Union Budget 2026–27
Key Fiscal Parameters
The Finance Bill 2026 gives effect to the Budget proposals for FY 2026–27. The budget reflects FM Sitharaman's eighth consecutive budget — a record for any Finance Minister — and is oriented around fiscal consolidation, capital expenditure, and middle-class relief.
- Total expenditure: ₹53.47 lakh crore (7.7% increase over previous year).
- Capital expenditure: ₹12.2 lakh crore — the highest ever, continuing the government's infrastructure push.
- Gross Tax Revenue target: ₹44.04 lakh crore.
- Fiscal deficit target for FY 2026–27: 4.3% of GDP (down from ~4.8% in FY 2025–26).
- Gross borrowings: ₹17.2 lakh crore.
- New income tax slab structure provides zero tax for income up to ₹12 lakh (with rebate under Section 87A), significantly reducing the middle-class tax burden.
- The budget commits to a debt-to-GDP glide path targeting 50% (±1%) by March 31, 2031, with FRBM compliance.
● Tracked since February 19, 2026 · last seen March 25, 2026 · updates as the daily brief publishes
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