For long-term investors and for institutional entities with substantial balance sheets, the effect is marginal. The primary burden is borne by high-frequency retail traders.
Budget 2026 does not seek to redefine India’s growth model; rather, it reinforces the existing framework characterised by fiscal restraint, public investment, and manufacturing depth.
The Economic Survey 2025-26 is not a celebration of success, but a measured warning that the traditional paradigms of global economic growth are no longer applicable.
Farmers are often characterised as risk-averse. In actuality, they are responding to a policy framework that mitigates price risk for a limited range of crops.
If low inflation is interpreted as a success, fiscal ambitions will be limited. And if it is perceived as indicative of weak demand, the policy response will have to be suitably adjusted.
In 1980, South American countries exhibited similar income levels, with Venezuela ranking among the more affluent economies. By 2023, this landscape had significantly altered.
After dominating India’s crude imports since 2023, Russian supplies slowed amid US sanctions, but a 30-day ‘waiver’ amid West Asia tensions could now push flows back towards 2 mbpd.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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