The Economic Times

The budget manages to deliver significant growth stimulus through targeted expenditure. Revenue expenditure growth is budgeted at 6.7% in FY27, moderating from 7.2% in FY26 revised estimates. By holding revenue expenditure growth down, GoI creates the fiscal headroom to push capex higher without breaching deficit targets. This approach of maintaining high capex while reducing the fiscal deficit demonstrates GoI's strategy of maximising growth multiplier effect of public spending.

Anachronistic statistical methods continue to obscure estimates of real GDP growth, while slowing nominal growth and 25 mths of falling core inflation (excluding gold) signal persistent, and possibly widening, excess capacity. Policymakers have responded by rationalising GST, implementing new labour codes and creating the framework for deregulation. While these reforms mark progress, their scale seems modest when set against the entrenched challenges faced by private consumption and investment.

India's new budget prioritizes long-term growth through investment in people. It emphasizes skills, education, and healthcare to boost productivity. Initiatives in biopharma manufacturing and clinical research aim to make India a global supplier. This approach builds a stronger economy and empowers citizens. The budget signals confidence in India's people to create value.

Government expenditure as a percentage of GDP has remained largely stagnant, hovering around 2016 levels despite a pandemic surge. This is driven by flat revenue receipts, with individuals now bearing a higher tax burden than corporations. While there are efforts to simplify taxation and offer tax holidays, the budget lacks a coherent strategy for growth, employment, and productivity.

India's 2026-27 budget reflects a bold stride towards economic robustness and equitable development. Focused on fostering domestic growth and self-reliance, it includes substantial investments in crucial sectors pivotal for the economy. The vision for urban evolution through City Economic Regions promises better infrastructure and opportunities for residents.

With a young and expanding workforce, India stands at a rare moment of opportunity. From 2017-18 to 2023-24, nearly 17 cr jobs have been added, reflecting robust employment generation. And yet, as Periodic Labour Force Survey (PLFS) data reveal, there is a vast scope for expanding the labour force by raising India's female labour force participation rate (FLFPR).

India's financial plan prioritizes stimulating internal consumption by increasing investments and strengthening export efficiency. It seeks to fortify supply chain durability and expedite necessary reforms. Although strategic in nature, the reform initiatives primarily focus on established processes.

The push for making India a bigger biopharmaceutical innovator and manufacturer, with emphasis on emerging disease patterns, as well as support for the beleaguered textiles industry are part of the 'Make in India' architecture. From toys and limited sporting equipment - Walmart now sources sports bicycles from India -the budget shows ambition to incubate a modern sports manufacturing industry.

Kalamkaval, a Malayalam film, draws inspiration from a real-life serial killer. The movie focuses heavily on its male lead, Mammootty. This approach neglects the victims' stories and the societal pressures they faced. In contrast, the Hindi series Dahaad explored these elements with depth. Kalamkaval offers a stylish showcase for Mammootty but lacks the insightful commentary of its counterpart.

The landscape of Indian publishing is evolving, with non-fiction sales experiencing a remarkable increase. Fiction, once the reigning genre, appears to be losing its foothold as readers gravitate towards narratives that spark critical thought. The once-celebrated literary fiction has seen a dip in relevance, with many current novels lacking the depth that stimulates meaningful discourse.

From loud sloganeering to queue-jumping and selfie supremacy, the column skewers how normalised bad behaviour at home fuels the Ugly Indian abroadand why it shocks us only when it embarrasses us overseas.

Being attracted to Western-themed goods and experiences can go to absurd lengths, but to truly make 'Mera Bharat Mahan', desi products and services should be winners purely on merit.

A routine voter-list verification over a logical discrepancy in a surname opens up a larger, deeply Indian paradox: names that refuse to conform. From colonial-era spellings to caste markers, numerology, regional conventions and generational shifts, Indian surnames have evolved in wildly inconsistent ways.

Every year, Indian business leaders become instant economic experts for a short period. They offer praise for the Union Budget, regardless of its content. This public optimism is a strategy for managing expectations and ensuring stability. Behind closed doors, a more nuanced discussion occurs. The budget speech sets a positive tone for the nation.

At the centre of BSNL's revival is its indigenous 4G stack - a strategic gamble that placed India among a handful of countries capable of providing end-to-end telecom technology. After years of delay and scepticism, BSNL has now deployed nearly 98,000 4G towers, with a software-upgradable path to 5G. This transition reduces dependence on foreign vendors, enhancing security and resilience in an increasingly fragmented global tech landscape.

Union Budget: India's economic growth faces hurdles from excessive regulations. The upcoming budget needs to prioritise regulatory reform over spending. This involves governing regulators effectively, not just large companies. Policy should encourage firms to grow without fear of regulatory penalties.

Reward domestic manufacturing Extending domestic value addition mandates under the Approved List of Models and Manufacturers (ALMM) and PLI schemes across solar, wind, batteries, EV components, hydrogen and transmission equipment, with a phased path to 50% by 2029, would provide manufacturers with the certainty needed to invest at scale.

India's economic resilience, transitioning from stability to strength, is built on steady policy work, moderate inflation, and fiscal consolidation. The nation is now focusing on structural reforms to build manufacturing and export competitiveness, aiming for strategic indispensability in a fragmented global landscape.

Cities are tapping into carbon credits to strengthen their budgets, with Indore leading the charge by profiting from sustainable ventures such as waste recycling and solar power initiatives. Indias new Carbon Credit Trading Scheme is unlocking potential for cities to profit from reducing emissions. This revenue stream is pivotal for urban areas striving for financial stability.

Budget expectations: India's salaried middle class is growing significantly. This expansion is reshaping consumption patterns and boosting financial investments. A larger group of taxpayers now has a stake in economic stability. This growing segment will influence policy debates and electoral outcomes. Their focus is on economic growth and improved living standards.

India's tax revenue growth has slowed significantly in FY26. This creates a challenge for the government balancing economic support and fiscal responsibility. Lower inflation and tax relief contributed to this shortfall. A weakening financial cycle also appears to be impacting tax collections. This trend may continue into FY27, requiring conservative tax forecasts and a strong signal of fiscal discipline.

Indias landmark FTA with the EU takes trade to a new scale, boosting exports, jobs and MSMEs while aligning growth with clean energy, resilient supply chains and deeper global integration.

MGNREGA is not a dole but a dignity-based right to work that strengthens rural incomes, womens participation and local assets. Proposed reforms risk weakening its legal guarantee, decentralised planning and support for poorer states.

India and the European Union have successfully concluded Free Trade Agreement negotiations. This landmark deal, initiated in 2007, marks a significant commercial and strategic step. The agreement aims to strengthen trade flows between the two entities. It will reduce barriers for Indian businesses entering the EU market. European firms will gain access to India's growing economy.

India's democracy faces challenges as politicians often prioritize personal gain over public interest. However, the nation's constitution, crafted by unelected individuals, established vital independent institutions. These bodies, like the Supreme Court and armed forces, command public respect. They provide essential checks and balances, safeguarding minority rights and ensuring a robust democratic framework beyond mere elections.