Budget 2026: No Major Tax Structure Changes Expected, India to Outperform Global Markets

• Rohit Sarin, Co-founder of Client Associates, anticipates no significant tax structure changes in Union Budget 2026, focusing on stability and continuity.
• Earnings growth is expected to recover gradually and unevenly, driven by increased consumption, private capital expenditure, and improved global growth.
• India is projected to outperform US and global markets in 2026 due to stable macroeconomic conditions, strong domestic demand, and reasonable valuations.
• The government's focus on fiscal consolidation and previous direct tax changes suggest no major tax reforms in the upcoming budget.
• The budget is likely to continue supporting economic activity through capital expenditure and shift towards reviving consumption-based demand via targeted measures.

Why It Matters: Budget 2026 will prioritize stability and consumption, with India poised to outperform global markets despite no major tax changes.