Martyrs. Gandhi. Gandhi’s Punya Thithi.
Budget 2026-27. On Magh Purnima. 1 February. Ninth budget from Nirmala Sitaraman.
Three Kartavyas: accelerate and sustain economic growth, by enhancing productivity and competitiveness, and building resilience to volatile global dynamics; fulfil aspirations of our people and build their capacity, making them strong partners in India’s path to prosperity; and ensure that every family, community, region and sector has access to resources, amenities and opportunities for meaningful participation. A supportive ecosystem – for sustaining the momentum of structural reforms; robust and resilient financial sector; cutting-edge technologies, including AI. 350 reforms rolled out include: GST simplification, Labour Codes, rationalised mandatory Quality Control Orders.
Specific intervention areas proposed: Scaling up manufacturing in 7 strategic and frontier sectors; Rejuvenating legacy industrial sectors; Creating “Champion MSMEs”; Delivering a powerful push to Infrastructure; Ensuring long-term energy security and stability; Developing City Economic Regions. Biopharma SHAKTI; India Semiconductor Mission (ISM) 2.0; Increased outlay to Electronics Components Manufacturing Scheme; Rare Earth Corridors; Dedicated Chemical Parks; Hi-Tech Tool Rooms; Scheme for Enhancement of Construction and Infrastructure Equipment (CIE); Scheme for Container Manufacturing; Integrated Programme in Textiles (Natural, man-made, new-age fibres; Modernizing clusters; Handloom and handicrafts programme; Tex-Eco; Samarth 2.0; Mega Textile Parks); Mahatma Gandhi Gram Swaraj initiative to strengthen khadi, handloom and handicrafts; Sports goods; Reviving 200 legacy industrial clusters; Champion SMEs and supporting micro enterprises.
Dedicated Freight Corridors; 20 new National Waterways; Carbon Capture Utilization and Storage (CCUS); Tier II and III City Economic Regions; 7 High-Speed Rail corridors as ‘growth connectors’.
High Level Committee on Banking for Viksit Bharat; NBFCs for Viksit Bharat; Review of Foreign Exchange Management Rules; Framework for Corporate Bond Market; Municipal Bonds.
Emerging technologies, including AI – AI Mission, National Quantum Mission, Anusandhan National Research Fund, and Research, Development and Innovation Fund.
High-Powered ‘Education to Employment and Enterprise’ Standing Committee for 10% global share by 2047. Professionals for Viksit Bharat – Health; Caregivers for Care Ecosystem covering geriatric care; Hubs for Medical Value Tourism; All India Institutes of Ayurveda; Upgraded AYUSH pharmacies and Drug Testing Labs; Upgraded WHO Global Traditional Medicine Centre; More veterinary and para-vet colleges, veterinary hospitals, diagnostic laboratories and breeding facilities; In Orange Economy – Animation, Visual Effects, Gaming and Comics (AVGC) Content Creator Labs in 15,000 secondary schools and 500 colleges; New National Institute of Design in the eastern region; 5 University Townships; Girls’ hostel in every district; 4 Telescope Infrastructure facilities.
Tourism and Sports. National Institute of Hospitality; Upskilling 10,000 guides in collaboration with an IIM; National Destination Digital Knowledge Grid; Ecologically sustainable Mountain trails, Turtle trails, Bird watching trails; Global Big Cat Summit in India on collective strategies for conservation; 15 archaeological sites; Khelo India Mission.
Farmers. 500 reservoirs and Amrit Sarovars; Fishery value-chains with women groups and FPOs; enterprises of livestock, dairy, poultry, and related FPOs; high value crops – coconut, sandalwood, cocoa, cashew, agar trees, almonds, walnuts, pine nuts et al; A multi-lingual AI tool – Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources); Self-Help Entrepreneur (SHE) Marts.
Divyangjan. Divyangjan Kaushal Yojana; Divyang Sahara Yojana.
NIMHANS-2 in North India; Upgraded National Mental Health Institutes in Ranchi and Tezpur as Regional Apex Institutions; 50% increase in capacities in District Hospitals including establishing Emergency and Trauma Care Centres.
Integrated East Coast Industrial Corridor; 5 tourism destinations in Purvodaya States; 4,000 e-buses; Buddhist Circuits in North-east.
16th Finance Commission – 41% devolution to states, Rs. 1.4 lakh Crores Finance Commission Grants to Local Bodies and Disaster Management. Devolution to states is determined by income distance (42.5%), area (10%), Population 2011 (17.5%), Demographic performance (10%), Forest (10%), Contribution to GDP (10%). 55% debt-GDP ratio; 4.4% GDP as fiscal deficit. Budgeted expenditure to cross Rs.50 lakh crore this year – 53.47 lakh Crore. 17.72 on Central Sector schemes (100% by GoI); 9.90 on Centrally sponsored schemes (60% by GoI).
Big Scheme is VB GRAMG/MGNREGS with Rs.1.26 lakh Crore; followed by Awas Yojana – Rs.0.77 lakh Crore, Jal Jivan Mission, PM-KISAN, Samagra Shiksha, Health Mission, Anganwadi and Poshan, Interest subvention, Surya Ghar, Rozgar, Bharatnet, R&D. Key subsidies – food, Rs.2.28 lakh Crore, fertilizers, Rs.1.71 lakh Crore.
In terms of Ministries, Big spenders would be (Rs. Lakh Crore): Defence – 7.85; Roads – 3.10; Railways – 2.81; Home – 2.55; PDS et al – 2.40; RD – 1.97; Chemicals and Fertilizers – 1.77; Agri and Farmers’ Welfare – 1.41; Education – 1.39; Health – 1.07; Communication – 1.02; Jal Shakti – 0.95; Housing and Urban Affairs – 0.86
Income Tax Act, 2025 is coming into effect from April 2026. Rule-based automated lower or nil deduction certificate for small taxpayers. Cooperatives have to pay no tax on the profits from the sale of produce of the members. IT Services are going to have a common safe harbour margin of 15.5%, up to Rs.2000 Crore. Exemption to global (non-India sourced) income of a non-resident expert, for a stay period of 5 years under notified schemes. Exemption from Minimum Alternate Tax (MAT) to all non-residents who pay tax on presumptive basis. MAT is proposed to be made final tax. 10% Customs duty on all dutiable goods imported for personal use. Exemption of basic customs duty on 17 drugs or medicines.
Hope this budget takes us one step ahead into Amrt Kaal.
Can we believe what is put out in the narratives, in the brochures, in the stories, and in the media? Is the reality quite off these? Can’t reality catch up soon? If we continue the façade, away from reality, can the world see through this? And then, can we get down the tiger? Without deep hurt. Are we not lost in the long run?
In Aakaash, going up, coming down, and being there. Being in water – flowing; vast reservoirs; trickles; showers; rivers; and seas. Drinking water. In light, fire, sun, at sunrise, at sunset, and moon. In air, breeze. On earth, in soil. Inside, outside. Five senses, six senses, and all senses. Body, heart, mind, and soul. Can we give, give in? Can we be? Can we vision, take ways forward, taking the ladders, escaping the snakes, step-by-step, and minute-by-minute? Syncing senses, feelings, thoughts, words, and actions. Living, leading, learning, loving, and being.
Yes, we can. If we coexist, flowing. With five elements. In N? panchabhutayoga for 7L.