India Union Budget 2026-27 - An Overview

Union Budget 2026 has laid a decisive path for long-term economic growth, aligned with the vision of ‘Viksit Bharat 2047’ (Developed India by 2047). This is reflected in the broad-based reforms proposed across diverse sectors.
 
The proposed policy measures and incentives for nuclear power, critical minerals and carbon capture and utilisation signal a strong push towards an energy-transition future. These announcements, combined with the tax holiday till 2047 for foreign cloud services companies, and allocation of INR 40,000 Cr. (~USD 4.36bn) in 'India Semiconductor Mission 2.0', underscore the Government’s focus on future-readiness and reduced import dependence. 
 
The strategic and frontier sectors for which the Government announced plans to scale up manufacturing include biopharma, chemicals, capital goods and textiles, with a view to making India a more competitive and self-reliant manufacturing hub.
 
On the tax front, the announcements include tax holidays, regulatory changes for transfer pricing, rationalisation of TDS and TCS, and a proposed scheme for voluntary disclosure of foreign assets. Individual taxpayers also see relief through lower TCS on overseas education and travel, and a more pragmatic approach to penalties.
 
Overall, Union Budget 2026 seeks to balance economic expansion with fiscal prudence.

Here’s our full analysis of the India Union Budget 2026-27

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