Customs and central excise: budget proposes tariff simplification, targeted duty exemptions, and SEZ-to-DTA concessional sales.
The Budget proposes tariff simplification by removing certain long-standing exemptions and embedding effective rates in the tariff schedule; raises duty free import limits for specified seafood inputs to 3% of prior year FOB and extends duty free input treatment to Shoe Uppers; lengthens export timelines for leather, textiles and footwear to one year. It grants targeted BCD exemptions for Lithium Ion cell manufacturing and storage systems, sodium antimonate for solar glass, nuclear project goods to 2035 for all capacities, capital goods for critical minerals processing, aircraft components and defence MRO inputs, and specified microwave oven parts; excludes biogas value from excise on biogas blended CNG. A one time concessional DTA sale mechanism for eligible SEZ manufacturers is also proposed.

Union Budget 2026-27 promotes manufacturing in biopharma, semiconductors, textiles and container production with targeted schemes.
The Budget proposes Biopharma SHAKTI (Rs.10,000 crore over five years) to build domestic biologics capacity, expand NIPERs, create 1,000+ accredited clinical trial sites, and strengthen the national regulator; launches India Semiconductor Mission 2.0 and raises the Electronics Components Manufacturing Scheme outlay to Rs.40,000 crore; and establishes state supported Rare Earth Corridors, three challenge mode Chemical Parks, a Rs.10,000 crore Container Manufacturing scheme, and an Integrated Textile Programme with five components including Mega Textile Parks and skilling upgrades.

Union Budget 2026/27 criticised as lacklustre, non-transparent and offering little for farmers, youth and workers.
Congress characterised the Union Budget 2026/27 as totally lacklustre and non-transparent, alleging it provides no substantive allocations or measures for farmers, unemployed youth, labour, social sectors, marginalised groups and Opposition-ruled states, and favors big corporates; meanwhile the Finance Minister raised capital expenditure to Rs 12.2 lakh crore for FY27 and announced infrastructure measures for tier 2 and tier 3 cities against a backdrop of global economic uncertainty.

Union Budget prioritises infrastructure as central to development, emphasizing connectivity, manufacturing, regional balance and MSME support.
Union Budget 2026-27 makes infrastructure the focal policy instrument to advance connectivity, manufacturing depth and regional balance, presenting infrastructure as an enabler of resilience and global competitiveness while outlining complementary support for farmers, youth and MSMEs to drive inclusive growth, innovation and capital investment.

Union Budget allocates Rs 1,102 crore for ministerial expenses, PMO, Cabinet Secretariat, and hospitality of state guests.
Union Budget 2026-27 allocates Rs 1,102 crore for ministerial and executive branch expenditures, including Rs 620 crore for Council of Ministers salaries, allowances, travel and Special Extra Session Flight Operations; Rs 73.52 crore for the Prime Minister's Office; Rs 80 crore for the Cabinet Secretariat (including NACWC); Rs 256.19 crore for the National Security Council Secretariat; up to Rs 65 crore for the Office of the Principal Scientific Advisor; Rs 5.76 crore for state hospitality; and Rs 1.53 crore for secretariat assistance to former governors.

Cooperative societies gain deductions for cattle feed and cotton seed supplies and dividend relief when distributed to members.
Primary cooperative societies may now deduct profit and gains on supplies of cattle feed and cotton seed produced by their members. Inter cooperative dividend income will be deductible under the new tax regime to the extent it is further distributed to members, and a three year exemption applies to dividends received by a notified national cooperative federation on specified investments, provided those dividends are further distributed to member cooperatives. Cooperative tax slab rates remain unchanged.

Rare earth corridors to promote mining, processing and manufacturing for leadership in rare earth magnets.
The Union budget proposes establishment of Rare Earth Corridors in Tamil Nadu, Kerala, Andhra Pradesh and Odisha to promote mining, processing, research and manufacturing for rare earths and to strengthen India's position in rare earth magnets and critical minerals, developing the domestic value chain from extraction through processing to manufacturing.

East Coast Industrial Corridor proposed with Durgapur node, five Purvodaya tourism destinations and Buddhist circuits scheme.
The Budget proposes an East Coast Industrial Corridor with a well connected node at Durgapur and provision of 4,000 e buses as part of Purvodaya regional development; it also announces a scheme to develop Buddhist circuits in six northeastern states covering preservation of temples and monasteries, pilgrimage interpretation centres, and pilgrim amenities, and creation of five tourism destinations in Purvodaya states.

Union Budget 2026-27 advances sustainable growth, capacity building and inclusive development through targeted manufacturing, services and regional measures.
Union Budget 2026-27 sets a threefold framework of sustainable economic growth, capacity building, and inclusive development. It articulates six growth pillars-scaling strategic manufacturing, rejuvenating legacy industries, promoting Champion MSMEs, expanding infrastructure, ensuring energy security, and developing City Economic Regions-while stressing continued structural reforms, financial-sector resilience and technology adoption. A High-Powered "Education to Employment and Enterprise" Standing Committee will align services-sector growth, employment and skills policy. Targeted measures will raise farmer incomes, empower Divyangjan, expand mental-health access, and accelerate development in Purvodaya States and the North-East.

Union Budget 2026-27 advances growth, infrastructure and tax reform including a new Income Tax Act and sector incentives.
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.

