February 1, 2026 — Daily Current Affairs

Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on February 1, 2026, sets total expenditure at Rs 53.47 lakh crore with a fiscal deficit of 4.3% of GDP — continuing India’s fiscal consolidation path. The budget overhauls personal income tax slabs under the new regime, replaces MGNREGS with the VB-G RAM G scheme guaranteeing 125 employment days, and significantly boosts capital expenditure to Rs 12.2 lakh crore (3.1% of GDP). The Economic Survey 2025-26 (tabled January 30) projects India’s real GDP growth at 7.4% for FY26 with CPI inflation at a historic low of 1.7%.