India Budget Speech 2026: Top quotes by Finance Minister Nirmala Sitharaman

Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday presented her ninth consecutive Union Budget. The budget 2026 was presented in the Lok Sabha on February 1. Before presenting the budget, Sitharaman collected the Budget tablet from the Finance Ministry and also met with President Droupadi Murmu, who also fed her dahi cheeni for good luck.

Here are the top quotes by Finance Minister Nirmala Sitharaman during the Union Budget 2026:

1. FM Nirmala Sitharaman on tax return timelines: Union FM Nirmala Sitharaman said, "I propose to extend time available for revising returns from 31st December to up to 31st March with the payment of a nominal fee. I also propose to stagger the timeline for filing of tax returns - individuals with ITR 1 and ITR 2 will continue to file till 31st July and non-audit business cases or trust are proposed to be allowed time till 31st August."
2. FM Nirmala Sitharaman on tax incentives for overseas travel and education: Union Finance Minister Nirmala Sitharaman said, "I propose to reduce TCS rate on the sale of overseas tour program package from the current 5% and 20% to 2% without any stipulation of amount."
3. FM Nirmala Sitharaman on easing TDS compliance for small taxpayers: Union Finance Minister Nirmala Sitharaman said, "I propose a scheme for small taxpayers, wherein a rule-based automated process will enable obtaining a lower or nil deduction certificate instead of filing an application with the assessing officer. For the ease of taxpayers holding securities in multiple companies. I propose to enable depositories to accept Form 15G or Form 15H from the investor and provided directly to various relevant companies."
4. FM Nirmala Sitharaman on duty-free import incentives: Union FM Nirmala Sitharaman said, "I propose to increase the limit for duty-free imports of specified inputs used for processing sea foods for export from the current 1% to 3% of FOB value of the previous year's export turnover. I also propose to allow duty-free imports of specified inputs which is currently available for exports of leather or synthetic footwear to exports of shoe uppers as well."
5. FM Nirmala Sitharaman on state devolution: Union Finance Minister Nirmala Sitharaman said, "...The Government has accepted 16th Finance Commission recommendations to retain the vertical share of devolution at 41%. I have allocated Rs 1.4 lakh crores for states for FY2026-27."
6. Finance Minister on India’s growth trajectory: The Finance Minister said, "India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion. As a growing economy with expanding trade and capital needs, India must also remain deeply integrated with global markets. We have maintained fiscal prudence and monetary stability whilst maintaining a strong thrust on public investments." "India must be deeply integrated with global markets, exporting more and attracting foreign investment. New technologies enhancing production but sharply increasing demand on water and energy. We have made substantial strides in poverty reduction. This government led by PM Modi has chosen action over ambivalence, reforms over rhetoric and people over populism," she added.
7. Finance Minister on the government’s three kartavya and reform roadmap: "We are inspired by three kartavya: accelerate and sustain economic growth, fulfill aspirations of people and build capacity and third is to ensure that every family community region has access to resources," the Finance Minister said, adding, "The first requirement is to sustain the moment of momentum of structural reforms, continuous, adaptive and forward-looking."
8.  FM Nirmala Sitharaman on rare earth strategy: Union Finance Minister Nirmala Sitharaman said, "...A scheme for rare earth permanent magnets was launched in 2025. We now propose to support the mineral-rich states of Odisha, Kerala, Andhra Pradesh, and Tamil Nadu in establishing dedicated rare-earth corridors."
9. FM Nirmala Sitharaman on semiconductors push: Union Finance Minister Nirmala Sitharaman said, "...We will launch India Semiconductor Mission 2.0 and also focus on industry-led research and training centres to develop tech and skilled workforce."
10. FM Nirmala Sitharaman on global challenges and India’s growth path: Union FM Nirmala Sitharaman said, "Today, we face an external environment in which trade and multilateralism are in imperent and access to resources and supply chains are disrupted. New technologies are transforming production systems while sharply increasing demands on water, energy and critical minerals. India will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion. As a growing economy with expanding trade and capital needs, India must also remain deeply integrated with global markets, exporting more and attracting stable long-term investment."
11. FM Nirmala Sitharaman on customs duty exemptions: Union FM Nirmala Sitharaman said, "I propose to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing lithium-ion cells for battery energy storage systems also. I propose to exempt the basic customs duty on import of sodium antimonate for use in the manufacturing of solar glass."
12. FM Nirmala Sitharaman on bio-pharma push: Union Finance Minister Nirmala Sitharaman said, "...To develop India as a global bio-pharma manufacturing hub, I propose Bio Pharma Shakti with an outlay of Rs 10,000 crores over the next 5 years. This will build an ecosystem for domestic productions of biologics and biosimilars."
13. FM Nirmala Sitharaman on six growth priorities: Union Finance Minister Nirmala Sitharaman said, " To accelerate and sustain economic growth, I propose interventions in six areas -Scaling up manufacturing in 7 strategic sectors; Rejuvenating legacy industrial sectors; Creating champion MSMEs; Delivering a push for infra; Ensuring long-term security and stability; Developing city economic regions."
14. FM Nirmala Sitharaman on overseas investor norms: Union Finance Minister Nirmala Sitharaman said,"... Individual Persons Resident Outside India (PROI) will be allowed to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme. It is also proposed to increase investment for PROI from 5% to 10%."
15. FM Nirmala Sitharaman on high-speed rail corridors: Union FM Nirmala Sitharaman said, "In order to promote environmentally sustainable passenger systems, we will develop 7 high-speed rail corridors between cities as growth connectors: Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, Hyderabad to Chennai, Chennai to Bengaluru, Delhi to Varanasi, Varanasi to Siliguri."
16. FM Nirmala Sitharaman on public capex: Union Finance Minister Nirmala Sitharaman said, "... In 2026-27, I propose to increase public capex to Rs 12.2 lakh crores."
17. FM Nirmala Sitharaman on medical tourism push: Union Finance Minister Nirmala Sitharaman said, "To promote India as a medical tourism hub, I propose a scheme to support states to set up 5 regional hubs in the country."
18. FM Nirmala Sitharaman on services-led growth plan: Union FM Nirmala Sitharaman said, "I propose to set up a High-Powered ‘Education to Employment and Enterprise’ Standing Committee to recommend measures that focus on the Services Sector as a core driver of Viksit Bharat. This will make us a global leader in services, with a 10% global share by 2047. The Committee will prioritise areas to optimise the potential for growth, employment and exports. They will also assess the impact of emerging technologies, including AI, on jobs and skill requirements and propose measures thereof."
19. FM Nirmala Sitharaman on services-led growth plan: Union FM Nirmala Sitharaman said, "To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states. A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030."
20. FM Nirmala Sitharaman on higher education push: Union Finance Minister Nirmala Sitharaman said,"...I propose multiple steps towards setting up new institutes, University townships, girls hostel and telescope infrastructure facilities in investment in higher education sector. A girls hostel will be built in every district of the country."
21. FM Nirmala Sitharaman on sports sector boost: Union FM Nirmala Sitharaman said, "The Sports Sector provides multiple means of employment, skilling and job opportunities. Taking forward the systematic nurturing of sports talent which is set in motion through the Khelo India programme, I propose to launch a Khelo India Mission to transform the Sports sector over the next decade."