Union Budget 2026 Live Updates: Nirmala Sitharaman delivers 9th straight Budget speech

Coconut Production Scheme to enhance productivity; focus on cashew, cocoa and sandalwood

Speaking on third Kartavya, Ms. Sitharaman says this will comprise increasing farmer incomes, empowering divyanjan and empowering the vulnerable with access to mental health and trauma care. Focus will be on northeast States to increase development opportunities.

Ms. Sitharaman speaks on proposals for fisheries and animal husbandry sector. She announces support fo High-value agriculture such as coconut, sandalwood, cocoa, and cashew in coastal areas.

She proposes a Coconut Production Scheme to enhance productivity. Similar proposals are also announced for cashew, cocoa, and Sandalwood production.

Launch of Khelo India Mission

Ms. Sitharaman proposes to set up a Khelo India Mission to transform the Sports sector. This will enable the training of coaches and setting up competitions and leagues.

Tourism proposals listed by Ms. Sitharaman

Ms. Sitharaman proposes the setting up of a National Institute of Hospitality by upgrading the existing council.

She also proposes a pilot scheme for upskilling 10,000 guides in 20 tourist spots.

A National Destination Digital Knowledge Grid will be established to enable an ecosystem for researchers, historians and content creators.

She proposes development of ecological trails in Himachal, Uttarakhand and J&K, along with Turtle trails in Kerala, Odisha, Karnataka and three bird-watching trails along Pulicat lake.

She proposes to develop 15 archaeological sites.

Promote India as a hub for Medical-value tourism

Ms. Sitharaman announces proposals for Allied Health Practioners and training for caregivers.

Further, to promote India as a hub for Medical-value tourism, she proposes a scheme to support States in establishing five regional medical hubs in partnership with private sectors.

With regards to Yoga, Ayurveda, she sets up proposal of three new All India Institutes for Ayurveda, upgrade AYUSH pharmacies and upgrade WHO traditional medical center in Jamnagar.

Make India a global leader for Service Sector by 2047

Speaking on emerging technologies and AI, Ms. Sitharaman announces a proposal to set up a high-powered Committee to recommend measures for Service sector as score-driver of Viksit Bharat.

This, she says, will also measure the impact of emerging technologies and AI on jobs.

On the Ease of Doing Business

On the Ease of Doing Business, Ms. Sitharaman announces that individual persons residing outside India will be permitted to invest in equity instruments of listed Indian companies through the portfolio investment scheme.

 She also proposes to increase the investment limit for PROI from 5% to 10%

High-level committee on banking for Viksit Bharat

Speaking on the Financial Sectors, Ms. Sitharaman proposes the setting up of a high-level committee on banking for Viksit Bharat to comprehensively review the sector. 

Ms Sitharaman proposes the restructuring of Power Finance Corporation and Rural Electrification Corporation. 

She also proposes a comprehensive review of the Foreign Exchange Management non-debt instruments rules. 

Ms. Sitharaman also announces proposals for Corporate and Municipal Bonds. 

Developing city-economic regions

Speaking on developing city-economic regions (CER), Ms.Sitharaman proposes an allocation of Rs. 5,000 crore per CER over five years for implementing plans. 

Carbon capture utilisation and storage

Ms. Sitharaman proposes an outlay of Rs. 20,000 crore over the next five years for the purpose of Carbon capture utilisation and storage.

Delivering a powerful push for infrastructure

Speaking on delivering a powerful push for infrastructure, Ms. Sitharaman says that the govt will continue to focus on developing infra in cities with over 5 lakh population i.e. Tier 2, Tier 3 cities.

 She proposes increase of Public Capital Expenditure to Rs. 12.2 lakh crores. Ms. Sitharaman proposes to set a Infrastructure Risk Guarantee fund to provide partial credit guarantee to lenders. 

She proposes to establish new dedicated freight corridors connecting Dankuni in the East to Surat in the West.

Ms. Sitharaman also announces a proposal to operationalise 20 new waterways over next five years, starting with Odisha.

A ship-repair ecosystem will be set up in Varanasi and Patna. 

Creating champion MSMEs via three-pronged approach.

Speaking on creating champion MSMEs, Ms. Sitharman proposes a three-pronged approach. This includes equity support via a Rs. 10,000 crore SME growth fund. Also, she proposes to top-up the self-reliant India fund with Rs. 2,000 crore. She also proposes liquidity support via TREDS platform. 

Ms. Sitharaman says that the government will facilitate professional institutes to design short-term courses and modules to develop a cadre of Corporate Mitras.

