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Union Budget 2026 highlights: Nirmala Sitharaman Raises Capex to Rs 12.2 Lakh Cr, West Bengal Gets Major Allocation

Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026 in Parliament today. Follow this space for live updates, key announcements, and policy insights.

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Finance Minister Nirmala Sitharaman arrives to present Union Budget 2026

Finance Minister Nirmala Sitharaman will shortly present the Union Budget 2026 in the Lok Sabha, marking her ninth consecutive Budget. The annual financial statement is expected to outline the government’s policy priorities, reform agenda and spending plans for the coming year. Stay tuned for live updates, key announcements and immediate reactions as the Budget speech unfolds.

Finance Minister Nirmala Sitharaman tabled her ninth Union Budget today, beginning her speech at 11 am.

Nirmala Sitharaman is set to present her ninth Union Budget today, with the finance minister scheduled to begin her speech at 11 am.

Budget 2026 live updates: Presenting the Union Budget for 2026–27, Finance Minister Nirmala Sitharaman said the occasion coincided with Magh Purnima and the birth anniversary of Guru Ravidas. She noted that over the past 12 years, India’s economic journey has been defined by stability, fiscal discipline, sustained growth and moderate inflation.

The budgeted fiscal deficit for fiscal 2026 is estimated at 4.4 per cent of gross domestic product (GDP)

Planned capital expenditure this fiscal year Rs 11.2 lakh crore

Rare earth corrdiors in Odisha and Kerala

Hi-tech tool rooms to be set up by PSUs

Construction equipment scheme to be launched

Container manufacturing scheme for Rs 10,000 crore over 5 years

Rs 10,000 crore SME Growth Fund

Semi-conductor mission to get Rs 40,000 crore

Rs 12.2 lakh crores for infrastructure development

Dedicated RITES to repurpose land of Central PSUs

20 new waterways over next 5 years to be connected

7 high-speed corridors on rail

High-level committee on banking for next phase of Viksit Bharat

Capital expenditure hike of to ₹12.2 lakh crore in Budget 2026, with West Bengal receiving a significant share of allocations.

Mahatma Gandhi Gram Swaraj Initiative aimed at boosting the khadi, handloom, and handicrafts sectors.

High-speed rail corridors: Mumbai-Pune, Pune-Bengaluru, Hyderabad-Bengaluru, Chennai-Bengaluru, Delhi-Varanasi, Varanasi-Siliguri, Pune-Hyderabad

Five university campuses to be established near industrial corridors

Lakpati Didi program expanded in Budget 2026 to reach more beneficiaries across India.

Fiscal deficit for FY26 revised to 4.4%; Budget Estimate for FY27 set at 4.3%.

TCS on overseas tour packages cut to 2% to ease travel costs

Tax holiday to foreign companies that provide cloud services by setting up data centres in India till 2047

17 cancer drugs exempted from import duties

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DK Shivakumar warns Karnataka voters: Lose voting rights, lose government benefits as electoral roll revision begins

Karnataka Chief Minister DK Shivakumar has asked citizens to ensure their names remain on voter rolls, warning that losing voting rights could also impact access to government benefits as the state’s electoral roll revision exercise gets underway.

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DK Shivakumar

Karnataka Chief Minister D. K. Shivakumar has urged residents to ensure that their names remain on the electoral rolls as the state begins a large-scale revision of voter lists.

The Election Commission on Tuesday launched the Special Intensive Revision (SIR) exercise across Karnataka, with booth-level officials set to conduct house-to-house visits until July 29 as part of the verification process.

Addressing concerns over the exercise, Shivakumar stressed the importance of retaining voting rights and warned that people who lose their eligibility as voters could also risk losing access to government welfare benefits.

“The right to vote is the right to live,” the Chief Minister said, adding that some states have already begun verifying welfare beneficiaries through similar exercises.

In a move aimed at helping residents complete the revision process, the Karnataka government has announced the issuance of permanent residential certificates. According to state authorities, these certificates can be obtained both online through the Seva Sindhu portal and offline at designated citizen service centres across the state.

State election officials said the revision exercise will cover more than 5.5 crore electors. Over 59,000 Booth Level Officers (BLOs), along with thousands of supervisors and electoral officials, have been deployed for the drive. Political parties have also appointed more than 1.1 lakh Booth Level Agents to assist in the process.

Officials clarified that BLOs will distribute enumeration forms to voters whose names were included in the electoral roll as of June 16, 2026. No documents will be collected during the initial enumeration phase, and officials have appealed to citizens to cooperate by receiving, filling and returning the forms.

The Election Commission has said the draft electoral roll will be published on August 5, after which claims and objections can be submitted until September 4. The final electoral roll is scheduled to be released on October 7.

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Haldia refinery fire leaves 15 injured after blaze erupts in naphtha pipeline

At least 15 people were injured after a fire broke out in a naphtha-carrying pipeline at Haldia Refinery in West Bengal early Tuesday morning.

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A major fire broke out at the Haldia Refinery in West Bengal early on Tuesday, injuring at least 15 people after flames engulfed a naphtha-carrying pipeline, according to reports.

The incident reportedly took place between 4 am and 5 am when flames suddenly erupted from the pipeline inside the refinery premises. Workers present near the site suffered burn injuries as the fire spread rapidly.

Visuals from the scene showed thick black smoke rising high into the sky as emergency teams and workers attempted to bring the blaze under control. Local residents and refinery authorities rushed to the spot soon after the incident was reported.

The injured were shifted to the Haldia Sub-divisional Hospital for treatment. Reports said that some of those injured were in critical condition.

Authorities have not yet revealed the exact cause of the fire. An investigation is expected to determine what triggered the blaze at the refinery.

Naphtha is a highly flammable fuel derived from crude oil and is commonly used in the production of fuels such as petrol and kerosene.

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Glacier melt triggers flash flood in Himachal’s Lahaul-Spiti, over 50 tourist vehicles stranded

A sudden increase in glacier meltwater triggered a flash flood-like situation in Himachal Pradesh’s Lahaul-Spiti district, damaging a road and stranding over 50 tourist vehicles.

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A sudden rise in glacier meltwater triggered a flash flood-like situation in Himachal Pradesh’s Lahaul-Spiti district, damaging a key road and leaving more than 50 tourist vehicles stranded, officials said.

The incident occurred on Monday afternoon at Jhalma Nallah, where a sudden surge in water flow washed away a portion of the road connecting the remote region. Authorities said no rainfall had been reported in the area, indicating that the sudden increase in glacier meltwater was responsible for the incident.

According to Lahaul-Spiti Superintendent of Police Shivani Mehla, more than 50 tourist vehicles were stranded after the swollen nallah damaged the road stretch. However, no casualties or injuries have been reported so far.

Restoration work underway

Officials said restoration work on the affected stretch was immediately taken up, with teams working to restore connectivity and facilitate the safe evacuation of stranded tourists.

The Border Roads Organisation (BRO), along with the local administration, has launched emergency repair operations and expressed confidence that the road link would be restored at the earliest. Authorities continue to monitor the situation closely.

The flash flood-like event temporarily disrupted traffic movement and cut off road access in the area. Similar weather-related disruptions have affected parts of Himachal Pradesh in recent days, with flash floods and heavy rainfall impacting road connectivity in several districts.

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