Budget 2026-27: Architecture of high trust and discipline

Asset monetisation, debt restructuring are the only sustainable pathways to keep fiscal deficits under control while funding national ambition

- SHAILESH HARIBHAKTI

Budgets are often judged by what they announce, I prefer to judge them by what they quietly enable.

India today stands at a rare inflection point—where institutional maturity, digital infrastructure, citizen compliance, and economic aspiration are converging into something far more powerful than fiscal arithmetic, We are designing, almost unconsciously, the operating system of a confident nation.

The Union Budget 2026-27, therefore, should not chase novelty. Itshould consolidate trust, deepen automation, and strengthen the nation’s balance sheet—both economic and moral.

From Tax Law to Tax Trust:

The Goods and Services Tax law has now been comprehensively revised. Conceptually, structurally, and administratively, the GST has reached maturity. What remains is not legislation but execution.

The next frontier must be faceless assessment, seamless grievance redressal, and a systemic shift toward taxpayer trust and compliance orientation. Litigation should gradually become an exception rather than the default pathway. When the tax administration becomes invisible, predictable, and digitally accountable, compliance naturally rises—not through fear, but through confidence.

India has already demonstrated this in income tax processing, refunds, and data reconciliation. The GST must now experience the same cultural evolution—from enforcement to partnership.

The Radical Power of Stability in the New Income Tax Regime:

The new Income Tax Act comes into force from April 1, 2026. There is a temptation, almost an instinct, to immediately tweak. refine, and improve.