Budget 2026 | Key highlights

way2barak Feb 1: Budget 2026 | Key highlights :

-No changes in Income Tax slabs 2026

-New Income tax act will come into effect from April 1, 2026

-Taxpayers with ITR1 and ITR2 to continue to file till Jul 31

-FM proposed to reduce TCS rates for education, medical purposes

-FM proposed to allow duty-free imports of specified inputs

-FM proposed to increase limit for duty-free imports of inputs used for processing sea foods

-FM proposed to exempt duty on 17 medicines

-FM proposed to exempt Minimum Alternate Tax for non-residents

-FM proposed high-powered ‘Education to Employment and Enterprise’ standing committee

-FM proposed 7 high-speed rail corridors

-FM proposed to increase public capex to ₹12.2 lakh crores

-FM proposed integrated programme with five sub-parts

-FM Sitharaman proposed to operationalise 20 new national waterways over next 5 years

-FM Sitharaman proposed setting up mega textile parks

-FM Sitharaman proposed to set up ₹10,000 crore to create champion SMEs

-FM proposed Bio Pharma Shakti to develop India as global bio-pharma hub

-FM Sitharaman announced Semiconductor Mission 2.0