Scheme to revive 200 legacy industrial clusters

Speaking on rejuvenating legacy industrial sectors, Ms. Sitharaman proposes a scheme to revive 200 legacy industrial clusters to improve cost competitiveness and efficiency. 

Dedicated initiative for Sports Goods

Proposing a dedicated initiative for Sports Goods, Ms. Sitharaman says this will help manufacturing, research and equipment design. 

Integrated program for labour-intensive textile sector

Proposing an integrated program for the labour-intensive textile sector, Ms. Sitharaman announces the 

1. National Fiber Scheme for self-reliance in natural, manmade and new-age fibers
2. Textile expansion and employment scheme
3. National Handloom and Handicraft scheme
4. Tex-eco initiative 
5. Samarth 2.0

She also proposes to set up mega-textile parks in challenge mode. 

Ms. Sitharaman also announces the Mahatama Gandi Gram Swaraj Initiative to strengthen Khadi, Handloom and Handicrafts.

Building capacity for Strong Capital Goods

Towards building capacity for Strong Capital Goods, Ms. Sitharaman proposes, high-tech toolrooms establishment for manufacturing high-precision components at scale and lower costs. She also announces the introduction of a scheme for enhancement of construction and infrastructure equipments to strengthen production of high-value CIE. The Finance Minister also proposes a scheme for container manufacturing with allocation of Rs. 10,000 crore over 5 years.

Dedicated rare-earth corridors

Speaking on the scheme for rare-earth, permanent magnets, Ms. Sitharaman proposes to support the mineral -rich States of Odisha, Kerala, Andhra Pradesh and Tamil Nadu to establish dedicated rare-earth corridors to promote mining, processing, research and manufacturing

India’s semiconductor mission 2.0

Building on the India’s semiconductor mission 1.0, the government will launch ISM 2.0 to produce equipment and materials, design full-stack Indian IT and fortify supply chains. Propose to increase the outlay for Electronics Components Manufacturing Scheme to Rs. 40,000 crore.

Biopharma Shakti with outlay of Rs. 10,000 crore over five years

Expanding on the scaling up of manufacturing in seven strategic and frontier sectors, Ms. Sitharaman highlights Biopharma strategy for health advancement. 

India’s disease burden, she says, is shifting towards non-communicable diseases like diabetes. To develop India as Biopharma manufacturing hub, she proposes the Biopharma Shakti with an outlay of Rs. 10,000 crore over the next five years. 

Sitharaman proposes intervention in six areas

Speaking on the first Kartavya – Accelerate and sustain economic growth — Ms. Sitharaman proposes intervention in six areas:

• Developing city-economic regions. 
• Scaling up manufacturing in seven strategic and frontier sectors.
• Rejuvenating legacy industrial sectors
• Creating champion MSMEs
• Delivering a powerful push for infrastructure
• Ensuring long-term security and stability 

14Need supportive ecosystem to fulfil the three Kartavyas: Sitharaman

This three-fold approach, the Finance Minister says, requires supportive ecosystem. These include sustaining the momentum of structural reforms, robust and resilient financial sector and cutting-edge technologies including AI applications

This is a unique yuva shakti-driven Budget: Sitharaman

Noting that the Union Budget 2026-27 is a unique yuva shakti-driven Budget, the Finance Minister says that the Government’s sankalp is to focus on the poor, underprivileged and disadvantaged.

To deliver on this, the Government is inspired by three Kartavyas:

• Accelerate and sustain economic growth and enhancing productivity and competitiveness and building resilience to volatile global dynamics
• Fulfil aspirations of our people and build their capacity making them partners in India’s prosperity
• Ensure that every family, sector and region has access to resources, amenities and opportunities for meaningful participation. 

Keeping Atmanirbharta as north star: Sitharaman

Saying that the government has kept Atmanirbharta as a north star, has resulted a high growth rate of 7%. 

She notes that today’s external environment is such that trade and multilateralism are imperative and access to resources and supply chains are disrupted. “India must remain deeply integrated with the global markets, exporting more and attracting stable long-term investments.”

Economy has been marked by a state of stability: Sitharaman

Presenting the Budget for the ninth time, Finance Minister Sitharaman says that since the Modi Government assumed office, the economy has been marked by a state of stability, fiscal discipline, sustained growth and moderate inflation.

Union Finance Minister Nirmala Sitharaman begins Budget Speech for FY2026-27

Union Finance Minister Nirmala Sitharaman is now presenting the Union Budget for the fiscal year 2026-27, in the Lok Sabha. 

This is her ninth consecutive time presenting the Union Budget.