First Reactions - Budget 2026 | Sets the Direction, But Leaves the Heavy Lifting for Late

Описание: In this first reaction to Budget 2026, Rahul Ahluwalia joins ‪@livemint‬ for #ReformRunway to assess what the #budget2026 signals—and what it deliberately leaves outside the speech.

Rahul argues that the Budget is best read as a statement of direction, not the primary vehicle for reform. Fiscal discipline and macro stability remain intact, while the real work on deregulation, ease of doing business, and competitiveness is being pushed to high-level committees and task forces.

On jobs, he stresses that skilling alone cannot deliver employment at scale. The binding constraint is private investment and global competitiveness, illustrated by export-oriented manufacturing successes like electronics. He also explains why markets reacted cautiously: expectations of bold tariff rationalisation were high, while the Budget chose incremental steps instead.

Key themes discussed
Budget as intent, not implementation
Job creation and the demand side of the economy
Private investment and global scale
Customs duties, manufacturing, and market reactions
Medical tourism as a strategic opportunity

Watch Rahul’s full first response to Budget 2026 on Reform Runway:    • Union Budget 2026 LIVE: Finance Minister N...