Rate of final tax to be reduced to 14% from current Minimum Alternate Tax (MAT) rate of 15%

Taxpayers allowed to update income tax returns even after reassessment but with 10% tax

TDS on sale of immovable property by NRIs to be deducted by resident buyer vs earlier requirement of TAN

Individuals with ITR1 and ITR2 to continue to file till 31 July

The government has extended the timeline to revise ITR with payment of nominal fee

STT on futures increased from 0.02% to 0.05% while for options it has been raised from 0.1% for options selling, 0.125% for options exercised to 0.15%.

The government plans to upgrade WHO traditional medical centre in Jamnagar.

1.5 lakh caregivers to be trained in the coming year. Hubs for medical value tourism to be created

‘She MARTS’ to be set up to empower woman entrepreneurs

Existing Institutions For Allied Health Professionals to be upgraded

Education-To-Employment Standing Committee to be established to prioritise areas to optimise potential for growth in the services space and review the impact of new technology like AI on the services sector

Carbon Capturing mission announced with an outlay of ₹ 20,000 crore over 5-year period to counter anti carbon policies globally

Creation of Content Creator Labs focused on Animation, Visual Effects, Gaming, and Comics (AVGC) in 1,500 schools and 500 colleges across India announced

Central government has increased the overall investment limit for overseas residents of India to 24%, compared to their current 10% level

15 archaeological sites proposed to be developed into vibrant experienced cultural destinations in efforts to boost the country's tourism

‘Khelo India Mission’ over the next decade announced

Outlay of Rs. 20,000 crore for the purpose of Carbon capture utilisation and storage proposed over the next five years

Coconut production scheme to enhance productivity announced

A high-level committee on banking for Viksit Bharat proposed

Setting up of three new All India Institute for Ayurveda announced

RARE EARTH MINERAL CORRIDOR announced across mineral rich states of Tamil Nadu, Odisha, Andhra Pradesh, and Kerala

Announced ₹12.2 lakh crore (up 9% YoY) as the capital expenditure outlay for FY26-27. Positive for domestic commercial vehicle space with beneficiaries being Tata Motors, Ashok Leyland in the OEM space and Jamna Auto in the auto ancillary space.

Proposal to set up three new dedicated chemical parks under a Plug and Play model to facilitate faster implementation and to strengthen the supply chain. 👉 Likely to be beneficial for Chemical companies looking for a new capex.

Government proposes to launch ISM 2.0 scheme which shall provide capital subsidy/incentives. ECMS outlay increased from around Rs 22919 cr to Rs 40,000 cr.

7 high-speed rail corridors proposed

Scheme for container manufacturing proposed with a capital outlay of ₹10,000 crore over the next 5 years

Mahatma Gandhi Gram Swaraj initiative proposed to strengthen Khadi handloom

India Semiconductor Mission 2.0 proposed with focus on industry-led R&D and training centres for chips. The outlay has been increased to ₹40,000 crore.

Emphasis on rare earth permanent magnets to support mineral-rich states. Rare earth corridors to promote mining and research

'Biopharma Shakti' announced with an outlay of 10,000 crore, noting India's shift in diseases such as diabetes, cancer and auto-immune disorders.

Budget based on three ‘kartavyas’ - Accelerate and sustain economic growth and enhancing productivity and competitiveness and building resilience to volatile global dynamics - Fulfil aspirations of our people and build their capacity making them partners in India’s prosperity - Ensure that every family, sector and region has access to resources, amenities and opportunities for meaningful participation.

Union Cabinet headed by PM Modi approves Union Budget 2026-27

Halwa Ceremony was held on 27th January 2026 to make the final preparation of Union Budget

Union Budget 2026 to incorporate 16th Finance Commission's recommendations with regard to the formula for sharing taxes for five years starting 2026-27 to 2030-31

Mrs. Nirmala Sitharaman will present her ninth consecutive budget in 2026

Union Budget 2026 will take place on 1st Feb 2026 Sunday.

Revised Income Tax Slabs under New Regime:
0 - 4 Lakh : Nil
4 - 8 Lakh : 5%
8 - 12 Lakh : 10%
12 - 16 Lakh : 15%
16 - 20 Lakh : 20%
20 - 24 Lakh : 25%
24 Lakh+ : 30%

Nuclear Mission Announced: ₹20,000 crore announced for mission in an attempt to rope in private players.

FM Announces Tax Relief: No Income tax for individuals earning up to ₹12 Lakh

The Finance Minister has proposed an import duty exemption on capital equipment used for manufacturing lithium-ion batteries for EVs.

Deep Tech Fund announced, to encourage startups from technical and non-technical backgrounds.

Fiscal Deficit for FY25 set at 4.8% (estimated fiscal deficit for FY26 set at 4.4%).

A ₹10,000 crore AIF Category 1 Fund of Funds to support startup investments, with an expanded scope.

36 life-saving medicines and drugs to be exempt from basic customs duty.

FM proposes increasing FDI limit for the insurance sector to 100%.

Exports to be promoted to boost growth; Export Promotion Mission to improve export credit and cross-border factoring support.

The fiscal deficit target for FY25 is set at 4.8%, with a further reduction planned for FY26 at 4.4%, indicating a continued focus on fiscal consolidation.

The Udaan connectivity scheme aims to boost aviation and tourism with a focus on greenfield airports and enhanced connectivity.

FM: New Income Tax Bill to be announced next week.

The government has proposed increasing the FDI limit in the insurance sector from 74% to 100%.