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Budget 2026

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Union Budget 2026 Latest Updates

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Budget Allocation (₹ Cr)

Ministry 2024-25 (Lakh Cr) 2025-26 (Lakh Cr) 2026-27 (Lakh Cr) FY27 vs FY26
Defence 6.22 6.81 7.85 15.2%
Road Transport And Highways 5.48 5.47 5.98 9.3%
Home Affairs 2.19 2.33 2.55 9.4%
Education 1.21 1.29 1.39 7.8%
Health 0.87 0.99 1.04 5.0%

Income Tax Slabs

Tax Rate Old Regime (Amount in Lakh) New Regime (FY27)
Nil upto 2.5 L upto 4 L
5% 2.5 L to 5 L 4 L to 8 L
10% - 8 L to 12 L
15% - 12 L to 16 L
20% 5 L to 10 L 16 L to 20 L
25% - 20 L to 24 L
30% Above 10 L Above 24 L
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Budget 2024

LIVE UPDATES

Budget 2026 Focuses On Manufacturing, Infrastructure, Fiscal Discipline Says Rahul Jain

Key Announcements

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Letters to FM

Chandrajit BanerjeeDirector General, CII

"As India strides forward on its path of green transition, it is imperative to have a holistic approach to decarbonisation where transition finance, circularity and a robust ESG reporting ecosystem are prioritised, in addition to the focus on renewables and green mobility."

Md. Sajid KhanDirector – India, ACCA

"As India prepares for the Union Budget 2026, the focus on strengthening the country’s financial and economic ecosystem must go hand in hand with investing in future-ready talent. The accounting and finance profession is undergoing rapid transformation driven by digitalisation, sustainability reporting, AI, and evolving global compliance standards."

Yash MehtaCEO, ABP Education

"As India looks ahead to the Union Budget 2026–27, the education sector stands at a defining moment. While access and infrastructure have seen steady progress, the focus must now shift to quality, learning outcomes, and future readiness. The upcoming Budget presents a critical opportunity to move from intent to impact and build a truly future-ready, inclusive education ecosystem."

Naveen Chandra JhaMD & CEO, SBI General Insurance

"As we approach Union Budget 2026, the general insurance sector is at a key inflection point, shifting from rapid topline expansion to sustainable, disciplined growth. Stronger regulation, better claims governance and rising customer expectations are driving a more transparent and capital-efficient ecosystem."

SB SekerHead of APAC, Binance

"India’s rapid adoption of blockchain and virtual digital assets (VDA) reflects both the scale of its digital economy and growing participation by retail users. The forthcoming budget presents an opportunity to strengthen the VDA ecosystem through measured regulatory and tax refinements that protect users, maintain financial stability, and support responsible market development."

Manish ShahMD & CEO, Godrej Capital

"As India moves into the next phase of financial deepening, the focus must shift from simply expanding credit to improving the quality, accessibility, and sustainability of finance. While capital availability has improved, the real opportunity lies in making finance more affordable, flexible, and aligned to the cash-flow realities of households, MSMEs, and emerging entrepreneurs."

Tarun ChughMD & CEO, Bajaj Life Insurance

"As the Union Budget approaches, it presents an opportunity to strengthen life insurance as a long-term savings and retirement solution through more consistent and equitable policy support. Recent policy measures, such as the exemption of insurance premiums from GST, have laid a strong foundation for sectoral growth, and the Budget can build on this momentum through thoughtful, outcome-oriented measures."

George Alexander MuthootMD, Muthoot Finance

"As we approach the Union Budget 2026, we are hopeful that the government will continue to prioritise measures that deepen formal credit access for first-time and underserved borrowers. Affordable, secured lending plays a critical role in promoting financial inclusion, especially for households and micro-entrepreneurs who often lack access to traditional banking products."

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Sectoral Report

Income Tax

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Agriculture

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Defence

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Railway

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Automobile

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Real Estate

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Budget Timeline

2019-26

Nirmala Sitharaman will table her ninth consecutive Budget this year, becoming the first finance minister to present 9 budgets in a row, including 8 annual budgets and 1 interim budget. She is also India’s first female full-time finance minister. She introduced the new tax regime in Union Budget 2020, which aimed to provide simplified tax slabs for the public.

