RBI Praises Union Budget 2026-27: Fiscal Discipline, Growth, and Innovation

• RBI states Union Budget 2026-27 reaffirms government's commitment to fiscal discipline and economic growth.
• Budget allocates resources for infrastructure, domestic technology, and workforce development.
• Gross fiscal deficit budgeted to decline to 4.3% of GDP in 2026-27 from 4.4% in 2025-26 (RE).
• Capital expenditure remains a cornerstone, with ₹12.2 lakh crore (3.1% of GDP) earmarked.
• Gross tax revenue projected to increase by 8% in 2026-27, driven by income tax and union excise duties.