Borrowing Without Bruising the Curve in 2026-27

Supply discipline, SDL restraint and liquidity calibration will determine whether ₹16 trillion sails smoothly or strains duration again.

Yield Scribe

March 2, 2026 at 3:27 AM IST

Finance Ministry

Why India’s Municipal Bonds Need Founding Rigour, Climate Reset

Budget incentives revive municipal bonds, but without restoring 2017 rigour and adding climate safeguards, cities risk fragile debt growth.

Sharmila Chavaly

February 25, 2026 at 7:22 AM IST

MCGM

Tax Relief for Investors but a New Compliance Puzzle for Companies

India’s Finance Bill 2026 restores capital gains taxation on share buybacks while adding a promoter levy, raising fresh compliance and litigation risks.

Sangeeta Jain

February 18, 2026 at 6:56 AM IST

Will Total Return Swaps Rescue India’s Corporate Bond Market?

RBI’s TRS framework promises synthetic liquidity in corporate bonds, but without deeper cash markets, derivatives may amplify fragility, not depth.

R. Gurumurthy

February 16, 2026 at 3:25 AM IST

iStock.com

Bond Market Mood Turns as Inflation Reset Cools Yields

Lower January core CPI numbers in the new series, reduced gross borrowing, and softer global yields pause the selloff, though heavy supply keeps the bears around.

Yield Scribe

February 16, 2026 at 2:22 AM IST

Government Addresses Borrowing Concerns with Fresh Bilateral Switches

BasisPoint Insight

February 13, 2026 at 11:00 AM IST

Budget 2026

Are Indian Cities Finally Being Taken Seriously?

The Budget signals a shift in urban policy, focusing on fiscal transfers, metro-scale planning, and stronger municipal capacity over headline-grabbing schemes.

Shilpashree Venkatesh

February 12, 2026 at 8:32 AM IST

iStock.com

Budget 2026

We Don’t Need No Data-Centre Coddling

Data-centre tax holidays represent oodles of government cash to favoured Indian businesses for little public benefit

TK Arun

February 10, 2026 at 6:28 AM IST

Istock.com

Budget 2026

The Governance Shift in India’s Buyback Tax

How new rates split the monolithic shareholder block into control and portfolio shareholders, reshaping corporate governance

Chandrika Soyantar

February 9, 2026 at 3:20 AM IST

iStock.com

MPC Review

Monetary Policy, Liquidity, and the Road Hereafter

Despite ample liquidity and 125-bps easing, monetary transmission stayed uneven. Bonds reflected supply fears, policy uncertainty, and muted demand.

Shubhada Rao, Vivek Kumar, and Yuvika Singhal

February 7, 2026 at 1:51 PM IST

Budget 2026

Building Boxes in a Storm

A Countercyclical Manufacturing Gambit: India bets ₹100 billion on container production amid global trade flux, eyeing niche value and logistics leverage over volume dominance.

Sharmila Chavaly

February 7, 2026 at 3:51 AM IST

iStock.com

PFC to Merge REC with Itself, exit PTC India to create mega power NBFC

BasisPoint Insight

February 6, 2026 at 3:41 PM IST

Budget 2026

A Quiet Budget Signal That Could Wake India’s Corporate Bond Market

A low-key Budget proposal on total return swaps could transform India’s corporate bond market if regulators align infrastructure, liquidity and risk appetite in time.

Karan Mehrishi

February 5, 2026 at 8:20 AM IST

Opinion

Grandfathered, Then Burned: Why the Government Must Lead the Tiger Appeal

India promised tax certainty through grandfathering. The Supreme Court's Tiger Global verdict undermines that. It’s the government that must restore credibility.

TK Arun

February 5, 2026 at 4:54 AM IST

iStock.com/naveen0301

MPC Review

RBI’s Easiest Decision May Be to Do Nothing

RBI likely to hold rates steady as growth holds firm and risks shift offshore

K. Srinivasa Rao

February 5, 2026 at 3:13 AM IST

Budget 2026

Budget as Trade Policy: A Practical Roadmap for Global Integration

The Budget links tax, customs, and services reforms to the India–EU FTA, showing how domestic policy is being reshaped to support long-term trade integration.

