On February 1, 2026, Finance Minister Nirmala Sitharaman announced a tax holiday for foreign companies. These companies must provide cloud services worldwide using data centres located in India. The tax holiday will last until 2047, subject to specific conditions. "I propose to provide tax holiday till 2047 to any foreign company that provides cloud services to customers globally by using data centre services from India," Ms. Sitharaman said during the Union Budget 2026-27 speech. To benefit, companies need to serve Indian customers through an Indian reseller entity. Besides this, the government will upgrade the National Council for Hotel Management and Catering Technology into a National Institute of Hospitality. A new National Institute of Mental Health and Neurosciences (NIMHANS-2) will also be created. In environmental efforts, Ms. Sitharaman said key turtle nesting sites and turtle trails will be developed in Odisha, Karnataka, and Kerala. Finally, the government will extend tax deductions to cooperative members supplying cotton seeds and cattle feed.