Union Finance Minister Nirmala Sitharaman on Sunday tabled her 9th consecutive Budget. It is the first time in India's fiscal history that the Union Budget 2026 was presented on a Sunday.
FM Sitharaman tabled Union Budget and said, "," Since we assumed office 12 years ago, the country's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made even in times of uncertainty and disruptions."
During her Budget Speech 2026, Nirmala Sitharaman made plethora of key announcements. Although the name of Punjab was not mentioned during Sitharaman's Budget 2026, a few of her announcements are likely to benefit Punjab especially sports industry in Jalandhar and Textile industry in Ludhiana.
Union Budget 2026 has been a mixed bag for Punjab. While Sitharaman announced significant technological and logistical support for the state's industrial sectors but she did not made any announcements on several key fiscal demands raised by the state government.
While the Budget paves the way for a global leap for MSMEs in Ludhiana and Jalandhar, it did not address Punjab's urgent plea for a Rs 12,905 crore flood relief package or the immediate release of pending Rural Development Funds (RDF).
The Finance Minister has announced a major boost for the MSMEs. Centre has raised the investment limits for MSMEs, enabling industries of Punjab to access higher loans, enhanced credit guarantees and increased government support.
In a move aimed at boosting exports, Sitharaman has also announced that the central government will facilitate the global marketing of Punjab's key products such as Ludhiana’s hosiery goods and Jalandhar’s sports equipment.
A dedicated ‘Export Desk’ will be set up on the CHAMPIONS portal to help entrepreneurs sell their products on global e-commerce platforms with greater ease.
During the presentation of the budget, FM Sitharaman said that India has the potential to emerge as a global hub for high quality, affordable sports goods.
In this endeavour, the Budget proposed a dedicated initiative for sports goods that will promote manufacturing, research and innovation in equipment design as well as material sciences.
Notably, Jalandhar is known for manufacturing of sports goods.
Centre's CHAMPIONS portal will be upgraded with AI and Machine Learning. This will ensure faster grievance redressal for MSMEs and help automatically identify areas where small industries face shortages of raw materials.
Through this portal it is expected that MSMEs will be directly connected to international markets. A dedicated Export Desk will be created to promote products such as Ludhiana's hosiery and Jalandhar's sports goods on global e-commerce platforms.
For farmers, Centre has announced special incentives so that they can go beyond wheat and paddy. Incentives have been announced for oilseed and pulse cultivation.
Opposition leaders are not happy with Centre's Union Budget 2026.
Punjab LoP Pratap Bajwa wrote on X, "Budget 2026–27 confirms Punjab has been completely forgotten. No relief for Annadata farmers, no jobs roadmap for our youth, no plan for industry or cities.
Big words changed, ground reality unchanged—“reforms” that never arrive. Twelve years of @BJP4India in power, and not a single answer for Punjab. No vision, no will— not even slogans left to defend this neglect. "