Nirmala Sitharaman

Nirmala Sitharaman will table her ninth consecutive Budget this year, becoming the first finance minister to present 9 budgets in a row, including 8 annual budgets and 1 interim budget. She is also India’s first female full-time finance minister. She introduced the new tax regime in Union Budget 2020, which aimed to provide simplified tax slabs for the public.

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2019-20

Presented by FM Piyush Goyal ahead of the 2009 elections, the budget focused on providing immediate relief with schemes like the Kisan Samman Nidhi for farmers and included a full tax rebate for income up to Rs 5 lakh per annum.

Piyush Goyal

Presented by FM Piyush Goyal ahead of the 2009 elections, the budget focused on providing immediate relief with schemes like the Kisan Samman Nidhi for farmers and included a full tax rebate for income up to Rs 5 lakh per annum.

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2015-19

Presented by FM Arun Jaitley, the Narendra Modi govt’s first budget focused on ‘Sabka Sath, Sabka Vikas’ and introduced the Skill India programme. The next few budgets aimed for fiscal consolidation, and saw new schemes, major reforms, launch of Ayushman Bharat and measures after GST and demonetisation.

Arun Jaitley

Presented by FM Arun Jaitley, the Narendra Modi govt’s first budget focused on ‘Sabka Sath, Sabka Vikas’ and introduced the Skill India programme. The next few budgets aimed for fiscal consolidation, and saw new schemes, major reforms, launch of Ayushman Bharat and measures after GST and demonetisation.

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2013-15

Presented by FM P Chidambaram, the last full budget of UPA II included increased spending and new taxes levied on the rich and large companies aimed to reduce the fiscal deficit and revive growth. The Interim Budget next year aimed for fiscal stability with excise duty cuts and no tax changes.

P Chidambaram

Presented by FM P Chidambaram, the last full budget of UPA II included increased spending and new taxes levied on the rich and large companies aimed to reduce the fiscal deficit and revive growth. The Interim Budget next year aimed for fiscal stability with excise duty cuts and no tax changes.

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2009-13

FM Pranab Mukherjee presented the interim budget ahead of 2009 LS polls amid a global financial crisis. He continued as FM in the UPA II government, during which the country saw tax cuts for individuals and businesses, increased spending to create jobs, cash subsidies instead of bonds, and a service tax rate hike.

Pranab Mukherjee

FM Pranab Mukherjee presented the interim budget ahead of 2009 LS polls amid a global financial crisis. He continued as FM in the UPA II government, during which the country saw tax cuts for individuals and businesses, increased spending to create jobs, cash subsidies instead of bonds, and a service tax rate hike.

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2005-09

FM P Chidambaram presented the budget of the newly formed UPA government and focused on a healthcare revamp. The next few budgets saw tax cuts for domestic companies and individuals, push for public-private partnerships, increased NREGA coverage, farm loan waivers, income tax breaks, and increased spending on education.

P Chidambaram

FM P Chidambaram presented the budget of the newly formed UPA government and focused on a healthcare revamp. The next few budgets saw tax cuts for domestic companies and individuals, push for public-private partnerships, increased NREGA coverage, farm loan waivers, income tax breaks, and increased spending on education.

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2003-05

FM Jaswant Singh presented the budget giving a boost to agriculture sector. Interim Budget 2004-05 emphasised the NDA government’s ‘Panch priorities’ — poverty reduction, agriculture boost, infrastructure development, fiscal consolidation, and efficient manufacturing.

Jaswant Singh

FM Jaswant Singh presented the budget giving a boost to agriculture sector. Interim Budget 2004-05 emphasised the NDA government’s ‘Panch priorities’ — poverty reduction, agriculture boost, infrastructure development, fiscal consolidation, and efficient manufacturing.

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1999-03

Finance Minister Yashwant Sinha tabled the Union Budget at 11 am in 1999. The millennium budget next year focused on fiscal control and encouraged the IT sector with tax breaks and e-governance. Next two budgets aimed to boost infra, tech, rural development, simplified corporate tax structure, highlighted rural economy, and emphasised deregulation in agriculture, sugar, and drugs.

Yashwant Sinha

Finance Minister Yashwant Sinha tabled the Union Budget at 11 am in 1999. The millennium budget next year focused on fiscal control and encouraged the IT sector with tax breaks and e-governance. Next two budgets aimed to boost infra, tech, rural development, simplified corporate tax structure, highlighted rural economy, and emphasised deregulation in agriculture, sugar, and drugs.