Students of Madras School of Economics, Chennai

February 4, 2026 at 3:41 PM IST

PIB

Budget 2026

Budget Promised Customs Overhaul, Delivered Repackaging

The Budget 2026 has delivered an extension of old reforms, reflecting a propensity for cautious and incremental change.

Reform Compass

February 4, 2026 at 2:48 PM IST

iStock.com

MPC Review

When Monetary Space is Spent Too Early

Markets are reacting less to fiscal arithmetic and more to a policy sequence that has left limited monetary room just as pressures build.

R. Gurumurthy

February 4, 2026 at 5:18 AM IST

Budget 2026

Incremental Ambition in an Age Demanding Structural Reset

Budget shows discipline and selective ambition, but sidesteps pricing reform, social protection and the federal reset India needs for resilience.

Arvind Mayaram

February 4, 2026 at 4:43 AM IST

PIB

Budget 2026

Budget for Industry: Control and Command

From microwave parts to shoe uppers, the Budget signals selective interventionism—favouring item-level tweaks over broad industrial reform.

Sharmila Kantha

February 2, 2026 at 11:56 AM IST

iStock.com

Budget 2026

Does the Market Reaction Mean the Budget Was a Big Disappointment?

Despite a sharp post-Budget market fall, the government stayed fiscally prudent, raised capex targets, and stuck to deficit goals—signals markets may soon reassess.

Chokkalingam G

February 2, 2026 at 5:07 AM IST

Amey Bane/iStockphoto.com

Budget 2026

Self-Interest, Sentiment, and the Fine Print

STT hike stole headlines, but Budget 2026’s real story lies in quiet reforms, capital focus, and a deeper push for trust-based execution and implementation tracking.

Vijay Chauhan

February 2, 2026 at 3:51 AM IST

PIB

Budget 2026

A Chain-Linked Budget

A continuity-driven Union Budget balances fiscal discipline with growth ambition, signalling policy stability while preparing the ground for private investment revival.

Yuvika Singhal

February 1, 2026 at 3:42 PM IST

iStock.com

Budget 2026

A Fiscally Prudent and Reform-Oriented Budget

A fiscally cautious Union Budget stays the reform course, prioritising capital spending and stability while laying foundations for medium-term growth.

N R Bhanumurthy

February 1, 2026 at 3:22 PM IST

PIB

Budget 2026

India Budget Not Much of a Surprise

A debt-led fiscal anchor, steady capex push and cautious tax math left Budget 2026-27 predictable, credible and largely devoid of surprises.

Madhavi Arora

February 1, 2026 at 1:43 PM IST

Budget 2026

Budget 2026–27: RBI Surplus, PSU financial Dividends Seen Tad Higher

BasisPoint Insight

February 1, 2026 at 11:02 AM IST

Budget 2026

What to Look for in India’s Defence Budget: Beyond Headline Numbers

As India finalises its defence expenditure as part of the annual Budget exercise, the real issue is not the size of the allocation but what it signals about preparedness for conflicts that may extend beyond short, controlled crises.

Lt Gen Syed Ata Hasnain (Retd)

January 31, 2026 at 8:56 AM IST

iStock.com/Pavliha

Budget 2026

Beyond the "Paracetamol" of PLI: How the Budget Can Rewrite India's Manufacturing Story

India needs structural reforms, not subsidies. This Budget must tackle energy, logistics, credit and the rupee to revive manufacturing.

Ajay Shankar

January 30, 2026 at 8:51 AM IST

stock

Market Wrap

Economic Survey Lifts Equities, but Rupee Weakness Caps Gain

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

January 29, 2026 at 11:34 AM IST

iStocks/AlexLMX

Budget 2026

Why Govt Should Hike Customs Duty on Gold, Vegetable Oils

India’s surging gold and edible oil imports are widening the trade deficit, pressuring the rupee and hurting farmers, making a strong case for restoring higher import duties.

