Defence, education, railways, income tax & more: 10 big announcements in Union Budget 2026

Finance minister Nirmala Sitharaman presented the Union Budget 2026-27, her ninth consecutive, with major announcements across defence, railways, income tax, and healthcare. Prime Minister Modi hailed it as “historic” and a “high flight toward Viksit Bharat.” Key proposals include a significant defence allocation, seven high-speed rail corridors, a simplified Income Tax Act, and support for rare-earth mineral development.