Budget 2026: Consumption, Fiscal Consolidation, Capex are Core Themes, says Ambit's Trilok Agarwal

• Trilok Agarwal of Ambit Asset Management identifies consumption boost, fiscal consolidation, and capex as core themes for the FY27 budget.
• He anticipates FY27 EPS growth in low double-digits, suggesting earnings normalisation rather than acceleration.
• Financials and consumption sectors are expected to show better growth in the next fiscal year.
• Agarwal does not foresee any changes to capital gains tax in the upcoming budget.
• Consumption growth in FY26-FY27 is projected due to GST rationalisation, income tax relief, improving rural demand, and urban employment.

Why It Matters: Ambit's Trilok Agarwal highlights consumption, fiscal consolidation, and capex as key pillars for Budget 2026.