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1998-99

The first NDA-led government under the leadership of PM Atal Bihari Vajpayee came to power. Then Finance Minister Yashwant Sinha presented the General Budget on June 1, 1998 — the last time the Union Budget was presented at 5 pm on the last day of February.

Yashwant Sinha

The first NDA-led government under the leadership of PM Atal Bihari Vajpayee came to power. Then Finance Minister Yashwant Sinha presented the General Budget on June 1, 1998 — the last time the Union Budget was presented at 5 pm on the last day of February.

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1996-98

After the United Front govt came to power under the leadership of PM HD Deve Gowda, Finance Minister P Chidambaram presented the General Budget. His 1997-98 budget was called the Dream Budget, which lowered income tax rates, removal of the surcharge on corporate taxes, and reduced corporate tax rates.

P Chidambaram

After the United Front govt came to power under the leadership of PM HD Deve Gowda, Finance Minister P Chidambaram presented the General Budget. His 1997-98 budget was called the Dream Budget, which lowered income tax rates, removal of the surcharge on corporate taxes, and reduced corporate tax rates.

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1991-96

On July 24, 1991, the Congress returned to power under the prime ministership of PV Narasimha Rao. FM Manmohan Singh’s first budget was hailed as a 'landmark' budget, ushering in a series of reforms.

Manmohan Singh

On July 24, 1991, the Congress returned to power under the prime ministership of PV Narasimha Rao. FM Manmohan Singh’s first budget was hailed as a 'landmark' budget, ushering in a series of reforms.

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1990-91

On March 19, 1990, Third Front government came to power with VP Singh as PM. Finance Minister Madhu Dandavate tabled the Union Budget.

Madhu Dandavate

On March 19, 1990, Third Front government came to power with VP Singh as PM. Finance Minister Madhu Dandavate tabled the Union Budget.

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1989-90

Shankarrao Chavan became the new finance minister and tabled the Budget in the Lok Sabha. Rajiv Gandhi was the prime minister. .

Shankarrao Chavan

Shankarrao Chavan became the new finance minister and tabled the Budget in the Lok Sabha. Rajiv Gandhi was the prime minister. .

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1988-89

Finance Minister ND Tiwari tabled the Union Budget, the only year he did so in his long political career.

ND Tiwari

Finance Minister ND Tiwari tabled the Union Budget, the only year he did so in his long political career.

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1987-88

Prime Minister Rajiv Gandhi presented the Union Budget, becoming the third PM to do so, after VP Singh resigned.

Rajiv Gandhi

Prime Minister Rajiv Gandhi presented the Union Budget, becoming the third PM to do so, after VP Singh resigned.

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1985-87

Presented by Finance Minister VP Singh, who was given the portfolio after Rajiv Gandhi became the PM following the assassination of Indira Gandhi in 1984.

VP Singh

Presented by Finance Minister VP Singh, who was given the portfolio after Rajiv Gandhi became the PM following the assassination of Indira Gandhi in 1984.

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1982-85

Finance Minister Pranab Mukherjee tabled three Union Budgets under PM Indira Gandhi, the year 1984 being her last budget.

Pranab Mukherjee

Finance Minister Pranab Mukherjee tabled three Union Budgets under PM Indira Gandhi, the year 1984 being her last budget.

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1980-82

The regular Union Budget for 1980-81 and 1981-82 were tabled by Finance Minister R. Venkatraman. Indira Gandhi was the prime minister of India then.

R. Venkatraman

The regular Union Budget for 1980-81 and 1981-82 were tabled by Finance Minister R. Venkatraman. Indira Gandhi was the prime minister of India then.

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1979-80

Presented by Deputy PM and Finance Minister Charan Singh. Highlight: It absorbed the effects of the states share of Union excise charges doubling from 20 to 40 per cent.

Charan Singh

Presented by Deputy PM and Finance Minister Charan Singh. Highlight: It absorbed the effects of the states share of Union excise charges doubling from 20 to 40 per cent.

