Nirmala Sitharaman

February 1, 2026 5:51 PM

Budget 2026-27 announces record support for fisheries sector; focus on value chain, exports and coastal livelihoods

The Union Budget 2026-27 has proposed the highest-ever annual budgetary support of ₹2,761.80 crore for the fisheries sector, underlining the government’s focus on strengthening coastal and inland fisheries, boosting exports and improving livelihoods of fishers and fish farmers. Of the total allocation, ₹2,530 crore has been earmarked for scheme-based interventions, with the Pradhan Mantri Matsya Sampada Yojana (PMMSY) continuing as the central pillar with an allocation of ₹2,500 crore fo...

February 1, 2026 5:45 PM

Union Budget 2026-27 announces launch of Khelo India Mission; Rs 500 crore earmarked for sports goods manufacturing

The Union Budget 2026–27 announced the launch of a new Khelo India Mission aimed at transforming India’s sports sector over the next decade, with a strong focus on talent development, infrastructure creation and manufacturing-led employment generation. Presenting the Budget in Parliament on Sunday, Finance Minister Nirmala Sitharaman described the proposals as youth-driven and inspired by ideas emerging from the Viksit Bharat Young Leaders Dialogue 2026. Highlighting the economic and social...

February 1, 2026 5:02 PM

Budget 2026-27 raises safe harbour threshold for IT services to Rs 2,000 crore, introduces automated approval process

In a major relief for India’s information technology sector, Finance Minister Nirmala Sitharaman on Sunday announced a substantial expansion of the safe harbour framework for IT services in the Union Budget 2026-27, raising the eligibility threshold from ₹300 crore to ₹2,000 crore. Presenting the Budget in Parliament, the Finance Minister said India has emerged as a global leader in software development, IT-enabled services, knowledge process outsourcing and contract research and developm...

February 1, 2026 4:37 PM

Budget 2026-27 announces Rs 10,000 crore SME Growth Fund; push to boost MSME liquidity and professional support

Finance Minister Nirmala Sitharaman on Sunday announced a series of measures in the Union Budget 2026–27 aimed at strengthening Micro, Small and Medium Enterprises (MSMEs), including the launch of a dedicated ₹10,000-crore SME Growth Fund to nurture future industry champions. Presenting the Budget in Parliament, the Finance Minister said the government, guided by Prime Minister Narendra Modi, has consistently prioritised action-driven reforms to accelerate and sustain economic growth. She n...

February 1, 2026 4:25 PM

Budget 2026-27 pitches AI and emerging technologies as growth drivers; Bharat-VISTAAR to support farmers

The Union Budget 2026-27 places strong emphasis on artificial intelligence (AI) and emerging technologies as key enablers of inclusive growth, capacity building and job creation, Finance Minister Nirmala Sitharaman said while presenting the Budget in Parliament on Sunday. The Budget positions technology as a central pillar in fulfilling the government’s second kartavya - empowering citizens to participate meaningfully in India’s journey towards prosperity. It highlights the role of AI, quan...

February 1, 2026 4:14 PM

Budget 2026-27 cuts import duty on personal goods, grants relief on medicines and streamlines customs procedures

The Union Budget 2026-27 has proposed sweeping reforms in customs and central excise aimed at simplifying the tariff structure, easing compliance, improving trade facilitation, and providing relief to passengers and patients, Union Finance Minister Nirmala Sitharaman said in Parliament on Sunday. Presenting the Budget, the Finance Minister said the measures are designed to support domestic manufacturing, enhance export competitiveness and correct duty inversion, while strengthening trust-based ...

February 1, 2026 4:04 PM

Two new schemes for empowerment of Divyangjan in Union Budget 2026-27

The Union Budget 2026-27 has introduced two major initiatives aimed at enhancing skill development and access to assistive technologies for persons with disabilities (Divyangjan), reinforcing the government’s commitment to inclusive growth under the vision of Sabka Sath, Sabka Vikas. Presenting the Budget in Parliament on Sunday, Union Finance Minister Nirmala Sitharaman said the government’s objective is to ensure that every family, community and sector has access to opportunities and reso...

February 1, 2026 3:50 PM

Defence Ministry allocated record Rs 7.85 lakh crore in Union Budget 2026-27

The Ministry of Defence has been allocated an all-time high outlay of ₹7.85 lakh crore in the Union Budget 2026-27, marking a significant increase of over 15 per cent compared to the Budget Estimates of FY 2025-26. The allocation, which amounts to about 2 per cent of the estimated GDP, is the highest among all Union ministries and accounts for 14.67 per cent of the total Central Government expenditure. The enhanced allocation comes in the backdrop of heightened security requirements following...

February 1, 2026 3:36 PM

Union Budget 2026-27 lays foundation for Viksit Bharat by 2047: PM Modi

Prime Minister Narendra Modi on Sunday said that the Union Budget 2026-27 lays a strong foundation for India’s journey towards becoming a developed nation by 2047, describing it as ambitious, future-ready and reflective of the aspirations of the people. In a video message following the presentation of the Budget in Parliament, the Prime Minister said the Budget would give “new energy and new momentum” to India’s ongoing reform process, calling it a key milestone in accelerating economic...

February 1, 2026 2:57 PM

Budget 2026-27 announces launch of India Semiconductor Mission 2.0, tax holiday for foreign firms offering global cloud services

The Union Budget 2026-27 has unveiled a series of measures aimed at accelerating growth in India’s electronics and information technology sectors, including the launch of India Semiconductor Mission (ISM) 2.0, an enhanced outlay for electronics manufacturing, and tax reforms to provide greater certainty to the IT and ITeS industry. Presenting the Budget in Parliament on Sunday, Finance Minister Nirmala Sitharaman announced that ISM 2.0 will focus on producing semiconductor equipment and mater...