Part B of the budget is limited to only tax changes, direct-indirect tax proposals and some policy announcements. (file photo)
Digital Desk, New Delhi. This time, the country's Finance Minister Nirmala Sitharaman (Nirmala Sitharaman long term economic vision) is going to break a big tradition by presenting the Union Budget. There is a change in the 75 year old system that has been in place since independence.
According to NDTV report, in Part B of the budget speech (Union Budget Part B historic shift), now only taxes and minor policies will not be mentioned, but the complete picture of India's economic future will be presented. This step is being considered very important for economists and markets, because it will clearly show the country's short-term and long-term economic strategy.
Earlier in the budget speech, Part A contained major announcements such as development plans, infrastructure and major targets. Whereas Part B was limited only to tax changes, direct-indirect tax proposals and some policy announcements. But this time everything is going to be opposite.
Part B will focus on short term priorities as well as long term goals. As India enters the second phase of the 21st century, its local strengths and global ambitions will be highlighted.
Big change in budget speech?
This change is special because economists and investors will now keep an eye not just on tax relief or new rates, but on the entire economic roadmap. According to the report, India's current capabilities, domestic strengths and future possibilities will be mentioned in detail in Part B.
This step will show the government's thinking on how India can play a strong role on the global stage. There is a lot of enthusiasm about this change in the markets, because it will clarify the direction of the economy.
Nirmala Sitharaman is presenting the budget for the 9th consecutive time. While presenting his first budget in 2019, he broke the old tradition. Instead of the leather briefcase that had been in use for decades, he used a traditional ledger wrapped in red cloth. For the last four years, the budget has been completely paperless, that is, it is presented on a tablet. This time also the same method will continue.
What is this year's capital expenditure?
The government has achieved the target of less than 4.5 percent of GDP deficit in fiscal 2026 (India fiscal discipline and growth). Now the market is eyeing the direction of reducing debt-to-GDP for fiscal 2027. It will be important to see whether the government will give clear fiscal deficit numbers for the next financial year.
The capital expenditure (capex) budget for this financial year was kept at Rs 11.2 lakh crore. The private sector is cautious now, so the government will continue to focus on capex. It is expected that there will be an increase of 10 to 15 percent in the capex target in the new budget. This will strengthen the infrastructure and boost the economy.
Also keep an eye on GDP growth, inflation and major schemes
The budget will outline nominal GDP growth estimates for fiscal 2027. This will tell the direction of inflation in the coming times. According to several estimates, the government may project nominal GDP growth between 10.5 to 11 percent.
Apart from this, everyone will also keep an eye on the expenditure on major schemes like PM Gram Sadak Yojana (GRAMG), allocation for health and education sectors. The government will try to balance rural and urban development by increasing investment in these sectors.
Also read: Budget 2026: Finance Minister Nirmala Sitharaman will present the budget today, emphasis will be on strengthening manufacturing-domestic demand.
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