Budget 2026: Will be watching growth and fiscal deficit numbers closely, says Atanu Chakraborty

Stressing that the government is likely to stay committed to its fiscal consolidation path despite pressures on tax collections, Atanu Chakraborty, former Secretary, Department of Economic Affairs, said the fiscal deficit and growth numbers will be the key indicators to watch in the Union Budget.

“As always, I have looked at the fiscal deficit number, which in a sense captures the entire expenditure and revenue side both together. And of course, the growth, that’s what would bring employment,” he said.

Chakraborty is confident that the government would adhere to its stated fiscal deficit glide path, a commitment he described as a “very bold statement” made before the election. He acknowledged that this discipline has been maintained despite what could be below-expectation performance on the tax collection.

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He also pointed to the government’s stated intent to shift its focus towards the debt-to-GDP ratio as an important metric for assessing fiscal health.

For the entire discussion, watch the accompanying video

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