Budget 2026: Sitharaman Announces Scheme for Small Taxpayers, No Change in Tax Slabs | N18G

India's Finance Minister Nirmala Sitharaman presented the Annual Union Budget 2026-27 on Sunday. She announced no changes in income tax rates but proposed a new scheme for small taxpayers and said the new Income Tax Act will take effect from April 1. Sitharaman highlighted that simplifying the tax framework is a key step towards making the system more taxpayer-friendly and accessible. The announcement forms part of the broader Union Budget 2026 agenda, which seeks to balance fiscal discipline with citizen-centric reforms. Finance Minister Nirmala Sitharaman announced a series of customs duty and trade facilitation measures in her speech.

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