<h1>Union Budget 2026-27 advances growth, infrastructure and tax reform including a new Income Tax Act and sector incentives.</h1> Budget 2026-27 sets fiscal estimates with a 4.3% BE fiscal deficit and increased public capital expenditure, establishes industrial and infrastructure interventions including Biopharma SHAKTI, ISM 2.0, expanded electronics and textile schemes, an SME Growth Fund, and City Economic Region financing; and implements tax and administrative reforms including a New Income Tax Act from April 2026, TCS/TDS rationalisation, reassessment and prosecution rationalisation, IT sector safe harbour and incentives for non resident data and cloud services, and conversion of MAT into a final tax.