Page 27 - Budget 2026

Ringing in a new era in the Union Budget season of records and firsts

As FM Nirmala Sitharaman presents her ninth straight Budget, the finance ministry marks a new era-shifting the historic exercise from North Block to the modern Kartavya Bhawan

Scrap OID cess on pre-NELP, nomination blocks: Oil sector's Budget plea

The oil and gas industry has sought abolition or a review of the oil industry development (OID) cess on crude oil produced from nomination and pre-NELP exploration blocks in the FY27 Union Budget, citing adverse impact on domestic production and project viability. OID cess, levied under the Oil Industries (Development) Act, 1974, was converted from a specific rate to an ad-valorem levy of 20 per cent from March 1, 2016, following a sharp fall in global crude prices. While the shift to an ad-valorem structure was intended to provide relief, oil and gas industry association Federation of Indian Petroleum Industry (FIPI) in a representation for FY27 Budget to the finance ministry said the 20 per cent rate has proved excessive, noting that historically the cess has ranged 8-10 per cent of crude prices. The cess applies only to crude produced from nomination and pre-New Exploration Licensing Policy (NELP) blocks, many of which are mature and in decline, requiring higher investment to ...

Ahead of FY27 Budget, agri leaders seek tech push to drive growth

Ahead of the FY27 Budget, agriculture industry leaders and experts are making a strong pitch for increased investments in digital infrastructure, climate-resilient farming practices, and technology adoption to transform a sector that employs nearly half the country's workforce but contributes less than a fifth to national output. With agriculture and allied sectors supporting about 45 per cent of India's workforce while contributing only around 18 per cent to the gross value added, industry voices say Budget 2026-27 presents a critical opportunity to reposition the sector as an engine of economic growth rather than just a welfare concern. "Agriculture is increasingly being recognised not merely as a welfare sector, but as a credible engine of economic growth -- one that can drive productivity, employment, rural demand and resilience," said Amit Vatsyayan, Leader, GPS-Agriculture, Livelihood, Social and Skills at EY India. Dairy sector seeks support Heritage Foods Ltd Executive ...

Budget 2026 should boost private investment, ensure tax clarity: EY India

EY India says Union Budget 2026 should focus on tax certainty, private investment and sector reforms to support growth amid global uncertainty

70% of Nifty 500 stocks in red in Jan 2026: What's next for Indian markets?

Indian stock markets start 2026 on a weak note, with 70 per cent of Nifty 500 stocks in red amid FII selling, global uncertainty, and tariff worries

Gems, jewellery sector seeks duty cuts, GST relief ahead of Budget FY27

In a bid to strengthen India's gem and jewellery competitiveness amid a challenging trade landscape, the gems and jewellery sector has sought targeted duty rationalisation, procedural reforms and reduction in GST in the upcoming Union Budget 2026-27. The Gem and Jewellery Export Promotion Council (GJEPC), in its pre-Budget recommendations to Finance Minister Nirmala Sitharaman, has made several proposals to make Indian exports more cost-efficient and position India as a diamond trading and value-discovery centre. "The global gem and jewellery trade is undergoing a major transformation. With high US tariffs, evolving consumer preferences, and shifting global supply chains, it is imperative that India maintains its competitive edge," GJEPC chairman Kirit Bhansali said. Bhansali further noted that the pre-Budget proposals are focused on making Indian exports more cost-efficient, strengthening SEZ operations, and improving policy frameworks that encourage investment and skill ...

Sports infra may see major Budget push as India eyes hosting Olympics

The government may announce a long-term sports infrastructure plan in Budget 2026-27 as India prepares to host the 2030 Commonwealth Games and plans a bid for the 2036 Olympics

Markets to stay sideway till US-India sign trade deal: Shreyash Devalkar

A breakthrough in negotiations or clarity on tariff policy could lift sentiment, said Shreyash Devalkar, Head - Equity at Axis AMC

Broader geopolitical risks not fully priced-in, says Trideep Bhattacharya

Indian equities outlook 2026: Trideep Bhattacharya of Edelweiss MF decodes geopolitical risks, Budget 2026 expectations, sector winners, consumption revival and portfolio strategy

Deloitte suggests import duty rationalisation in Budget to boost exports

Rationalising the import duty structure and increasing allocations in the forthcoming Budget would help boost domestic manufacturing and the country's exports, Deloitte India suggested on Tuesday. It also said reforms to the Special Economic Zone (SEZ) regime such as allowing domestic supply on a duty-forgone basis, easing sub-contracting norms and exempting value addition from customs duty along with a limited customs amnesty scheme would improve competitiveness and reducing litigation. The Budget for 2026-27 is expected to be presented on February 1. The consulting firm said that to give a sustained boost to India's exports, the Union Budget should build on the government's ongoing efforts to strengthen domestic manufacturing and enhance export competitiveness. "A key measure would be to further rationalize the customs duty structure - lowering duties on parts and components in sectors where India has achieved optimal manufacturing capacity, while increasing duties on finished .

