Finance Minister Nirmala Sitharaman is set to present her ninth Budget in Parliament today (February 1, 2026). For the first time in India's history, the Union Budget is being unveiled on a Sunday.

The Budget is expected to include initiatives to support growth momentum, uphold fiscal discipline, and implement reforms to protect the economy from global trade tensions, such as U.S. tariffs.

The Economic Survey 2025-26, written by Chief Economic Advisor V. Anantha Nageswaran, was presented in Parliament on Thursday (January 29, 2026) by Ms. Sitharaman. In the financial year 2025-26, the Survey pointed out the government's growth estimate of 7.4 percent, noting that its 'nowcast' prediction for growth in Q3 (October-December 2025) was 7 percent. The Survey projects a growth rate range of 6.8-7.2percent for 2026-27.

Union Budget 2026 Live: Shashi Tharoor Eyes Job Opportunities For Youth

"We are all looking forward to hearing what the Finance Minister has to tell us. The Economic Survey projects good economic growth. Whether that growth is going to be accompanied by jobs? Jobless growth doesn't help anyone. So, we are anxious to see what kind of schemes they have in mind to generate more jobs in this country for young people of India," says Congress MP Shashi Tharoor on Union Budget 2026.

Gold, Silver Slide 6percent After Global Overnight Sell Off Ahead Of Union Budget 2026

Gold and silver prices crashed six per cent each on the Multi Commodity Exchange on Sunday, deepening the shock from a historic two-day global meltdown that wiped out decades of accumulated froth in precious metals. 

The fall has collided with Budget day speculation over import duties and left traders scrambling for cues that could decide whether this correction turns into a buying window or fresh pain for India's jewellery trade.

Also Read: Budget 2026: Investing in Growth, Resilience & Digital Growth

Silver prices had plunged as much as 37percent intraday on Friday, while gold had tumbled 12percent in the spot market. The drop in gold was the biggest single session decline since the early nineteen-eighties, and the slide in silver was the steepest ever recorded. The deeper collapse overseas came after Indian equities had shut for trading, leading to a sharp gap down at the open on MCX.

Gold now trades at Rs 1.4 lakh per ten grams while silver sits at Rs 2.74 lakh per kilogram. MCX shares opened nine per cent lower as exchange-linked volatility rippled across the market.

Tech Giants Seek Massive AI, Digital Infrastructure Push In Budget 2026

Former Tech Mahindra CEO and Co-Founder and Vice Chairman of AI firm AIONOS, CP Gurnani said the Survey brilliantly captures India's AI momentum with India's world-class talent, diverse data assets and smart pivot to bottom-up innovation with smaller, domain-specific models that fit India's reality perfectly.

"India's way forward is exciting, which is to leverage our engineering strength to create affordable, human-centric AI that solves local challenges first, then scales globally. This positions us not just as participants, but as leaders in the next wave of meaningful innovation," Gurnani said.

 

Also Read: Union Budget 2026: Finance Leader Share Budget Expectations

Hitachi Group IT firm GlobalLogic sees the Union Budget as a pivotal moment to move from digital-first to intelligence-first infrastructure.

"The progress made in AI, data platforms, and digital public infrastructure has laid a strong foundation; the next opportunity lies in scaling this intelligence into the physical world," GlobalLogic , Vice President and head for Asia Pacific, Piyush Jha said.

12:25

Budget 2026-27 Presentation Concludes

12:20

Total Budget Estimated at 46.9 lakh crore

12:18

Introduction of Minimum Alternate Tax (MAT)

FM announces that the Minimum Alternate Tax (MAT) will serve as the final tax liability for companies under the new regime, marking a significant simplification of corporate taxation.

Under Budget 2026, the tax rate on booking profits is reduced to 14% from 15%, effective from FY 2026-27 (AY 2027-28), with MAT becoming the final tax liability and no credit carry-forward permitted.

Relief for Small Taxpayers

FM announces new scheme to ease compliance for small taxpayers and micro businesses.

Simplified filing norms and reduced paperwork.

12:17

Rationalization of Income Tax Slabs (FY 2026–27)

Rationalisation of slabs to provide relief to the middle class.

Salaried taxpayers see higher take-home pay due to adjustments in slab thresholds and deductions.

Standard deduction retained, but limited scope for widening slabs further.

12:15

Key Taxation Reforms announced in Budget 2026

New Income Tax Act (Effective April 1, 2026) will replace the earlier framework with a simplified structure.

Designed to make the new regime the default, phasing out the old regime gradually.

12:13

Khelo India Mission Launch

Creating a Khelo India Mission to revolutionise the sports industry, to train coaches and establish leagues and contests.

12:12

FM Nirmala Sitharaman proposes fors setting up a National Institute of Hospitality by upgrading the existing council. 

