Finance Minister targets record growth through massive GST and Labour reforms.
Finance Minister Nirmala Sitharaman arrived at Parliament today to lead a crucial Cabinet meeting before unveiling the Union Budget 2026-27. This presentation marks a historic milestone as Sitharaman delivers her ninth consecutive budget speech in the Lok Sabha. Under the leadership of Prime Minister Narendra Modi, the Union Cabinet is set to formally approve the financial roadmap for the upcoming year.
The Lok Sabha session begins at 11 am, where the Finance Minister will detail the government’s estimated receipts and spending. Beyond the standard figures, she will also present key documents regarding the Fiscal Responsibility and Budget Management (FRBM) Act. These include the Macro-Economic Framework and the Medium-term Fiscal Policy strategies, which provide a bird's-eye view of India's financial health.
Experts anticipate a massive Rs 54.1 lakh crore budget, reflecting nearly 8 per cent growth compared to last year. This budget is particularly significant as it is the first to follow the "GST 2.0" overhaul and the implementation of new Labour Codes. The consolidated labour laws now offer social security to gig workers and unorganized laborers, while the new two-tier GST structure aims to lower the cost of living by slashing rates on essential items.
Following recent 50 per cent tariffs imposed by the United States on Indian goods, the Union Budget 2026-27 is expected to prioritize export incentives to protect domestic industries. This session is scheduled to run for 65 days with 30 sittings, concluding on April 2. After today's speech, the Finance Minister will introduce the Finance Bill 2026 to give these proposals legal standing.
With Agency Inputs
