India’s fiscal strategy is at a pivotal moment as the country prepares for the upcoming Union Budget, with policymakers balancing the dual imperatives of sustaining capex‑led growth and maintaining fiscal discipline. Over the past decade, capital expenditure has risen from roughly one‑fifth of the Union Budget to over 30% today, reflecting a structural shift toward long-term asset creation and productivity enhancement. Against this backdrop, the “Historical Budget Analysis & Future Outlook” report decodes how FY26 trends- such as softer tax buoyancy, strong non‑tax revenues, and stable execution- will shape the government’s approach for FY27, where a ~₹53.5 trillion budget, ~15% capex growth, and a fiscal deficit near 4.2% are expected to anchor India’s next phase of growth.
What you can expect from this report:
- How India’s budget has structurally shifted toward capex over the past decade.
- Key ministry‑wise allocation patterns and long‑term spending priorities.
- Infrastructure‑led capex: roads, railways, defence, and new‑age sectors.
- FY26 mid‑year performance: Receipts and Expenditure.
- Revised estimates for FY26 across taxes, non‑tax revenues, grants, and borrowing.
- FY27 projections: budget size, fiscal deficit, capex trajectory, and revenue outlook.