The Lok Sabha on Wednesday passed the Finance Bill 2026, along with 32 government amendments as Union Finance Minister Nirmala Sitharaman said India is riding on the reform express and that reforms are happening with conviction and clarity.
With the passage of the Finance Bill 2026, the Lok Sabha completed its part of the Budgetary approval process.
The Upper House, Rajya Sabha, will now consider the Bill. After the Rajya Sabha approves the Bill, the Budget process for 2026-27 will be complete.
The Union Budget 2026-27 envisages a total expenditure of Rs 53.47 lakh crore, an increase of 7.7 per cent over the current fiscal ending March 31.
The total capital expenditure proposed for the next fiscal is Rs 12.2 lakh crore. It proposes a gross tax revenue collection of Rs 44.04 lakh crore and a gross borrowing of Rs 17.2 lakh crore.
The fiscal deficit for FY27 is projected at 4.3 per cent of GDP, lower than 4.4 per cent in the current fiscal.
Replying to the debate on Finance Bill 2026 in the Lok Sabha, Sitharaman said, “Reform is not happening out of compulsion, but out of conviction, with clarity, confidence and commitment. India is riding on the reform express under the leadership of Prime Minister Narendra Modi.”
She further said there is a trust-based tax administration that is being improved by reducing unnecessary hardship for honest taxpayers.
The government has taken various steps to empower MSMEs, farmers, and cooperatives because they are at the heart of creation of employment for production and for the overall development of India, she said.
This Finance bill aims to support them with very many measures that improve liquidity but also reduce the compliance burden and give them the opportunity to have greater contribution towards the larger economy, she added.
Elaborating further on the Bill, the Finance Minister said customs reforms have been proposed by altering many provisions with the objective to promote trade facilitation.
Downlaod the Notice of Amendments to the FINANCE BILL, 2026 CLICK HERE
