NV101 Desk
New Delhi,01Feb: Presenting the Union Budget 2026, Finance Minister Nirmala Sitharaman announced a wide-ranging set of reforms across banking, infrastructure, healthcare, fisheries, taxation, and manufacturing.
Banking & Financial Reforms
High-Level Committee on Banking for Viksit Bharat:
A high-powered committee will be constituted to undertake a comprehensive review of the banking sector to align it with India’s long-term development goals.Foreign Exchange Management Framework Review:
The government will review the existing foreign exchange management framework to modernise regulations and improve ease of doing business.Foreign Investors in Equities:
Individuals resident outside India can now invest directly in Indian stocks through the Portfolio Investment Scheme.Individual limit raised from 5% to 10%
Aggregate cap increased from 10% to 24%
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TDS Simplified for NRI Property Deals:
Resident buyers will no longer need a TAN to deduct TDS on property purchases from NRIs; a PAN-based challan will suffice.
Healthcare, Education & Employment
Allied Health Professionals (AHPs):
Existing institutions will be upgraded and new AHP institutes will be set up in both government and private sectors.Geriatric & Allied Care Ecosystem:
A strong care system covering geriatric and allied health sectors will be developed.Education-to-Employment Standing Committee:
A high-level committee will be set up to identify growth opportunities in the services sector and assess the impact of new technologies, including AI.20,000 Veterinary Professionals:
A loan-linked capital subsidy scheme will help train and deploy over 20,000 vets, supporting private veterinary colleges, hospitals, diagnostic labs, and breeding facilities.
Infrastructure & Connectivity
Seven High-Speed Rail Corridors:
The government will develop seven high-speed rail corridors as growth connectors, including:Mumbai–Pune
Hyderabad–Pune
Hyderabad–Bengaluru
Chennai–Bengaluru
Delhi–Varanasi
Varanasi–Siliguri
20 New National Waterways in 5 Years:
Operationalisation of 20 new waterways
Regional institutes of excellence for waterways training
Ship repair ecosystems in Varanasi and Patna
Coastal cargo scheme to boost inland and coastal shipping
Support for seaplane manufacturing to improve last-mile and remote connectivity
Fisheries & Rural Economy
500 Water Bodies for Fisheries:
Integrated development of 500 reservoirs and Amrit Sarovars to strengthen fisheries and coastal value chains.
Market linkages will be enabled through startups, women-led groups, and Fish Farmer Producer Organisations (FPOs).
Manufacturing, Aviation & Defence
Customs Duty Exemptions:
Basic customs duty exemption on raw materials and components for aircraft manufacturing, maintenance, repair, and defence-related units
Incentives for indigenisation of seaplane manufacturing
Subsidies for seaplane operations
Cancer Drug Relief:
Basic customs duty exemption announced on 17 essential cancer drugs and medicines to reduce treatment costs for patients.
Budget speech is ongoing. More announcements and updates to follow.
