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NMP 2.0 aims to strengthen the overall monetisation ecosystem and foster improved collaboration among stakeholders.
The Union government's hesitation to act on the 16th Finance Commission's recommendation is reportedly due to concerns about adversely affecting other 'friendly states' like Andhra Pradesh, which have significantly higher off-budget debts.
The Union Budget, presented by Finance Minister Nirmala Sitharaman, emphasizes fiscal prudence and macroeconomic stability by lowering fiscal deficit and debt-to-GDP targets, which critics argue has led to a restrained approach to growth. While government expenditure is set to increase modestly, falling short of the nominal GDP growth ambition, the budget prioritizes supporting MSMEs, deemed a crucial engine for employment and growth, and introduces measures to bolster India's digital infrastructure and attractiveness for global operations. The budget avoids overt populism, favoring increased allocations to existing schemes, and signals a preference for stability over market exuberance by increasing the Securities Transaction Tax on derivatives, though the omission of capital gains tax rationalization for debt instruments disappointed investors, suggesting a strategy of consolidation and continuity over the expansion of new entitlements, with future economic expansion dependent on a more proactive financial sector and potentially a greater acceptance of debt-funded growth, a path the current budget appears hesitant to fully embrace due to concerns over public debt levels.
The Union Finance Minister Nirmala Sitharaman's proposal of "turtle trails" along key coastal nesting sites in Kerala, Odisha, and Karnataka in the 2026-27 budget has unexpectedly sparked a widespread meme fest across Kerala.
Kerala Chief Minister Pinarayi Vijayan has written to Union Finance Minister Nirmala Sitharaman requesting a judicial inquiry into the January 30 death by suicide of C J Roy, head of the Confident Group, during an Income Tax department search.
The changes aim to make compliance easier, improve cash flows, and reduce procedural hurdles.
Overseas travel and education costs are reduced through lower tax collected at source (TCS) on tour packages and Liberalised Remittance Scheme (LRS) expenses
Kerala and most other states wanted the divisible tax pool (income tax and excise duties) to be shared 50-50 between the Union and states.
With 7 per cent GDP growth and around 3.5 per cent inflation, nominal GDP growth of around 10 per cent for FY27 is achievable, and this would be a significant improvement over the 8.1 per cent nominal GDP growth in FY26.
The Orange Economy in India, encompassing creative sectors like gaming, animation, and VFX, received significant attention in the Union Budget, highlighting its substantial economic and employment potential.
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