Roadmaps can be brought for reforms in the states and their reforms can be linked to incentives.
Jagran Bureau, New Delhi. Amid global challenges, the government's emphasis in the budget to be presented on Sunday may be on increasing manufacturing and domestic demand. These measures seem to be most effective in increasing the growth rate. Increasing manufacturing will reduce imports and will also provide an opportunity to increase exports. However, in the current global situation, increasing exports in the coming financial year seems a bit challenging.
Finance Minister Nirmala Sitharaman will present her ninth budget in the Lok Sabha at 11 am for the upcoming financial year 2026-27, in which measures related to improving urban facilities and health services may also be announced. States may be suggested to make their own revenue models to make local bodies financially self-reliant. The Finance Minister can make an announcement to increase the productivity of farmers and encourage them to grow commercial crops.
No relief in income tax
Due to relief in income tax and GST, the growth rate of tax revenue in the current financial year 2025-26 is less as compared to the previous financial year, hence the chances of the government giving any kind of relief in income tax this year are very less. The government will also continue the subsidy of about Rs 4.5 lakh crore given under food, fertilizer and MNREGA. Therefore, to raise revenue, the government can also make announcements in the budget on the front of asset monetization and disinvestment.
Roadmaps can be brought for reforms in the states and their reforms can be linked to incentives. Announcements are also possible in the budget to make construction of affordable housing and their purchase easier. Like the last four-five budgets, an increase in allocation for capital expenditure can be seen in the budget of the upcoming financial year. Capital expenditure is allocated for the development of infrastructure. There are many benefits from this.
Blessings will shower on election states
Employment is created and production costs reduce. Demand increases when employment is created. The latest sector industries like semiconductor, Artificial Intelligence (AI) cannot be ignored in the budget.
Once again, there is a need for research and development. Apart from all this, there are elections this year in states like West Bengal, Assam, Tamil Nadu and like Bihar last year, there may be some gift in the budget for these states too. In the coming financial year, as per its old promise, the government would like to further reduce the fiscal deficit from the target of 4.4 percent of GDP in the current financial year.
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