Davinder Sandhu, Co-founder & Chairperson, Primus Partners highlights that India approaches Budget 2026–27 from a position of sustained macroeconomic stability, with steady growth, moderated inflation, fiscal credibility, and a resilient financial system. However, this stability has not translated into a higher growth trajectory, revealing that India’s key constraint is now structural rather than macroeconomic. Weak private investment, uneven consumption, and subdued manufacturing and exports underscore the need for Budget 2026 to focus on deep structural reforms to convert stability into faster, more durable growth.