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Finance Minister Nirmala Sitharaman began presenting the Union Budget, making history as the first to deliver nine consecutive Budgets, a record even as P Chidambaram presented nine but not in succession. The speech comes at a delicate moment for the economy, with India’s recovery uneven, manufacturing momentum tentative, and global headwinds intensifying. Expectations are elevated as policymakers look to cushion the impact of renewed trade friction and potential tariff actions under US President Donald Trump. The Finance Minister faces a tightrope walk, balancing revenue pressures against the need to support domestic demand without unsettling fiscal math or markets. Investors and policymakers will be watching closely for signals on capital spending, tax policy, and borrowing assumptions, as the Budget sets the tone for navigating a more hostile global environment while keeping India’s growth engine on track.

BasisPoint Insight

Columnists

Michael Debabrata Patra

Michael Patra is an economist and former RBI Deputy Governor.

TK Arun

Arun is a seasoned writer on economic and policy matters.

Abheek Barua

Abheek is an Independent Economist and the Former Chief Economist at HDFC Bank.

Ajay Srivastava

Ajay Srivastava is the founder of the Global Trade Research Initiative.

Vijay Chauhan

Vijay Singh Chauhan, a former IRS official, is a Senior Visiting Fellow at ICPP, Ashoka University

Dhananjay Sinha

Dhananjay, a D-School alum, is CEO and Co-Head of Equities at Systematix Group.

Kirti Tarang Pande

Kriti is a psychologist specialising in mental health, org behaviour, and brand strategy

Srinath Sridharan

Srinath is an author, corporate advisor, and independent director on corporate boards.

Sharmila Chavaly

Ex-civil servant Chavaly held key Railways, Finance roles; specialises in infra & PPPs

Nilanjan Banik

Nilanjan Banik, Professor at Mahindra University, specialises in trade and development economics.

Sachin Malhotra

Sachin was till recently an MD with Standard Chartered Bank.

Rajesh Mahapatra

Rajesh Mahapatra is the former Editor of The Press Trust of India

Krishnadevan V

Krishnadevan is Editorial Director at BasisPoint Insight.

Dev Chandrasekhar

Chandra advises companies on big-picture narratives on strategy and markets.

Kalyan Ram

Kalyan Ram co-founded Cogencis. He now leads BasisPoint Insight.

R. Gurumurthy

Gurumurthy is an ex-central banker who handled markets, and later, financial stability for RBI.

Lt Gen Syed Ata Hasnain (Retd)

Lt Gen Syed Ata Hasnain is a former Commander of India’s Kashmir Corps.

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