Page 2 - Fiscal Deficit

Budget 2026 raises FY27 capex 11.5% to ₹12 trillion, eyes infra growth

Union Budget 2026-27 raises capital expenditure to ₹12.2 trn, reinforcing the govt's infrastructure-led growth strategy, even as spending in the current fiscal is expected to fall short of estimates

Budget 2026: Industrial policy takes centre stage, deeper fixes pending

And bigger problems await from policy bottlenecks that the Budget has left untouched

Union Budget 2026-27: Govt borrowing challenge passed on to RBI

Budget FY27 signals deeper banking reforms, possible PSB consolidation and higher borrowing, shifting the onus to RBI to manage yields and liquidity

Budget may make India an investment-led and export-capable economy

The organising idea is clear: India is no longer trying to grow fast; it is trying to grow well

Budget 2026 conservative, focuses on fiscal stability: BofA Securities

BofA Securities said the modest fiscal consolidation rests on "very realistic" revenue and expenditure assumptions, adding to the credibility of the Ministry of Finance

Budget 2026: Onus of executing incremental capex shifting towards states

Aditi Nayar analyses the Budget's fiscal prudence, higher public capex via states, a 4.3 per cent deficit target, debt consolidation, and the impact of higher gross borrowings on bond yields

Budget 2026 'tactical', not a 'breakthrough', says Moody's Ratings

The economy is seen growing at 7.4 per cent in ‌the current financial year, with ​inflation likely to be near 2 per cent

Budget 2026 keeps fiscal discipline intact; bond market faces supply stress

The tough position that the bond market finds itself reflects a much more fundamental issue, of rising government bond supply chasing limited domestic savings pool

Budget 2026 aims to reduce fiscal deficit, boost capex and growth: PM Modi

PM Modi says Union Budget 2026 focuses on fiscal discipline, inflation control and high capital spending, while backing reforms, MSMEs and tourism to drive growth and achieving 'Viksit Bharat' goals

Budget 2026 delivers well on prudence and focuses on future thrust areas

Union Budget 2026 stays focused on fiscal prudence, targets a 4.3% deficit, sustains ₹12.2 trillion capex, and backs rare earths, freight corridors, waterways and data centres, writes Madan Sabnavis

Budget 2026: FM Sitharaman pegs fiscal deficit at 4.3% of GDP for FY27

FM Nirmala Sitharaman pegged FY27 fiscal deficit at 4.3% of GDP, signalling continued fiscal consolidation, with net tax receipts seen at ₹28.7 trillion and higher tax devolution to states

Budget 2026: What to expect on fiscal deficit, defence and infrastructure

The government is likely to aim for a fiscal deficit at 4.2 per cent of GDP for 2026-27, down from 4.4 per cent this fiscal year

Fiscal deficit in April-December kept at 54.5% of Budget Estimates

India contained its FY26 fiscal deficit at 54.5% of Budget Estimates for April-December, aided by higher non-tax revenues and controlled spending despite a December capex dip

Budget 2026 may focus on managing debt-to-GDP ratio over fiscal deficit

The upcoming Budget is going to put emphasis on easing the debt-to-GDP ratio, which is around 56 per cent, instead of targetting a specific fiscal deficit number as the country has almost reached the end of the glide path envisaged in the FRBM legislation. A fiscal deficit of 3-4 per cent is considered comfortable and a desirable target for a growing, developing economy like India, aiming to balance economic expansion with financial stability. Under the revised Fiscal Responsibility and Budget Management (FRBM) Act, the fiscal deficit target was below 4.5 per cent of GDP for 2025-26. Therefore, the union government announced a new glide path with the debt-to-GDP ratio as the fiscal anchor. So, the roadmap for the next six years was announced in the FRBM statement released on February 1, 2025. Finance Minister Nirmala Sitharaman, in her Budget speech in July 2024, had said, "The fiscal consolidation path announced by me in 2021 has served our economy very well, and we aim to reach

Budget 2026: Too many known unknowns amid push to revive private capex

Amid data and fiscal uncertainties, the govt faces the difficult task of creating conditions to boost private capex

Eco Survey highlights: Domestic demand in focus amid global uncertainties

India's economy is expected to grow 6.8-7.2% in 2026-27; exports, domestic demand and reforms support growth, while global trade tensions pose some risks

Economic Survey pegs India's real GDP growth at 6.8-7.2 per cent in FY27

India's economy is expected to grow 6.8-7.2% in 2026-27; exports, domestic demand and reforms support growth, while global trade tensions pose some risks

Budget 2026: SBI Research sees fiscal deficit at 4.2% amid global risks

SBI Research expects Budget 2026 to focus on fiscal discipline, managing rising debt, steady borrowing and higher capital spending amid global uncertainty and volatile markets

This Budget will see many firsts, but future Budgets need a different mould

Budget 2026-27 breaks new ground, but delayed GDP rebasing and continued fiscal secrecy risk undermining its numbers within weeks

What the Budget must present in a tough global and job environment

As the Union Budget nears, the focus must shift to debt, deficits, and borrowing from household savings, and how these choices affect private investment, manufacturing growth, and jobs