India, Jan. 30 -- If the 2026-27 Union Budget were not being presented in an external environment of unprecedented turbulence the economic situation would have been very different. Today, the erstwhile hegemon of the rules-based-order is hell bent on destroying it -- and at a time when the world is bracing for a generational leap in technology thanks to Artificial Intelligence (AI) which, at least for now, seems to have taken financial markets beyond the realm of rational intelligence. As an economy which runs a current account deficit and is, therefore, dependent on capital flows and is looking to attract more FDI to boost manufacturing, economic policy making in India has no choice but to account for these challenges. Here is a brief de...