Saturday, March 07
Union finance minister Nirmala Sitharaman unveiled the government's Viksit Bharat vision for Non-Banking Financial Companies, setting clear targets for credit expansion and technology adoption. Key public sector NBFCs like Power Finance Corporation and Rural Electrification Corporation will be restructured to boost efficiency. This initiative, alongside a banking sector review, aims to strengthen India's financial system for sustained reform-led growth.
Stock market crash after Budget 2026: Investors reacted negatively to a hike in Securities Transaction Tax (STT) on futures and options (F&O) trades announced by FM Sitharaman.
India's space program receives a significant boost with a Rs 13,705.6 crore allocation for 2026-27, a jump driven by increased capital expenditure. This funding signals a strong push towards developing new launch vehicles, satellite infrastructure, and ambitious exploration missions, including those tied to the Gaganyaan roadmap.
Union Budget 2026 designates 'Information Technology Services' as a single category for IT companies, including software development, IT-enabled services, KPOs, and contract R&D. A uniform 15.5 per cent safe harbour margin will apply, with increased thresholds and automated approvals. A fast-track Unilateral APA process for IT services aims for conclusion within two years.
Nirmala Sitharaman delivered her ninth consecutive Union Budget speech, lasting 1 hour and 25 minutes, outlining the fiscal roadmap for 2026-27. This presentation marks her record-breaking six years and eight months as Finance Minister in continuous office. Prime Minister Modi hailed the event as a proud parliamentary tradition.
Latest Income Slabs FY 2026-2027 after Budget 2026: Taxpayers will continue to pay income tax as per the ongoing income tax slabs that are currency effective for FY 2025-2026. The income tax slabs under the new income tax regime underwent a major overhaul in last year’s Budget and hence this year the expectation was low of the FM bringing any changes.
