Union Budget 2026 | Nrimala Sitharaman resists populism to put fiscal prudence, jobs, growth at heart

New Delhi: Unlike her previous budget speeches that were laced with political messaging for poll-bound states, Finance Minister Nirmala Sitharaman on Sunday shunned populism and election sops for fiscal prudence to boost job creation and generate sustainable growth amidst global trade turmoil.

In 2025, Sitharam had announced a slew of schemes for Bihar like setting up of Makhana (Fox Nut) Board, a greenfield airport, a canal project and expansion of IIT, Patna.

This time, though, the minister refrained from making state specific promises.

The only political statement, that too sartorial, came from the choice of saree the finance minister wore for the budget speech — a Kanchivaram
silk.

Or could it be that the ruling party at the centre does not want to rush into laying bare its cards on the table and has reserved targeted poll promises for the final lap before the elections?

Four states, including Tamil Nadu, Assam, West Bengal, Kerala and one Union Territory, Puducherry, will have Assembly elections in 2026. It was widely expected, like previous years, the government would use the Union Budget to outline a political programme for the poll-bound states and UT.

In yet another departure from her previous Budget presentations, this year’s speech was marked by the absence of frills, poetry, or invocations of saints or philosophers.

The underlined theme, if any, was the challenges faced by the country in a fast-evolving external environment in which “trade and multilateralism are imperilled.”

The loadstar and guiding theme, thus, for the budget document was Atma Nirbharta or self-reliance that could be achieved by exporting more and “attracting stable long-term investment.”

There is another first in this year’s Budget. This is the first time the Budget document has got its final touches outside the portals of the North Block atop the Raisina Hill, as key departments of the central secretariat have, in the last one year, been shifted to the newly constructed Kartavya Bhawan as part of the plan to develop the central vista on either side of the road connecting Rashtrapati Bhavan and India Gate.

The minister used the occasion to list the three responsibilities that she said were guiding the economic policies of the government: accelerate and sustain economic growth by enhancing productivity, fulfil aspirations of the people, and ensure every “community and region had access to resources, amenities, and opportunities.”

“Our third kartavya aligns with our vision of Sabka Sath, Sabka Vikas towards a Viksit Bharat,” the minister added.

The underlying inclusive theme of the budget speech, with the minister seeking to build economic consensus amid global uncertainties, was well reciprocated by the opposition as it sat through without intervening or interjecting. The sloganeering, or whatever little happened of it when the PM entered the house, ceased once the LS speaker Om Birla took his seat and proceedings started.  

The minister ended her 85-minute speech proposing to revise provisions for baggage clearance and enhance duty-free allowance during international travel.