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Key Announcements
Expert Opinion
The Union Budget charts a strong roadmap to Vision 2047, positioning tourism, mobility, and human capital as engines of long-term growth. By recognising tourism as a catalyst for jobs, foreign exchange, and regional development, the government is building a more competitive and resilient travel ecosystem.
The Budget advances the Viksit Bharat 2047 vision of a resilient and self-reliant India.
Budget 2026 emphasizes a compliance‑friendly, trust‑enhancing tax framework over rate cuts.
Reforms related to motor insurance, will meaningfully improve claimant outcomes
The Budget 2025–26 focuses on High-Value Agriculture (HA) and the Allied Sector (A).
The 8.9% increase in infrastructure outlay will come as a booster shot for the commercial vehicles segment.
The 12% increase in budgetary allocation for infrastructure creation next fiscal will be salutary for engineering procurement and construction (EPC) companies.
The FY27 Union Budget signals continuity in India’s macro-growth trajectory, with a consistent infrastructure push and fiscal discipline.
Tax holiday till 2047 for foreign companies providing global cloud services through Indian data centres is a timely measure.
Calculators
A tax calculator estimates tax payable by combining financial data and applicable tax rules, so helping individuals.
Calculators
A tax calculator estimates tax payable by combining financial data and applicable tax rules, so helping individuals.
Budget Photo Gallery
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Budget 2026: FM Nirmala Sitharaman’s magenta Kanchipuram saree turns heads
8th CPC: Conservative estimates Vs whopping 3.25 fitment factor demand
Nirmala Sitharaman’s 9th Budget: A Look Back At The FM’s Beautiful Sarees
6th Pay Commission Vs 5th CPC Recommendation On DA Merger
Who Was Liaquat Ali Khan? From India’s Finance Minister To Pakistan PM
8th Pay Commission: Will Pay Hike Automatically Take Effect From 1 Jan 2026?
How Much PF Money Can You Withdraw If You Lose Job? Is Your Pension Affected?
Budget Timeline
2025Presented by: Nirmala Sitharaman
Budget Year: 2025–26
In her eighth Budget, Nirmala Sitharaman offered full tax rebates on income up to Rs 12.75 lakh and reduced corporate tax rates. The Budget projected revenues of Rs 34.96 trillion and expenditure of Rs 50.65 trillion, focusing on growth and fiscal balance.
2021Presented by: Nirmala Sitharaman
Budget Year: 2021–22
India’s first paperless Budget, the 2021–22 presentation, announced major spending on healthcare and infrastructure as the country battled the COVID-19 pandemic.
2020Presented by: Nirmala Sitharaman
Budget Year: 2020–21
The 2020–21 Budget set a record for the longest Budget speech, lasting over 2 hours and 40 minutes. It introduced a new optional tax regime with lower rates but fewer exemptions, and focused on agriculture and infrastructure ahead of the COVID-19 crisis.
2019Presented by: Nirmala Sitharaman
Budget Year: 2019–20
In her first Budget as India’s first full-time woman Finance Minister, Nirmala Sitharaman focused on electric vehicles, startups, and women’s empowerment.
2016Presented by: Arun Jaitley
Budget Year: 2016–17
The 2016–17 Budget by Arun Jaitley ended a 92-year-old tradition by merging the Railway Budget with the Union Budget. It also laid the groundwork for GST, while focusing on rural development, infrastructure, startups, MGNREGA, and affordable housing.
2000Presented by: Yashwant Sinha
Budget Year: 2000–01
The “Millennium Budget” of 2000–01, presented by Yashwant Sinha, reduced customs duties on IT hardware and mobile phones, giving a major push to India’s growing technology sector.
1997Presented by: P. Chidambaram
Budget Year: 1997–98
Known as the “Dream Budget”, the 1997–98 Budget by P. Chidambaram slashed maximum income tax rates to 30 per cent for individuals and 35 per cent for companies, boosting tax compliance and economic growth.
1991Presented by: Manmohan Singh
Budget Year: 1991–92
The historic 1991–92 Budget, presented by Manmohan Singh, ushered in economic liberalisation at a time when India faced a severe balance-of-payments crisis, with foreign reserves barely sufficient for two weeks of imports.
