Budget 2026 LIVE Updates: Budget Session Begins Today, President Addresses Parliament

President Droupadi Murmu told Parliament that the government has made strong progress in giving insurance protection to people. She said schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana have helped crores of people get insurance cover, with claims worth more than ₹24,000 crore already paid out.

Speaking during the Budget Session, President Droupadi Murmu said that Babasaheb Ambedkar always believed in equality and social justice, values that are also at the heart of India’s Constitution. She said every citizen should enjoy full rights without facing any discrimination and assured that the government remains committed to delivering real social justice. The President added that these efforts have helped nearly 25 crore people come out of poverty in the last ten years, and said the government’s third term is moving faster to further support and empower the poor.

"With India accelerating its renewable energy and energy-transition goals, the Union Budget 2026 should continue to support domestic manufacturing across solar PV modules, power electronics, motors, pumps and lighting solutions," said, Vinit Bediya, Chairman and MD, Silver Consumer Electricals Limited.

"Policy stability through consistent PLI frameworks, rationalisation of customs duties on critical raw materials, and incentives for backward integration, including components and upstream technologies, will be essential to reducing import dependence, strengthening supply-chain resilience, and building globally competitive manufacturing ecosystems," he added.

"Such measures can enhance cost efficiency, encourage long-term capacity creation and enable organised MSMEs to invest in technology, automation and localisation. A well-aligned policy framework that supports energy efficiency, clean manufacturing and skill development will help advance the objectives of Make in India and Atmanirbhar Bharat, while accelerating India’s transition towards a resilient, self-reliant and innovation-led manufacturing economy," Bediya further said.

"From a travel and mobility perspective, Budget 2026 presents a strong opportunity to reinforce the foundations of the sector through strategic investments. Enhanced allocation towards tourism infrastructure and development can significantly strengthen connectivity while enabling more sustainable and inclusive growth across destinations," said, Yummi Talwar, Chief Operating Officer, South Asia Region, VFS Global.

"At the same time, focused investment in education and skilling, particularly in line with the government’s priority of preparing youth for an AI-driven future will be critical to building a future-ready workforce that can support the evolving needs of global mobility," she added.

"Continued emphasis on digital infrastructure and secure technology systems will further simplify travel facilitation, enhance efficiency, and build trust across cross-border journeys. A forward-looking Budget that brings together infrastructure development, AI-led skilling, and technology enablement can play a pivotal role in positioning India as a competitive, agile, and globally integrated economy," Talwar further said.

“The Union Budget’s relevance to technology will lie in how clearly it supports long-term, platform-led transformation rather than isolated technology adoption," Krishnan Venkateswaran, chief information and technology officer, Titan, said. Clear compliance and data frameworks will shape how enterprises build resilient digital cores that support transparency, traceability, and scalable AI adoption over multiple business cycles. Measures that support consumption and manufacturing can further drive investments in customer experience, analytics, automation, and connected operations across supply chains.

Ahead of the Budget, expectations are rising across sectors, particularly on the income-tax (IT) front. Rising living costs, higher housing expenses, and taxes on investment returns have now fuelled fresh calls for relief on the income-tax front. However, with the proposed Income-tax Act, 2025 already introduced, some industry experts expect limited substantive changes on the direct tax front in the upcoming Budget.