Budget 2026, Jan. 27 -- Sandeep Raina, Senior Vice President - Research for Nuvama Group, expects some pause in fiscal consolidation in FY27, which will be favourable for growth and positive for the stock market. In an interview with Mint, Raina said he expects some incentives for the rural economy driven by low food inflation and rising gold and land prices, and some incentive schemes for the stressed-out export sector post US tariffs.

Edited excerpts:

Since the Government of India has already announced multiple initiatives, such as GST rationalisation and tax cuts in CY25, further direct incentives are likely to be negligible (if any).

To sustain a short-term consumption boost, the government has to fiscally support the economy.

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