Budget Speech 2026: Full Text of FM Nirmala Sitharaman Union Budget Speech

FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday presented the Union Budget in Parliament, laying out the government’s economic priorities, reform agenda and fiscal roadmap at a time when the global environment remains challenging.

The Budget speech outlined the Centre’s approach to growth, reforms and fiscal management, while addressing domestic priorities amid global uncertainty.

How To Download Budget Speech 2026’s Full Text? Here’s The Direct Link

The PDF of Sitharaman’s Budget Speech can be downloaded from https://www.indiabudget.gov.in/. The PDF of the budget documents will be available after the finance minister’s speech is over.

The Budget documents can be read and downloaded from https://www.indiabudget.gov.in/.

The official portal hosts the complete set of Budget papers, including the Finance Minister’s speech, key announcements, and supporting documents, allowing citizens, businesses and analysts to access detailed information on the Union Budget 2026.

Meanwhile, Finance Minister Nirmala Sitharaman on Sunday said the Income Tax Act, 2025 will be implemented from April 1 and rules and tax returns forms will be notified shortly.

Beginning April 1, the Income Tax Act, 2025, will come into force replacing the six-decade-old tax law and the changes made in tax laws in 2026-27 Budget will be incorporated in the new legislation.

In her Budget speech in the Lok Sabha on Sunday, she said, "This (direct tax code) was completed in record time and the Income Tax Act 2025 will come into effect from first April 2026. The simplified income tax rules and forms will be notified shortly, giving adequate time to taxpayers to acquaint themselves with its requirements." The forms have been redesigned, such that ordinary citizens can comply without difficulty, she added.

The 2025 I-T law is revenue neutral with no change in tax rates. It has only made direct tax laws simple to understand, removed ambiguities, thereby reducing scope for litigations. It reduces text volume and sections by about 50 per cent vis-a-vis the 1961 Income Tax Act.

The new law simplifies the tax timeline by doing away with the distinction between the assessment year and the previous year, replacing it with a single "tax year" framework. It also allows taxpayers to claim TDS refund even when ITRs are filed after deadlines, without any penal charges.