New Delhi: Finance Minister Nirmala Sitharaman on Sunday announced a six-month foreign asset disclosure scheme for small taxpayers, including students, technology professionals and relocated non-resident Indians (NRIs), while presenting the Union Budget 2026–27.

The scheme is aimed at helping individuals regularise foreign asset disclosures without facing prolonged penalties or legal hurdles.

The Finance Minister also said that no interest will be levied on the penalty amount during the period an appeal is pending before the first appellate authority, regardless of the final outcome.

In a relief measure for cooperatives, Sitharaman proposed a three-year exemption on dividend income received by notified cooperative societies for investments made up to January 31, 2026.

On the healthcare front, the Budget announced plans to increase capacity in district hospitals by 50 per cent through the establishment of emergency and trauma care centres, aimed at strengthening critical care infrastructure.

The Budget also outlined initiatives to promote sustainable tourism, with plans to develop eco-friendly mountain trails in Himachal Pradesh, Uttarakhand, Jammu and Kashmir, the Araku Valley of the Eastern Ghats and the Western Ghats.

PTI