New Delhi, Feb 1 (IANS) Senior Congress leader and former Finance Minister P. Chidambaram issued a scathing critique of the Union Budget 2026-27 presented by Finance Minister Nirmala Sitharaman on Sunday, declaring that it “failed the test of economic strategy and economic statesmanship”. In a detailed statement, Chidambaram expressed astonishment at the budget speech, arguing that it disregarded the major challenges highlighted in the Economic Survey 2025-26 and relied instead on a barrage of a…
Latest fiscal deficit News & Updates
New Delhi, Feb 1 (IANS) The Confederation of Indian Industry (CII) on Sunday said the Union Budget 2026-27, with its next‑generation reforms, builds confidence, and its thrust on public capital expenditure will enhance private investment.CII welcomed the continued focus on fiscal prudence, noting that the fiscal deficit target of 4.3 per cent of GDP for FY27 reinforces confidence in India’s macroeconomic management.”There is broad recognition on fiscal discipline, including adherence to the …
New Delhi, Feb 1 (IANS) The Union Budget for 2026-27 provides an allocation of Rs 1.4 lakh crore to the states as Finance Commission Grants based on a 41 per cent share of the devolution.Presenting the Union Budget 2026-27 in Parliament on Sunday, Finance Minister Nirmala Sitharaman said: “The government has accepted the recommendation of the Commission to retain the vertical share of devolution at 41 per cent. As recommended by the Commission, I have provided Rs 1.4 lakh crore to the States for…
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman on Sunday said that the debt-to-GDP ratio is estimated to be 55.6 per cent of GDP in 2026-27 (budget estimate or BE), compared to 56.1 per cent of GDP in 2025-26 (revised estimate or RE).A declining debt-to-GDP ratio will gradually free up resources for priority sector expenditure by reducing the outgo on interest payments.”Government has been delivering on fiscal commitments consistently without compromising on social needs,” FM Sithar…
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman on Sunday projected a further reduction in the fiscal deficit to 4.3 per cent of GDP for 2026-27 as the government continues on the path of fiscal consolidation to ensure economic growth with stability.Presenting the Budget 2026-27, she said that the government had fulfilled its commitment to reduce the fiscal deficit to 4.4 per cent in the Budget for 2025-26 and would now reduce it further to 4.3 per cent as it continues on the fiscal …
New Delhi, Feb 1 (IANS) As Union Finance Minister Nirmala Sitharaman is set to present the Union Budget 2026–27 in Parliament on Sunday, residents of Delhi shared their expectations, saying that sectors such as education and railways should be given priority, with increased budgetary allocations to address public needs. Speaking to IANS, several residents expressed hope that the upcoming Budget would focus on easing the financial burden on common people.Anil, a Delhi resident, said, “The Budge…
New Delhi, Feb 1 (IANS) As Finance Minister Nirmala Sitharaman is set to present the Union Budget 2026-27 in Parliament on Sunday, the BJP hails it as a historic day, while Congress calls for a focus on ground-level realities.Reacting to the upcoming Budget, Deputy Chief Minister of Chhattisgarh, Arun Sao said, “Today is a very auspicious and historic day. This budget will serve as the foundation for a Viksit Bharat by 2047. It will be a budget aimed at moving forward with the principle of ‘…
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman will present the Union Budget for 2026–27, marking a historic moment as it is being delivered on a Sunday for the first time in independent India’s history. This will be her ninth consecutive Budget, making her the first woman finance minister to achieve this feat, and the 15th Budget of the Narendra Modi-led government. It is also the second full Budget since the National Democratic Alliance (NDA) returned to power for a third stra…
New Delhi, Jan 31 (IANS) As Finance Minister Nirmala Sitharaman gears up to table the Union Budget 2026-27 in Parliament on February 1, economists say the emphasis this year will be on defence, infrastructure, capex, power, and higher growth in affordable housing, apart from balancing social welfare with fiscal prudence.Besides, policymakers will also balance growth priorities with fiscal discipline amid heightened global uncertainty.The Budget is likely to strike a deft balance of sustaining gr…
New Delhi, Jan 30 (IANS) India’s fiscal deficit for the first nine months (April-December) of the financial year 2025-26 stood at Rs 8.55 lakh crore, which works out to 54.5 per cent of the annual target set in the Budget for the full financial year, according to data released by the Finance Ministry on Friday.The fiscal deficit is lower than the corresponding figure of 56.7 per cent recorded in the same period of the previous year.Total receipts during the first nine months of the current finan…