Union Budget 2026-27: Finance Minister Sitharaman proposes incentives of ₹100 crore for single bond issuance by municipal corporations

Nirmala Sitharaman, India's Finance Minister, proposed incentives of ₹100 crore for single bond issuance by municipal corporations exceeding ₹1,000 crore in the Union Budget 2026. She also announced restructuring plans for REC Limited and Power Finance Corporation (PFC) as part of government efforts to strengthen public sector financial institutions. The Minister proposed a high-level committee on 'Banking for Viksit Bharat' and suggested reviewing foreign exchange management non-debt instruments rules. Sitharaman highlighted the country's strong banking sector with a healthy balance sheet and historic profitability, noting that nearly 25 crore people have been lifted out of multidimensional poverty.