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NEW DELHI — Union Finance Minister Nirmala Sitharaman moved the Finance Bill, 2026 for consideration and passage in the Lok Sabha, completing the Lower House’s portion of the legislative process for the Union Budget 2026–27. The Lok Sabha subsequently passed the legislation with 32 government amendments via voice vote.
The passage gives legal authority to the Central Government’s tax proposals, tariff rationalization measures, and fiscal targets for the financial year beginning April 1, 2026.
Key Highlights of Union Budget & Finance Bill 2026–27
The total budgetary outlay for FY 2026–27 stands at ₹53.47 lakh crore, reflecting a 7.7% increase over the previous fiscal year.
| Parameter | Projected Figure (FY 2026–27) |
| Total Outlay / Expenditure | ₹53.47 lakh crore |
| Capital Expenditure (CapEx) | ₹12.20 lakh crore |
| Gross Tax Revenue Target | ₹44.04 lakh crore |
| Gross Market Borrowing | ₹17.20 lakh crore |
| Fiscal Deficit Target | 4.3% of GDP (down from 4.4%) |
Core Priorities & Structural Reforms
In her address to the House, Finance Minister Nirmala Sitharaman highlighted that the budget is grounded in three key duties (Kartavya): accelerating economic growth, fulfilling aspirations and building capacity, and ensuring inclusive development (Sabka Saath, Sabka Vikas).
- Focus on Frontier & Strategic Sectors:
- Launching Rare Earth Corridors across mineral-rich states (Odisha, Kerala, Andhra Pradesh, and Tamil Nadu) to boost mining, processing, and advanced manufacturing.
- Establishing 3 dedicated Chemical Parks and a Container Manufacturing Scheme with a ₹10,000 crore allocation over 5 years.
- Building 3 new National Institutes of Pharmaceutical Education and Research (NIPER) along with upgrading existing ones to foster biopharma innovation.
- MSME & Infrastructure Support:
- Mandating TReDS (Trade Receivables Discounting System) for CPSE purchases from MSMEs to ensure swift liquidity.
- Infrastructure push targeting Tier II and Tier III growth centers (cities with population > 5 lakh).
- Tax Compliance & Foreign Assets Disclosure:
- Introduction of the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, aimed at simplifying compliance and offering immunity from penalties for eligible small declarants.
- Streamlined direct tax administrative processes and rationalization of customs tariffs.
Parliamentary Debate & Next Steps
During the debate, opposition members raised concerns regarding inflation, cost of living, energy price volatility, and employment generation. Treasury bench members lauded the budget for its fiscal discipline, sustained infrastructure investments, and commitment to long-term economic resilience.
With the Lok Sabha passing both the Appropriation Bill, 2026 and the Finance Bill, 2026, the legislative proposals now move to the Rajya Sabha for consideration to complete the 2026–27 budgetary approval process.
This coverage provides insight into the legislative proceedings surrounding the Finance Bill 2026 in the Lok Sabha: Finance Bill 2026 Passed In Lok Sabha: Key Ammendments & Decisions Explained. This news report offers a direct visual record of the parliamentary debate and summary of the key amendments passed during the session.
