Union Budget 2026–27: A Research Perspective on Fiscal and Development Policies

The Union Budget 2026–27 presents a growth-oriented yet fiscally disciplined roadmap aligned with the vision of Viksit Bharat. It emphasizes sustained economic expansion, structural reforms, domestic manufacturing, technological advancement, and inclusive welfare. With a strong push toward public capital expenditure, financial sector resilience, MSME empowerment, and energy security, the budget balances development with macroeconomic stability. Fiscal consolidation remains a priority, targeting a fiscal deficit of 4.3% of GDP while maintaining a debt path toward 50% of GDP by 2030. Simultaneously, the budget strengthens social infrastructure through investments in healthcare, education, skill development, and support systems for vulnerable populations. Overall, the budget reflects a strategic shift toward productivity-led growth, global competitiveness, and people-centric development.