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Axis Mutual Fund CIO Ashish Gupta on Union Budget
This story was originally published at 14:54 IST on 1 February 2026
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MUMBAI - Ashish Gupta, chief investment officer, Axis Mutual Fund, said the following on the Union Budget for 2026-27 (Apr-Mar), presented in the Lok Sabha by Finance Minister Nirmala Sitharaman on Sunday:
This year's Budget is fairly conservative in its approach. The government has forecast a reduction in the fiscal deficit by assuming a nominal GDP growth of around 10% and tax growth of about 8%, indicating that its assumptions remain measured. Unlike last year, which saw a large stimulus for consumption and manufacturing through goods and services tax cuts, this Budget is more focused on providing stimulus to the services sector. There is also a clear emphasis on expected high-growth areas such as data centres, electronic manufacturing, and building future capacity through education and skilling, reinforcing the focus on self-reliance. Overall, it is a mixed bag for capital markets, with a stable tax regime being maintained, although increases in certain securities transaction tax and the borrowing programme may cause some disappointment.
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Compiled by Janwee Prajapati
Filed by Akul Nishant Akhoury
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