Overall, the new projects initiated in Part A of the budget appear to be focused on the economic reality of a changing global order, and not on domestic populism with a plethora of welfare schemes. The budget has also been able to restrict the fiscal deficit to 4.4% of GDP for the revised estimates for 2025-26, and bring it down further to 4.3% in the budget estimates for 2026-27. The revenue deficit has been unchanged at 1.5% from the revised estimates for this year to the budget estimates for the next year. Overall, the budget attempts to put India as part of the changing global order with its focus on AI and rare earth metals. That the global order is changing is beyond doubt.

Source: The Telegraph February 02, 2026 02:43 UTC