Budget 2026: – Finance Minister Nirmala Sitharaman will present the budget in Parliament on February 1st. This will be Sitharaman’s ninth consecutive budget presentation. This year’s budget is expected to see major changes in the customs duty system. After increasing the tax exemption limit to Rs 12 lakh last year, salaried individuals are now expecting relief in standard deduction and a reduction in GST rates. Finance Minister Nirmala Sitharaman presented her first budget in 2019.
Who has presented the most budgets?
With her ninth consecutive budget presentation, Nirmala Sitharaman is very close to the record of former Prime Minister Morarji Desai, who presented 10 budgets during his various tenures. Desai presented six budgets between 1959 and 1964 and four between 1967 and 1969. Former Finance Minister P. Chidambaram presented nine budgets, and Pranab Mukherjee presented eight.
When will the budget be presented?
Nirmala Sitharaman will present the Union Budget 2026 on February 1st (Sunday) at 11 AM. Since 2017, the budget presentation date has been fixed as February 1st. Earlier, the budget was presented on the last day of February, but the date was changed to facilitate timely approval from Parliament and implementation from April 1st. The time of the budget presentation was also changed in 1999. Earlier, the budget was presented at 5 PM, a tradition from the British era.
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Where can you watch the budget?
The live telecast of the Union Budget 2026 will be available from 11 AM on February 1st on Sansad TV, DD News, and the official website indiabudget.gov.in. Live streaming will also be available on the YouTube channels of Sansad TV and PIB.
Reduce Import Duty
The biggest demand is to reduce import duties on raw materials such as gold, silver, platinum, and colored gemstones. High duties increase costs, making Indian jewellery expensive abroad. If import duties are reduced, jewellery prices may decrease, and exports could also be boosted.
Simplify Customs Process
The industry is also demanding simplification of the customs process. Implementing digital documentation, risk-based inspections, and fast clearance will make doing business easier.
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