Budget 2026 is being talked about as one that won’t give big tax changes (income tax cuts and GST relief already happened last year). and instead seems more focused on things like manufacturing incentives, export push and data-centre growth.
From a market perspective, do you think a budget like that can still trigger sector rotations, valuations or flows? whether on a short-term or long-term basis
For example:
• Does a capex/manufacturing focus change how you look at industrials or metal stocks?
• Do incentives for digital infrastructure or exports shift sentiment on tech/exporters?
• Or are markets only going to move on direct tax or consumption triggers?
Would love to hear what u guys are pricing in ahead of the budget on Feb 1