Fiscal policy targets deficit control and advances tax reform, subsidy direct transfer and expanded social infrastructure spending.

Fiscal measures set a deficit target and pursue resource mobilisation via disinvestment and tax free bond issuance; tax administration reforms include the Direct Tax Code, higher personal exemption and adjusted corporate surcharge; a phased direct cash transfer scheme for subsidised kerosene, LPG and fertiliser is proposed. Banking and financial sector measures provide capital support for public and regional banks, additional licensing, expanded foreign investment access to infrastructure bonds, and creation of funds for microfinance, MSME and rural credit. Infrastructure, food security and social sector allocations are increased alongside Aadhaar enrolment to improve targeting.

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