A National Destination Digital Knowledge Grid will be established to enable an ecosystem for researchers, historians and content creators.

12:10

Buyback Capital Tax Proposes

FM Nirmala Sitharaman proposes buyback capital tax.

12:07

AVGC Content Creator Labs, New National Institute of Design
Sitharaman proposes support for the Indian Institute of Creative Technologies Mumbai in setting up AVGC content creator labs in 15,000 secondary schools and 500 colleges. 

She also proposes to establish a new National Institute of Design to boost design education and development in Eastern India.

12: 04

Making India a hub for Medical-value tourism

To promote India as a hub for Medical-value tourism, she proposes a scheme to support States in establishing five regional medical hubs in partnership with private sectors. 

12:03

ITR Deadline Revised

FM Sitharaman announces that Indian taxpayers can now file a revised ITR by 31 March with a payment of a nominal fee. 

11:57

By 2047, make India a global leader in the service sector.

Set up a high-powered Committee to recommend measures for the service sector as a score-driver of Viksit Bharat.

11:55

FM Proposes High-level Committee on Banking for Viksit Bharat

Sitharaman proposes the setting up of a high-level committee on banking for Viksit Bharat to comprehensively review the sector. 

11:49

Seven high-speed rail corridors will be developed as growth collectors. These will include Mumbai-Pune, Pune-Hyderabad, Hyderabad-Bengaluru, Hyderabad-Chennai, Chennai-Bengaluru, Delhi-Varanasi and Varanasi-Siliguri.

11:48

Carbon Capture Utilization and Storage

Sitharaman proposes an outlay of Rs. 20,000 crore over the next five years for the purpose of Carbon capture utilisation and storage.

11:45

A Strong Push for Infrastructure

The government will continue to focus on developing infrastructure across Tier 2, Tier 3 cities with over 5 lakh population

An increase of Public Capital Expenditure to Rs. 12.2 lakh crores has been proposed 

11:40

Proposal to set up ABGC Content Creator Labs

The FM has proposed setting up ABGC (Animation, Visual Effects, Gaming, and Comics) content creator labs across 1500 secondary schools and 500 colleges.

11: 37

20 new national waterways to be Operationalised

In order to promote environmentally sustainable cargo movement, the FM proposes to operationalise 20 new national waterways over the next 5 years

 

New Freight Corridors to be built between Dankuni & Surat

FM Nirmala Sitharaman, proposes a new dedicated freight corridor connecting Dankuni and Surat

February 01, 2026 11:36

200 Legacy Industrial Clusters to be Revived

In order to awaken legacy industrial sectors, the FM has proposed a scheme to revive 200 legacy industrial clusters. This will improve cost competitiveness and efficiency. 

February 01, 2026 11:34

Integrated program for labour-intensive textile sector announced

FM has announces integrated program for the labour-intensive textile sector:

1. National Fiber Scheme for self-reliance in natural, manmade and new-age fibers
2. Textile expansion and employment scheme
3. National Handloom and Handicraft scheme
4. Tex-eco initiative
5. Samarth 2.0

 February 01, 2026 11:30

Building capacity for Strong Capital Goods

FM speaks about building capacity for Strong Capital Goods. She proposes establishment of high-tech toolrooms to manufacture high-precision components at scale and lower costs. 

February 01, 2026 11:24

India’s semiconductor mission 2.0

The Government will launch ISM 2.0, building on India’s semiconductor mission 1.0

The mission will focus on producing equipment and materials, design full-stack Indian IT and fortify supply chains. 

Proposal to increase the outlay for Electronics Components Manufacturing Scheme to Rs. 40,000 crore.

 February 01, 2026 11:18

Proposed 3 stages support for MSMEs growth. Equity Support: 10 Thousand cr growth fund to create future champions. Self-reliant India fund to maintain the risk capital & Liquidity Support.

11:16

Proposed to start Mahatma Gandhi Gram Swaraj Yojana to strengthen Khadi, Handloom & Handicraft benefiting weavers, village artisans, OPOP initiative

11:15

Reform Express is well on its way: Sitharaman

FM highlights the comprehensive reforms undertaken by the government towards job creation

11:13

Will make Rare Earth Corridors in Odisha, Andhra Pradesh & Kerala

February 01, 2026 11:12

FM Hails 2026 budget as ‘yuva shakti-driven Budget’  

February 01, 2026 11:03

FM highlights the stability of the Indian Economy

FM says that since the Modi Government assumed office, the Indian economy has showcased stability, fiscal discipline, sustained growth and moderate inflation.

February 01, 2026 11:01

FM Nirmala Sitharaman begins Budget Speech for FY2026-27
This is her ninth consecutive time presenting the Union Budget.