Parliament clears Finance Bill 2026, concluding budget process

Lok Sabha passed the Bill on March 25 with 32 amendments; Rajya Sabha returned it after a brief debate, with FM replying to members’ queries

Parliament on Friday approved the Finance Bill 2026 with the Rajya Sabha returning it to the Lok Sabha with a voice vote, completing the budgetary exercise for the next fiscal starting April 1.

Rajya Sabha proceedings are underway during the Budget Session of the Parliament, in New Delhi. (Sansad TV)

The Lok Sabha had passed the bill on March 25, along with 32 amendments.

The Rajya Sabha returned the bill after a brief discussion, and finance minister Nirmala Sitharaman replied to queries raised by members.

The Union Budget 2026-27 envisages a total expenditure of ₹53.47 lakh crore, an increase of 7.7 per cent over the current fiscal ending March 31.

The total capital expenditure proposed for the next fiscal is ₹12.2 lakh crore.

It proposes a gross tax revenue collection of ₹44.04 lakh crore and a gross borrowing of ₹17.2 lakh crore.

The fiscal deficit for FY27 is projected at 4.3 per cent of GDP, lower than 4.4 per cent in the current fiscal.