Budget 2026

Finance Minister Nirmala Sitharaman used the Budget to sharpen the government’s push for India’s small businesses, announcing a mix of fresh funding, cluster revival, and tighter credit linkages aimed at strengthening the MSME backbone.

As India heads into Union Budget 2026, expectations across markets and industry remain restrained. After several years of elevated pandemic-era spending, the government is firmly back on a fiscal consolidation path, narrowing the deficit from over 9 per cent of GDP in FY21 to 5.6 per cent in FY24, 5.1 per cent in FY25 (RE), and a budgeted 4.9 per cent in FY26. 

From GST relief and outcome-linked funding to skilling and responsible AI adoption, edtech leaders outline their expectations from Budget 2026.

Budget 2025 reinforced a capital-led growth rulebook, prioritised public capex, manufacturing-linked incentives, and long-term innovation financing. This was supposed to act as a lever to rope in private investment rather than relying on broad fiscal stimulus.