Prime Minister Narendra Modi’s government presented the 2026-27 budget, aiming to sustain economic growth amid global market volatility and trade uncertainty. Finance Minister Nirmala Sitharaman highlighted investment in infrastructure, domestic manufacturing, and fiscal prudence.
Key developments:
• Economic growth forecast: 6.8–7.2% in FY 2026-27, driven by domestic consumption.
• Fiscal targets: deficit aimed at 4.3% of GDP, down from 4.4%.
• Capital expenditure: ₹12.2 trillion ($133bn), focused on infrastructure.
• Strategic sectors: biopharma, semiconductors, electronics, rare earths; three chemical parks to reduce import dependency.
• Financial market reforms: corporate bond market strengthening and foreign investment facilitation.
• Transport and sustainability: seven high-speed rail corridors, new freight corridors, 20 waterways, and eco-tourism trails.
The budget avoids populist giveaways, emphasising structural reforms and long-term resilience.
ℹ️ AP News
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