The Union Budget for FY27 is set to be a low-key but strategically important exercise.

The Union Budget for FY27 is set to be a low-key but strategically important exercise. Most economists and brokerages expect the Centre to peg the fiscal deficit at around 4.2–4.3 per cent of GDP in FY27. After major personal income tax relief and GST rationalisation in FY26, experts believe FY27 will avoid disruptive tax changes. Personal income tax slabs and capital gains taxes are expected to remain unchanged. The broader policy message, analysts say, will be one of macro stability, fiscal discipline, and incremental reform. The Budget will be presented on February 14.