Finance Minister Nirmala Sitharaman announced plans to make 20 additional national waterways operational over the next five years, aiming to encourage eco-friendly and efficient movement of cargo across the country.
February 01, 2026 | 11:35 AM
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Union Budget 2026: LIVE Updates
02 February 2026
7 min read
Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2026-27 live in Parliament today, on February 1, 2026, at 11 AM IST, marking her record ninth consecutive budget presentation, the longest such streak by an Indian finance minister.
Sitharaman arrived at Kartavya Bhavan this morning ahead of the budget speech and will participate in the traditional Halwa ceremony before beginning the address.
Despite being a Sunday, the NSE and BSE markets are open for trading today so investors can react in real time to announcements.
Live Updates
February 01, 2026 | 12:50 PM
Customs tariff on personal-use imports cut from 20% to 10%.
February 01, 2026 | 12:32 PM
Customs duty exemption on lithium-ion battery components extended to storage system manufacturing. Solar glass import duty exemption and related input exemptions announced.
February 01, 2026 | 12:25 PM
Security Transaction Tax on F&O Increased
Finance Minister Nirmala Sitharaman announced a revision in the Securities Transaction Tax (STT) applicable to Futures and Options (F&O) trades, from 0.02% to 0.05%.
February 01, 2026 | 12:24 PM IST
Divyaang Sahara Yojana for persons with disability
Sitharaman said the Divyaang Sahara Yojana will ensure timely access to high-quality assistive devices for eligible persons with disabilities, including scaling up production and supporting the creation of modern retail-style centres for easier purchase.
February 01, 2026 | 12:15 PM
IT sector bonanza unveiled
Finance Minister Nirmala Sitharaman announced major tax incentives to boost India’s digital economy, including:
A long-term tax holiday until 2047 for foreign cloud and data service providers that operate globally from data centres based in India.
All key IT services, such as software development, IT-enabled services, knowledge process outsourcing and contract R&D, will be grouped under a single IT services category with a common safe harbour margin of 15.5% to simplify compliance.
The threshold for eligible companies to opt for safe harbour provisions has been raised to ₹2,000 crore from ₹300 crore, easing transfer pricing uncertainty for larger enterprises.
February 01, 2026 | 12:12 PM
Finance Minister Nirmala Sitharaman said the new Income Tax Act, 2025, will be implemented from 1 April 2026, with simplified rules and redesigned forms to make compliance easier for taxpayers.
February 01, 2026 | 12:11 PM
TCS on education and medical remittances reduced
The Finance Minister proposed a reduction in TCS under the Liberalised Remittance Scheme (LRS) for education and medical expenses, lowering the rate from 5% to 2% to ease the burden on individuals.
February 01, 2026 | 12:10 PM
Five-year income tax relief for certain non-residents
Finance Minister Nirmala Sitharaman announced a five-year income tax exemption for non-residents who supply capital goods and equipment to eligible manufacturing units operating in bonded zones.
February 01, 2026 | 12:09 PM
Capex raised to ₹12.2 lakh crore
Nirmala Sitharaman announced a significant increase in government capital expenditure for FY2026-27, with the **capex outlay set at ₹12.2 lakh crore, up from the previous year’s allocation. This highlights the government’s continued emphasis on infrastructure-led growth and public investment across sectors.
February 01, 2026 | 12:01 PM
Finance Minister Nirmala Sitharaman announced that taxpayers will now be allowed to file revised income tax returns up to March 31, subject to payment of a nominal fee.
February 01, 2026 | 11:56 AM
TCS rate on overseas tour packages reduced
Finance Minister Nirmala Sitharaman announced a sharp cut in the TCS rate on overseas tour programme packages, bringing it down to 2%, replacing the earlier rates of 5% and 20%, without any threshold limit.
February 01, 2026 | 11:55 AM
₹1.4 lakh crore Finance Commission grants for states
The Finance Minister said the Centre has allocated ₹1.4 lakh crore to states for FY 2026–27 under Finance Commission grants, covering rural and urban local bodies as well as disaster management support.
February 01, 2026 | 11:47 AM
Coconut productivity scheme announced
Finance Minister Nirmala Sitharaman unveiled a new coconut production initiative aimed at improving yields, strengthening value addition, and boosting farmer incomes.
February 01, 2026 | 11:44 AM
Push for heritage tourism
In her budget address, the finance minister proposed to develop 15 archaeological sites into immersive cultural and tourism destinations.
