Budget 2026: What did common man get? Relief for farmers and workers or not — Watch full interview with K.B.S. Sidhu
Babushahi Bureau
Chandigarh, February 1, 2026: Former Punjab Special Chief Secretary K.B.S. Sidhu has described the Union Budget 2026 as a “balanced budget”, stating that while it may not offer dramatic relief to the common man, it focuses on maintaining long-term economic stability. Speaking to Babushahi Editor Baljit Balli, Sidhu presented a detailed and measured analysis of the budget.
Sidhu said there was no excessive hype or high expectations from the budget, as the Economic Survey released two days earlier had already set the tone. He noted that India’s economic growth remains stable compared to major global economies and that, at the macroeconomic level, the country is in a strong position.
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Referring to taxation, Sidhu pointed out that the new Income Tax Act was already passed during the previous monsoon session and is set to come into effect from April 1. Therefore, he said, expectations of major tax rate cuts were unrealistic.
Similarly, prices of essential commodities such as wheat flour and pulses fall under the purview of the GST Council, where key decisions have already been taken, leaving little scope for new headline announcements in the budget.
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According to Sidhu, the Modi government’s primary focus has been on reducing the fiscal deficit, which had crossed 9 percent during the COVID period. He said the fiscal deficit is estimated at 4.4 percent for the current financial year ending March 31, with a target of 4.3 percent for the next year.
Explaining its impact on the common man, Sidhu said excessive borrowing or printing of currency leads to inflation, which directly affects the poor. He added that heavy government borrowing from markets also makes loans costlier for businesses. Hence, keeping the fiscal deficit under control sends a positive signal for the economy.