Budget 2026: What are benefits for middle class, farmers, defence? Know big highlights of Union Budget

New Delhi: India's Union Budget 2026 has been presented. In her third budget speech under Modi 3.0 and the ninth of her tenure, Finance Minister Nirmala Sitharaman made several major announcements. These included a reduction in customs duties, which will lower the prices of many goods, as well as the announcement of 7 high-speed rail corridors and 1000 clinical trial sites. The government also emphasized its focus on the prosperity of farmers. Let's look at 10 key takeaways from the budget and understand what different sections of society, from the middle class to farmers, have gained from it.

What did the middle class get from the budget?

In the third budget of Modi 3.0, there were no announcements regarding tax-related expectations. People had hoped that the standard deduction limit would be increased from Rs 75,000 to Rs 1 lakh, but this did not happen. Thus, the middle class received no direct benefits. However, some announcements do appear to benefit them. This includes the exemption of duties on essential medicines. The budget has eliminated customs duty on 17 medicines, including those for cancer and diabetes. Additionally, the reduction in customs duty on several products will make items used by the middle class, such as shoes, slippers, and smartphones, cheaper.

What about MSME Champions?

During her budget speech, Finance Minister Sitharaman announced a large fund to promote micro, small, and medium enterprises (MSMEs). The government has allocated Rs 10,000 crore for the MSME Growth Fund, and the government's objective is to create champion MSMEs.

What were announcements for the Health and Medical Sector?

Budget 2026 focused on the health and medical sector. The Finance Minister announced that the private sector will participate in 5 medical hubs, where AYUSH centers, diagnostic services, post-care, and rehabilitation centers will be developed, which will increase employment in the health sector. In addition, the export of high-quality Ayurvedic products will be promoted. A bio-pharma scheme was also announced.

What's special for farmers?

Finance Minister Nirmala Sitharaman also made major announcements for farmers and the agriculture sector in her speech. A credit-linked subsidy program will be launched to increase employment in the animal husbandry sector. Dairy, poultry, and livestock businesses will be modernized, and farmer organizations will be promoted through value chain development. A Coconut Incentive Scheme will support high-value crops like coconut and sandalwood, benefiting 1 crore farmers and 3 crore people. Meanwhile, an ‘AI Agri Tool’ will help farmers increase productivity and make better decisions.

What's in it for the armed forces?

The budget allocates ₹7.8 lakh crore to the Ministry of Defence for the financial year 2026-27. This reflects the government's focus on modernizing the armed forces. A provision of ₹2.19 lakh crore has been made for capital expenditure for the defense forces. Last year, this figure was ₹1.80 lakh crore. Major announcements for the defense sector were already expected following the success of Operation Sindoor.

What's in it for athletes?

The government has also focused on the sports sector in the budget, announcing plans to strengthen the Khelo India Mission for the next 10 years. Under this mission, training centers will be established, coaches and support staff will receive training, infrastructure will be developed, and national-level competitions and leagues will be organized. Additionally, duties on sports equipment have been reduced, making them more affordable.

What did women get from the budget?

She-Marts have been announced for rural women. To promote businesses led by such women, SHE (Self-Help Entrepreneur) Marts will be launched where women can easily sell their products. The Finance Minister also mentioned the success of the Lakhpati Didi scheme. In addition, hostels will be built for female students in approximately 800 districts. The target is to build at least one hostel in every district.

Is there good news for students studying abroad?

A major announcement has been made in the budget regarding the expenses for medical treatment and education abroad. The government has reduced the interest rate on expenses under TCS (Tax Collected at Source) from 5% to 2%. This means you will have to pay less interest if you spend your money abroad. However, this will only be applicable to education and medical expenses. In simple terms, studying and receiving medical treatment abroad will now become cheaper.

Will Stock Market Investors benefit?

This budget has proven to be a shock for stock market investors as taxes have been increased again. The government has increased the Securities Transaction Tax (STT). STT was previously 0.1%, but it has now been increased to 0.15%. This had a devastating effect on the stock market, resulting in a crash and wiping out ₹8 lakh crore of investors' money.

Will the Manufacturing Sector get a India's Union Budget 2026 has been presented. In her third budget speech under Modi 3.0 and the ninth of her tenure, Finance Minister Nirmala Sitharaman made several major announcements. These included a reduction in customs duties, which will lower the prices of many goods, as well as the announcement of 7 high-speed rail corridors and 1000 clinical trial sites. The government also emphasized its focus on the prosperity of farmers. Let's look at 10 key takeaways from the budget and understand what different sections of society, from the middle class to farmers, have gained from it.

Will the Manufacturing Sector get a boost?

The budget speech showed a special focus on the manufacturing sector. An allocation of ₹40,000 crore has been announced for the EMS (Electronics Manufacturing Services) sector. This budget was ₹19,500 crore in the previous year's budget. Due to the doubling of the allocation for the PLI (Production Linked Incentive) Scheme, the shares of EMS companies are showing strong activity.

The budget speech showed a special focus on the manufacturing sector. An allocation of ₹40,000 crore has been announced for the EMS (Electronics Manufacturing Services) sector. This budget was ₹19,500 crore in the previous year's budget. Due to the doubling of the allocation for the PLI (Production Linked Incentive) Scheme, the shares of EMS companies are showing strong activity.