Nirmala Sitharaman's Budget 2026: ₹1.4 Lakh Crore Special Package for States
Budget
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Moneycontrol•01-02-2026, 14:22
Nirmala Sitharaman's Budget 2026: ₹1.4 Lakh Crore Special Package for States
- •Union Finance Minister Nirmala Sitharaman announced ₹1.4 lakh crore in Finance Commission grants for states in the 2026-27 budget.
- •Funds are allocated for development schemes, disaster management, and supporting rural and urban local bodies.
- •The Centre accepted the 16th Finance Commission's recommendation, earmarking a 41% vertical share from central taxes for states.
- •Rajasthan and Jharkhand already received over ₹723 crore for rural bodies, with Rajasthan distributing ₹303 crore to various panchayats.
- •A new Coconut Promotion Scheme was introduced to boost production, improve farmer income, and adopt new technologies.
Why It Matters: Budget 2026 provides significant financial support to states and local bodies, along with new agricultural initiatives.
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