Defence, railways may get big Budget push; new measures to boost consumption unlikely: Pankaj Pandey of ICICI Securities

Pankaj Pandey, the head of research at ICICI Securities, expects modest capital expenditure growth in the Union Budget 2026, given the high base of ₹11.2 lakh crore. He believes defense and railways may see increased allocations, but sees limited scope for new measures to boost consumption. In an interview with Mint, Pandey shares his expectations…

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Budget 2026: Manufacturing boost, higher divestment, no tax stimulus — ICICI Securities lists what to expect this year

Budget 2026: With the Union Budget 2026 around the corner, domestic brokerage ICICI Securities expects it to provide a positive surprise for lenders and industrial stocks amid expectations of higher capital expenditure, lower spending on non-development areas, increased divestment and no tax stimulus. Focus on manufacturing ICICI Securities analysts Vinod Kakri and Bhavesh Talreja said…

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