In the Union Budget 2026–27, Finance Minister Nirmala Sitharaman mentioned 14 states, outlining major development projects tied to infrastructure, industry, tourism and connectivity. Poll-bound states like West Bengal, Tamil Nadu, Kerala and Assam received targeted initiatives including high-speed and freight rail corridors, eco-tourism trails, and cultural circuit schemes. Critical mineral rare earth corridors were announced for Odisha, Andhra Pradesh, Tamil Nadu and Kerala, aiming to boost domestic manufacturing. Northeastern states will benefit from a Buddhist Circuit tourism plan, while northern hill regions like Himachal Pradesh, Uttarakhand and J&K get mountain train and hiking projects, enhancing region-specific growth. (PC: The Hindu)

Non-resident Indians can now invest directly in Indian shares through the Portfolio Investment Scheme, Finance Minister Nirmala Sitharaman said in the Union Budget 2026 speech. The scheme lets overseas investors buy and sell stocks using a special RBI-approved bank account. It also defines limits and compliance rules for each transaction. The individual investment cap for persons resident outside India has been raised from 5% to 10%, while the overall company limit goes up from 10% to 24%. Investments made under this route can be repatriated. The government will also review FEMA rules for non-debt instruments to simplify overseas investment flows. (PC: HT)

Budget 2026 has proposed a lower Tax Collected at Source (TCS) rate for select overseas payments under the Liberalised Remittance Scheme. The TCS on foreign tour programme packages will be reduced to a flat 2 per cent from the earlier slab rates of 5 per cent and 20 per cent. The new rate will apply without any minimum amount condition. Remittances sent abroad for education and medical treatment will also attract a reduced TCS of 2 per cent instead of 5 per cent. The budget also clarified that manpower supply services will fall under the TDS contractor category, with tax deduction rates set at 1–2 per cent. (PC: Economic Times)

Finance Minister Nirmala Sitharaman presented Union Budget 2026 with a focus on investment, manufacturing, and health support. Capital expenditure for FY27 was increased to Rs 12.2 lakh crore, and the fiscal deficit target was fixed at 4.3 per cent of GDP. No changes were announced in personal income tax slabs under the new Income Tax Act starting April 1. A tax holiday till 2047 was offered to foreign companies setting up cloud and data centre infrastructure in India. The government removed basic customs duty on 17 essential cancer drugs and expanded exemptions for rare disease treatments. Defence modernisation spending was raised, semiconductor funding was expanded, and seven high-speed rail corridors were cleared to improve connectivity and growth. (PC: X)

Union Budget 2026–27 announced tax relief and compliance changes for people holding small foreign assets. The finance minister said no prosecution will apply for non-disclosure of non-immovable foreign assets with total value below ₹20 lakh. Such cases will face only a fine. This relief will apply from October 1, 2024. The government also launched a one-time six-month disclosure window for selected taxpayers, including students, to declare foreign assets or income. It covers undisclosed assets up to ₹1 crore and certain previously disclosed assets up to ₹5 crore. The Budget also introduced TDS on property sales by non-residents.

Finance Minister Nirmala Sitharaman wore a Kanjeevaram saree while presenting the Union Budget 2026–27, continuing her Budget-day clothing tradition. Over the years, her saree choices have drawn attention for reflecting Indian textile heritage and regional identity. Observers note that her outfits on Budget day often highlight handloom styles and specific states. This year’s Kanjeevaram saree is seen as a nod to Tamil Nadu’s well-known weaving tradition. Such attire choices have become a regular feature alongside the Budget presentation. The practice links cultural representation with a key national financial event without being part of the formal policy announcements. (PC: X)

Union Budget 2026–27 has changed customs duties on several goods, making some items cheaper and others more expensive. Finance Minister Nirmala Sitharaman said duty cuts will lower prices of essential medicines, including 17 cancer drugs, aircraft parts, and microwave components. Electric vehicles and selected leather goods will also benefit from lower duties. The government also allowed duty-free import of certain inputs to support leather exporters facing high US tariffs. Smartphones and tablets made in India are expected to become more affordable. At the same time, customs duty hikes will raise prices of luxury watches and imported alcohol. (PC: HT)

Finance Minister Nirmala Sitharaman announced plans to build seven high-speed rail corridors in Union Budget 2026 to improve inter-city connectivity and support cleaner transport. The proposed routes include Mumbai–Pune, Hyderabad–Bengaluru, Delhi–Varanasi, Varanasi–Siliguri, Pune–Hyderabad, Hyderabad–Chennai, and Chennai–Bengaluru. She said the corridors will link major economic and cultural centres and reduce travel time. The budget also raises public capital expenditure to ₹12.2 lakh crore for FY27 to sustain infrastructure growth. An Infrastructure Risk Guarantee Fund will support large projects. The government also proposed a new East–West freight corridor and expansion of national waterways to improve logistics and cargo movement. (PC: India Today)

Finance Minister Nirmala Sitharaman announced a ₹40,000 crore allocation for the semiconductor sector in Union Budget 2026 under “Semiconductor Mission 2.0”. She said the programme will build on the earlier mission and support industry-led research and training centres. The plan focuses on developing semiconductor equipment and materials using full-stack Indian intellectual property. The government said the budget approach favours reforms and long-term capacity building. Electronics and IT Minister Ashwini Vaishnaw has earlier stated that India is on track to begin commercial chip production in 2026, with multiple plants expected to start operations. Pilot production has already begun in several units during 2025. (PC: NDTV)

Finance Minister Nirmala Sitharaman is set to present Budget 2026 with a stronger focus on long-term economic reforms rather than major tax relief. Government sources say Part B of the speech will highlight reform priorities, including manufacturing growth, export expansion, and global value chain integration. Customs duty simplification and a unified framework for export and manufacturing zones are also expected. India’s macro indicators remain stable, with solid GDP growth and easing inflation. However, fiscal discipline is likely to guide spending plans. Large personal income tax changes appear unlikely after last year’s overhaul, though small tweaks like higher standard deduction and compliance relief for small businesses may be considered. (PC: India Today)