Union Budget 2026, Feb. 1 -- The Union Budget 2026-27 signalled a broad recalibration of India's indirect tax framework, with Finance Minister Nirmala Sitharaman announcing an extensive set of customs and excise measures aimed at simplifying tariffs, strengthening domestic manufacturing, boosting export competitiveness and easing the cost of living. The proposals form part of the government's wider push to align trade policy with India's long-term 'Viksit Bharat' growth ambitions.

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Presenting the Budget in Parliament, Sitharaman said the latest round of reforms would continue the process of pruning outdated exemptions, correcting inverted duty structures and improving certainty and efficiency in c...