Nirmala Sitharaman’s Historic 9th Union Budget: List of Big Announcements in Last 7 Years

New Delhi: Finance Minister Nirmala Sitharaman will present her ninth consecutive budget in Parliament on February 1, 2026 (Sunday). The new budget is expected to focus on economic upheaval amid global uncertainties.

So far, FM Sitharaman has presented a total of eight straight Budgets, including an interim one in February 2024.

India's Union Budgets over the last seven years (presented from 2019 to 2025 for fiscal years 2019-20 to 2025-26) have focused on economic recovery, fiscal consolidation, infrastructure development, tax reforms, and social welfare. Under Finance Minister Nirmala Sitharaman (from 2019), these budgets emphasized structural reforms, such as boosting capital expenditure, reducing fiscal deficits, and promoting initiatives like Make in India, Atmanirbhar Bharat, and Viksit Bharat. Key themes include post-pandemic stimulus, agricultural support, MSME empowerment, and sustainable growth.

Report on Major Announcements in India's Union Budgets (2017-2025)

Below is a year-wise list of big announcements, drawn from official analyses and summaries.

2019 Union Budget (for FY 2019-20, including Interim and Full)

-Aimed for $5 trillion economy by FY25; raised standard deduction to ₹50,000 for salaried.
-Provided full tax rebate for income up to ₹5 lakh; introduced ₹6,000 annual direct transfer to small/marginal farmers under PM-KISAN (₹75,000 crore allocation). 
-Increased surcharge on high-income individuals (effective rates up to 42.74% for super-rich).
-Announced major corporate tax cuts in September 2019: Base rate to 22% (effective 25.17% with cess), 15% for new manufacturing firms.
-Relaxed FDI norms in several sectors; proposed external sovereign borrowing.
-Allocated ₹20,000 crore for farmer transfers in FY19.
-Fiscal deficit at 3.4% of GDP; gross tax revenue buoyancy at 1.45.

2020 Union Budget (for FY 2020-21)

-Introduced new optional income tax regime with lower rates (e.g., 10% for ₹5-7.5 lakh) but no exemptions; slashed rates for 70% of taxpayers. 
-Abolished Dividend Distribution Tax (DDT), shifting taxation to shareholders.
-Announced IPO for Life Insurance Corporation (LIC) and stake sale in IDBI Bank.
-Allocated ₹2,830 billion to agriculture with 16-point agenda; ₹690 billion to healthcare (10% increase), including TB elimination by 2025.
-Launched National Mission on Quantum Technologies (₹80 billion over 5 years); planned 100 new airports under UDAN.
-Developed five archaeological sites (e.g., Rakhigarhi) as iconic tourist spots.
-Exempted certain defence imports from customs duty; set up International Bullion Exchange at GIFT IFSC.
-Fiscal deficit at 3.5% of GDP; extended concessional CIT for manufacturing to March 2024 due to COVID.

2021 Union Budget (for FY 2021-22)

-Increased healthcare allocation by 137% to ₹2.24 lakh crore, including ₹35,000 crore for COVID vaccines and ₹64,180 crore for PM Aatma Nirbhar Swasth Bharat Yojana. 
-Allocated ₹2.87 lakh crore over 5 years for Jal Jeevan Mission (universal water supply).
-Launched Swachh Bharat Mission 2.0 (₹1.41 lakh crore over 5 years) for waste management.
-Introduced Vehicle Scrapping Policy with incentives for new vehicles.
-Invested ₹1.97 lakh crore in Production Linked Incentive (PLI) schemes for 13 sectors.
-Established 7 Mega Investment Textile Parks (MITRA) over 3 years.
-Record ₹1.18 lakh crore for roads/highways; ₹1.1 lakh crore for railways (100% electrification by 2023).
-Announced India's first digital census (₹3,768 crore).
-Fiscal deficit at 6.7% of GDP; launched National Monetization Pipeline for assets.

2022 Union Budget (for FY 2022-23)

-Introduced 30% tax on virtual digital assets (crypto); 1% TDS on transfers.
-Launched digital rupee (CBDC) using blockchain.
-Increased capital expenditure by 35% to ₹7.5 lakh crore (2.9% of GDP).
-Extended ECLGS for MSMEs till March 2023 with ₹50,000 crore additional guarantee.
-Allocated ₹1 lakh crore as 50-year interest-free loans to states for infrastructure.
-Planned 5G spectrum auction; 75 Digital Banking Units in 75 districts.
-Focused on PM Gati Shakti with 7 engines (roads, railways, etc.); green bonds for sustainable projects.
-Fiscal deficit targeted at 6.4% of GDP.

2023 Union Budget (for FY 2023-24)

-Revised new tax regime slabs (e.g., 5% for ₹3-6 lakh, up to 30% above ₹15 lakh); no tax up to ₹7 lakh with rebate. 
-Increased capital expenditure to ₹10 lakh crore (3.3% of GDP).
-Launched Sickle Cell Anaemia elimination mission; 157 new nursing colleges.
-Allocated ₹2.4 lakh crore for railways; ₹79,000 crore for PMAY.
-Introduced Green Credit Programme under Environment Protection Act.
-Focused on 'Amrit Kaal' with priorities like infrastructure, green growth, and youth.
-Fiscal deficit at 5.9% of GDP.

2024 Union Budget (for FY 2024-25)

-Revised new tax slabs (e.g., 5% up to ₹7 lakh); increased standard deduction to ₹75,000, exempting up to ₹7.75 lakh. 
-Abolished angel tax for startups; increased STCG tax to 20%, LTCG to 12.5% with ₹1.25 lakh exemption.
-Reduced TDS rates (e.g., 2% for rent/commission); allocated ₹11.11 lakh crore for capex (3.4% GDP).
-₹2.66 lakh crore for rural development; ₹1.52 lakh crore for agriculture.
-Fiscal deficit at 4.9% of GDP; priorities: Employment, skilling, MSMEs, middle class.
-Exempted three cancer drugs from customs duties.

2025 Union Budget (for FY 2025-26)

-New tax regime: No tax up to ₹12 lakh; revised slabs (e.g., 5% for ₹4-8 lakh); standard deduction ₹75,000. 
-Raised FDI in insurance to 100%; introduced new Income Tax Bill for simplification.
-Enhanced MSME credit guarantees up to ₹20 crore; 10 lakh credit cards (₹5 lakh limit) for micro enterprises.
-Launched PM Dhan-Dhaanya Krishi Yojana for 100 low-productivity districts; mission for pulses self-reliance.
-Allocated ₹1.5 lakh crore interest-free loans to states; ₹1 lakh crore Urban Challenge Fund.
-Nuclear Energy Mission (₹20,000 crore) for small modular reactors; 0.5% extra GSDP borrowing for power reforms.
-Added 10,000 medical seats; gig workers under Ayushman Bharat; PM SVANidhi revamp with UPI cards.
-Fiscal deficit at 4.4% of GDP; capex up 10.1% to ₹11.11 lakh crore (approx.).

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