Going by the gross borrowing number of Rs 17.2 lakh crore, yields could harden. However, a large part of this is due to high redemptions, which are at a high of Rs 5.5 lakh crore. Therefore, the net borrowing is stable at last year’s level at Rs 11.7 lakh crore. The other significant aspect of the capex outlay is the Rs 2.26 lakh crore allocation to states. These include the PM-Kisan scheme as well as the newVB-G RAM G.The Budget is a balancing act between maintaining fiscal prudence and providing incentives to different segments.

Source: Indian Express February 01, 2026 13:40 UTC