Union Budget 2026: Key Winners and Challenges Across Sectors

Announced by Finance minister Nirmala Sitharaman on Sunday, the budget aimed at balancing three equally crucial parameters -- growth, stability and reforms.

While there are several compliance friendly initiatives and focussed tax rate tweaks, the Budget script also raises taxes and curbs expenditures in targeted areas to boost revenues.

If you are a taxpayer, the government has brought focus on easing procedures rather than slashing tax rates across board. Measures like allowing more time to revise your income tax return, rationalising penalty provisions and decriminalising certain offences are expected to reduce stress and boost compliance.

If you are an investor, especially a foreign one, union budget 2026 has given you a lot to cheer about. Investment limits have been increased across instruments and taxation norms have been simplified. However, increase in transaction cost on derivatives is something punters would not like, while stricter deduction norms would have investors walking a limbo.

Finance minister Nirmala Sitharaman doled out multiple relief measures for taxpayers. Firstly, you can now revise your income tax return within three months more time. The deadline to revise your ITR has been increased from December 31 to March 31 on payment of a nominal fee.

Small budget impact investors can expect a rule-based automated system to receive lower or nil tax deduction certificates online. There is also a six-month compliance window for voluntary disclosure of undisclosed foreign assets/income (intended towards students, professionals and returning NRIs) without any interest during the appeal period.