The Finance Minister focus mental health, knows all the details
Budget 2026: Finance Minister makes a major announcement on mental health: Finance Minister Nirmala Sitharaman is presenting the Budget 2026 in Parliament. The Lakhpati Didi scheme has been successful. They are moving forward in establishing credit-linked employment. They are setting up self-employment ventures. We have a plan to empower people with disabilities, exploring opportunities for them in various sectors, said the finance minister.
We will provide them with opportunities in areas where they can thrive. An institution will be established for the manufacturing of artificial limbs. We will strengthen these centers. Making a major announcement regarding mental health, he said that mental health institutions will be strengthened said, the finance minister.
Rs 1.4 lakh crore to be given to states – Finance Minister: The 16th Finance Commission had submitted its report to the President. Their recommendations have been accepted. We are providing Rs 1.4 lakh crore to the states in 2026-27, which will be used for development related to rural and urban areas.
How much is the government spending?
The Finance Minister said that the gap between loans and GDP has narrowed. He said that we received ₹26.7 lakh crore in taxes, while ₹34 lakh crore was received through other means. The total expenditure is ₹49.6 lakh crore. Capital expenditure was ₹11 lakh crore. The loan deficit is estimated to be ₹36.5 lakh crore in 2026-27. An expenditure of ₹53.5 lakh crore has been announced. We will borrow from the market to cover the fiscal deficit.
Major announcement regarding income tax:
Finance Minister Nirmala Sitharaman has made a major announcement regarding the new income tax regime. She stated that the income tax forms will be simplified. The new law will come into effect from April 1, 2026. This law proposes to replace penalties with fines for technical errors. Only fines will be levied for minor tax offenses. The tax on foreign travel has been reduced. The TCS (Tax Collected at Source) rate for foreign travel has been set at 5%. Tax returns can be filed until July 31st. This law also proposes to increase the limit for undisclosed income to one crore rupees.
