Nirmala Sitharaman speech LIVE: Defence allocation rises to ₹7.8 lakh crore, cloud services and IT get major tax relief

Finance Minister Nirmala Sitharaman on Sunday concluded her nearly 90-minute Budget 2026–27 speech in the Lok Sabha, outlining the government’s economic roadmap centred on growth, investment and fiscal stability.

In her historic ninth consecutive Budget address, Sitharaman announced a strong push for public capital expenditure, pegging it at ₹12.2 lakh crore for 2026–27. The Budget also signalled renewed focus on manufacturing, semiconductors and micro, small and medium enterprises (MSMEs).

Her address highlighted targeted initiatives in health, sports, tourism and women-led enterprises, aligned with the government’s long-term vision of building a “Viksit Bharat” by 2047.

Pre-Budget Traditions Followed

Before presenting the Budget, Sitharaman met President Droupadi Murmu at Rashtrapati Bhavan, following long-standing protocol. She later attended a Cabinet meeting where the Budget received formal approval.

Earlier in the day, she posed for photographs with her team at Kartavya Bhavan, carrying the Budget documents in a red ‘bahi-khata’ style pouch—continuing a tradition she introduced in 2019.

Income Tax and Fiscal Management in Focus

Income tax measures remained among the most closely watched aspects of the speech, with taxpayers hoping for further relief, including a possible increase in standard deduction.

The Budget also emphasised fiscal discipline, legal financial proposals and medium-term economic planning.

Finance Bill and Key Statements

As per the Lok Sabha agenda, Sitharaman presented the statement of estimated receipts and expenditure for 2026–27. She also tabled two mandatory documents under the FRBM Act:

• Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement

• Macro-economic Framework Statement

She sought permission to introduce the Finance Bill, 2026, which gives legal backing to the Budget’s taxation and financial proposals.

Economic Survey Tabled Earlier

Ahead of the Budget, Sitharaman had presented the Economic Survey 2025–26, which analysed economic trends, challenges and growth drivers. The Survey serves as the foundation for the fiscal decisions outlined in the Budget.

PM Modi’s Praise

Prime Minister Narendra Modi praised Sitharaman for presenting her ninth consecutive Budget, calling it a matter of pride in India’s parliamentary history.

Having taken charge in May 2019, she has now completed over six years and eight months in office, making her the longest-serving finance minister in continuous tenure.

Market and Broadcast Details

The Budget speech began at 11 am and was broadcast live on Sansad TV, Doordarshan, and official online platforms, including the India Budget Portal and PIB’s YouTube channels.

To coincide with the Budget, Indian stock markets remained open on Sunday, February 1, 2026, with a special trading session.

Overall, Budget 2026–27 underscored the government’s focus on infrastructure-led growth, manufacturing expansion and fiscal stability, while reinforcing long-term development goals.