Union Budget 2026-27 introduces tax reforms, customs duty cuts and incentives to boost manufacturing, services and investment.
The Budget implements the New Income Tax Act, 2025 from April 2026 with simplified rules and forms; introduces reduced TCS rates, extended TDS coverage for manpower services with streamlined lower rates and automated lower/nil deduction certificates; integrates assessment and penalty proceedings with reduced pre-payment and expanded immunity from penalty/prosecution subject to payment of tax and interest; rationalises MAT into a final tax with reduced rate and limited set-off; and introduces customs duty exemptions, tariff cuts for personal imports, and warehousing and digital trade facilitation measures to support manufacturing, exports and investment.

Biopharma SHAKTI proposes Rs 10,000 crore to build biologics manufacturing, clinical trial sites, and strengthen drug regulation.
The Budget proposes Biopharma SHAKTI with Rs 10,000 crore over five years to build domestic biologics and biosimilars manufacturing capacity, expand NIPER education infrastructure, create 1,000 accredited clinical trial sites, and strengthen the Central Drugs Standard Control Organisation with a scientific review cadre to meet global approval timeframes; it also exempts basic customs duty on 17 drugs and extends import duty exemptions for personal imports related to seven additional rare diseases.

TCS rates cut to 2% for education and medical LRS remittances and select goods and tour package sales.
Under the Liberalised Remittance Scheme, remittances exceeding Rs 10 lakh for education or medical treatment will attract TCS at two per cent (down from five per cent), while non-education/medical remittances remain subject to a higher TCS rate. Separately, TCS on overseas tour programme packages is fixed at two per cent without an amount threshold; TCS on tendu leaves is reduced to two per cent; and TCS for sellers of alcoholic liquor, scrap and minerals is rationalised to two per cent.

Allied health professionals to receive training across 10 disciplines, adding 1 lakh over five years and expanded caregiver training.
The government will train 1 lakh allied health professionals over five years across ten disciplines by upgrading existing institutions and establishing new public and private AHP institutions; programmes will be NSQF-aligned to develop multi-skilled caregivers combining core care, wellness, yoga and operation of medical assistive devices, and the plan includes training 1.5 lakh caregivers in the coming year.

Budget 2026-27 introduces tax reform, manufacturing incentives, infrastructure financing and customs simplification to boost growth.
Budget 2026-27 advances a growth-centred agenda combining targeted manufacturing incentives, expanded infrastructure financing and City Economic Regions, and comprehensive tax reform: a new Income Tax Act (2025) effective 1 April 2026; taxpayer ease measures including TCS/TDS rationalisation and a one-time foreign assets disclosure scheme with defined immunity; rationalisation of penalties and decriminalisation of minor defaults; conversion of MAT into a final reduced-rate tax with transitional set-off; incentives for data centres, toll manufacturing and IT services; and customs/GST simplification with trust-based customs processes and tariff rationalisation to support domestic production and exports.

Union Budget called balanced and non-populist; FINER highlights MSME support, infrastructure and tourism boosts for northeast.
The Union Budget is described as balanced, non-populist and fiscal-disciplined in light of geopolitical risks, with operational emphasis on MSME support, infrastructure for tier 3 and tier 4 cities, a Buddhist circuit to boost tourism, and increased sectoral allocations; FINER will review the fine print and raise deficiencies with ministers and regional MPs.

Container manufacturing scheme with Rs 10,000 crore outlay and inland waterways boost to grow domestic freight and skills.
A Container Manufacturing Scheme with Rs 10,000 crore over five years will build a domestic container manufacturing ecosystem and promote sustainable cargo movement, alongside a CIE enhancement scheme for high value equipment. The measures include a new Dedicated Freight Corridor (Dankuni-Surat), operationalisation of 20 National Waterways beginning with NW 5 linking Odisha industrial and mineral areas to Paradeep and Dhamra, a Coastal Cargo Promotion Scheme to raise waterways/coastal share from 6% to 12% by 2047, ship repair ecosystems in Varanasi and Patna, and Regional Centres of Excellence for training.

Budget allocations: Lokpal receives Rs 30 crore; CVC receives Rs 54.56 crore for 2026-27 for establishment costs.
The Union Budget 2026-27 allocates Rs 30 crore to the Lokpal for establishment and construction-related expenditures, noting a revised outlay of Rs 32 crore for the current year and a prior provision of Rs 44.32 crore; it also provides Rs 54.56 crore to the CVC for secretariat expenditure, against earlier provisions and revisions for FY26.

Budget expands veterinary training and develops 500 water bodies to boost fisheries, livestock entrepreneurship and rural incomes.
Budget 2026 proposes a loan-linked capital subsidy scheme to expand veterinary capacity by over 20,000 and to fund private veterinary colleges, hospitals, diagnostic labs and breeding facilities, alongside a credit-linked subsidy to promote animal husbandry entrepreneurship and integrated livestock value chains; it also mandates integrated development of 500 reservoirs and Amrit Sarovars for fisheries and targeted promotion programmes for coconut, cashew, cocoa, sandalwood and hill-region orchard rejuvenation.

Budget proposes higher Securities Transaction Tax on commodity futures and treating buyback proceeds as capital gains.
The Budget proposes raising the Securities Transaction Tax on commodity futures from 0.02% to 0.05%, increasing derivative trading costs and likely dampening foreign portfolio investor flows, especially among high-frequency and derivative-focused funds. It also proposes that buyback proceeds be taxed as capital gains for all shareholders, altering the tax treatment of share repurchases and affecting shareholder after-tax returns.