A budget is a formal financial document that outlines how a government intends to raise and spend funds over a predetermined time frame, typically a year. One of the most significant government policy papers in India is the Union Budget, which is delivered to Parliament by the Finance Minister. It provides a clear picture of the priorities and economic direction of the nation.
Revenue and spending make up the two primary sections of the budget. Revenue comes from both non-tax sources such dividends and fees and taxes like income tax, corporate tax, and GST. Expenditure demonstrates how the government intends to use these funds for things like infrastructure, welfare programs, health, education, defence, and interest payments.
The budget intends to foster economic growth while balancing revenue and spending. Tax policy is another important component of the budget. It determines tax rates, exemptions, and compliance guidelines that have an impact on people, companies, and investors. Tax changes have a direct impact on household savings, investment choices, and consumption, which is why both markets and citizens actively monitor the budget.
The fiscal deficit, or the difference between government revenue and expenditure, is another goal set by the budget. According to economic experts cited in major media, managing this imbalance is crucial to keeping inflation under control and preserving economic stability.
All things considered, the budget is more than just an accounting exercise. It represents the government's long-term development objectives, social commitments, and economic philosophy. Its statements may have an effect on public services, employment, prices, and general economic confidence.
A massive showdown erupted in parliament on Monday after Rahul Gandhi tried to quote from former army chief Naravane's unpublished memoir claiming the government showed no political will against Chinese incursions in 2020.
A showdown between BJP and Congress escalated over Leader of Opposition Rahul Gandhi’s attempt to quote from an unpublished memoir by former Army Chief General M.M. Naravane in Lok Sabha.
A massive political war erupted in Lok Sabha as Leader of Opposition Rahul Gandhi sought to quote an unpublished "memoir" of former Army chief M M Naravane on the 2020 India-China conflict in the Lok Sabha on Monday.
In this edition of 'To The Point', the big talking point is the political confrontation in Lok Sabha following Leader of Opposition Rahul Gandhi’s references to an unpublished memoir by former Army Chief General MM Naravane.
The top focus of this episode of 5 Live is on Pakistan's decision to boycott its match against India at the T20 World Cup.
This special News Today edition covers Pakistan's decision to boycott its T20 World Cup match against India following Bangladesh's withdrawal. The program features analysis by Sunil Gavaskar regarding potential ICC sanctions.
In her 124-minute speech -- after which the Sensex plunged over 1,600 points before staging a partial recovery -- Finance Minister Nirmala Sitharaman announced a higher capital expenditure outlay of Rs 12.2 lakh crore for FY27 and set a fiscal deficit target of 4.3 per cent of GDP.
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.
On this India Today special report, Maria Shakil examines the significant crash in precious metal prices as gold and silver hit their lower circuits just ahead of the Union Budget. Maria Shakil noted that there has been a 'sudden increase post 2024 in the last two years and the increase has been rather sharp from 2025 January onward' before the current downturn. The programme explores the factors behind this parabolic rise and subsequent crash, including profit booking, the 'fear of missing out' (FOMO) among investors, and global geopolitical uncertainty. Analyst Rajiv Mantri contributes to the discussion, suggesting that the price volatility reflects a larger narrative regarding the status of the US dollar in the international economy and the search for safe-haven alternatives. The report provides a detailed graphic assessment of how prices have moved over the last year, highlighting the impact of global turbulence on Indian commodity markets.
On this Special Report, the focus is on the presentation of the Union Budget 2026 as Finance Minister Nirmala Sitharaman heads to Parliament. The transcript captures the live movement of the Finance Minister's convoy from Rashtrapati Bhavan to the new Parliament building after seeking formal permission from the President of India. A key moment highlighted is when the reporter notes, 'This is the convoy of Finance Minister Nirmala Sitharaman which is now heading towards the Parliament' for the crucial Cabinet meeting. The programme discusses the evolution of budget presentations from 1985 to the current televised era, noting how finance ministers have become more conscious of a national audience. Analysts on the show deliberate on the shift from tax-heavy budgets to those focused on tariffs and infrastructure. The discussion further explores the government's significant investments in roads and power since 2020, questioning the remaining fiscal headroom for continued infrastructural spending as the nation awaits the official tabling of the budget at 11 am.
