Budget 2026

Advertisement

Market Updates

Budget 2026

Budget 2026: 7 key takeaways for individual taxpayers

The Union Budget 2026 may not have changed income tax rates, but it brings several practical updates that affect how individuals file returns, disclose income and deal with compliance. From easier timelines to simpler rules, here are the key takeaways taxpayers should know.

advertisement

Budget 2026

Budget 2026: Will your Sovereign Gold Bond gains face higher tax?

The tax benefit still exists, but it is now available only in a specific situation. Earlier, individual investors did not have to pay any capital gains tax if they held a Sovereign Gold Bond till maturity, but after the Budget 2026 announcement that has changed.

advertisement
advertisement
advertisement

Budget 2026

Har ghar Laxmiji padhaare: PM Modi outlines budget vision

Prime Minister Narendra Modi said India's 140 crore citizens are no longer content with being the world's fastest-growing economy and want the country to become the world's third-largest economy "as soon as possible." He said the Union Budget gives equal importance to multiple sectors and lays the groundwork for achieving the vision of Viksit Bharat by 2047. Highlighting Nari Shakti, Modi praised Finance Minister Nirmala Sitharaman, calling the Budget historic for underscoring India's commitment to women's empowerment. "As a woman Finance Minister, Nirmala ji has set a new record by presenting the Union Budget for the ninth consecutive time," the Prime Minister said, lauding her leadership and consistency.

बजट पेश किए जाने के बाद पीएम मोदी ने देश को किया संबोधित
11:15
advertisement

News

Budget 2026: TCS on education reduced to 2%, says Nirmala Sitharaman

Union Budget 2026 places education at the centre of India's growth strategy, with major announcements by Finance Minister Nirmala Sitharaman on skill development, AI-driven learning, healthcare training, women in STEM, new institutes, and youth-focused reforms aimed at boosting jobs and human capital.

Union Budget 2026

Budget 2026 FAQs

Will the stock market remain open on Budget day, even though it is a Sunday?
When will the Economic Survey 2026 be presented?
What is a Budget and why is it important for the government to present it?
Where does the word ‘Budget’ come from?
What is the ‘Halwa ceremony’ held before the Budget?
What will be the government’s focus in this Budget?
Will this be a populist Budget?
Why is it important for the common citizen to track the Budget?
What is the Economic Survey, and will it be presented this year?
Can Budget announcements make GST-linked goods cheaper or more expensive?
Does the Finance Minister have the authority to increase railway fares?
Can Congress and other opposition parties force changes in the Budget?

India’s Union Budget will be presented on 1 February 2026, with expectations high across households and industry. Middle-class and salaried taxpayers are hoping for income tax relief, with the government likely to consider steps such as a higher standard deduction or enhanced deduction limits to improve disposable incomes.

Rather than dramatic tax cuts, the middle class is seeking steady income growth, controlled inflation and policies that reduce the cost of living. Housing remains a major concern as property prices and construction costs continue to rise, while healthcare and everyday expenses also weigh on household budgets. Overall, expectations are more measured this year, with a preference for policy consistency, price stability and gradual improvements in long-term savings and essential services. Despite broader economic stability, persistent daily inflation remains the biggest worry for middle-income families.

Employment generation is expected to be a key focus of Budget 2026. Greater support for manufacturing, MSMEs and production-linked incentive (PLI) schemes could help boost investment, create jobs and strengthen the Make in India programme. Higher capital expenditure on infrastructure, including roads, railways, housing and urban development, is also expected to support economic growth. In addition, the government may step up its focus on agriculture and rural development through initiatives related to crop insurance, irrigation, farmer producer organisations and supply-chain strengthening, while continuing to back green energy, electric vehicles and renewable power through incentives and new schemes.

At the same time, healthcare is seeking higher public spending and affordable insurance; the energy sector wants stronger backing for renewables and green hydrogen; infrastructure and railways are looking for sustained capital outlay; AI and technology players are seeking funding, talent development and regulatory clarity; e-commerce and fintech firms want simpler rules and smoother tax processes; financial services players are expecting measures to deepen credit growth; manufacturing and defence are seeking export and R&D support; and travel, tourism and hospitality are hoping for policy support, better connectivity and easier access to credit.

Overall, Budget 2026 is expected to balance fiscal prudence with targeted reforms aimed at easing household pressures, creating jobs and sustaining long-term growth.