Union Budget 2026 Updates: Finance Minister Nirmala Sitharaman is presenting the 9th Union Budget in Parliament today, February 1st. Parliament proceedings have begun. Finance Minister Nirmala Sitharaman has started her budget speech. She is presenting the budget for the ninth consecutive time today, February 1, 2026. Finance Minister Nirmala Sitharaman began her budget presentation by mentioning Saint Ravidas. During her budget speech, Minister Sitharaman said that they want to nurture entrepreneurs like champions.
They are allocating ₹10,000 crore for this purpose to benefit entrepreneurs. The Finance Minister also stated that their focus will be on the biopharma sector. They are allocating ₹10,000 crore for this. The Finance Minister stated that the India Semiconductor Mission 1.0 has expanded the country’s semiconductor capabilities. Based on this, the government will now launch ISM 2.0, under which the production of equipment and materials, the development of full-stack Indian IP, and the strengthening of the supply chain will be undertaken. The Finance Minister announced that 22 new waterways will be created in the country. Finance Minister Nirmala Sitharaman stated that cancer and diabetes medicines will become cheaper in the country.
Committee formed for Banking
Finance Minister Nirmala Sitharaman announced that a committee will be formed to address banking in the country for financial stability. We want to work at the highest level to protect customers.
Mining Corridor Announced
The Finance Minister announced that a mining corridor will be built in Odisha, Kerala, and Chhattisgarh.
National Fibre Scheme Announced
Finance Minister Nirmala Sitharaman announced the National Fibre Scheme for silk, jute, and wool.
Major Announcements for West Bengal
The Government of India has proposed a new dedicated freight corridor from Dankuni in the East to Surat in the West. Plans have been made to operationalise 20 new national waterways over the next five years, promoting environmentally friendly cargo movement. 250 Million People Lifted Out of Poverty
Finance Minister Nirmala Sitharaman stated that we have lifted 250 million people out of poverty in the last 10 years. Our government has decided to focus on the service sector. From education to employment, we will encourage the establishment of enterprises.
Announcement of 7 High-Speed Rail Corridors
Union Finance Minister Nirmala Sitharaman announced that seven high-speed rail corridors, including Delhi-Varanasi, have been announced. Ship repair facilities will be established in Varanasi and Patna. High-speed rail corridors will also be built between Delhi and Varanasi and between Varanasi and Siliguri.
Announcement of 5 Regional Medical Hubs
The government has announced that five regional medical hubs will be established. Work will be done on medical training and research. Medical facilities will be made easily accessible. These hubs will create diverse employment opportunities.