On this special broadcast of the Business Today show on India Today, Shweta Singh and Rajdeep Sardesai analyze the expectations and political symbolism surrounding the Union Budget 2026. Shweta Singh highlights the significance of Finance Minister Nirmala Sitharaman’s attire, noting, 'She's wearing a hand-woven Kanjiwaram saree, sending a message to Tamil Nadu.' The discussion delves into the shift from 'Dream Budgets' to a long-term vision for 'Vixit Bharat 2047'. Rajdeep Sardesai questions the translation of intent into ground-level action, particularly regarding deregulation and the fiscal health of states. Guest Shankar Iyer critiques the slow pace of labor reforms and the persistent 'Tax Inspector Raj' affecting MSMEs. The panel also examines the 16th Finance Commission's role in addressing the North-South divide and the impact of upcoming state elections on fiscal policy. The programme concludes with observations on how the government’s 'reform express' faces challenges in sectors like power and ease of doing business despite a decade of intent.
On this India Today special, veteran journalist Rajdeep Sardesai reflects on the evolution of the Union Budget in India, tracing his experience back to 1994. Recalling his early days at NDTV, Sardesai notes, 'In 1994, I was at NDTV when we were commissioned to do the post-budget reactions' outside the BSE. He highlights how the post-1991 era brought a unique excitement to budget announcements that persists today, despite the process becoming more 'mundane' following major tax reforms. The discussion covers the shift from high-stakes policy changes to the current market preference for stability and the absence of 'retrospective tax bombshells'. Sardesai also addresses the impact of global geopolitics on the Indian economy, questioning the influence of external leaders on India's sovereign energy decisions, specifically regarding oil imports from Venezuela and Iran. The panel further examines the feasibility of the government's disinvestment targets and the long-term roadmap for defense allocations in the upcoming budget by Nirmala Sitharaman.
On this Special Report, Managing Editor Siddharth Zarabi leads a panel discussion on the expectations and market sentiments surrounding the Union Budget. Analyzing the current economic climate, Zarabi emphasizes the need for stability, stating, 'Don't surprise anyone negatively, continue down the path of fiscal consolidation and solid factual credible numbers.' The discussion covers the 'Goldilocks movement' of the Indian economy, the shift toward the new tax regime, and the limited scope for indirect tax tinkering. The panel, including Chetan Bhutani and Sakshi Batra, explores capital expenditure in infrastructure, the potential for a 10-25% hike in defense allocation following 'Operation Sindoor', and the necessity of triggering 'animal spirits' in private investment. Dr. Baru highlights that while fiscal stabilization is on track, domestic demand and private capital formation remain stagnant. The program provides a comprehensive look at how the finance ministry might balance non-tax revenues with high-priority spending in a shifting global world order.
On this special budget broadcast, financial expert Manish Singh discusses the key triggers for market sentiment ahead of the Union Budget announcement. Singh highlights that the 'only statement which the markets would be watching out for carefully would be the taxation part, LTCG, STCG, STT' and suggests a need to lower these to ease market worries. The discussion covers critical fiscal metrics, including a projected fiscal deficit of 4.2% and a nominal GDP growth assumption of 10.5%. Singh anticipates that FY26 capital expenditure numbers might be reduced, potentially leading to elevated capex of approximately 12.5 lakh crore for FY27. The transcript also notes a significant crash in gold and silver prices at the market open, with the Nifty showing nervousness. Other experts point to volatility in the metals index and potential movements in defense, railways, and PSU stocks as the budget speech commences on an unusual Sunday session.
In this India Today special report, Maria Shakil leads coverage as Finance Minister Nirmala Sitharaman prepares to present her ninth Union Budget. For the first time in 75 years, the Finance Minister is expected to read 'Part B' of the budget speech in its entirety, focusing on custom reforms and deregulation. The government aims to balance CAPEX-led growth with consumption relief while emphasizing digital transformation through a tablet-based 'Bahi Khata' at the new Kartavya Bhawan. Key discussions include potential tweaks to the Security Transaction Tax (STT), recalibration of capital gains tax, and increased allocations for PM Awas Yojana and Ayushman Bharat. Union Minister Piyush Goyal provides insights into India's trade deal with the European Union. Analysts examine the 'K-shaped' economy, global headwinds, and the role of cooperative federalism in driving labor-intensive manufacturing. The program also highlights the participation of women in the budget drafting team to address household economic concerns ahead of crucial elections in five states.
