India Union Budget 2026

Foreword

This year's Union Budget arrives against a complex global backdrop and yet stays true to a familiar compass: reform with continuity. The regulatory announcements were largely on expected lines, given the current geopolitical scenario. The emphasis on fiscal consolidation with a continued capex push, MSME enablement, and services competitiveness, without jolting personal tax slabs, reflects stability over spectacle. The government's calibrated approach, maintaining stable deficit targets while sustaining growth-oriented expenditure, offers comfort to markets and investors and lays the foundation for long term economic resilience. A defining structural move is the rollout timeline for the Income Tax Act, 2025, effective April 1, 2026, with the promise of a simpler regime. That change underpins a trust based, compliance light tax administration for individuals and businesses alike.