Sun Feb 01 09:10:50 UTC 2026: ### Headline: Sitharaman Focuses on the Poor, Underprivileged in Ninth Budget Presentation

The Story:

During her ninth consecutive budget presentation on February 1, 2026, Finance Minister Nirmala Sitharaman declared that the government’s central ‘sankalp’ (resolve) is to prioritize the needs of the poor, underprivileged, and disadvantaged segments of society. This declaration follows earlier pronouncements from Prime Minister Modi characterizing the budget as “historic” and reflective of the aspirations of 140 crore Indians, and Union Minister Amit Shah suggesting it would bolster India’s global image.

Key Points:

  • Finance Minister Nirmala Sitharaman presented her ninth consecutive budget on February 1, 2026.
  • The government’s ‘sankalp’ is to focus on the poor, underprivileged, and disadvantaged.
  • Prime Minister Modi described the budget as “historic”.
  • The budget is intended to lay the “foundation for journey towards Viksit Bharat by 2047”.
  • A new Income Tax Act will come into effect on April 1, 2026.

Key Takeaways:

  • The government is emphasizing social welfare as a core component of its fiscal policy.
  • Strong rhetoric from top government officials suggests a concerted effort to portray the budget as transformative.
  • The implementation of a new Income Tax Act could have significant financial implications for citizens and businesses.
  • The repeated emphasis on “Viksit Bharat by 2047” indicates a long-term strategic vision driving budget allocations.

Impact Analysis:

The stated focus on the poor and underprivileged, combined with a new Income Tax Act, suggests potential shifts in resource allocation and taxation policies. Depending on the specific details of the Act and the implementation of welfare programs, the long-term impact could include:

  • Reduced Income Inequality: If effectively targeted, programs for the underprivileged could contribute to reducing the gap between the rich and the poor.
  • Increased Social Mobility: Investments in education and skill development could empower disadvantaged groups to improve their socio-economic standing.
  • Economic Growth: Targeted interventions for the poor could stimulate demand and contribute to broader economic growth.
  • Tax Revenue Implications: The new Income Tax Act could lead to increased or decreased tax revenues, impacting the government’s ability to fund its initiatives. The specific impact will depend on the details of the legislation.

    Read More

Related News: