Budget 2026 Key Announcement

Budget 2026 Key Announcement

Livemint
Updated1 Feb 2026, 12:46 PM IST
Income Tax Slabs Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman prepares for Budget presentation
Income Tax Slabs Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman prepares for Budget presentation(PTI)

Budget 2026 Key Announcement

Basic customs duty exemption on components and parts required for manufacture of civilian, training and other aircrafts

Increase in limit for duty-free imports specified inputs used for processing seafood products for export, from the current 1% to 3 % of FOB value previous year's export turnover

TDS on sale of immovable property by NRI to be deducted by resident buyer

People can update returns even after reassessment proceedings completed

Non-audit business cases and trusts allowed to file returns till August 31

India has revised higher its expenditure goal to 53.5 lakh crore versus 49.6 lakh crore in FY26.

•⁠ Net market borrowing estimated at 11.7 lakh crore

•⁠ Gross market borrowing seen at 17.2 lakh crore

•⁠ Net tax receipts estimated at 28.7 lakh crore in FY27

7 high-speed rail corridors proposed:

 

Mumbai to Pune,  

Pune to Hyderabad, 

Hyderabad to Bengaluru, 

Hyderabad to Chennai, 

Chennai to Bengaluru,  

Bengaluru to Varanasi,  

Varanasi to Siliguri

India earmarks capex of 12.02 lakh crore outlay for FY27 to further the reforms push: FM

Rare earth corridors in mineral rich TN, Kerala, Odisha and Andhra. FM proposes to launch scheme to support states in establishing three dedicated chemical parks

Duty free imports of specified inputs , which is currently available for exports of leather or synthetic footwear, to exports of Shoe Uppers as well

Complete removal of current value cap of 10 Lakh per consignment on courier exports

Customs Integrated System to be rolled out in 2 years as a single, integrated and scalable platform for all customs processes.

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