Budget Speech Updates: Sitharaman Announces New Income Tax Act, Some Import Duty Exemptions

The rupee is low, inequality is high, there is no trade deal with the US and a strong rural employment guarantee was replaced. What does the 2026 Budget have in store for us?

The Wire Staff

The rupee is low, inequality is high, there is no trade deal with the US and a strong rural employment guarantee was replaced. What does the 2026 Budget have in store for us?

budget speech updates sitharaman announces new income tax act some import duty exemptions

The Union Budget is being presented today – a Sunday – after a year in which the Modi government has enfeebled the world's biggest rural employment jobs guarantee. Many feel that this announcement will be the first test of whether the government is willing – or able – to back its claims of an alternative employment guarantee. Speaking of employment, India battles a remarkable lack of jobs and an over-reliance on the gig economy. All of this puts the focus on the frightening levels of inequality facing the country now. The rupee, meanwhile, is at its lowest – not just against the dollar but against several other currencies.

Will finance minister Nirmala Sitharaman's speech do justice to Indians? Follow our live blog here.

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This article went live on February first, two thousand twenty six, at thirty-three minutes past ten in the morning.

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