Unique BUDGET 2026, written by Nirmalendu Kar Purkayastha 

//Nirmalendu Kar Purkayastha//

The finance minister Nirmala Sitharaman started the Budget presentation at 11 am in Parliament today and ended it within 81 minutes. She has done it back to back nine times.

In her budget speech major announcements that focused on three “kartavyas” or duties of the central government – accelerating and sustaining economic growth; fulfilling aspirations of the people; and the vision of ‘Sabka Sath, Sabka Vikas’.

Budget take away :
1. Sustaining Economic Growth .
2. Strengthening the Foundations of
Growth.
2.1 Infrastructure .
2.2 Ensuring long-term energy security and stability
2.3 Urbanisation: City Economic Regions .
3. People Centric Development
4. Trust based Governance.
5. Ease of Doing Business and
Ease of Living .

6. Fiscal matters
Rupee Comes From ~
Corporation Tax 18%
Borrowings and Liabilities 24%
Income Tax. 21%
Customs 4%
Union Excise Duties 6%
Non-Debt Capital Receipts 2%
Non-Tax Revenues 10%
GST and other taxes 15%

Rupee Goes To ~
Other Expenditures 7%
States Share of Taxes 22%
Finance Commission & other transfers 7%
Centrally Sponsored Scheme 8%
Interest Payment 20%
Civil Pension 2%
Central Sector Scheme 17%
Major Subsidies 6%
Defence. 11%

Capital Receipts 18.1
Effective Capital Expenditure 17.1

Revenue Receipts. 35.3
Revenue Expenditure. : 41.3

While there was no change in income tax slabs, several proposals were laid out to boost tax reforms for manufacturing sector, service sector, financial sector, for increasing farmer’s income by enhancing productivity in agricultural and allied sector, and for ease of doing business and ease of living.
Budget 2026 Mainly emphasis on long-term growth,
Although there is 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.
Budget 2026 offer a roadmap for showcasing India’s local strengths on the global stage, highlighting the country’s current capabilities as well as its future potential as well as stronger self reliance in defence and security to reinforce long term strategic stability . Budget is also YUVA SHAKTI-DRIVEN BUDGET EMPHASIZES ON GOVERNMENT’S ‘SANKALP’ TO FOCUS ON POOR, UNDERPRIVILEGED AND THE DISADVANTAGED .

(Nirmalendu Kar Purkayastha is renowned Cost Accountant of this region)