India, Feb. 1 -- Amid the presentation of the Union Budget 2026, finance minister Nirmala Sitharaman has highlighted the need for multilateralism. The union minister's remarks on Sunday comes as India faces 50 percent tariffs from the US, of which 25 percent is a penalty for New Delhi's purchase of Russian oil.

"Today we face an external environment where trade and multilateralism is imperative," said Sitharaman while presenting the union budget in the Parliament. Follow LIVE updates on Budget 2026 here

Adding that India will continue to take steps towards Viksit Bharat, the finance minister also said that with this new budget a "reform express" will be underway.

"Our Kartavya is to ensure every family, community, and sector has access...