The Union Budget 2026-27 has a total outlay of ₹53.5 lakh crore and sets the fiscal deficit at 4.3% of GDP, down from 4.4% in 2025-26, with the revenue deficit at 1.5%. The debt-to-GDP ratio is projected to ease to 55.6% from 56.1%. Gross market borrowing is estimated at ₹17.2 lakh crore and net borrowing at ₹11.7 lakh crore. Defence gets a record ₹7.85 lakh crore, including ₹2.31 lakh crore of capital outlay, while Railways get ₹2.93 lakh crore and the Finance Ministry ₹19.72 lakh crore. States receive ₹1.4 lakh crore as Finance Commission grants. Nominal GDP growth is assumed at 10%.