Unremarkable Budget, critics' choice rather than crowd-pleaser, Swaminathan Aiyar says

India Union Budget 2026: Nirmala Sitharaman's ninth budget emphasized continuity, focusing on GDP growth and increased capital expenditure. While fiscal consolidation continues slowly, the budget introduced a securities transaction tax hike on derivatives and taxed buybacks, aiming to curb speculation and tax arbitrage. Asset monetisation is also being prioritized over outright PSU privatization.