New Delhi [India], February 1 : Finance Minister Nirmala Sitharaman on Sunday rose in the Lok Sabha to present the Union Budget 2026-27 in Lok Sabha. She is presenting her ninth consecutive Union Budget.
Speaking in the House the FM said, "Since we assumed office 12 years ago. India's economic trajectory has been marked by stability. This government led by PM Modi has chosen action over ambivalance, reform over rhetoric. We have pursued far-reaching structural reforms, fiscal prudence and monetary stability, while maintaining a strong thrust on public investment."
"Today, we face an external environment in which trade and multilateralism are imperiled. And access to resources and supply chains are disrupted. New technologies are transforming production systems while sharply increasing demand on water, energy and critical minerals. India will continue to take confident steps towards Vikasit Bharat by balancing ambition with inclusion," she added.
The Finance Minister will also laid on the table two statements under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These include the Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-Economic Framework Statement.
Meanwhile, GST reforms, branded as 'GST 2.0', aimed to simplify indirect taxation through a two-rate structure of 5 per cent and 18 per cent, reduce compliance costs and lower the cost of living through rate cuts on essential goods and services.
This time, the budget document is significant, as the government is likely to focus on export growth following the United States' imposition of a 50 per cent tariff on Indian goods.
On Thursday, FM Sitharaman tabled the Economic Survey of India in Parliament for the 2025-26 financial year.
The Budget session will span 30 sittings over 65 days, concluding on April 2. The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departments.
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