India, Feb. 1 -- The Government of India has issued a release: A range of proposals on Direct Taxes to ensure 'Ease of living' for taxpayers have been announced by Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman during the Union Budget 2026-27 speech in Parliament today. Ease of Living The Budget proposes that any interest awarded by the Motor Accident Claims Tribunal to a natural person will be exempt from Income Tax, and any TDS on this account will be done away wit...
India, Feb. 1 -- The Government of India has issued a release: The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, presented the Union Budget 2026-27 in Parliament today. The Union Budget proposes to set up a High-Powered 'Education to Employment and Enterprise' Standing Committee to recommend measures that focus on the Services Sector as a core driver of Viksit Bharat. This will make India a global leader in services, with a 10% global share by 2047. The Committee wi...
India, Feb. 1 -- The Government of India has issued a release: In the Union Budget, tabled today in the Lok Sabha for the year 2026-2027, proposed the highest ever total annual budgetary support of Rs.2,761.80 crore for the fisheries sector. Out of the total allocation, Rs.2,530 crore has been earmarked for scheme-based interventions, ensuring direct support to fishers and fish farmers. Pradhan Mantri Matsya Sampada Yojana (PMMSY) continues to be the central pillar of fisheries development, wit...
India, Feb. 1 -- The Government of India has issued a release: Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal said the Union Budget has provided a powerful thrust to India's economic transformation by accelerating the Reform Express, strengthening the foundations of growth and 'positioning the maritime sector as the anchor in achieving the vision of Viksit Bharat'. The Union Minister said the Budget reflects the government's commitment to the three Kartavyas - accelerating a...
India, Feb. 1 -- The Government of India has issued a release: Recognising the need to enable critical infrastructure and boost investment in data centres,the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman,while presenting the Union Budget 2026-27 in Parliament today, proposed to provide tax holiday till 2047 to any foreign company that provides cloud services to customers globally by using data centre services from India. It will, however, need to provide services to...
India, Feb. 1 -- The Government of India has issued a release: Prime Minister Shri Narendra Modi shared his remarks on Union Budget 2026 via video message today. Speaking on the occasion, Prime Minister remarked that today's budget is historic and reflects the empowered spirit of the nation's women. He highlighted that Union Finance Minister Smt Nirmala Sitharaman, as a woman finance minister, has set a new record by presenting the country's budget for the ninth consecutive time. The Prime Mini...
India, Feb. 1 -- The Government of India has issued a release: The Prime Minister, Shri Narendra Modi has greeted everyone on the occasion of sacred Thai Poosam. "May the blessings of Lord Murugan always remain upon us. May everybody be blessed with good health, success and prosperity", Shri Modi stated. Shri Modi posted on X: "Vetrivel Muruganuku Arogara! On this sacred Thai Poosam, my greetings to everyone. May the blessings of Lord Murugan always remain upon us. May everybody be blessed w...
India, Feb. 1 -- The Government of India has issued a release: Indian Railways is set to expand at a rapid pace. Backed by the substantial allocation of Rs. 2,78,000 crore in the Union Budget this year, Railways is focusing its spending on high-speed connectivity, freight and safety. A record capital expenditure of Rs.2,93,030 crore has been planned for Indian Railways in Union Budget 2026-27. This is the highest-ever capex as well as allocation for Indian Railways. The allocation underscores...
India, Feb. 1 -- The Government of India has issued a release: The Government has accepted the recommendation of the 16th Finance Commission to retain the vertical share of devolution at 41 percent. Presenting the Union Budget 2026-27 in Parliament today, Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman said, "The Government has accepted the recommendation of the Commission to retain the vertical share of devolution at 41 percent. As recommended by the Commission, I have ...
India, Feb. 1 -- The Government of India has issued a release: Union Minister for Rural Development, and Agriculture&Farmers' Welfare, Shri Shivraj Singh Chouhantodaydescribed the Union Budget 2026-27 as "historic" and "unprecedented", saying that it lays a strong foundation for a developed and self-reliant India under the leadership of Prime Minister Shri Narendra Modi. Shri Chouhan said the Budget has been presented for the 12th time under Prime Minister Modi's leadership and that Smt. Nirmal...