Ministry of Finance, Government of India

Stories

India lifts 496 million above lower-middle-income poverty line, World Bank says

Money Moves

Welcomed the World Bank's poverty findings

In 2011, 27 of every 100 Indians lived below $3 a day. By 2023, that number was 2.6.

Updated Oct 31

India's economic trajectory: From fifth to fourth largest economy

Rule Changes

As of May 2026: Implementing Union Budget 2026; coordinating new Income Tax Act rollout effective April 1, 2026

India surpassed Japan in mid-2025 to become the world's fourth-largest economy. On February 1, 2026, Finance Minister Nirmala Sitharaman presented Union Budget 2026 (India's first major tax code rewrite since 1961), with ₹12.2 lakh crore for capital expenditure and ₹20,000 crore for carbon capture technologies.

Updated May 23