islamabad’s own internal problems. The ministry of external affairs said Pakistan should instead address the long-standing grievances of the people of Balochistan and its record of human rights violations. The response came after Pakistan’s military and interior minister alleged Indian involvement following multiple suicide and gun attacks across the province that left 33 people, including civilians, dead, while security forces claimed to have killed 92 militants. Read full story
Union Budget 2026-27: What gets cheaper, what gets costlier
The Union Budget 2026–27 presented by finance minister Nirmala Sitharaman outlines clear cost shifts for consumers and businesses amid global uncertainty. Duty cuts and exemptions may make sports equipment, leather goods, cancer medicines, seafood, solar panels, EV batteries and personal imports cheaper, while lower TCS will reduce upfront costs on foreign travel, education and medical remittances. In contrast, trading activity, corporate cash distributions, video gaming equipment parts, imported coffee machines and alcoholic liquor may become costlier due to changes in taxes and withdrawal of exemptions. Read full story Go to Source