Budget 2026: Key Numbers and Major Announcements
Finance Minister Nirmala Sitharaman presented the full Union Budget for 2025-26, targeting a lower fiscal deficit of 4.5% and a massive capital expenditure push. This marks her seventh budget speech and the NDA government’s first budget of its third consecutive term.
Key Takeaways
- Fiscal Deficit: Target set at 4.5% for FY26; FY25 estimate revised to 5.2%.
- Capital Expenditure: Record ₹11.11 lakh crore allocation, a 16.9% increase.
- Nominal GDP Growth: Estimated at 10.5% for FY26.
- Major Schemes: New initiatives announced for solar power, housing, agriculture, and healthcare.
Fiscal and Economic Targets
The government reaffirmed its commitment to fiscal consolidation. The fiscal deficit is projected to fall to 4.5% of GDP in FY26, down from a revised estimate of 5.2% for the current year.
Capital expenditure sees a significant boost, with an outlay of ₹11,11,111 crore for the next financial year. Total expenditure is pegged at ₹39,99,999 crore.
On the revenue side, gross tax receipts are estimated at ₹38.81 lakh crore, an 11.5% rise. The economy’s nominal growth is projected at 10.5%, with the GDP size estimated at over ₹328 lakh crore.
Flagship Scheme Announcements
The budget introduced several new and expanded welfare programmes:
Surya Ghar Yojana: Aims to provide 300 units of free monthly electricity to 1 crore households via rooftop solar.
Housing for All: Target increased from 3 crore to 4 crore houses. A new scheme will assist middle-class families in rented or unauthorised housing to buy or build homes.
Krishi Uday: Focuses on affordable agricultural inputs and boosting pulses and oilseeds production.
Healthcare Expansion: The Ayushman Bharat scheme will be extended to cover all senior citizens above 70 years, offering ₹5 lakh annual coverage per family. A separate health cover for poor and vulnerable families was also announced.
Farmer Support: The PM-Kisan scheme will continue providing ₹6,000 annual income support to all farmers.
Other Key Initiatives
The budget also outlined schemes for digital payments (Digital India), startup funding (Startup India), skill training for 1 crore youth (Skill India), and promoting renewable energy (Green India).
Existing missions like Swachh Bharat, Beti Bachao Beti Padhao, Jan Dhan Yojana, Ujjwala Yojana, and Saubhagya Yojana received continued emphasis with updated targets.
