Budget 2026: Finance Minister Nirmala Sitharaman is presenting the 9th Union Budget on Sunday (February 1). This is the third budget of Modi Government 3.0. During the budget speech, the Finance Minister said that we have focused on universal service of the people. Because of this, we have been successful in achieving a growth rate of 7 percent. India is moving towards becoming the world’s largest economy. 10 big things about Budget 2026 that you should know.
Megatextile parks will be built- Finance Minister
- Mahatma Gandhi Gram Swaraj-Khadi will be encouraged. This will boost production, training and market.
- Mahatma Gandhi will start the Handloom Scheme, this will also lead to reform in the textile industry sector.
- To promote the textile industry, the focus will be on making National Fiber Scheme, man-made fiber and advanced fiber.
Rs 40 thousand crore for electronic goods- Finance Minister
- Semiconductor mission will be promoted. This will increase production in India, there is a provision to create a supply chain.
- A provision of Rs 40 thousand crore has been made for making electronic goods.
- Along with this, Rs 10 thousand crore will be given for MSME industry.
Announcement of 7 high speed rail corridors
- In Budget 2026, Finance Minister Nirmala Sitharaman has announced seven high speed rail corridors.
- These corridors include Delhi-Varanasi, Varanasi-Siliguri.
- 20 new national highways will be built in the next 5 years.
- Ship repair facilities will be developed in Varanasi and Patna.
- Along with this, the launch of the Seaplane VGF Scheme was announced.
India will become global hub of bio-pharma- Finance Minister
- India will be developed as a global biopharma manufacturing centre.
- Rs 10 thousand crore will be spent in the field of biopharma in the next five years.
- Biologics and biosimilars will be produced domestically.
Mineral corridors will be built – Finance Minister
- Mineral rich states will be assisted for rare mineral corridor.
- Mineral corridors will be built in Odisha, Kerala, Andhra Pradesh and Tamil Nadu.
- Two hi-tech tool rooms will be constructed under the Chemical Service Bureau.
- Three chemical parks will be established.
India Semiconductor Mission 2.0 will be launched
- Indian intellectual property and supply chain will be strengthened.
- Research and training centers based on industries will be established.
- Investment in Electronics Components Manufacturing Scheme will be doubled.
Three Ayurvedic AIIMS will be built- Finance Minister
- High quality Ayurvedic products will be exported
- Three new AIIMS of Ayurveda will be built
- Target to create one lakh specialist healthcare professionals in 5 years
- National labs will be built for testing Ayurvedic medicines
- Announcement of WHO Traditional Medicine Center in Jamnagar
‘Women’s hostels will be built in every district.
A high level committee will be formed on education, employment and entrepreneurship.
The committee will focus on development, employment and export possibilities.
It is proposed to prepare skilled professionals for developed India.
A women’s hostel will be built in every district for higher education.
New AHP institutions will be created in private and government sectors.
Announcement of 5 Buddhist circuits in north-eastern states
- Announcement of Buddhist circuit in 5 states of North-East.
- The recommendations of the 16th Finance Commission were accepted.
- A target has been set to keep the debt at 50% of the economy.
- A target has been set to keep the fiscal deficit below 4.5% of GDP.
New Income Tax Act will come into effect from 1 April 2026
- Motor accident claims will be exempted from income tax.
- The New Income Tax Act will come into effect from 1 April 2026.
- The tax filing form has been simplified.
- It will be easy for the common man to fill the tax form.
- Now 2% tax will be imposed on overseas tour programs.
