US EditionIndia’s budget boosts infrastructure spending while vowing fiscal discipline
The Budget raises capital expenditure to ₹12.2 lakh crore and launches initiatives in electronics, semiconductors, and green energy to support jobs and investment, says Finance Minister Sitharaman.
- Finance Minister Nirmala Sitharaman presented the Union Budget for FY 2026-27, raising public capital expenditure to Rs 12.2 lakh crore to promote infrastructure in India.
- The budget includes a customs duty exemption for 17 cancer treatment drugs, aimed at making these treatments more affordable for patients.
- The budget confirmed no changes to income tax slabs and introduced a foreign asset disclosure scheme for small taxpayers, providing immunity from prosecution.
- Higher taxes will affect luxury goods, while the Securities Transaction Tax on Futures and Options trading was raised, intending to rectify capital market revenue.
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India has potential to be a leader in bio-medicine: ICMR DG Rajiv Bahl hails union budget
Apart from the increased allocation, the central drug regulator has been strenghtened, a plan for building over 1,000 medical trial sites has been announced, and cancer medicines have been exempted from custom duties.
Focus on Long-term Growth: Industry Hails Capex Push and Fiscal Discipline in Budget 2026
Get latest articles and stories on Business at LatestLY. The industry has reacted with notable optimism, particularly regarding the scale of public spending. Amisha Vora, Chairperson & Managing Director of PL Capital - Prabhudas Lilladher, highlighted that the 24 Per cent rise in government capex is "huge" and noted the strategic importance of the 21 per cent hike in defence spending. She further observed that the new tax exemptions for foreign …
India budget ‘tactical’, not ‘breakthrough’, Moody’s Ratings says
By Ashwin Manikandan MUMBAI, Feb 1 (Reuters) – India’s annual federal budget was “tactical” but not a “breakthrough”, Moody’s Ratings said in its reaction to a government roadmap for the next financial year. Planned fiscal consolidation, which will bring the budget gap to 4.3% from 4.4% in the current year, will not change India’s credit profile, Christian de Guzman, senior vice president at Moody’s Ratings, told Reuters. “(Despite India’s) l…
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