Brief by Shorts91 Newsdesk / 05:46pm on 01 Feb 2026,Sunday India
Finance Minister Nirmala Sitharaman presented Budget 2026 with a strong focus on infrastructure, manufacturing, defence and technology. The government expects economic growth of around 7% while keeping the fiscal deficit at 4.3%. Big announcements include new freight corridors, support for semiconductors, AI data centres and higher defence spending. Customs duty has been removed on 17 cancer drugs, making treatment cheaper. Tax compliance will be simpler under a new Income Tax Act from April 2026. Prime Minister Narendra Modi said the budget strengthens reforms and supports long-term growth, though markets reacted negatively due to higher trading taxes.
