Finance Minister Nirmala Sitharaman will present the first full Union Budget of PM Narendra Modi’s third term today, marking her record 8th consecutive Budget. The Budget comes amid global uncertainties, including slowing economic growth, US President Donald Trump’s tariff threats, and AI advancements reshaping industries.
Tax relief for the middle class, including income tax cuts and a higher standard deduction, is widely expected. The Budget may also focus on infrastructure investment, financial inclusion for rural businesses, and boosting domestic manufacturing through tariff reforms.
With global AI competition intensifying, India may announce initiatives to accelerate AI development. Corporate tax relief is also likely, given US tax cuts under Trump.
Fiscal consolidation remains a priority, with a projected 4.5% fiscal deficit for FY26. The Budget will be keenly watched for its impact on economic growth, investments, and India’s long-term development goals. Sitharaman’s speech begins at 11 AM.
