Updated on: Feb 01, 2026 8:59:12 AM IST
Finance minister Nirmala Sitharaman will present the Union Budget 2026 in the Parliament today at around 11 am.
Budget 2026 reactions LIVE updates: As finance minister Nirmala Sitharaman is all set to present the Union Budget 2026 in Parliament, her ninth such presentation along with an interim budget, several people including industry experts, traders, investors, stakeholders, political leaders, and more are keen to see what’s in the store.
The finance minister will present the Budget at around 11 am in Parliament today, even though it is a Sunday, making this year’s Budget speech a rare occurrence.
With the markets dipping and Gold and Silver prices plummeting ahead of the Budget presentation, it remains to be seen how the government has planned its expenditure, taxes, and growth for the upcoming year.
These are the key expectations from Budget 2026
-As the new and simplified Income Tax Act, 2025 will come into effect from 1 April 2026, the industry expects the budget to outline transition provisions, rules and FAQ for better understanding.
-A hike in standard deduction to encourage individuals to shift to the new income tax regime from the old regime is expected.
-Rationalisation of TDS categories into fewer rates, slabs.
-Overhaul of customs duty into fewer tax slabs and amnesty scheme to unlock ₹1.53 lakh crore stuck in disputes, and procedural simplification to boost ease of doing business.
-A focus on reducing India’s Debt-to-GDP ratio from FY27.
– A higher budget for defence amid rising geopolitical tensions.
-An outlay for ‘Viksit Bharat—Guarantee for Rozgar & Ajeevika Mission (Gramin)’ (VB-G RAM G) scheme under which cost will be shared between the Centre and States in 60:40 ratio.
Provision for 8th Pay Commission, which came into effect on 1 January 2026.
-Tax devolution to states, in line with the recommendations of the 16th Finance Commission.
-Incentives for MSMEs and tariff-sensitive sectors, like gems and jewellery, apparel and leather.
-Funding for exploration and processing of critical minerals such as lithium, cobalt and rare earth magnets.
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The finance minister will present the Budget at around 11 am in Parliament today, even though it is a Sunday, making this year’s Budget speech a rare occurrence.
With the markets dipping and Gold and Silver prices plummeting ahead of the Budget presentation, it remains to be seen how the government has planned its expenditure, taxes, and growth for the upcoming year.
These are the key expectations from Budget 2026
-As the new and simplified Income Tax Act, 2025 will come into effect from 1 April 2026, the industry expects the budget to outline transition provisions, rules and FAQ for better understanding.
-A hike in standard deduction to encourage individuals to shift to the new income tax regime from the old regime is expected.
-Rationalisation of TDS categories into fewer rates, slabs.
-Overhaul of customs duty into fewer tax slabs and amnesty scheme to unlock ₹1.53 lakh crore stuck in disputes, and procedural simplification to boost ease of doing business.
-A focus on reducing India’s Debt-to-GDP ratio from FY27.
– A higher budget for defence amid rising geopolitical tensions.
-An outlay for ‘Viksit Bharat—Guarantee for Rozgar & Ajeevika Mission (Gramin)’ (VB-G RAM G) scheme under which cost will be shared between the Centre and States in 60:40 ratio.
Provision for 8th Pay Commission, which came into effect on 1 January 2026.
-Tax devolution to states, in line with the recommendations of the 16th Finance Commission.
-Incentives for MSMEs and tariff-sensitive sectors, like gems and jewellery, apparel and leather.
-Funding for exploration and processing of critical minerals such as lithium, cobalt and rare earth magnets.
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Feb 01, 2026 8:59:10 AM IST
Budget 2026 reactions LIVE updates: What Rajya Sabha member Kapil Sibal said ahead of Budget 2026
Budget 2026 reactions LIVE updates: On the eve of the Union Budget 2026, Rajya Sabha member Kapil Sibal expressed lack of confidence that the Budget would reduce the pain of the poor. In an interview with news agency PTI, he said that even though India is the fastest growing economy in the world but the real test of an economy is whether it reduces people’s pain with per capita income being one of the indicators.
“First of all people should understand what a budget is. The budget is the allocation of resources based on the revenues that the government earns and the monies that the government has for certain programmes which should target the most underprivileged sections of the society. It is a utilitarian concept, you must give pleasure and you must reduce pain,” Sibal said.
“If the people are poor, you must uplift them, if certain sates are getting less money, you must make sure that they get more money, that is what the budget is all about. The problem with the Indian budget is that they don’t have enough resources. The reason why they don’t have enough resources is because for the last eleven years, (this government) did nothing to create surpluses,” the Independent Rajya Sabha member claimed.
Feb 01, 2026 8:48:37 AM IST
Budget 2026 reactions LIVE updates: What is the Union Budget?
Budget 2026 reactions LIVE updates: According to the finance ministry, the Union Budget is the most comprehensive report of the Indian government’s finances, in which revenues from all sources and outlays for all activities are consolidated, according to the ministry of finance. The budget also contains estimates of the government’s accounts for the next fiscal year.
Feb 01, 2026 8:36:54 AM IST
Budget 2026 reactions LIVE updates: What time Nirmala Sitharaman presented the Union Budget 2026?
Budget 2026 reactions LIVE updates: Finance minister Nirmala Sitharaman will present the Union Budget 2026 in the Parliament today at around 11 am. This would be the ninth time Nirmala Sitharaman will present the Union Budget, including one interim budget, ever since she took office in 2019.
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