Finance Minister

UPI MDR explained: 40% of the new fee will go to customer banks, 30% to payment gateways and 20% to UPI apps. Know who gets the money.

Addressing the 167th Income Tax Day celebrations, Sitharaman said the department should give taxpayers with an opportunity to correct bona fide mistakes.

FPIs were net sellers of securities worth a record ₹1.8 trillion in FY26, the highest in 34 years and up from ₹1.3 trillion in FY25. The highest outflows were seen in March 2026 at around ₹1.18 trillion.

Minister Sitharaman directed Indian banks to bolster cybersecurity frameworks and reporting protocols to counter AI-driven threats. The high-level mandate emphasizes real-time intelligence sharing and the engagement of specialist agencies to safeguard the national financial ecosystem.

The government is working with the guidance to prevent the current West Asian conflict from becoming a burden on its citizens, finance minister Nirmala Sitaraman said on Friday.

Some opposition members opposed the bill, alleging that it sought to dilute provisions related to companies setting aside 2% of their profit towards corporate social responsibility, which the finance minister refuted.

Nirmala Sitharaman began her Budget 2026 speech at sharp 11 am and continued until 12:26 pm. The Finance Bill was formally tabled in Parliament after the finance minister ended her speech.

The government proposed to raise the STT by more than 50% on futures to 0.05% from 0.02% and to 0.15% from 0.01% on options, raising concerns of a reduction in volumes.

FM Sitharaman also announced that the government will support five university townships in the vicinity of major industrial logistics centres.