A core expectation is that the government stays committed to public capex, with estimates of a ~10-15% increase. This matters because small & mid-caps benefit most when capex creates a multi-year order cycle, not just a one year push. Contextually, FY26 capex outlay was set at Rs 11.21 lakh crore.
Three things Union Budget 2026 must get right to restart earnings compounding in small and mid caps