Renewable energy industry seeks sops for green finance in FY27 Budget

The renewable energy industry has sought incentives for research and development as well as for the manufacturing of ingots and wafers in the FY27 Union budget, as the sector looks to transition from capacity additions to execution certainty. The industry has also asked for measures to ramp up transmission infrastructure and long-term green finance. Finance Minister Nirmala Sitharaman is scheduled to table the Union Budget for the financial year 2026-27 in Parliament on February 1. Industry stakeholders said sustained growth in renewables would depend on policy clarity, financially sound utilities and bankable power purchase agreements, along with targeted interventions to support distributed solar, storage-linked solutions and hybrid systems. Jakson Group Chairman Sameer Gupta said the FY27 budget offers an opportunity to shift the focus from headline capacity announcements to ensuring execution across the renewable energy ecosystem. A clear policy push towards distributed energy

FACSI urges govt to ease GST, credit norms for MSEs in upcoming Budget

The Federation of Associations of Cottage and Small Industries (FACSI) has urged the Centre for tax, credit and regulatory relief measures for micro and small enterprises in the 2026-27 Union Budget, to sustain growth and strengthen their role in the industrial ecosystem. In a recent pre-budget letter to Finance Minister Nirmala Sitharaman, FACSI president H K Guha said the recommendations were framed after consultations with various associations of entrepreneurs and MSE groups across the country. Among the key demands, the industry body has sought the constitution of an exclusive council for small and micro enterprises under the Ministry of MSME, a higher exemption threshold under the GST regime and a single, simplified GST return for small units. FACSI has also called for statutory collateral-free lending of up to Rs 1 crore for MSEs at an interest cap of 6-7 per cent, along with interest subvention during periods of financial stress, and automatic renewal of working capital limit

Will Budget 2026 synchronise Customs law with India's FTA ambitions?

Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier

Budget 2026:Why raising taxes on the super rich could backfire

As Budget 2026 approaches, there’s a renewed debate over whether India should raise taxes on the super-rich to shore up government finances.

Union Budget 2026-27 to be presented on Sunday, Feb 1: Lok Sabha Speaker

The Budget session will start on January 28 and continue until April 2 in two phases. The first phase ends on February 13, with Parliament reconvening on March 9

Budget 2026: Why higher super-rich tax may backfire, experts explain

Tax specialists warn higher surcharges could push wealth and talent overseas

Budget 2026-27: Govt likely to amend law to speed up debt recovery

The Centre may amend the RDB Act in the FY27 Budget to earmark DRTs for high-value cases, speed up recoveries and reduce pendency clogged by low-ticket litigation

Budget 2026-27: CII wants Centre to fast-track PSE privatisation

Ahead of the Union Budget 2026-27, CII has urged the Centre to adopt a demand-based, three-year privatisation pipeline for public sector enterprises to unlock nearly Rs 10 trillion of value

Budget 2026: Experts ask govt to not up income tax surcharge on super rich

The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts. Currently, a surcharge on income tax is payable by high-income individuals with earnings above Rs 50 lakh. A 10 per cent surcharge is levied on income between Rs 50 lakh and Rs 1 crore, 15 per cent (Rs 1-2 crore), and 25 per cent (Rs 2-5 crore). Those earning above Rs 5 crore and are in the new income tax regime pay a 25 per cent surcharge, while those under the old tax regime pay a surcharge at a 37 per cent rate. According to estimates by independent economists, the GST rate cut and lower income tax collections are likely to cost the exchequer around Rs 2 lakh crore in the current fiscal. Any additional source of revenue in FY27 could help the government in additional allocations towards defence and other ...

Micro fertiliser industry seeks uniform 5% GST ahead of upcoming Budget

The Indian Micro-Fertilizers Manufacturers Association has urged the Centre to extend the 5 per cent GST across all fertilisers notified under the Fertiliser Control Order, expedite refunds of excess GST credits, and implement a unified licensing system ahead of the Union Budget. While acknowledging GST 2.0 as a "landmark reform" for the sector, particularly the reduction in GST from 12 per cent to 5 per cent on Schedule 1G items and their mixtures, the industry body said manufacturers are now facing an inverted duty structure on certain inputs where raw materials and services attract higher GST than finished products. "This results in accumulation of excess input tax credit, locking up working capital for manufacturers," said Rahul Mirchandani, president of the association and chairman of Aries Agro Limited. The association has called for a "clear and time-bound mechanism" for quick refund of excess GST credits, especially for sectors operating under price-sensitive and regulated .