FM to unwrap budget buffer for global shocks

Reforms, incentives on cards for manufacturers, small firms and exporters

- Gireesh Chandra Prasad & Dhirendra Kumar

One of the key themes of India’s upcoming Union budget, the first after US tariffs rocked global trade last year, will be to de-risk the economy from prolonged headwinds by announcing reforms and incentives for manufacturers, small businesses and exporters, according to two persons familiar with the discussions.

The 1 February announcements by finance minister Nirmala Sitharaman will focus on schemes enabling export diversification, market access and improving the quality of goods manufactured in India, said one of two people quoted above—both spoke on the condition of anonymity.