Finance Minister Nirmala Sitharaman presented the Union Budget 2026–27 today, Sunday, 1 February, marking her record ninth consecutive address and the first ever budget delivered on a weekend.
Prime Minister Narendra Modi hailed the document as a solid foundation for the Viksit Bharat 2047 vision, describing it as a highway of opportunities for 140 crore Indians.
Key highlights include a 4.3 per cent fiscal deficit target, the launch of the New Income Tax Act from April 1, 2026, and a significant ₹12.2 lakh crore capital expenditure push.
While the government focuses on semiconductor missions and the orange economy, opposition leaders have critiqued the budget for being lacklustre regarding immediate rural relief.
Union Budget 2026
The presentation of the 2026–27 Budget is historic not only for its content but also for its timing, being the first time in Indian history that the Union Budget was tabled on a Sunday.
This session followed the Economic Survey which projected a growth rate of 7 per cent to 7.5 per cent, positioning India to soon become the world’s third largest economy.
Prepared at the newly named Kartavya Bhavan, the budget serves as a critical bridge to the New Income Tax Act, 2025, which will replace the legacy 1961 Act. The move aims to simplify compliance and reflects what the Prime Minister calls trust based governance in a volatile global economic environment.
PM Modi on Budget
Prime Minister Narendra Modi hailed the 2026-27 Union Budget as a futuristic and historic document that serves as a highway of boundless opportunities for 140 crore Indians. He emphasized that the budget provides fresh fuel to India’s Reform Express, opening new avenues for talented youth to excel.
Highlighting the focus on Nari Shakti, he noted that the record ninth consecutive budget by a woman Finance Minister reflects the empowered presence of feminine strength. The Prime Minister also stated that these strategic allocations for semiconductors, AI, and green energy strengthen the foundation for a Viksit Bharat by 2047.
Strategic Duties
During her speech, Finance Minister Sitharaman outlined three specific kartavyas or duties for the nation: accelerating economic growth, fulfilling citizen aspirations, and ensuring inclusive development.
Significant allocations include ₹10,000 crore for the Biopharma SHAKTI scheme and an increase in the India Semiconductor Mission (ISM) 2.0 outlay to ₹40,000 crore.
Prime Minister Modi, in his post budget address, congratulated the youth and women, stating that the budget provides a big boost to employment and reflects nari shakti through initiatives like establishing a girls hostel in every district.
Additionally, the government announced seven high speed rail corridors and three dedicated chemical parks to bolster domestic manufacturing.
The Logical Indian’s Perspective
At The Logical Indian, we believe that the journey toward a Viksit Bharat must be paved with empathy and social equity. While the focus on high tech manufacturing and fiscal consolidation is essential for global competitiveness, the heart of our nation remains in its villages and small towns.
We welcome the emphasis on mental healthcare through NIMHANS 2 and the support for MSMEs, yet we urge the government to ensure that these digital and industrial strides do not widen the existing wealth gap.
Also Read: Union Budget 2026: What Gets Cheaper and What Gets Costlier for You? Check Full List
