India Implements Modest Budget Emphasizing Continuity

Finance Minister Nirmala Sitharaman presented India's ninth union budget on a continuity-driven platform, avoiding major reforms while projecting 10% nominal GDP growth next year and raising capex to ₹12.2 lakh crore. Key measures include a higher securities transaction tax for futures and options, a data-centre tax holiday until 2047 to attract AI investment, increased defence spending, buyback and capital-gains tax changes, and expanded asset monetisation.