Union Budget 2026 : Key Announcements at a Glance

New Delhi: Presenting the Union Budget 2026, Finance Minister Nirmala Sitharaman announced a wide-ranging set of reforms across banking, infrastructure, healthcare, fisheries, taxation, and manufacturing.

Banking & Financial Reforms

• High-Level Committee on Banking for Viksit Bharat:
  A high-powered committee will be constituted to undertake a comprehensive review of the banking sector to align it with India’s long-term development goals.

• Foreign Exchange Management Framework Review:
  The government will review the existing foreign exchange management framework to modernise regulations and improve ease of doing business.

• Foreign Investors in Equities:
  Individuals resident outside India can now invest directly in Indian stocks through the Portfolio Investment Scheme.

  • Individual limit raised from 5% to 10%

  • Aggregate cap increased from 10% to 24%

• TDS Simplified for NRI Property Deals:
  Resident buyers will no longer need a TAN to deduct TDS on property purchases from NRIs; a PAN-based challan will suffice.

Healthcare, Education & Employment

• Allied Health Professionals (AHPs):
  Existing institutions will be upgraded and new AHP institutes will be set up in both government and private sectors.

• Geriatric & Allied Care Ecosystem:
  A strong care system covering geriatric and allied health sectors will be developed.

• Education-to-Employment Standing Committee:
  A high-level committee will be set up to identify growth opportunities in the services sector and assess the impact of new technologies, including AI.

• 20,000 Veterinary Professionals:
  A loan-linked capital subsidy scheme will help train and deploy over 20,000 vets, supporting private veterinary colleges, hospitals, diagnostic labs, and breeding facilities.

Infrastructure & Connectivity

• Seven High-Speed Rail Corridors:
  The government will develop seven high-speed rail corridors as growth connectors, including:

  • Mumbai–Pune

  • Hyderabad–Pune

  • Hyderabad–Bengaluru

  • Chennai–Bengaluru

  • Delhi–Varanasi

  • Varanasi–Siliguri

• 20 New National Waterways in 5 Years:

  • Operationalisation of 20 new waterways

  • Regional institutes of excellence for waterways training

  • Ship repair ecosystems in Varanasi and Patna

  • Coastal cargo scheme to boost inland and coastal shipping

  • Support for seaplane manufacturing to improve last-mile and remote connectivity

Fisheries & Rural Economy

• 500 Water Bodies for Fisheries:
  Integrated development of 500 reservoirs and Amrit Sarovars to strengthen fisheries and coastal value chains.
  Market linkages will be enabled through startups, women-led groups, and Fish Farmer Producer Organisations (FPOs).

Manufacturing, Aviation & Defence

• Customs Duty Exemptions:

  • Basic customs duty exemption on raw materials and components for aircraft manufacturing, maintenance, repair, and defence-related units

  • Incentives for indigenisation of seaplane manufacturing

  • Subsidies for seaplane operations

• Cancer Drug Relief:
  Basic customs duty exemption announced on 17 essential cancer drugs and medicines to reduce treatment costs for patients.(Budget speech is ongoing.

•         (More announcements and updates to follow.)