Budget FY27 at the Crossroads: Economic reform or electoral calculus as Bengal polls loom

Key Highlights

• High Stakes Budget in a Politically Charged Year: Sitharaman’s track record lends the moment added weight.
• She already holds the record for the longest budget speech in Indian history—two hours and 42 minutes in 2020—and is now just one budget short of Morarji Desai’s all-time record of 10.
• But symbolism aside, Budget 2026-27 arrives at a sensitive juncture: growth remains resilient but uneven, consumption has been propped up by fiscal measures, and states like West Bengal are heading into elections where economic messaging could prove decisive.
• Media reports suggest the government will double down on priority sectors such as railways, MSMEs, defence, infrastructure and green energy, while sustaining last year’s consumption push.
• The breadth of expectations—from taxpayers to industry lobbies—underscores how politically consequential this budget could be.