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1977-79

Presented by FM Hirubhai M. Patel. Emphasis laid on need for fundamental change in economic policies and programmes. The next budget presented less than a month after Janata Party came to power sought to defend the decision to demonetise Rs 1,000, Rs 5,000, & Rs 10,000 notes as of January 16, 1978, to curb illegal activities.

Hirubhai M. Patel

Presented by FM Hirubhai M. Patel. Emphasis laid on need for fundamental change in economic policies and programmes. The next budget presented less than a month after Janata Party came to power sought to defend the decision to demonetise Rs 1,000, Rs 5,000, & Rs 10,000 notes as of January 16, 1978, to curb illegal activities.

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1975-77

Presented by Finance Minister Chidambaram Subramaniam. Highlight: The revenue was estimated at Rs 10,521 crore and expenditure at Rs 10,768 crore, leaving a deficit of Rs 247 crore, which went up to Rs 490 in 1976-77.

Chidambaram Subramaniam

Presented by Finance Minister Chidambaram Subramaniam. Highlight: The revenue was estimated at Rs 10,521 crore and expenditure at Rs 10,768 crore, leaving a deficit of Rs 247 crore, which went up to Rs 490 in 1976-77.

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1971-75

Presented by FM Yashwantrao Chavan. A new tax regime came in 1974-75, with an extra 20% tax on airline tickets bought in rupees. Then came the 1973-74 Black Budget due to a Rs 550-cr fiscal deficit, with India going through acute financial crisis. In 1974-75, income tax system was restructured.

Yashwantrao Chavan.

Presented by FM Yashwantrao Chavan. A new tax regime came in 1974-75, with an extra 20% tax on airline tickets bought in rupees. Then came the 1973-74 Black Budget due to a Rs 550-cr fiscal deficit, with India going through acute financial crisis. In 1974-75, income tax system was restructured.

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1970-71

Presented by Prime Minister and Finance Minister Indira Gandhi. In the history of Independent India, this was the only budget presented by a woman (before Nirmala Sitharaman presented the Union Budget 2019-20).

Indira Gandhi

Presented by Prime Minister and Finance Minister Indira Gandhi. In the history of Independent India, this was the only budget presented by a woman (before Nirmala Sitharaman presented the Union Budget 2019-20).

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1967-70

Presented by Finance Minister Morarji R. Desai. Highlight: “Spouse Allowance” abolished in 1968-69 after taxpayers were found to be misusing the instrument. In 1969-70, the government announced the extension of tax holiday concession for new industrial undertakings and ships.

Morarji R. Desai

Presented by Finance Minister Morarji R. Desai. Highlight: “Spouse Allowance” abolished in 1968-69 after taxpayers were found to be misusing the instrument. In 1969-70, the government announced the extension of tax holiday concession for new industrial undertakings and ships.

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1966-67

Presented by Finance Minister Sachindra Chaudhuri. Highlight: The expenditure assigned under this budget was Rs 2,407 crore, and revenue was Rs 2,617 crore, accounting for a surplus of Rs 210 crore.

Sachindra Chaudhuri

Presented by Finance Minister Sachindra Chaudhuri. Highlight: The expenditure assigned under this budget was Rs 2,407 crore, and revenue was Rs 2,617 crore, accounting for a surplus of Rs 210 crore.

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1964-66

Presented by Finance Minister TT Krishnamachari. Highlight: Expenditure tax put in place under direct taxation tool levied on all expenditures above Rs 36,000 per annum. It was abolished in 1966-67 after backlash. The 1965-66 budget saw the launch of the Voluntary Disclosure Scheme for Unaccounted Wealth, the government's first attempt to combat tax evasion and black money.

TT Krishnamachari

Presented by Finance Minister TT Krishnamachari. Highlight: Expenditure tax put in place under direct taxation tool levied on all expenditures above Rs 36,000 per annum. It was abolished in 1966-67 after backlash. The 1965-66 budget saw the launch of the Voluntary Disclosure Scheme for Unaccounted Wealth, the government's first attempt to combat tax evasion and black money.

