Nirmala Sitharaman speech highlights: Budget gives big boost to manufacturing, semiconductors, rare earth

Nirmala Sitharaman speech LIVE: FM Sitharaman rejects Rahul Gandhi’s Budget criticism, says economy’s fundamentals strong

Nirmala Sitharaman speech highlights: Finance minister Nirmala Sitharaman on Sunday concluded her Budget 2026-27 speech in the Lok Sabha in nearly one-and-a-half hours long address, laying out the government’s economic roadmap anchored in growth, investment and fiscal stability. Key announcements included a sharp push to public capital expenditure at ₹12.2 lakh crore in 2026-27. The finance minister announced government's renewed outlook with a thrust on manufacturing, semiconductors and MSMEs.

The address also highlighted targeted initiatives in health, sports, tourism and women-led enterprises, all framed around the vision of building a Viksit Bharat by 2047. This marked her historic ninth consecutive Union Budget address in the Lok Sabha.

PM Modi says Budget strengthens India’s global role

Prime Minister Narendra Modi said the Union Budget 2026-27 will further enhance India’s position on the global stage.

"The 140 crore citizens of India are satisfied with not just being the fastest-growing economy, but we also want to be the third-largest global economy at the earliest. This is the resolve of crores of citizens of the country," he said.

PM Modi highlighted that India’s role as a trusted, democratic partner and a reliable quality supplier is expanding. He added that the benefits of recently signed trade agreements—the "Mother of All Deals"—should reach the country’s youth and small and medium enterprises, and said the Budget has taken major steps in this direction.

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Sitharaman’s pre-Budget routine

Finance minister Nirmala Sitharaman followed the customary pre-Budget protocol on Sunday. As per established tradition, she called on President Droupadi Murmu at Rashtrapati Bhavan before heading to Parliament.

Earlier in the day, Sitharaman posed for photographs with her Budget team outside her office at Kartavya Bhavan. Dressed in a magenta silk saree, she was seen carrying a tablet enclosed in a red pouch bearing the national emblem, alongside Minister of State for Finance Pankaj Chaudhary and the six secretaries of the finance ministry.

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After meeting the President, Sitharaman proceeded to a Cabinet meeting, where the Union Budget for 2026-27 received formal approval. She continues the tradition she introduced in 2019 by carrying the Budget speech in a ‘bahi-khata’ style pouch, replacing the earlier briefcase custom.

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What gets cheaper and what's costlier after Budget

In the Union Budget 2026-2027, Nirmala Sitharaman announced that products, including aircraft parts, microwave parts, essential drugs and some imported goods, are set to attract lower customs duty, thereby making them cheaper.

The reduced tariffs are set to make microwave ovens, EV Batteries, solar panels, and aircraft parts cheaper.

Luxury watches and imported alcohol are among the items that are set to be costlier. Sin goods, like cigarettes, 'beedis', pan masala, and gutka, will also get costlier.

Economic Survey 2025-26

Ahead of the Budget, Sitharaman tabled the Economic Survey of India for 2025-26 in Parliament on Thursday, following long-standing tradition.

Often described as the economy’s annual “report card”, the Survey explains the rationale behind upcoming fiscal decisions by analysing trends, challenges and growth drivers, while the Budget lays out future spending and taxation plans.

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Feb 1, 2026, 17:56:39 IST

Nirmala Sitharaman live updates: Defence budget hike introduced post Operation Sindoor

Nirmala Sitharaman live updates: India on Sunday set aside ₹7,84,678 crore as defence outlay for 2026-27 in a steep hike of 15% over last year's allocation of ₹6.81 lakh crore, with its military majorly focusing on boosting combat prowess.

The increase in the defence outlay came against the backdrop of “historic success of Operation Sindoor,” Defence Minister Rajnath Singh said.

Feb 1, 2026, 19:29:47 IST

Nirmala Sitharaman live updates: Union Budget allocation for Delhi remains unchanged

Nirmala Sitharaman live updates: The allocations for Delhi under the Union Budget for 2026-27, remain unchanged at ₹1,348 crore, the same amount as the previous year.

Chief Minister Rekha Gupta welcomed the budget, highlighting that it is a step toward realising Prime Minister Narendra Modi's vision of 'Viksit Bharat'.

Feb 1, 2026, 19:58:31 IST

Nirmala Sitharaman live updates: Sitharaman says India will spend record amount on infrastructure and defence

Nirmala Sitharaman live updates: India will spend a record amount on infrastructure and defence, the finance minister said in her national budget speech on Sunday, with plans for high-speed rail, submarines and fighter jets.

It plans to spend $133 billion on infrastructure and $85 billion on defence, a respective rise of around nine and 15 percent compared to last year's budget.

Feb 1, 2026, 20:33:28 IST

Nirmala Sitharaman live updates: Budget gives big boost to manufacturing ecosystem

Nirmala Sitharaman live updates: The Budget on Sunday sought to give a big boost to the country's manufacturing ecosystem by focusing on seven 'strategic and frontier sectors' including rare earth magnets, textiles, semiconductors, and containers.

Scaling up of manufacturing is one of the three 'Kartavya' announced by Finance Minister Nirmala Sitharaman in her ninth Budget speech to achieve the goal of "Viksit Bharat' by 2047.