On this special broadcast, Rajdeep Sardesai discusses the historic significance of the Union Budget 2026 as Finance Minister Nirmala Sitharaman prepares to present her ninth consecutive budget, surpassing Morarji Desai's consecutive record. Sardesai notes that this occurs 'at a time of uncertainty and global headwinds.' Business Today TV Head Siddharth Zarabi joins the discussion, highlighting a potential 'fundamental change' in the budget's structure, specifically regarding Part B, which may shift toward a long-term vision for 'Viksit Bharat' rather than just taxation changes. The panel, including Shailender Bhatnagar and Abha Bakaya, analyzes market expectations amid lackluster trade and global political shifts. The program also announces the National Stock Exchange as the new prime sponsor for the network's market shows. The discussion focuses on whether the government will provide a 'major reform push' to incentivize private CAPEX and boost consumption to maintain India's robust growth trajectory in a challenging global environment.
On this news bulletin, host Maria Shakil discusses the upcoming Union Budget as Finance Minister Nirmala Sitharaman prepares to present her ninth consecutive budget, creating history in Indian governance. Reporting from Vijay Chowk, Ketan Bhutani notes that 'something on deregulation could probably be announced' alongside a significant push for MSMEs and a potential 8-10% increase in infrastructure allocation to nearly ₹12.5 lakh crore. The panel, including Shankar Aiyar and Rajiv Mantri, evaluates the 'reform, perform, and transform' mantra, highlighting the critical role of states in asset monetisation and labour-intensive manufacturing. The discussion underscores the performance of states like Maharashtra, Uttar Pradesh, and Tamil Nadu in attracting investments and driving industrial growth. The programme explores the transition from government-led CapEx to the need for private investment and state-level deregulation to improve the ease of living and economic liquidity.
On this broadcast, economist Sanchita Mukherjee analyses the expectations and strategic direction of the Union Budget. Mukherjee highlights the importance of fiscal consolidation and execution, stating, 'The tiger lies low, not in fear. The tiger lies low when it's taking in .' She emphasizes that while India's macroeconomic parameters remain pristine, the challenge lies in attracting FDI and translating education into productive skilling and job creation. The discussion covers the need for public-private partnerships to mitigate regulatory risks and the importance of simplifying execution to cut through red tape. Mukherjee also suggests enhancing agricultural productivity through credit guarantee schemes similar to the MSME sector and proposes aggressive asset and gold monetisation to fund urban infrastructure. The transcript further explores the role of women in the budget drafting team, including Finance Minister Nirmala Sitharaman and DEA Secretary Anuradha Thakur, noting how female participation influences social sector allocations and household budget concerns.
On this Special Report, Karishma Sudhani provides live updates as Finance Minister Nirmala Sitharaman arrives at Kartavya Bhavan ahead of the Union Budget for FY 2026-27. The report highlights Prime Minister Narendra Modi's vision of a 'reform express' that is 'human centric' and focused on technology. Sudhani notes that the budget making team features key women leaders, including Secretary of Economic Affairs Anuradha Thakur, marking a significant shift in the ministry's leadership. The discussion underscores expectations for major customs reforms and the continued digital transformation of the budget process through the tablet-based 'Bahi Khata'. The Finance Minister is expected to present the annual financial statement at 11:00 AM, with India Inc eyeing a 7% growth rate. The programme explores the transition of the Finance Ministry to its new headquarters and the strategic focus on consolidating the government's reform agenda through both direct and indirect tax measures.
On this India Today special report, editor Maria Shakil leads a panel discussion on the expectations surrounding the Union Budget 2026. Expert Nasir Saleem highlights the high stakes for the capital markets, noting that the 'financial statement has become the Santa Claus moment for the Indian economy' with significant expectations for relief. Saleem emphasizes the urgent need for a roadmap to support exporters in labor-intensive sectors like textiles and jewelry, who have been hit by 50% tariff shocks and order cancellations. The discussion also covers the 'massive FPI exodus' and the potential for a stability window to manage sudden capital outflows. Other experts, including Shankar Iyer and Dr. Bhattacharya, weigh in on customs reforms, the K-shaped recovery, and India's macroeconomic resilience in the face of global uncertainties and an unpredictable international trade environment. The panel explores whether the government will rationalize long-term capital gains taxes to boost investor sentiment.