February 01, 2026 | 11:42 AM
FM proposes carbon capture and utilisation push
Finance Minister Nirmala Sitharaman said the government will roll out ₹20,000 crore carbon capture outlay, utilisation and storage (CCUS) initiative with a sizeable financial outlay to support key industrial sectors like steel, cement and power in reducing emissions, as part of India’s commitment to a net-zero pathway.
February 01, 2026 | 11:40 AM
Major infrastructure thrust announced
Highlighting a strong push for infrastructure, Finance Minister Nirmala Sitharaman said the government will continue prioritising urban infrastructure development in Tier-2 and Tier-3 cities, particularly those with populations exceeding five lakh.
She proposed raising public capital expenditure to ₹12.2 lakh crore, underlining the government’s commitment to growth-led investment.
February 01, 2026 | 11:37 AM
Ayurveda institutions to be expanded
Finance Minister Nirmala Sitharaman announced the establishment of three new All India Institutes for Ayurveda.
February 01, 2026 | 11:36 AM
Operationalise 20 new national waterways
The Finance Minister announced a special initiative for the sports goods industry, aimed at strengthening manufacturing, boosting exports, and supporting skill development to position India as a global hub for sports equipment production.
The government has planned seven new high-speed rail corridors to improve connectivity between major cities, especially linking Tier-2 and Tier-3 urban centres with larger economic hubs. These include the following routes:
- Mumbai-Pune
- Pune to Hyderabad
- Hyderabad-Bengaluru
- Hyderabad to Chennai
- Chennai to Bengaluru
- Bengaluru to Varanasi
- Varanasi to Siliguri
February 01, 2026 | 11:28 AM
FM announces rare-earth corridors for strategic minerals
Finance Minister Nirmala Sitharaman said the government will establish dedicated rare-earth corridors in four mineral-rich states, Tamil Nadu, Kerala, Odisha and Andhra Pradesh, to develop mining, processing, research and manufacturing hubs for critical minerals.
This move aims to reduce India’s dependence on imports and support the domestic rare-earth industry.
February 01, 2026 | 11:24 AM: India Semiconductor Mission 2.0
Finance Minister Nirmala Sitharaman said the government will roll out India Semiconductor Mission 2.0, adding that the focus will also be on industry-driven research initiatives and training centres to build advanced technology capabilities and a skilled workforce.
February 01, 2026 | 11:18 AM
The finance minister proposes to revive 2,000 industry clusters by a ₹10,000 crore MSME growth fund.
February 01, 2026 | 11:18 AM
FM spells out focus areas under first Kartavya
Elaborating on the first Kartavya, to accelerate and sustain economic growth, Finance Minister Nirmala Sitharaman said the government will step in across six key focus areas, which include:
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Expanding manufacturing capabilities across seven strategic and emerging sectors
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Revitalising traditional and established industries
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Nurturing MSMEs to build national champions
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Giving a strong boost to infrastructure development
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Strengthening long-term economic security and stability
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Promoting the growth of city-based economic regions
February 01, 2026 | 11:11 AM
Sitharaman announces ₹10,000 crore for Biopharma Shakti!
February 01, 2026 | 11:08 AM
The budget is based on three kartavyas, says Nirmala Sitharaman. She outlined the focus areas as:
Accelerating and sustaining economic growth
Meeting people’s aspirations by strengthening their capabilities
Advancing development in line with the vision of Sabka Saath, Sabka Vikas
“Threefold approach requires a supportive ecosystem. It is a unique, yuva shakti-driven budget,” says Nirmala Sitharaman
February 01, 2026 | 11:05 AM
While presenting her ninth consecutive Union Budget, Finance Minister Nirmala Sitharaman said that since the Modi government came to power, the Indian economy has demonstrated stability, backed by fiscal prudence, steady growth momentum, and controlled inflation.
February 01, 2026 | 11:03 AM
Union Finance Minister Nirmala Sitharaman has started delivering the Union Budget for FY 2026–27 in the Lok Sabha. This marks her ninth straight budget presentation, a record milestone.
February 01, 2026 | 11:00 AM
Lok Sabha session begins
The lower house of Parliament has assembled, setting the stage for the Finance Minister’s Budget address shortly thereafter.
February 01, 2026 | 10:15
The Union Cabinet has given its approval to the Union Budget, clearing the way for its presentation in Lok Sabha by the Finance Minister.
February 01, 2026 | 09:15
The benchmark indices began the session on a positive note, with Nifty 50 edging up to 25,333.75, gaining 13.10 points (0.05%), while the BSE Sensex opened higher at 82,445.97, rising 176.19 points (0.21%).
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