Explanatory Memorandum as to the Action Taken on the Recommendations Made by the Sixteenth Finance Commission+
Government scheme — a structured programme with defined beneficiaries, budget allocation, and delivery mechanisms. The primary instrument for delivering welfare and development outcomes.
Key Facts
Type Scheme
Source Ministry of Finance - Union Budget
Published Sunday, 8 March 2026
Affected Population 1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right