Parliament Approves Finance Bill 2026, Establishing Rs 53.47 Lakh Crore Spending Plan
Parliament approved the Finance Bill 2026, completing the budgetary process for FY 2026-27. The Union Budget outlines total expenditure of Rs 53.47 lakh crore, a 7.7% increase from the previous fiscal. Key proposals include Rs 12.2 lakh crore in capital expenditure, projected fiscal deficit at 4.3% of GDP, and no changes to income tax rates.
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The Finance Bill 2026 has been approved by Parliament, finalizing the budget for the fiscal year starting April 1. The Lok Sabha passed the Bill on March 25, which includes total expenditure of Rs 53.47 lakh crore, up 7.7% from the previous year.
Capital expenditure is proposed at Rs 12.2 lakh crore, with gross tax revenue forecasted at Rs 44.04 lakh crore and gross borrowing at Rs 17.2 lakh crore. The fiscal deficit for FY27 is estimated at 4.3% of GDP.
The Bill will enact changes in tax rates and duties impacting individuals and businesses. Key proposals include infrastructure projects, support for the electronics and bio-pharma sectors, and significant allocations for defense and healthcare.
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