G. Chandrashekhar

January 29, 2026 at 7:04 AM IST

iStock.com/D. Talukdar

Budget 2026

India’s Green Bond Story: Why the Budget Matters More Than Ever

India’s green bond market is testing pricing limits. With demand proving fragile, the Budget’s role in creating incentives and deepening investor participation will determine whether green finance scales beyond symbolism.

Venkatakrishnan Srinivasan

January 28, 2026 at 9:42 AM IST

iStock.com

Budget 2026

A Tightrope Walk Between Political Compulsions and Economic Imperatives

Budget 2026 walks a tightrope between election-year pressures and economic discipline, juggling jobs, rural distress and middle-class relief without undermining fiscal credibility.

Amitabh Tiwari

January 28, 2026 at 8:59 AM IST

@narendramodi

Budget 2026

Why Carbon Markets Are Failing the World’s Farmers and What Budget Can Do About It

Despite rapid growth, carbon markets exclude smallholder farmers by design. Budget 2026 can fix this by funding public MRV, institutional aggregation, and risk sharing.

Arvind Mayaram

January 28, 2026 at 5:59 AM IST

iStock.com

Budget 2026

Time for an Economic Reset

As India prepares Budget 2026, the focus shifts to fiscal discipline, debt anchoring, federal realignment, and trade reform to reset growth on a sustainable path.

Shubhada Rao, Vivek Kumar, and Yuvika Singhal

January 28, 2026 at 5:50 AM IST

Finance Ministry

Budget 2026

When Governments Choose What’s Safest to Defend

Governments favour policies that can be measured and defended over commitments that demand belief. Visibility beats credibility when political risk outweighs growth ambition.

Kirti Tarang Pande

January 24, 2026 at 8:06 AM IST

Finance Ministry

Opinion

The Budget Through a Political Lens

With key elections due in states considered difficult terrain for the ruling BJP, the Budget could double as a political opportunity.

Rajesh Ramachandran

January 23, 2026 at 12:15 PM IST

@narendramodi

Budget 2026

Transforming India's Grid for a Renewable Future

India’s renewable push is running ahead of grid readiness. As variability strains stability, the Budget must pivot from capacity addition to firm power, storage and grid modernisation to secure reliable, clean energy growth.

Sharmila Chavaly

January 23, 2026 at 10:14 AM IST

iStock.com

Budget 2026

Why the Budget Should Support Development Goals

Beyond headline numbers, this Budget must align fiscal discipline with productivity, inclusion and institutional reform to sustain growth and realise Viksit Bharat.

Ashima Goyal

January 23, 2026 at 6:04 AM IST

iStock.com

Budget 2026

Elusive Investments, Silent Disinvestments: Budget's Real Test

India’s growth narrative is being propped up by public spending while private investment and disinvestment quietly retreat. Budget 2026 must choose political courage over fiscal politeness if the demographic dividend is to be saved.

Srinath Sridharan

January 23, 2026 at 5:57 AM IST

PIB

Budget 2026

Budget Must Treat Critical Minerals as Economic and Security Assets

India’s growth and security now depend on critical minerals. This Budget must move past intent and set out how the country plans to secure supply.

G. Chandrashekhar

January 23, 2026 at 5:01 AM IST

istock.com

Budget 2026

Will the Budget Truly Reignite Industry Confidence?

As policy signals increasingly emerge outside the Budget, industry awaits clarity on investment, manufacturing, exports and long-term growth.

Sharmila Kantha

January 22, 2026 at 2:18 PM IST

istock.com

Budget 2026

PSB Mergers: Bigger Balance Sheets, But Not Quite Better Banks

India’s PSB mergers created scale and stability, but five years on, credit growth, competition, and inclusion suggest consolidation alone cannot deliver global champions.

K. Srinivasa Rao

January 22, 2026 at 7:07 AM IST

iStock.com/lakshmiprasad S

Budget 2026

From Fiscal Arithmetic to Economic Statecraft

The Budget must move beyond fiscal math to economic statecraft, strengthening institutions to manage volatility, competitiveness, climate transition and social risk.

