Bihar Leaders Hail Budget's "Vocal for Local" Push & Bihar Rail Corridor

He said the Budget also provides for an increase in seats in institutions such as IITs and IIMs, a reduction in the prices of life-saving medicines, and approval of a high-speed rail project in Bihar.

Speaking to ANI in Patna, Jaiswal said, "The Opposition has failed to grasp the seriousness of the Budget. This Budget outlines a self-reliant India through Vocal for Local, with the aim of creating employment in every home. Seats in IITs and IIMs are being increased...The prices of life-saving medicines have been reduced...The high-speed rail project in Bihar has been approved."

Janata Dal (United) MP Sanjay Jha called the Union Budget progressive, saying the Opposition should question its past performance.

"This is a progressive budget. Let the Opposition speak. What have they done till now?" Jha told ANI.

Earlier, Bihar CM Nitish Kumar also praised the Budget, saying the provisions will bring significant benefits to Bihar.

"This budget by the Central Government has been presented keeping in mind the goals of building a developed India. This budget is progressive and forward-looking. Through this budget, the Central Government has taken several important steps to accelerate the pace of the country's development. This time, the Central Budget has announced the creation of 7 high-speed rail corridors in the country. Among these, the Varanasi-Siliguri high-speed rail corridor will bring significant benefits to Bihar as well. Additionally, the budget has announced the creation of 20 new national waterways across the country. Under this, ship repair facilities will be provided in Patna and Varanasi. The expansion of waterways will benefit many cities in Bihar, enhance the export facilities for the state's products, and boost commercial and business activities," Nitish Kumar said.

On Sunday, Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27 in Lok Sabha, her ninth consecutive Union Budget.

Some of the key announcements of the budget were that public capital expenditure has been increased to Rs 12.2 lakh crore for FY 2026-27, up from Rs 11.2 lakh crore in the previous year, underlining the government's continued focus on infrastructure-led growth.

Key initiatives include the development of seven high-speed rail corridors connecting major cities, new dedicated freight corridors, and the operationalisation of 20 national waterways over the next five years to promote environmentally sustainable transport systems.

A major highlight on the taxation front was the announcement that the New Income Tax Act, 2025, will come into effect from April 2026, accompanied by simplified rules and redesigned forms to ease compliance for taxpayers. The Budget also proposes reductions in Tax Collected at Source (TCS) rates for overseas tour packages, education and medical expenses under the Liberalised Remittance Scheme.

- ANI