Union Budget 2026 | FM Drops Mega Finance Plan: Banking, Bonds And Tech In Focus
Finance Minister Nirmala Sitharaman said India’s banking sector is on strong footing, marked by robust balance sheets, record profitability, improved asset quality, and banking coverage across over 98% of villages. To sustain reform-led growth, she proposed setting up a High-Level Committee on Banking for Viksit Bharat to align the sector with India’s next growth phase while ensuring stability, inclusion, and consumer protection. She outlined a forward-looking vision for NBFCs, including restructuring of PFC and REC, reforms in foreign investment rules, and deepening capital markets through new frameworks for corporate bonds, total return swaps, and incentives for large municipal bond issuances. To improve ease of doing business, she announced higher foreign portfolio investment limits for individuals abroad. Emphasising technology as a growth enabler, the FM highlighted initiatives like the AI Mission, National Quantum Mission, and R&D funds, while reaffirming focus on services, education-to-employment pathways, and capacity building to support a youthful, aspirational India and advance the vision of Viksit Bharat.
Finance Minister Nirmala Sitharaman said India’s banking sector is on strong footing, marked by robust balance sheets, record profitability, improved asset quality, and banking coverage across over 98% of villages. To sustain reform-led growth, she proposed setting up a High-Level Committee on Banking for Viksit Bharat to align the sector with India’s next growth phase while ensuring stability, inclusion, and consumer protection. She outlined a forward-looking vision for NBFCs, including restructuring of PFC and REC, reforms in foreign investment rules, and deepening capital markets through new frameworks for corporate bonds, total return swaps, and incentives for large municipal bond issuances. To improve ease of doing business, she announced higher foreign portfolio investment limits for individuals abroad. Emphasising technology as a growth enabler, the FM highlighted initiatives like the AI Mission, National Quantum Mission, and R&D funds, while reaffirming focus on services, education-to-employment pathways, and capacity building to support a youthful, aspirational India and advance the vision of Viksit Bharat.
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