Union Budget 2026: After Tax Cuts, What Next? Decoding Budget Expectations

With the Union Budget 2026 just weeks away, expectations are running high after last year’s big tax reforms. However, this time the government is unlikely to offer further tax cuts, instead shifting focus toward growth-driving sectors. Experts expect stronger policy support for logistics, infrastructure and power, especially as India signs new trade agreements and pushes manufacturing under the PLI scheme. The renewable energy push could also help bring down power costs over the next few years. Another key area to watch is India’s digital stack, including digital payments, cross-border UPI and digital currency initiatives. Semiconductor and data centre investments are also likely to get a boost. We break down what this Sunday Budget could mean for markets, businesses and investors.