Arvind Mayaram

January 22, 2026 at 3:17 AM IST

iStock.com

Budget 2026

Budget Must Rescue Indian Agriculture From Drift and Denial

India’s farm crisis needs more than MSPs and subsidies. Budget 2026 must pivot to outcomes, technology and accountability, or risk surrendering food security and farmer incomes.

G. Chandrashekhar

January 21, 2026 at 12:09 PM IST

iStock.com

Budget 2026

How Federal Drift Is Starving Strategic Priorities

As the Centre expands into state subjects, defence, R&D and strategic autonomy suffer. India’s budget problem is not size, but misplaced priorities.

TK Arun

January 21, 2026 at 8:15 AM IST

iStock.com

Budget 2026

AMFI Pushes Separate ELSS Tax Breaks and Long-Term Equity Relief

AMFI has urged the government to introduce a separate tax deduction for ELSS under the new regime and rationalise long-term capital gains taxation on equities, arguing the measures would deepen retail participation and encourage longer-term household savings.

BasisPoint Insight

January 20, 2026 at 12:47 PM IST

Mutual Funds Sahi Hai Campaign

Budget 2026

Why the Budget Must Focus on the Next Mile

As fiscal stimulus tapers, the government must shift focus from headline growth to private investment, jobs and long-term economic quality.

Vijay Chauhan

January 20, 2026 at 6:06 AM IST

PIB

Budget 2026

Union Budget as the Catalyst for Climate Finance

By using guarantees, blended finance and smarter risk metrics, public money could crowd in private capital and turn climate ambition into bankable projects.

Sharmila Chavaly

January 19, 2026 at 7:31 AM IST

iStock.com

Budget 2026

A Budget for Capital Formation, Not Just Fiscal Bookkeeping

India’s real budget challenge isn’t deficit maths but mobilising patient capital, deep savings and long-term risk-taking in a capital-scarce economy.

R. Gurumurthy

January 19, 2026 at 6:42 AM IST

iStock.com

Budget 2026

Budget’s Bond Test Lies in Solving the States’ Borrowing Problem

With ₹30.5 trillion of bond supply looming, would it make more sense for the federal government to borrow on behalf of states?

Yield Scribe

January 17, 2026 at 8:26 AM IST

istock

Budget 2026

Why India’s Cities Are Failing the Growth Story

India’s growth has turned decisively urban, but the financial foundations of its cities remain weak. Unless municipal finance, land monetisation and city-level balance sheets are fixed, urban India will become the binding constraint in the next phase of growth.

Srinath Sridharan

January 14, 2026 at 6:52 AM IST

iStock.com

Budget 2026 and the Fragile Math of Corporate Legacy

India’s first-gen unicorns have scaled Maslow’s pyramid. The harder test comes now: can they metabolize growth into legacy?

Kirti Tarang Pande

January 11, 2026 at 11:45 AM IST

iStock.com/amlanmathur

Beyond the Fiscal Target: Aligning Fiscal Discipline with Growth

With nominal growth easing and revenues under pressure, Budget 2026-27 will test if fiscal consolidation can remain credible without squeezing growth-critical capex.

Shilpashree Venkatesh

January 6, 2026 at 6:51 AM IST

Finance Ministry

India’s 2025 Exports Resilient, but Policy Gaps Remain

India’s exports weathered a turbulent 2025 marked by protectionism and trade disruptions, showing resilience. Delayed policy support and uneven gains from trade agreements, however, leave the sector vulnerable as global uncertainties persist into 2026.

Sharmila Kantha

January 2, 2026 at 7:32 AM IST

Istock.com

Why State Finances are Feeling the Strain: A Case Study of Three States

Election-time freebies are straining state budgets as debt stays elevated, revenues lag and committed spending crowds out investment. Case studies from Bihar, Punjab and West Bengal show how giveaways risk locking states into deeper borrowing and fiscal stress.

Abhishek Dey

December 18, 2025 at 8:57 AM IST

https://fincomindia.nic.in/

Government Seeks Parliament Approval to Spend Net Additional ₹415 Billion in FY26

BasisPoint Insight

December 1, 2025 at 9:35 AM IST

Fiscal Calm Masks Fragile Math Built on Windfalls and Deflators

India may meet its 4.4% deficit goal this year, but only through one-off gains and statistical cushions that leave its fiscal base exposed.