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1959-64

Presented by Finance Minister Morarji R. Desai. In 1960-61, the government released projections for PL480, an import agreement with the USA for food grains and other agricultural products worth Rs 122 crores. The Union Budget 1963-64 saw introduction of the super-profits tax imposed on wealthiest individuals and corporations, drawing harsh condemnation

Morarji R. Desai

Presented by Finance Minister Morarji R. Desai. In 1960-61, the government released projections for PL480, an import agreement with the USA for food grains and other agricultural products worth Rs 122 crores. The Union Budget 1963-64 saw introduction of the super-profits tax imposed on wealthiest individuals and corporations, drawing harsh condemnation

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1958-59

Presented by Prime Minister Jawaharlal Nehru. He introduced a new taxation instrument called the Gift Tax.

Jawaharlal Nehru

Presented by Prime Minister Jawaharlal Nehru. He introduced a new taxation instrument called the Gift Tax.

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1957-58

Presented by Finance Minister TT Krishnamachari. The government unveiled the Wealth Tax, a novel direct taxation tool.

TT Krishnamachari

Presented by Finance Minister TT Krishnamachari. The government unveiled the Wealth Tax, a novel direct taxation tool.

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1951-57

Presented by Finance Minister CD Deshmukh. In 1953-54, the minimum income tax exemption limit for individual taxpayers was raised by approximately 17% or up to Rs 4,200 from the previous Rs 3,600. In 1955-56, the government proposed different tax-exemption limits for married and unmarried individuals.

CD Deshmukh

Presented by Finance Minister CD Deshmukh. In 1953-54, the minimum income tax exemption limit for individual taxpayers was raised by approximately 17% or up to Rs 4,200 from the previous Rs 3,600. In 1955-56, the government proposed different tax-exemption limits for married and unmarried individuals.

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1949-51

Presented by Finance Minister Dr John Matthai. Highlight: Capital Gains Tax was abolished. It was later reinstated under the 1956-57 budget. In 1950-51, the government formally announced the setup of the Planning Commission, primarily headed by the Prime Minister.

John Matthai

Presented by Finance Minister Dr John Matthai. Highlight: Capital Gains Tax was abolished. It was later reinstated under the 1956-57 budget. In 1950-51, the government formally announced the setup of the Planning Commission, primarily headed by the Prime Minister.

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1947-49

Presented by the first Finance Minister of India, RK Shanmukham Chetty. The expenditure assigned for the first budget of independent India was Rs 197.39 crore, of which roughly Rs 92.74 crore(or 46 per cent) was allotted for defence services. Chetty used the term ‘Interim Budget’ for the first time.

RK Shanmukham Chetty

Presented by the first Finance Minister of India, RK Shanmukham Chetty. The expenditure assigned for the first budget of independent India was Rs 197.39 crore, of which roughly Rs 92.74 crore(or 46 per cent) was allotted for defence services. Chetty used the term ‘Interim Budget’ for the first time.

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FAQs

Union Budget 2026: How many times has Finance Minister Nirmala Sitharaman presented the budget?

This year’s Budget will be Finance Minister Nirmala Sitharaman’s ninth Budget in a row. She has presented seven budgets till now, including an interim Budget in 2024. Stay tuned for our full coverage!

Which Finance Minister of India presented the shortest Union Budget?

Former Finance Minster Hirubhai M. Patel presented the shortest Budget in 1977, which was just 800 words long.

Who presented the first Union Budget of independent India?

Independent India’s first Budget was presented by Finance Minister RK Shanmukham Chetty on 26 November 1947.

In what year was the railway Budget merged with the general Budget?

The Railway Budget was merged with the General Budget in Budget 2017–18. Up until 2016, the Railway Budget was presented separately every year.

Why is the 2026 Budget called a "Paperless Budget"?

Continuing the trend started in 2021, the 2026 Budget will be entirely digital. The Finance Minister will read the speech from a digital tablet, and all documents will be made available on the "Union Budget Mobile App" immediately after the speech.

Why is the Union Budget 2026 important for citizens and businesses?

The Union Budget 2026 impacts taxation, government spending, subsidies, infrastructure development, and welfare schemes, directly influencing individuals, businesses, and the overall economy.

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About

Welcome to the Budget page of ABP Live, your essential guide to understanding India's financial blueprint. In a nation as diverse and dynamic as India, the annual Union Budget isn't just a statement of financial intent, but a reflection of the country's evolving priorities, challenges, and aspirations. On our dedicated Budget page, we delve deep into the intricacies of India's financial planning, making complex economic policies accessible and understandable to everyone. Find a comprehensive coverage, analyses, historical context and regional insights.

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