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Government borrowing is increasingly financing capital expenditure, boosting economic growth potential as effective capital spending surpasses the fiscal deficit. Conservative tax revenue growth, alongside non-tax receipts and asset sales, provides a cushion. While revenue spending is managed, a slight increase in the budget size is observed, with a focus on easing the debt burden towards targets.
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India's Union Budget 2026-27 introduces a comprehensive customs overhaul, featuring duty relief for manufacturing and exports, and a single digital window for faster clearances. Measures aim to boost competitiveness in sectors like textiles and footwear, while rationalizing duties on strategic imports to enhance market access with the US.
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India is significantly boosting its weather forecasting. Finance Minister Nirmala Sitharaman has allocated Rs 1,342 crore for Mission Mausam. This ambitious initiative will use advanced technologies and computing to improve weather monitoring and prediction. The Ministry of Earth Sciences receives a total of Rs 3,789.23 crore. The Deep Ocean Mission also receives funding for exploration and technology development.
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News and Media
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