Budget 2026: FM Nirmala Sitharaman Set to Table 9th Union Budget on Feb 1; Key Hopes for Salaried Taxpayers, GST and Customs Reforms
All eyes are on Budget 2026 as Finance Minister Nirmala Sitharaman prepares to present her ninth consecutive Union Budget in Parliament on February 1. With inflation concerns, slowing consumption and global uncertainties, expectations are high - especially among the salaried class, businesses and exporters. From possible GST rate cuts to customs duty reforms , this year’s budget could set the tone for India’s economic roadmap ahead.
The presentation time was shifted from 5 PM to 11 AM in 1999, ending a colonial-era practice and aligning with modern governance needs.
These platforms will offer real-time coverage, expert discussions and detailed budget documents.
Other notable names include:
Sitharaman first presented the Union Budget in 2019 and has since overseen budgets through the pandemic and recovery phases.
Relief for the middle class remains a major talking point ahead of Budget 2026.
Any GST relief could have a direct impact on household spending and business sentiment.
One of the strongest demands ahead of Budget 2026 is a cut in import duties on raw materials such as:
High import duties raise input costs, making Indian jewellery less competitive globally. A reduction could lower prices, support exporters and strengthen India’s position in the global jewellery market.
These steps could significantly improve ease of doing business and reduce logistics delays.
As FM Nirmala Sitharaman prepares to present her ninth budget, the decisions announced on February 1 could shape India’s economic direction in the coming years.
Budget 2026 Date and Time: When Will the Union Budget Be Presented?
The Union Budget 2026 will be presented on Sunday, February 1, at 11:00 AM. Since 2017, February 1 has been the fixed budget date, allowing smoother parliamentary approvals and timely implementation from April 1.The presentation time was shifted from 5 PM to 11 AM in 1999, ending a colonial-era practice and aligning with modern governance needs.
Where to Watch Union Budget 2026 Live
The live telecast of Budget 2026 will begin at 11 AM and can be watched on:- Sansad TV
- DD News
- Official website: indiabudget.gov.in
- YouTube channels of Sansad TV and PIB
These platforms will offer real-time coverage, expert discussions and detailed budget documents.
FM Nirmala Sitharaman and the Budget Record
With her ninth budget, Nirmala Sitharaman moves closer to a historic milestone. Former Prime Minister Morarji Desai holds the record with 10 budget presentations across different tenures.Other notable names include:
- P. Chidambaram – 9 budgets
- Pranab Mukherjee – 8 budgets
Sitharaman first presented the Union Budget in 2019 and has since overseen budgets through the pandemic and recovery phases.
Top Budget 2026 Expectations for the Salaried Class
After the government raised the income tax exemption limit to Rs 12 lakh last year, salaried taxpayers are now hoping for additional relief. Key expectations include:- Increase in standard deduction to offset rising living costs
- Further simplification of income tax slabs
- Measures to boost disposable income and consumption
Relief for the middle class remains a major talking point ahead of Budget 2026.
GST Rate Cuts: A Major Demand in Budget 2026
Another big expectation from Budget 2026 is a rationalisation of GST rates. Industry and consumers alike are calling for:- Reduction in GST on essential and mass-consumption items
- Simplification of GST slabs to improve compliance
- Lower tax burden to revive demand across sectors
Any GST relief could have a direct impact on household spending and business sentiment.
Customs Duty Reforms: Focus on Imports and Exports
Reduce Import Duty on Precious Raw MaterialsOne of the strongest demands ahead of Budget 2026 is a cut in import duties on raw materials such as:
- Gold
- Silver
- Platinum
- Coloured gemstones
High import duties raise input costs, making Indian jewellery less competitive globally. A reduction could lower prices, support exporters and strengthen India’s position in the global jewellery market.
Simplifying the Customs Process
Industry stakeholders are also urging the government to modernise customs operations through:- Digital documentation
- Risk-based inspections
- Faster cargo clearance systems
These steps could significantly improve ease of doing business and reduce logistics delays.
Why Budget 2026 Matters
The Union Budget 2026 is crucial as it balances fiscal discipline with growth-oriented reforms. With expectations ranging from tax relief for salaried individuals to GST cuts and customs simplification, the budget will be closely watched by households, investors and industries alike.As FM Nirmala Sitharaman prepares to present her ninth budget, the decisions announced on February 1 could shape India’s economic direction in the coming years.
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