Customs Duty Waiver Boosts Defence Aircraft MRO Capabilities
Union Finance Minister Nirmala Sitharaman proposed exempting basic customs duty on raw materials imported for manufacturing aircraft parts used in defence sector maintenance, repair, and overhaul (MRO) during her Union Budget 2026 presentation. Strengthening Domestic Defence MRO Ecosystem The exemption covers specialized alloys, composites, and components essential for fighter jets,
Customs Duty Exemption for Critical Minerals Processing
Union Finance Minister Nirmala Sitharaman proposed basic customs duty exemption on capital goods imports required for critical minerals processing during her Lok Sabha presentation. This targeted measure accelerates domestic value addition in strategic minerals essential for defense, electronics, and clean energy sectors. Strengthening Downstream Mineral Capabilities The exemption covers processing
Customs Duty Exemption Extended for Nuclear Power Till 2035
Finance Minister Nirmala Sitharaman proposed extending basic customs duty exemption on imports for nuclear power projects until 2035, expanding coverage to all nuclear plants regardless of capacity. This strategic measure accelerates clean energy capacity addition and supports India’s energy security goals. Comprehensive Nuclear Ecosystem Support The exemption covers critical equipment,
Duty-Free Import Limits Expanded for Seafood and Footwear Exports
Finance Minister Nirmala Sitharaman proposed significant duty relief for export-oriented seafood and footwear sectors during her Union Budget 2026 presentation. These measures enhance cost competitiveness and boost foreign exchange earnings from labor-intensive industries. Seafood Export Processing Boost The duty-free import limit for specified inputs used in seafood processing for exports
Income Tax Act 2025 Implementation from April 1, 2026: Simplified Compliance Era Begins
Finance Minister Nirmala Sitharaman announced that the Income Tax Act, 2025 will come into effect from April 1, 2026, with simplified rules and redesigned tax return forms to be notified shortly. The new direct tax code, completed in record time, slashes the legislation’s text and sections by approximately 50% compared
Odisha, Kerala, Andhra, Tamil Nadu Get Dedicated Rare Earth Corridors
Finance Minister Nirmala Sitharaman proposed establishing dedicated rare earth corridors in Odisha, Andhra Pradesh, Tamil Nadu, and Kerala during her Union Budget 2026-27 presentation. This initiative supports mining, processing, research, and manufacturing of rare earth elements and permanent magnets in mineral-rich states. Reducing Critical Mineral Import Dependence Rare earth minerals—17
Fiscal Discipline Targets 4.3% Deficit with ₹1.4 Lakh Cr State Devolution
Finance Minister Nirmala Sitharaman projected the fiscal deficit for FY 2026–27 at 4.3% of GDP, marginally lower than the 4.4% estimated for the current year, demonstrating sustained fiscal prudence during her Union Budget presentation. Robust Revenue and Expenditure Framework Net tax receipts are estimated at ₹28.7 lakh crore, supporting ₹1.4
Massive Infrastructure Push for Tier II/III Growth Centres
Finance Minister Nirmala Sitharaman announced transformative infrastructure initiatives in Union Budget 2026, prioritizing future-ready development in Tier II and Tier III cities with populations above 5 lakh. Public capex surges to ₹12.2 lakh crore for FY 2026–27, sustaining momentum from ₹11.2 lakh crore. Financial Innovation for Asset Recycling Dedicated REITs
1,000 Clinical Trial Sites and Agri Innovation Boost
Finance Minister Nirmala Sitharaman announced the establishment of over 1,000 accredited clinical trial sites across India during her Union Budget 2026 presentation, expanding beyond metro hubs like Mumbai, Delhi, Bengaluru, Chennai, and Hyderabad. Nationwide Clinical Research Expansion This network decentralizes advanced medical research, accelerating drug trials, biotech validation, and therapy
₹20,000 Crore Carbon Capture Push for Net-Zero Goals
Union Finance Minister Nirmala Sitharaman proposed a substantial ₹20,000 crore outlay over five years to accelerate Carbon Capture, Utilization, and Storage (CCUS) technologies in her Union Budget 2026 presentation. This strategic funding scales up projects across key sectors, enhancing technology readiness for widespread industrial applications. Sectoral Decarbonization Focus CCUS deployment