BasisPoint Groupthink

November 13, 2025 at 12:36 PM IST

Finance Ministry

How Cash Handouts Are Rewriting State Politics—and Budgets

Richard Fargose

November 12, 2025 at 9:50 AM IST

iStock.com

India 2047: Building Urban India from its Districts

India’s urban future can’t hinge on megacities alone. Can district hubs offer a smarter, fairer path to growth—and prevent a sprawl crisis before it’s too late?

Arvind Mayaram

November 7, 2025 at 6:04 AM IST

iStock.com

Can India's Consumption Engine Outrun Trump's Trade Shock?

India is betting that tax relief will keep consumption strong even as tariffs squeeze exports. But policy follow-through may be the key.

Alok Kumar Mishra

Iti Vyas

September 11, 2025 at 8:39 AM IST

IStock/RealPictures

Private Banks Lead Hiring as State Lenders Lose Ground in Workforce

India’s banking workforce is growing fast, with private and small finance banks driving change. But the gains are uneven across regions, roles, and gender.

Akshi Chawla

August 13, 2025 at 6:25 AM IST

File Photo

India’s Recovery Plan Is Missing Its Fiscal Half

While the RBI has acted to support growth, the Finance Ministry’s virtual silence since the Budget leaves policy looking oddly one-handed.

Dhananjay Sinha

Kalyan Ram

July 20, 2025 at 6:52 AM IST

Backhanded Nationalisation of VI, A Survival Jetpack Or A Transformational Pivot?

India’s quiet takeover of Vodafone Idea won’t fix telecom’s structural rot. Without deep reform, this rescue may just delay the inevitable.

Dhananjay Sinha

April 2, 2025 at 4:01 AM IST

iStock.com/vlad_karavaev

Top 10 Announcements in Maharashtra Budget 2025-26

BasisPoint Insight

March 10, 2025 at 12:21 PM IST

Renewables

India’s Solar Sprint Risks A Sudden Eclipse

A decade of explosive solar power growth hides a stark reality—projects are stalling, and critical policy gaps threaten the momentum. Without urgent fixes, India's energy transition could short-circuit.

Aabhas Pandya

February 20, 2025 at 3:07 AM IST

istock.com/ertyo5

Streamlining Gig Economy Needs More Than Just A Gig

The benefits of formalising the gig economy are far-reaching. Social security provisions such as health insurance and pension schemes will improve the financial well-being of gig workers. However, ensuring comprehensive coverage for all gig workers remains a challenge.

Arti Singh

February 2, 2025 at 11:06 AM IST

Budget Bets On Credibility By Preferring Fiscal Discipline Over Pump Priming

The budget prioritises fiscal credibility over GDP growth, banking on optimistic revenue estimates and middle-class consumption to drive demand.

BasisPoint Groupthink

February 1, 2025 at 5:46 PM IST

Budget Balances Fiscal Discipline With Inclusive Growth

The Union Budget 2025-2026 focuses on fiscal discipline, infrastructure development, and middle-class tax relief to drive sustainable growth. With reforms in FDI, social security for gig workers, and green energy investments, the budget aims to boost economic resilience while fostering inclusive development. Its balanced approach seeks to propel India towards a self-reliant and competitive future.

Alok Kumar Mishra

February 1, 2025 at 3:58 PM IST

For Middle Class, Is The Glass Half Full Or Half Empty?

The Union Budget 2025 offers significant tax relief for the middle class, with revamped tax slabs and higher rebates boosting disposable incomes. However, concerns persist over high inflation, slowing growth, and limited fiscal stimulus. While urban consumption may rise, the budget’s focus on supply-side measures may not fully revive demand.

Rajesh Mahapatra

February 1, 2025 at 10:49 AM IST

BasisPoint Breaking Views Live During Budget 2025

As Finance Minister Nirmala Sitharaman delivers the Union Budget 2025, several key announcements are shaping the government’s economic priorities. Our key insights, filed on the go while she speaks in Parliament, capture the first take on her policy and development moves.

