This is one of the milestones in the career of Finance Minister Nirmala Sitharaman, who will deliver the Union Budget on Sunday, February 1, during the 202627 financial year. This is her ninth consecutive full budget plus one interim budget, and thus, she is among the longest-serving finance ministers to give successive budgets. The Union Budget will project the estimated revenues and expenditure of the Centre in the next year and will be an important feed to the medium and long-term economic plan of India. The BJP-led government has repeatedly indicated that the budgetary road map is in line with its vision of Indian becoming a developed country by 2047 as part of the Viksit Bharat vision.
The budget is coming forth a time when India is one of the fastest growing major economies of the world. But policymakers are operating in a very complicated global and domestic landscape. The geopolitical tensions have made international trade more uncertain, which has been worsened by tariff-related actions instituted by US President Donald Trump. These are the global headwinds which can put pressure on the future of India’s exports and the stability of the economy.
Fiscal consolidation is also a priority on the national front. The government has made an effort to ensure that the fiscal deficit is less than 4.5 per cent of gross domestic product (GDP), and this requires a close balance between expenditure and revenue generation. The Centre has greatly increased capital expenditure over the past few budgets, especially in infrastructure enterprises, to increase growth and employment. Capex increased drastically in the 2025 Budget, and economists are carefully observing whether the trend will continue in 2026.
It is also the expectation of the industry bodies. In pre-budget consultations, organisations like the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) compelled the government to focus on infrastructure investment in its priority list.
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