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Introduction: Budget 2026 at a Crucial Economic Juncture The Union Budget 2026, to be presented by Finance Minister Nirmala Sitharaman on 1 February 2026 , comes at a defining moment for India’s macroeconomic and fiscal trajectory. Just two days ahead of the Budget speech, industry stakeholders, economists, and policymakers are closely watching government signals on growth, inflation management, fiscal consolidation, and sectoral allocations. This will be Nirmala Sitharaman’s ninth consecutive Budget , marking a rare continuity in fiscal leadership. Notably, this is also the first time in over a decade that the Union Budget will be presented on a Sunday , underscoring its exceptional political and economic significance. Constitutional Basis of the Union Budget Article 112 of the Constitution of India The Union Budget is constitutionally referred to as the “Annual Financial Statement” under Article 112 . It mandates the government to present estimated receipts and expenditures of the ...

Supreme Court Judgment Analysis | NBCC vs. West Bengal Introduction This Supreme Court judgment deals with the civil appeal filed by NBCC (India) Ltd. against the State of West Bengal and others concerning the applicability and interpretation of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act). Central to the case is whether registration under Section 8 of the MSMED Act is a mandatory precondition for invoking dispute resolution under Section 18. Case Overview and Facts NBCC, a government entity, entered into five construction contracts with Saket Infra Developers Pvt. Ltd. between 2015 and 2017 for projects in West Bengal. Saket Infra was registered as a small enterprise under the MSMED Act in 2016, after some of the contracts were executed. Disputes arose regarding payments, leading the enterprise to invoke Section 18 of the MSMED Act and approach the West Bengal Facilitation Council for arbitration. The appellant (NBCC) challenged the jurisdiction of th...