BasisPoint Groupthink

February 1, 2025 at 5:10 AM IST

Sourav Mishra

Sovereign Green Bonds - Red Signal On The Horizon?

Sovereign green bonds were meant to unlock cheaper capital, but the greenium has all but disappeared. With Trump’s return weakening global climate finance, a rethink on their viability is now imperative.

BasisPoint Groupthink

January 31, 2025 at 2:41 PM IST

PSU Bank Privatisation: All Talk, No Action

Despite repeated budget announcements, the government has made little headway in privatising IDBI Bank or other public-sector financial institutions. Investors remain wary, and policy inertia has left critical decisions in limbo.

BasisPoint Groupthink

January 31, 2025 at 2:32 PM IST

Global Minimum Tax – ‘Trumpnado’ Comes As India Braces To Unveil New Rules

India is set to implement OECD’s global minimum tax of 15% in the Union Budget 2025, but the US withdrawal under Trump raises uncertainties. The move may trigger resistance from other tax jurisdictions, challenging the global tax framework.

Shailendra Kumar

January 31, 2025 at 2:08 PM IST

Preserving Macro Stability Amidst Elevated Volatility To Test Budget

The central government should keep its fiscal powder dry by avoiding any fiscal missteps while keeping a close watch on the changing global trade and economic order. Maintaining fiscal discipline, but not overdoing it, will be the key.

Shubhada Rao, Vivek Kumar, and Yuvika Singhal

January 31, 2025 at 1:09 PM IST

Bridging The Urban Divide – What Budget Must Do For Inclusive Urban Development

Urbanisation drives economic growth but deepens inequalities, especially in India's expanding slums. The Union Budget 2025 must prioritise inclusive urban development to bridge this gap.

Alok Kumar Mishra

January 31, 2025 at 12:46 PM IST

Equities Will Remain In A Holding Pattern As Budget Unlikely To Lift Market Ennui

Indian equities are unlikely to gain clear direction from the 2025-26 Union Budget, with fiscal constraints limiting stimulus measures. Market movements will remain range-bound, driven more by liquidity conditions, earnings performance, and global risk sentiment.

Krishnadevan V

January 31, 2025 at 10:05 AM IST

It’s Time To Revamp The Divestment Strategy For Long-Term Wealth Creation

Aligning divestment strategies with market dynamics and long-term objectives can unlock greater returns and valuations. The era of rigid annual targets must end.

Chokkalingam G

January 31, 2025 at 2:17 AM IST

Budget May Have To Reset India’s Growth Engine From Investment To Consumption

It is pointless to debate whether the current slowdown is cyclical or structural; what matters is finding a way forward. The Budget 2025-26 will have to navigate a complex economic landscape where growth momentum has faltered just when it was expected to pick up.

Abheek Barua

January 30, 2025 at 9:44 AM IST

Monetary Policy Can’t Take Up The Government’s Slack To Boost Economic Growth

The narrative of reforms in India over the past five years has largely remained just that—a narrative. September 2019 was the last when the central government undertook serious economic measure when it reduced corporate tax rates. Prior to that was the rollout of GST in July 2017. Economy now needs more than just past reforms.

BasisPoint Groupthink

January 30, 2025 at 9:13 AM IST

The Bureau

Oil Above $100 Weighs on Asia Stocks Amid Extended Hormuz Closure Fears

India’s Retail Inflation Rises to 3.21% in February as Food Prices Edge Higher

India’s Easing of Border FDI Curbs May Only Gradually Deepen Manufacturing

Govt invokes Essential Commodities Act to Divert Natural Gas to Priority Sectors

Equity MF Inflows Rise in February; Gold ETF Flows Ease After January Spike

GAIL Reports Zero LNG Allocation from Petronet Following Strait of Hormuz Force Majeure

Auto Retail Sales Surge to Record February Levels, Led by Two-Wheelers and Tractors

New GDP Data: Problem Fixed, Or Made Worse?

Learning to Shoot: I Tried to Fly Before I Could Walk