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India Budget 2026: Today, February 1, 2026, Finance Minister Nirmala Sitharaman presented the Union Budget for the country. This budget not only focuses on infrastructure and development but also emphasizes 'Ease of Living' and 'Ease of Compliance' for the common man.
If you want to know what's special for you in this year's budget, take a look at the Top 5 Highlights below
India Budget 2026: Top 5 Major Announcements for Taxpayers and Youth
1. Income Tax: New Law and Relief for Taxpayers
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This time, the government has completely revamped the Income Tax Act, 1961, and announced a new and simplified Income Tax Act, 2025.
- Slab Rates: Although there are no changes in the tax slabs, compliance has been made so easy that filing taxes will now be much faster than before.
- Special Relief: The interest received on motor accident claims will now be tax-free, which is a great relief for many families.
2. Infrastructure: A New Era of Speed and Connectivity
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The government has allocated a mega budget of ₹12.2 Lakh Crore for infrastructure. This will directly impact our travel and business costs:
- High-Speed Rail: Work will be accelerated on 7 new corridors (such as Mumbai-Ahmedabad and Delhi-Varanasi).
- National Waterways: 20 new waterways will be built in the next 5 years, making freight transport cheaper.
3. Healthcare: Cancer Medicines Become Cheaper
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Taking a major step in the health sector, the government has completely removed Customs Duty on 17 life-saving cancer drugs. This will make cancer treatment more affordable and provide better facilities to the common man. Along with this, a target of 75,000 new seats has been set to promote medical education.
4. Youth and Jobs: Opportunities for Content Creators and MSMEs
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This year, there is a significant focus on the 'Orange Economy' (Creative Industry)
- Creators Economy: The goal is to create 20 lakh new employment opportunities for YouTubers, artists, and digital creators through new schemes and funding.
- SME Growth Fund: A fund of ₹10,000 crore has been created for small businesses (MSMEs) to help them expand their businesses.
5. Agriculture: Modernization of Farming with AI
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To increase farmers' income, an AI-powered platform called 'Bharat Vistar' has been launched. This platform will provide farmers with real-time information on weather, soil quality, and fair crop prices in their own language.
Conclusion
Budget 2026 shows that the country is now ready to move away from outdated laws and embrace digital and modern approaches. While there is heavy investment in infrastructure, emphasis has also been placed on healthcare and tax simplification for the common man.
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