The Union Budget 2026
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The Union Budget 2026: The Union Budget 2026–27 was presented by Finance Minister Nirmala Sitharaman on 1st February, 2026. This budget is characterized by a "growth-first" approach, focusing on infrastructure,high-tech manufacturing, & digital transformation in agriculture. Here is a brief summary of the key highlights: 1. Macro-Economic Framework Total Outlay: The budget size is pegged at ₹53.5 lakh crore. Fiscal Deficit : Targeted at 4.3% of GDP for FY27, continuing the path of fiscal consolidation. Capex Push : Capital expenditure has been raised to ₹12.2 lakh crore, an 11.5% increase, to fuel infrastructure growth. 2. Taxation and Personal Finance New Tax Act: The government announced that the Income Tax Act, 2025 will come into effect from April 1, 2026, aimed at simplifying the 60-year-old tax code. Tax Slabs : There were no changes to the income tax slabs. The new regime remains the default, with income up to ₹12.75 l...