03
Feb
The Union Budget 2026 has reaffirmed the government’s focus on fiscal consolidation, though a sharper-than-expected rise in gross borrowing could dampen market sentiment, according to Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank. Commenting on the Budget, Bhardwaj said the fiscal deficit target for FY27 has been pegged at 4.3 per cent, a level that broadly aligns with market and institutional expectations. Net market borrowing has also been kept in line with projections, underscoring the government’s intent to stay on a calibrated path of fiscal discipline. “The government has continued to focus on fiscal consolidation. The FY27 fiscal deficit at…
