The Union Budget 2026 lays out a decisive roadmap for India’s long-term economic growth, closely aligned with the vision of Viksit Bharat 2047.
Through a series of broad-based reforms across sectors, the Budget reflects a clear intent to build a resilient, competitive, and future-ready economy while maintaining fiscal discipline.
A strong emphasis on energy transition is evident in policy measures and incentives for nuclear power, critical minerals, carbon capture, utilisation, and storage.
These initiatives, alongside a tax holiday until 2047 for foreign cloud service providers and an allocation of ₹40,000 crore for India Semiconductor Mission 2.0, underline the government’s focus on strategic technologies, reduced import dependence, and digital infrastructure readiness.
The Budget also targets the scaling up of manufacturing in frontier and strategic sectors such as biopharma, chemicals, capital goods, and textiles.
This approach aims to strengthen India’s position as a globally competitive and self-reliant manufacturing hub, while deepening domestic value chains.
On the taxation front, the Budget introduces tax holidays, transfer pricing reforms, rationalisation of TDS and TCS, and a voluntary disclosure scheme for foreign assets.
Individual taxpayers benefit from reduced TCS on overseas education and travel, along with a more pragmatic penalty framework.
Overall, Budget 2026 strikes a careful balance between accelerating economic expansion and preserving fiscal prudence.
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