The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on February 1, 2026, has been praised for its focus on growth, stability, and long-term development toward a "Viksit Bharat." Former Union Minister of State for Finance and senior BJP leader Jayant Sinha has highlighted several aspects of the budget, particularly those benefiting the common man through direct and indirect relief measures.
In recent discussions and analyses, including interviews and media appearances following the budget presentation, Jayant Sinha described the budget as "excellent," noting its role in positioning India as a safe haven amid global volatility. While emphasizing strategic investments in capital expenditure, defence, and sunrise sectors like AI, semiconductors, and biopharma, he pointed to specific initiatives that provide tangible benefits to everyday citizens.
Key highlights listed by Jayant Sinha and aligned with common man-focused benefits include:
GST rate reductions and reforms — Resulting in significant savings, with reports indicating that adjustments in GST rates have effectively put around Rs 1.5 lakh crore back into the pockets of the common man through lower prices on goods and services. This indirect tax relief eases the cost of living for households across income levels.
Labour law changes and formalization — Updates to labour regulations were cited as a strong initiative, promoting easier compliance, better job security, and formal employment opportunities, which indirectly benefit workers and the middle class by improving working conditions and access to social security.
Tax relief measures — These include maintaining effective tax-free income up to ₹12 lakh under the new regime (with standard deductions), doubled deductions for senior citizens' interest income up to ₹1 lakh, reduced TCS on overseas travel packages to 2%, and customs duty rationalization for personal imports to enhance ease of living. Such steps provide direct financial relief to middle-class families, travellers, and retirees.
Broader economic multipliers — Increased capital expenditure (record ₹12.2 lakh crore allocation) and infrastructure pushes, such as high-speed rail connectors, new freight corridors, and national waterways, are expected to generate employment, reduce logistics costs, and improve connectivity—ultimately lowering prices and creating job opportunities for the common man.
Sinha underscored that these measures, combined with fiscal discipline (targeting a 4.3% GDP fiscal deficit for FY27), support inclusive growth without populist giveaways, focusing instead on sustainable benefits like job creation through MSME support, manufacturing boosts, and simplified compliance.
The budget has drawn mixed reactions, with opposition voices criticizing it as lacking direct populist measures, while proponents like Sinha argue its emphasis on infrastructure, tax simplification, and sector-specific incentives will deliver long-term gains for ordinary citizens through lower costs, more jobs, and economic stability.
This comes as India aims for accelerated progress toward becoming a developed nation by 2047, with Sinha's commentary reinforcing the government's narrative of balanced, reform-oriented budgeting.
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