Budget 2026-27 political reactions, economy, nirmala sitharaman, business, economy

Finance Minister Nirmala Sitharaman presents the ‘Union Budget 2026-27’ in the Lok Sabha, in New Delhi, Sunday, Feb. 1, 2026. Photo credit: Sansad TV via PTI Photo
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Government on the recommendation of the constitutionally-appointed 16th Finance Commission, has decided to retain ‍the share of States in a common pool of taxes at 41% for the 2026-31 period, Union Finance Minister Nirmala Sitharaman ‌said on Sunday (February 1, 2026)

Union Finance Minister Nirmala Sitharaman presented the 2026-27 budget in the Parliament. This is the ninth straight Budget presented by Ms. Sitharaman, and also the first Budget presented on a Sunday in the history of Independent India.

Centre’s fiscal deficit touches 54.5% of full year target at end-December: Government data

The Economic Survey 2025-26 has given a relatively promising view of India’s domestic growth outlook, raising the country’s medium-term outlook to 7% from its earlier estimate of 6.5%. The Survey, authored by Chief Economic Advisor V. Anantha Nageswaran, tabled in Parliament by Ms. Sitharaman, went on to say that each of its three probabilistic scenarios for the globe could pose risks to India. For the current financial year 2025-26, the Survey highlighted the government’s estimate of 7.4% growth, adding that its ‘nowcast’ estimate for growth in Q3 (October-December 2025) stood at 7%. For 2026-27, the Survey estimates a growth rate range of 6.8-7.2%.

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