Union Budget 2026 lowers fiscal deficit target for FY27 to 4.3%; pace of consolidation slows
Finance Minister Nirmala Sitharaman announced in her Budget 2026-27 speech that the Centre's fiscal deficit will be set at 4.3% of Gross Domestic Product (GDP) for the financial year 2026-27, with a target debt-to-GDP ratio of 55.6%. This reduction is attributed to a decrease in the government's gross tax revenue ratios. Sitharaman also highlighted that this fiscal consolidation path will free up resources for priority sector expenditure by reducing interest payments. The Centre has budgeted a total expenditure of about ₹53.5 lakh crore, with capital expenditure growing to ₹12.2 lakh crore, which is 11.5% higher than the revised estimates for 2025-26.
1 FEB 2026
— The Hindu
The Finance Minister proposed a ₹1.30 lakh crore budget for agriculture in 2026-27, marking a 2.6% increase from the previous year.
— The Hindu
The Union Budget 2026 allocates increased funding to strengthen the fisheries and animal husbandry sectors through various schemes.
2 FEB 2026
— The Hindu
The Union Budget 2026-27, presented by Nirmala Sitharaman, focuses on technology-driven reforms and trade facilitation to enhance India's attractiveness as an investment destination.
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