Budget 2026

Ahead of the Budget, Prime Minister Narendra Modi told economists that policymaking must stay aligned with India's 2047 vision, calling for mission-mode reforms and long-term growth focus

Gold, wilful default, narcotics and smuggling cases to be kept out

As 2026 begins, a wide set of rule changes quietly come into force. From banking and digital payments to salaries, farming schemes, fuel prices and social media

While future Budgets will continue to specify annual fiscal deficit numbers, these will now be derived from the debt target rather than serving as the primary target

With the Union Budget 2026 around the corner, here is a status check on Budget 2025 promises, from tax reforms and insurance FDI to manufacturing, gig workers and innovation funding

The Union Budget 2026 needs to focus on widening the direct tax base, incentivising private sector investment and freezing peak direct tax rates to further accelerate growth and generate employment opportunities, a report said. Recent reforms under GST 2.0 have demonstrated that simplification and tax moderation can coexist with strong revenue growth, challenging the long-held belief that higher tax rates are necessary to boost collections, a report titled 'Shaping India's New Taxation Ideology: Simplification, Moderation and Growth' said. "As India approaches the Union Budget, the choices made will determine whether taxation becomes a catalyst for long-term economic expansion or a constraint on ambition," the report released by a think tank Think Change Forum (TCF) on Wednesday said. The report outlines a six-point advisory for policymakers, urging them to extend the principles of GST reform to direct taxes, enforcement and investment policy At the core of the advisory is a push f

Three laws passed in Parliament could boost central revenues, reshape GST cess flows, shift MGNREGA costs to states and create new budget headroom ahead of the 2026-27 Union Budget

EY's Economy Watch report said the FY27 Union Budget may focus on boosting domestic demand to sustain growth, complement RBI rate cuts, and offset the negative contribution from net exports

According to Fisme, the Indian banking system operates under conditions of monopolistic competition, with high switching costs giving banks significant market power over borrowers, particularly MSMEs

The Confederation of Indian Industry expects the FY27 Budget to focus strongly on boosting investments to sustain India's high growth momentum

ICEGATE enables e-filing and customs payments by traders; RMS automates risk-based scrutiny; and ICES handles backend assessment and clearance workflows at Customs locations

Revive PPPs, enable group taxation for infra SPVs, fund high-speed rail separately, and prioritise urban projects to reignite growth, argues infra expert

Anant Goenka optimistic on demand revival, outlines budget priorities including defense, electronics hubs, and export incentives

First supplementary demands for grants tabled in Parliament focus on fertiliser and petroleum subsidies amid rising costs

Centre to ramp up awareness, with 15% of the 60 million senior citizen target covered, even as experts flag budgetary issues, slow pace

Industry body CII has urged the government to set up a dedicated finance institution and tech expo fund to support initiatives related to promoting the green economy, as there are significant gaps in long-term and low-cost capital availability in the country. As India moves closer to its goal of becoming a USD 5 trillion economy, advancing a green economy is no longer a choice but a strategic necessity, it said. In its pre-Budget suggestions, the chamber has suggested establishing a dedicated Green Finance Institution (GFI) to mobilise large-scale, low-cost capital for India's green transition across renewable energy, clean mobility, green buildings, and industrial decarbonisation. "The institution could be domiciled in the GIFT City (in Gujarat) to leverage regulatory flexibility and attract foreign capital. It could offer concessional loans, equity support, credit guarantees, and securitization of small-scale green assets to reduce project financing costs," it said in a ...

The Comptroller and Auditor General (CAG) has termed the Assam government budgetary assumptions for 2023-24 "unrealistic and overestimated," pointing out that in several cases supplementary grants were approved where expenditure of the original allotted funds was not even done. It also highlighted non-submission of Utilisation Certificates (UCs) and annual accounts of several autonomous councils and other bodies. The CAG report on state finances for 2023-24, laid in the Assembly on Saturday, said the budgetary assumptions of the state government "continued to be unrealistic and overestimated" during the fiscal year, as it incurred an expenditure of Rs 1,39,449.66 crore against grants and appropriations of Rs 1,69,966.13 crore, resulting in overall savings of Rs 30,516.47 crore. These savings stood at 17.95 per cent of total grants and appropriations made for the year. The report said that "the savings were notional, as the funds were not actually available for expenditure", since t

Experts said meeting the gross tax revenue budget target of ₹42.7 trillion would be difficult as it would require a Y-o-Y expansion of 22 per cent in the November-March FY26 period.

Tourism Ministry seeks increased budget for conservation activities and promotion of museums

India may seek a 20% rise in defence modernisation spending next year as the MoD pushes for faster upgrades, stronger exports, and stricter accountability across domestic and foreign defence suppliers