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Nirmala Sitharaman to present ninth Union Budget with reforms in focus

Nirmala Sitharaman will present her ninth consecutive Union Budget today, with expectations centred on reforms, growth priorities, rural development and capital expenditure.

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Union budget 2026

Finance Minister Nirmala Sitharaman will present her ninth consecutive Union Budget today, marking another key moment in India’s economic policy calendar. The Budget is expected to lay out measures aimed at sustaining growth in what remains the world’s fastest-growing major economy.

For fiscal 2027, policy priorities are likely to include defence, infrastructure, capital expenditure, power and faster growth in affordable housing, according to expectations ahead of the presentation.

Shift in Budget speech structure

This year’s Union Budget is expected to break with a long-standing tradition in the structure of the finance minister’s speech. Until now, most major policy announcements were typically made in Part A, while Part B focused on taxation. This time, Part B is expected to be used to present a broader vision for India’s economic future.

The finance minister is also expected to outline short-term priorities as well as longer-term goals, positioning India’s economic strategy as the country moves deeper into the 21st century, with emphasis on domestic strengths and global ambitions.

Market backdrop ahead of Budget

Ahead of the Budget presentation, equity markets opened lower. Gold and silver futures also declined sharply on the Multi Commodity Exchange, extending the impact of a severe two-day global sell-off.

India’s economy has so far remained resilient despite punitive tariffs imposed by the United States under President Donald Trump. Growth is forecast at 7.4 per cent for the year ending March 31, supported by government spending on infrastructure and tax measures that boosted consumption.

Focus on rural development and jobs

Rural development and agriculture are expected to be among the top priorities in Union Budget 2026. The finance minister may announce higher allocations for programmes aimed at expanding employment opportunities in rural areas.

The Rural Development Ministry has sought a sharp increase in funding for the new employment guarantee scheme, ‘Viksit Bharat – G Ram G’ or VB-G Ram G, proposing a budget of Rs 1.51 lakh crore, a 72 per cent rise. In comparison, the Mahatma Gandhi National Rural Employment Guarantee Scheme received Rs 86,000 crore in the previous Budget.

Fiscal deficit and capital expenditure

The budgeted fiscal deficit for fiscal 2026 is estimated at 4.4 per cent of gross domestic product. With the government having achieved a consolidation path that brought the deficit below 4.5 per cent, markets will closely watch signals on further debt-to-GDP reduction.

Capital expenditure for the current fiscal year has been budgeted at Rs 11.2 lakh crore. The government is expected to continue prioritising capex, with a possible increase of 10 to 15 per cent, as private sector investment remains cautious.

Investment reforms and global challenges

Further policy changes aimed at attracting domestic and foreign investment are also expected. These may include steps to make it easier for foreign companies to invest in defence firms that already hold licences.

The Union Budget 2026 comes at a time of mixed signals globally. While domestic demand remains steady and inflation has eased from recent highs, uncertainties linked to geopolitics, commodity price volatility and uneven monetary policy easing by major central banks continue to pose challenges.

India News

Jaishankar, Lavrov hold talks in New Delhi ahead of BRICS foreign ministers’ meet

S Jaishankar and Sergey Lavrov discussed India-Russia cooperation, energy ties and global issues ahead of the BRICS foreign ministers’ meeting in New Delhi.

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S. Jaishankar met Russian Foreign Minister Sergey Lavrov in New Delhi on Wednesday ahead of the two-day BRICS foreign ministers’ meeting hosted by India.

The meeting focused on strengthening India-Russia cooperation in areas including energy and trade, while the two leaders also exchanged views on major global developments.

Lavrov arrived in the national capital to participate in the BRICS foreign ministers’ conclave beginning Thursday. Ministers and delegates from several BRICS member countries, including Brazil and South Africa, are attending the discussions chaired by India.

In a social media post after the meeting, Jaishankar described the interaction as a “productive exchange of views” with his Russian counterpart. Reports said the talks also covered the ongoing West Asia tensions and the Ukraine conflict.

According to the Russian Foreign Ministry, the discussions were expected to review progress on bilateral agreements and preparations for upcoming high-level engagements between the two countries.

The BRICS foreign ministers’ meeting in New Delhi is likely to focus on regional security, global governance reforms, energy security and economic cooperation among member nations. The ongoing conflict in West Asia is also expected to feature prominently during the deliberations.

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India News

33 killed in rain-related incidents across Uttar Pradesh as storms lash state

At least 33 people died in different districts of Uttar Pradesh due to heavy rain, thunderstorms and lightning strikes as the state government announced compensation and relief measures.

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Unseasonal rain, thunderstorms and lightning strikes claimed at least 33 lives across Uttar Pradesh, prompting the state government to launch relief operations in affected districts.

According to officials, the highest number of deaths was reported from Bhadohi district, where 16 people lost their lives. Fatehpur recorded nine deaths, while Budaun reported five fatalities. Two people died in Chandauli district and one death was reported from Sonbhadra.

Uttar Pradesh Chief Minister Yogi Adityanath directed district administrations to ensure immediate assistance for affected families. He instructed officials to complete compensation and relief distribution within 24 hours.

The chief minister also asked authorities to closely monitor areas affected by heavy rain and thunderstorms and provide all necessary support to residents facing damage due to adverse weather conditions.

Several parts of northern India have witnessed sudden weather changes in recent days, with strong winds, lightning and rain disrupting normal life in many regions.

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Prateek Yadav had six injuries before death, lung blood clot caused cardiac collapse

The autopsy report of Prateek Yadav revealed six antemortem injuries and stated that a massive blood clot in the lungs caused cardiorespiratory collapse leading to his death.

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Prateek Yadav, son of late Samajwadi Party founder Mulayam Singh Yadav and half-brother of Akhilesh Yadav, died due to cardiorespiratory collapse caused by a massive pulmonary thromboembolism, according to post-mortem findings reported in Lucknow.

The post-mortem examination also found six antemortem injuries on his body. The injuries were reported on the chest, under the right arm, right forearm, right elbow joint, over the elbow and left wrist. Doctors noted that three of the injuries were around five to seven days old, while the remaining injuries were about a day old.

Medical experts stated that pulmonary thromboembolism is a serious condition in which blood clots block arteries in the lungs, affecting breathing and blood circulation.

The autopsy report further mentioned that samples related to the heart and lungs have been preserved for histopathological examination, while viscera samples were sent for chemical analysis to determine additional medical details.

Earlier reports citing sources had stated that no foul play was detected in the initial post-mortem findings. Prateek Yadav had reportedly been suffering from liver and lung-related complications and had been admitted to a hospital in Lucknow several times in the past.

Prateek Yadav died at the age of 38 in Lucknow after his health deteriorated suddenly at his residence. Political leaders and family members later paid tribute following the news of his death.

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