Union Budget 2026–27: Growth with Fiscal Prudence at the Core
The budget presented on 1 February 2026 by FM Nirmala Sitharaman lays out a clear choice: spend more where it creates long-term capacity (roads, rail, semiconductors, data centers, and health) while narrowing the gap between receipts and spending gradually. Total government spending for 2026–27 is projected to be about ₹53.47 lakh crore, and the fiscal deficit target is set at 4.3% of GDP, a small improvement compared with the revised estimate for 2025–26. At the center of the plan is a record capital expenditure of roughly ₹12.2 lakh crore—the biggest single driver of the budget—intended to boost jobs and private investment by improving infrastructure and supply chains. These headline numbers and the main documents are officially published by the finance ministry and independent budget analysts, and they show the same broad direction. One of the strongest points of this budget is its focus on manufacturing and high-technology value chains. The government has doubled down ...