Union Budget 2026 Live Updates: FM Nirmala Sitharaman presents budget in Lok Sabha
The central government is set to present budget in Parliament on Sunday, February 1, with high expectations from citizens, businesses and policy experts. With the economy navigating global uncertainties and domestic growth priorities, stakeholders are keenly watching for announcements on tax relief, policy clarity and measures aimed at boosting consumption, investment and employment.
The Budget is expected to outline the government’s fiscal roadmap for the coming year, balancing welfare commitments with capital expenditure and long-term reforms. From middle-class taxpayers hoping for relief to industry leaders seeking incentives and economists assessing macroeconomic signals, the annual exercise remains a key moment for economic direction-setting.
Union Finance Minister Nirmala Sitharaman will present the Budget at 11 am, marking her ninth consecutive Budget speech — a record first for any Indian finance minister. The milestone underscores continuity in fiscal leadership as the government lays out its vision for the year ahead.
Live Updates
1 Feb 2026 4:58 PM ISTBudget 2026-27: No Allocation For Chabahar Port As India Weighs US Sanctions
India has chosen not to allocate funds for the Chabahar port project in the Union Budget 2026-27, marking a significant shift in its overseas infrastructure strategy as renewed US sanctions on Iran come into focus.
The decision comes as Finance Minister Nirmala Sitharaman presented her ninth consecutive Union Budget in Parliament on Sunday. The absence of funding reflects India’s cautious approach amid uncertainty over Washington’s sanctions regime against Tehran.
- 1 Feb 2026 4:18 PM IST
Samajwadi Party slams Union Budget, says it ignores poor, farmers and middle class
Samajwadi Party (SP) Chief Akhilesh Yadav, on Sunday, took a swipe at the Centre over Union Budget, saying that if the current situation continues, people would be forced to plate iron with brass to make jewellery.
Speaking to media persons, Akhilesh Yadav said, "The Union Budget is beyond the understanding of the poor and fails to address basic needs such as education and healthcare."
- 1 Feb 2026 4:17 PM IST
No high-speed rail will come to Bengaluru, says Deputy CM Shivakumar on Union Budget
Criticising the Union Budget for 2026–27, Karnataka Deputy Chief Minister D.K. Shivakumar stated that the state has received nothing, and "no high-speed rail will come to Bengaluru".
Notably, the Centre has announced the launch of a bullet train between Hyderabad and Bengaluru.
- 1 Feb 2026 4:11 PM IST
Union Budget 2026: What gets cheaper and costlier
Union Finance Minister Nirmala Sitharaman on Sunday announced in Union Budget 2026-27 that select outward remittances will get cheaper with Tax Collected at Source (TCS) on overseas tour packages and education and medical remittances cut to 2 per cent.
Earlier, overseas tour packages used to attract TCS at 5–20 per cent while overseas education and medical remittances (LRS) were taxed 5 per cent at source.
- 1 Feb 2026 4:08 PM IST
Union Budget shows lack of policy vision, political will: Mallikarjun Kharge
Congress President Mallikarjun Kharge, on Sunday, criticised the Union Budget 2026-27 for reflecting the government's lack of policy vision and failure to offer solutions to key socio-economic challenges, including jobs, manufacturing, private investment, infrastructure and social security.
Pointing to "tariff risks and slowdown" in exports and trade, Kharge said Finance Minister Nirmala Sitharaman offered "no response to export slump, tariff risks, trade deficit, shrinking global share".
- 1 Feb 2026 4:06 PM IST
Historic document to fulfill resolve of Viksit Bharat, says Haryana CM on Union Budget
The Union Budget “is a visionary and historic document that will fulfil the resolve of a Viksit Bharat”, said Haryana Chief Minister Nayab Singh Saini on Sunday.
Expressing gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the welfare-oriented Budget, he said the Budget's three main visions are speed, capacity, and inclusive growth.
- 1 Feb 2026 4:04 PM IST
Budget focuses on growth, manufacturing and opportunities for TN: CII leaders
Industry leaders in Tamil Nadu have welcomed the Union Budget 2026, describing it as growth-oriented, forward-looking and supportive of manufacturing, MSMEs and long-term industrial development.
Senior office-bearers of the Confederation of Indian Industry (CII) shared their assessment while addressing the media at a post-Budget press conference held at ITC Grand Chola, Chennai, on Sunday.
- 1 Feb 2026 3:58 PM IST
Union Budget 2026: Treating Waste as Strategic Infrastructure
Sustainability leaders see Budget 2026 as a turning point for recycling and circular economy.
Radhika Kalia, Managing Director, RLG Systems India Pvt. Ltd
Budget 2026 reflects a clear intent to treat waste as a resource. Rare earth corridors and recycling incentives aligned with the National Critical Minerals Mission will help India build a domestic value chain and reduce dependence on imports.
By linking recycling with manufacturing, logistics, and clean energy goals, the Budget brings recycling closer to being recognised as core industrial infrastructure. Effective execution will be key to unlocking its full potential.
- 1 Feb 2026 3:55 PM IST
Union Budget 2026: Strengthening Rural and Agricultural Livelihoods
Agriculture-focused businesses welcome the Budget’s targeted rural interventions.
SBP Pattabhi Rama Rao, Managing Director, Gourmet Popcornica Pvt. Ltd
The Union Budget 2026 presents a progressive vision for agriculture, with a strong emphasis on improving farmer incomes through region-specific measures. Investments in water infrastructure, fisheries, livestock FPOs, and credit-linked support will help build diversified and resilient rural livelihoods. The special focus on small and vulnerable farmers addresses long-standing structural challenges in rural India.
- 1 Feb 2026 3:53 PM IST
Union Budget 2026: Building a Future-Ready Education Ecosystem
Education leaders highlight the Budget’s emphasis on AI, creativity, and digital inclusion.
Praneet Mungali, Trustee, Sanskriti Group of Schools, Pune
The Union Budget 2026–27 marks a significant step towards building a future-ready education and skill ecosystem aligned with the vision of Viksit Bharat. The proposed Centre of Excellence in Artificial Intelligence for Education and content labs across schools will strengthen digital creativity and preparedness.
Continued support for flagship programs and initiatives such as girls’ hostels and BharatNet connectivity reinforces access, inclusion, and equity. With enrolment rates already high, the focus on learning outcomes and teacher readiness is both timely and essential.