1986Presented by: V.P. Singh
Budget Year: 1986–87
Dubbed the “Carrot and Stick Budget”, the 1986–87 Budget by V.P. Singh introduced MODVAT (Modified Value Added Tax) to simplify indirect taxes. Income tax rates were also reduced to encourage voluntary compliance.
1973Presented by: Yashwantrao Chavan
Budget Year: 1973–74
The 1973–74 Union Budget, known as the “Black Budget”, had a massive deficit of Rs 550 crore. Presented by Yashwantrao Chavan, it increased taxes on luxury goods and raised defence spending amid the global oil crisis.
1968Presented by: Morarji Desai
Budget Year: 1968–69
Presented on his birthday, the 1968–69 Budget by Morarji Desai introduced gold control measures to curb smuggling following currency devaluation. The Budget also supported the Green Revolution, with higher subsidies for fertilisers and irrigation.
1958Presented by: Jawaharlal Nehru
Budget Year: 1958–59
In a rare moment, Prime Minister Jawaharlal Nehru himself presented the 1958–59 Budget. It introduced the gift tax to widen the tax base, while granting exemptions to charitable institutions and public companies.
1956Presented by: T.T. Krishnamachari
Budget Year: 1956–57
The 1956–57 Union Budget, presented by T.T. Krishnamachari, reintroduced capital gains tax, which had earlier been scrapped. The move aimed to boost government revenue as welfare spending increased.
1950Presented by: John Mathai
Budget Year: 1950–51
In the 1950–51 Budget, John Mathai announced the setting up of the Planning Commission, laying the foundation for India’s Five-Year Plans. The focus was on long-term development through agriculture, irrigation, and industrial growth.
1949Presented by: John Mathai
Budget Year: 1949–50
The 1949–50 Union Budget, presented by John Mathai, marked a significant policy shift. The government abolished capital gains tax to encourage investment and economic activity. The Budget also addressed challenges like inflation and post-Independence reconstruction.
1947 Presented by: R.K. Shanmukham Chetty
First Budget of Independent India
India’s first Union Budget after Independence was presented on November 26, 1947, by R.K. Shanmukham Chetty, the country’s first Finance Minister. The Budget focused on handling the economic impact of Partition, including rehabilitation of refugees, food shortages, and revenue constraints faced by the newly formed nation.
Budget FAQs
On April 7, 1860 the first Union Budget in India was introduced by Scottish economist and politician James Wilson from the East India Company to the British Crown. The first budget of Independent India was unveiled on November 26, 1947 by Finance Minister RK Shanmukham Chetty.
Budget printing has undergone several changes over the years. Initially until 1950, the budget was printed at the Rashtrapati Bhavan. However, due to a leak, the printing location had to be relocated to a press at Minto Road in New Delhi. In 1980, a government press was established in the North Block, which serves as the finance ministry's headquarters.
During the Narasimha Rao government in 1991, Manmohan Singh set a record for delivering the lengthiest Budget speech in terms of word count comprising 18,650 words. In 2018, the second-longest speech in terms of word count was given by then Finance Minister Arun Jaitley, with a total of 18,604 words. Jaitley spoke for a duration of 1 hour and 49 minutes.
The shortest budget speech in India occurred in 1977 when Finance Minister Hirubhai Mulljibhai Patel delivered a speech lasting only 800 words.
The distinction of presenting the highest number of Budgets in India belongs to former Prime Minister Morarji Desai. During his tenure as the finance minister from 1962 to 1969, Desai delivered a total of 10 Budgets. This record surpasses other notable figures such as P Chidambaram (9), Pranab Mukherjee (8), Yashwant Sinha (8), and Manmohan Singh (6).
Before 1999, the Union Budget was traditionally presented at 5 pm on the last working day of February following a practice from the British era. The timing was later changed to 11 am by former Finance Minister Yashwant Sinha in 1999. In 2017, Arun Jaitley initiated the practice of presenting the Union Budget on February 1, departing from the colonial-era tradition of using the last working day of the month.
In 1971, Indira Gandhi, who served as both the Prime Minister and Finance Minister of India, became the pioneer as the first woman to present a Budget in the country. In 2019, Nirmala Sitharaman achieved the distinction of being the second woman to present the Budget. During that year, Sitharaman departed from the conventional budget briefcase, opting for a traditional 'bahi-khata' adorned with the National Emblem to carry the speech and accompanying documents.