FY27 Budget to Fast-Track Reforms: Deregulation, Decriminalisation Key Themes

• FY27 Budget will focus on deregulation and decriminalisation to boost economic growth, as per Finance Minister Nirmala Sitharaman's directives.
• Ministries are submitting proposals to simplify or eliminate outdated laws and procedures, with high-level reviews every 10 days.
• Amendments to Companies Act, 2013 and Insolvency and Bankruptcy Code (IBC) are planned for the budget session to enhance ease of doing business and debt resolution.
• The budget aims to be a roadmap for sustained economic expansion, with a broader push for sector-wide reforms to achieve 8% growth for developed-nation status by 2047.
• New GDP series with a revised base year (2022-23) will impact macroeconomic ratios like debt-to-GDP, which the Centre aims to reduce to 50% by FY31.

Why It Matters: FY27 Budget prioritizes deregulation, decriminalisation, and structural reforms for India's economic growth.