India Budget 2026: Crisil Pitches ₹12 Lakh Crore Infra Capex
Overview
Crisil Intelligence has proposed a ₹12 lakh crore capital expenditure outlay for India's Union Budget 2026 to sustain infrastructure-led growth. The proposal emphasizes continued focus on roads, railways, and logistics, alongside an ambitious ₹10 lakh crore target for the National Monetisation Pipeline 2.0. Industry stakeholders also seek policy support for housing and energy transition.
Stocks Mentioned
Infrastructure Capex Boost
Crisil Intelligence has urged the government to maintain India's infrastructure-led growth strategy, proposing a capital expenditure (capex) outlay of approximately ₹12 lakh crore for the Union Budget 2026. This continued investment is crucial for reinforcing key sectors like roads, railways, and logistics, which are vital for unlocking broader economic multipliers.
Asset Monetisation Plan
The proposal also calls for the acceleration of asset monetisation, specifically advocating for the launch of National Monetisation Pipeline (NMP) 2.0. Crisil suggests an ambitious target of ₹10 lakh crore for NMP 2.0 over the fiscal years 2026-2030. This strategy aims to unlock the value of existing brownfield assets, thereby generating funds for new infrastructure projects and enhancing India's global competitiveness.
Sectoral Focus & Execution
Within the infrastructure domain, the railways sector is keenly anticipating Budget 2026 not just for allocations, but for a demonstration of execution and reform-led growth. Industry players like Jupiter Wagons Limited are optimistic about the government's focus on operational and safety improvements, expecting a modest five percent increase in rail spending to around ₹2.65 lakh crore.
Real Estate Aspirations
The real estate sector is seeking continuity in infrastructure spending and macro stability. Stakeholders are hopeful for measures that enhance housing affordability, potentially including reinstated tax benefits for homebuyers and streamlined single-window clearance systems. Policy clarity and rational taxation are also key demands to stimulate demand across various segments and improve ease of doing business.
