New Delhi, Feb. 1 -- Union Finance Minister Nirmala Sitharaman on Sunday highlighted India's position as a global leader in software development services, IT-enabled services, knowledge process outsourcing and contract research and development.

Presenting the Union Budget 2026-27 in Parliament today, Sitharaman announced that these segments will be brought under a single category named "Information Technology Services".

"India is recognised as a global leader in software development services, IT-enabled services, knowledge process outsourcing, and contract R&D services. All these segments to be clubbed under a single category called Information Technology Services," Sitharaman said.

She further announced a common safe harbour margin of...