New Delhi, Feb. 1 -- The stakes couldn't be higher for Union Budget 2026-27. Global shocks and domestic frailties demanded a stroke of fiscal artistry-prudence on the fiscal path fused with audacious growth bets and prioritization of the medium term over the short term. The budget has done precisely that by opting to augment India's strategic resilience over the medium term and remain steadfast on fiscal consolidation and debt reduction.

How does one describe this budget? It comes across as:

Contextual: The liberal order that powered growth for decades is under stress. Nations are erecting new walls and there is a clear move towards bipolarity that may not serve India's economic interests, even as newer technologies are acquired and big...