How Nirmala Sitharaman's Part B of Union Budget 2026's Will be A First in 75 Years

This year’s Union Budget is set to break with a 75-year tradition as reports suggest that Finance Minister Nirmala Sitharaman is expected to use Part B of her speech to unveil a detailed vision for India’s

economic future.In past Union Budgets, most of the substance lay in Part A, while Part B was limited to tax and policy announcements. This time, as per a report by NDTV which quoted sources, Part B is expected to include both short-term priorities and long-term goals as India enters the second quarter of the 21st century, pointing to the country’s local strengths and global ambitions, the report mentioned.The presentation of the Budget for April 2026 to March 2027 fiscal will be on Sunday (February 1), a first in independent India's history. This would be Sitharaman’s ninth straight Budget. She had in her first Budget in 2019 replaced the leather briefcase, which had been in use for decades for carrying Budget documents, with a traditional 'bahi-khata' wrapped in red cloth. This year’s Budget will be in paperless form, as done in the last four years.Also Read | Union Budget 2026 Live Updates

Markets and Key Sectors Await Direction

Having achieved a fiscal consolidation roadmap with a deficit below 4.5 per cent of GDP in fiscal 2026, markets will keenly watch for direction on debt-to-GDP reduction in the Budget for fiscal 2027. They will also see whether the government will provide a specific fiscal deficit number for the next financial year.The government’s planned capital expenditure for this fiscal is budgeted at Rs 11.2 lakh crore. The government is likely to maintain its focus on capital expenditure in the latest Budget, with a 10-15 per cent increase in the capex target from the current level, as private sector players remain cautious.Also Read | Budget 2026: What Could Become Cheaper and What May Get Costlier?Economists in India and abroad are watching closely, anticipating a roadmap that goes far beyond routine tax changes.Nominal GDP growth projections for fiscal 2027 in the Budget will give an idea about the inflation trajectory ahead. As per estimates, the government may announce a nominal GDP between 10.5 and 11 per cent for the next fiscal. Spotlight would also be on spending on key schemes like GRAM G, as well as key sectors like health and education.