Nirmala Sitharaman speech LIVE: Govt gives a massive boost to defence budget, ₹7.8 lakh cr allocated

NIrmala Sitharaman spoken language unrecorded: Finance government minister Nirmala Sitharaman on sun concluded her Budget 2026-27 speech communication in the Lok Sabha in nearly one-and-a-half hours long address, laying out the government’s economic roadmap anchored in growth, investment and fiscal stability. Key announcements included a sharp push to public capital expenditure at ₹12.2 lakh crore in 2026-27. The finance minister announced government's renewed outlook with a thrust on manufacturing, semiconductors and MSMEs.The address also highlighted targeted initiatives in health, sports, tourism and women-led enterprises, all framed around the vision of building a Viksit Bharat by 2047. This marked her historic ninth consecutive Union Budget address in the Lok Sabha.Sitharaman’s pre-Budget routineFinance minister Nirmala Sitharaman followed the customary pre-Budget protocol on Sunday. As per established tradition, she called on President Droupadi Murmu at Rashtrapati Bhavan before heading to Parliament.Follow Union Budget 2026 liveEarlier in the day, Sitharaman posed for photographs with her Budget team outside her office at Kartavya Bhavan. Dressed in a magenta silk saree, she was seen carrying a tablet enclosed in a red pouch bearing the national emblem, alongside Minister of State for Finance Pankaj Chaudhary and the six secretaries of the finance ministry.After meeting the President, Sitharaman proceeded to a Cabinet meeting, where the Union Budget for 2026-27 received formal approval. She continues the tradition she introduced in 2019 by carrying the Budget speech in a ‘bahi-khata’ style pouch, replacing the earlier briefcase custom.Income tax relief in focusAs in previous years, income tax announcements are among the most closely watched in Nirmala Sitharaman's speech. Individuals who received relief last year through higher exemption limits and GST rate cuts are hoping for further measures, particularly an increase in the standard deduction. Follow Income Tax 2026 LIVE updatesExpectations are also high around reforms and planned government expenditure, even as the broader focus shifts to fiscal management and legal financial proposals. Follow Stock Market LIVE updatesWhat’s on the Lok Sabha agenda todayAccording to the Lok Sabha List of Business, the House will meet at 11 am. Sitharaman will present a statement of the estimated receipts and expenditure of the Government of India for 2026-27.She will also lay on the table two statements mandated under Section 3(1) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. These include the Medium-term Fiscal Policy-cum-Fiscal Policy Strategy Statement and the Macro-economic Framework Statement.Finance Bill to be introducedThe List of Business further states that Sitharaman will seek leave to introduce the Finance Bill, 2026, and formally introduce it in the Lok Sabha. The Finance Bill gives legal backing to the government’s taxation and financial proposals announced in the Budget.Economic Survey 2025-26Ahead of the Budget, Sitharaman tabled the Economic Survey of India for 2025-26 in Parliament on Thursday, following long-standing tradition.Often described as the economy’s annual “report card”, the Survey explains the rationale behind upcoming fiscal decisions by analysing trends, challenges and growth drivers, while the Budget lays out future spending and taxation plans.PM Modi on Sitharaman’s Budget speechSitharaman, who took charge of the finance ministry on May 31, 2019, will become the longest-serving finance minister to hold the post continuously. She completed six years and eight months in office on January 31, 2026, and Sunday’s presentation will mark her record ninth Budget in a row.Ahead of the session, Prime Minister Narendra Modi said Sitharaman presenting the Budget for the ninth consecutive time “will be recorded as a matter of pride in India's parliamentary history”.What time will Budget’s speech startFM Sitharaman is scheduled to begin her Union Budget 2026 speech in the Lok Sabha at 11 am on Sunday. The Budget address typically runs for around 90 to 120 minutes, after which the Finance Bill is formally tabled in Parliament.Where to watch Budget 2026The Budget speech will be broadcast live across multiple platforms including on Hindustan Times. Viewers can watch the proceedings on Sansad TV and Doordarshan, while official livestreams will also be available on the India Budget Portal and the budgetlive.nic.in website. The speech will be streamed on the Sansad TV and PIB India YouTube channels.Are stock markets open todayThe Indian stock markets are open on Sunday, February 1, 2026, with a special live trading session scheduled to coincide with the presentation of the Union Budget 2026.