Piyush Goyal Expresses Confidence in the Upcoming 2026-27 Budget by Nirmala Sitharaman

Commerce and Industry Minister Piyush Goyal expressed optimism about the upcoming 2026-27 Budget. He praised the past Budgets delivered by Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, noting that this would be her ninth. "It will be a good Budget...I am very, very confident that it will be a very good Budget," he stated.

The Budget presentation is scheduled for February 1, marking a historic first as it falls on a Sunday. This fiscal plan will cover April 2026 to March 2027. The government aims to maintain growth momentum, uphold fiscal discipline, and introduce reforms to shield the economy from global trade tensions, including US tariffs.

Focus on MSMEs and Economic Challenges

When asked about support for MSMEs, Goyal highlighted the government's ongoing efforts to assist this sector through various programmes. He emphasised the importance of MSMEs in the economy. The government has been attentive to their needs, ensuring continuous support.

The FY27 Budget arrives amid complex challenges. Domestically, demand remains strong, and inflation has eased from recent peaks. However, global uncertainties persist due to geopolitical tensions, fluctuating commodity prices, and inconsistent monetary policies by major central banks.

Domestic Pressures and Global Uncertainties

Within India, there is pressure to boost consumption, create jobs, and increase capital spending while keeping the fiscal deficit in check. These domestic pressures add complexity to the economic landscape as the government navigates these challenges.

The global economic environment remains uncertain. Geopolitical tensions and volatile commodity prices contribute to an unpredictable outlook. Additionally, uneven monetary easing by major central banks adds another layer of complexity to economic planning.

As the government prepares for the upcoming Budget, balancing these domestic and international factors will be crucial. The aim is to sustain growth while addressing both internal demands and external uncertainties effectively.

With inputs from PTI