India's ₹54k crore budget moves ahead after unanimous passage of reforms package in Parliament
The Lok Sabha unanimously approved the Union Budget for fiscal year ending March 2026, incorporating thirty-two government amendments into a total allocation exceeding fifty-three lakh crores. Finance Minister Nirmala Sitharaman emphasized that these structural changes are now driven by genuine conviction rather than political compulsion following their passage through Parliament on Wednesday evening via voice vote in the lower house of India's legislature (Mar).
Key Points
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1The Indian Parliament passed the Finance Bill for fiscal year 2026-27 on March 25.
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2Lok Sabha approved a Union Budget of ₹53.47 lakh crore incorporating thirty-two government amendments via voice vote.
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3Finance Minister Nirmala Sitharaman stated that India's reforms are driven by conviction rather than compulsion following the legislative endorsement.
Developments
The Lok Sabha passed the Finance Bill 2026, which includes thirty-two government amendments that cleared the path for a ₹53.47 lakh crore Union Budget covering fiscal year 2026–27. This legislative milestone was announced on March 25 at approximately 10:29 pm IST following an earlier report from ten minutes prior to midnight in Indian Standard Time (IST).
The Lok Sabha approved Finance Bill 2026 with ₹53.47 lakh crore in total expenditure forecast against a fiscal deficit of 4.3% GDP on Wednesday; the bill will now proceed to Rajya Sabha for final ratification before completing Budget cycle completion by March next year, according to Prime Minister Narendra Modi's stewardship and Finance Minister Nirmala Sitharaman said that India is moving forward with reform not out compulsion but conviction clarity confidence commitment.