Budget 2026, Jan. 27 -- Sunny Agrawal, Head of Fundamental Research at SBI Securities, said the upcoming Budget for the financial year 2026-27 (FY27) could focus on fiscal consolidation, capex-driven growth and ease of doing business. However, he expects a post-Budget rally only in case of measures to attract capital from FIIs and domestic investors. In this interaction with Mint, Agrawal shares his expectations on divestment, the possibility of tax tweaks in Budget 2026 and sectoral bets ahead of the mega event. Edited excerpts:

1. Capex-driven growth push: Government of India may increase the capex spend by 10-12% for FY27E on the revised target of FY26E. For FY27E, the annual capex spend target can exceed the Rs.12 trillion mark. Any ...