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Policy Announcements under Viksit Bharat FY 2026-27

India is on a journey towards becoming a developed country by 2047. And the recent policy announcement by the Finance Minister under Viksit Bharat 2047 sets a clear roadmap for it.

In today’s blog post, we will give you details of the policy announcement under Viksit Bharat for FY 2026 and 2027.

What is Viksit Bharat 2047?

Viksit Bharat 2047 is a long-term Government of India project to make India a developed nation by the year 2047, on the occasion of 100 years of Indian independence. Viksit Bharat 2047 consists of three words, where Viksit refers to developed nations, Bharat refers to India, and 2047 refers to the 100 years of Independence. This will turn India into a 30 trillion dollar economy.

Pillars of the Budget

The government’s three pillars of the budget include the following:

1. Growth Acceleration: The objective is to increase the growth of the economy by increasing production, for which a huge amount of budget is allocated to develop infrastructure, railways, etc.

2. Capability Building: The government is focusing on developing the capabilities of people, industries, and MSMEs by establishing a new textile park and skill development courses.

3. Medical Access:The government has decided to make cancer medicines affordable and ensure that the cost-effective treatments are accessible for every region and segment of society.

Category	Key Policy Announcements (Budget 2026–27)
Macroeconomic and Fiscal	Capital Expenditure increased to ₹12.2 lakh crore for FY27Fiscal deficit targeted at 4.3% of GDPContinued focus on fiscal discipline and public investment
Infrastructure and Connectivity	Seven High-Speed Rail Corridors announcedDedicated freight corridors and 20 new National Waterways operationalisedInfrastructure Risk Guarantee Fund
Manufacturing and Industry	India Semiconductor Mission (ISM 2.0) launchedBioPharma SHAKTI – ₹10,000 CrElectronics Components, Container Manufacturing and Chemical ParksRare Earth Corridors and high-tech inputs focusRevival of 200 legacy industrial clusters
MSMEs and Enterprise Support	₹10,000 Cr SME Growth Fund₹2,000 Cr top-up to Self-Reliant India FundMandatory TReDS onboarding for CPSEsRemoved ₹10 lakh export value cap on courier exports
Tax and Compliance Reforms	New Income Tax Act, 2025 (from April 1, 2026)Extended ITR deadlines and tax filing reformsReduced TCS on overseas tours, education and medical remittances to 2%Tax holiday for cloud and IT services till 2047Increase in STT on derivatives
Agriculture and Rural Development	Launched Bharat-VISTAAR digital advisory platform for farmersSupport for high‐value crops and livestock value chains
Healthcare and Human Capital	Expanded healthcare hubs and training of 1.5 lakh caregiversNew regional hubs for medical value tourismThree new All India Institutes of Ayurveda
Education and Skills	AVGC Content Creator Labs in 15,000 schools & 500 collegesGirl’s hostels in every district and education infrastructure
Urban and Regional Development	City Economic Regions (CER) focus with dedicated funding
Digital and Services Economy	High-powered committee for services sector growthCloud and data centre incentives

Budget 2026 – Key Policy Announcement

The policy announcement in the Budget 2026 under the Viksit Bharat framework is as follows:

1. Capex

The government has raised the capital expenditure budget of INR 12.2 Lakh crore in the following FY 2026-27. This has been shifted to concentrate on the development of infrastructure, which includes transport and logistics. The government is focusing on Tier-II and Tier-III city development and a city economic region was launched with a provision of 5000 Crore per region for the next 5 years.

2. Connectivity

The government has suggested seven high-speed railway networks, and another INR 10,000 crore of manufacturing shipping containers, which are to be developed domestically. Such efforts will improve transport and employment.

3. Manufacturing of Semiconductors and Electronics

An additional 40,000 crore INR has been allotted to increase the supply chain and manufacturing of semiconductors under Electronics Components Manufacturing Scheme (ECMS).

4. Rare Earth Metals

The government is setting up dedicated corridors to promote the mining, processing, and extraction of rare earth metals, to reduce dependency on imports for the components used in EV and the defence sector.

5. BioPharma

An initiative has been adopted by the government through a budget of 10,000 crore INR to promote India as a global hub for biologics and biosimilars. It includes the enhancement of research and manufacturing facilities.

6. Small and Medium Enterprises Growth

A 10,000 crore INR fund has been set up to promote self-reliant India Fund with an objective to boost the scale and export of smaller enterprises.

7. Healthcare Sector

This budget speech has announced relief for cancer patients, stating that 17 cancer medicines will be exempt from basic customs duty. This will directly reduce the price of medicines and make them affordable for cancer patients. The government will also expand the network of district hospitals and Trauma care centres.

8. Carbon Capture

A 20,000 crore INR fund has been allocated for carbon capture in order to accelerate India’s green transition.

9. Textile Sector

The Finance Minister has announced setting up mega textile plants in order to strengthen the textile sector. The Mahatma Gandhi Swaraj initiative was also announced to provide training and skill development for Khadi and handloom artists.

10. New Income Tax Act

From April 2026, a new Income Tax bill will be implemented, which will simplify tax structures, forms and make compliances easy for individuals and businesses.

Conclusion

On a concluding note, in the recent budget announcement, the Finance Minister of India has proposed some of the steps towards realising Viksit Bharat 2047. Her main priorities are the development of infrastructure, the empowerment of the digital realm, and the growth of the manufacturing industry. These not only increase productivity but also increase job creation. Thus, this policy framework is a sign that we are heading the right way in realising the India 2047 vision. To invest in the Indian growth story, you can start investing now by asking your investment advisor.

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Frequently Asked Questions (FAQs)

What is Viksit Bharat 2047?
Viksit Bharat 2047 is a government of India program to make India a developed country by 2047, which will be the 100th year of independence.
What are the key areas of concern in the policy announcement in FY 2026-27?
The areas that the government aims to improve through the policy announcements are infrastructure, manufacturing, MSMEs, agriculture, etc.
Where can one find the official details of Viksit Bharat FY 2026-27 policy announcement?
The official document of Viksit Bharat 2047 can be found in the Union Budget document, released by the Ministry of Finance.
What is the capital expenditure for FY 2026-27?
The government of India has allocated a total capital expenditure of INR 12.2 Lakh crores.
How much has the government allocated to semi-conductor and electronic manufacturing sector?
The government has allocated a total of INR 40,000 crore to support the manufacturing of semiconductors and electronic goods.

February 15, 2026

Why Are Copper Share Prices Rising in 2026?

Copper prices have moved headline material. In recent months, copper has surged to multi-year highs. Naturally, shares of copper mining and refining companies have followed.

But this is not just another commodity rally driven by hype or short-term speculation. The reasons copper shares are rising are long-term structural demand, short-term supply stress, and financial market behaviour.

To understand what is happening and whether it’s sustainable, we need to look beyond price charts.

Copper as a Metal

In terms of global metal consumption, copper ranks third. Copper is the most effective non-precious metal conductor of electricity. It is also strong, flexible and corrosion resistant, which makes it safe to use in electrical wiring in homes, offices and in major infrastructure projects. More than 25 countries are currently producing copper.

1. Increasing Industrial Demand

Think about how your own electricity use has changed. You charge more devices than you did five years ago. Offices are filled with servers. Cities are upgrading grids. Electric cars are increasing day by day. All of that runs on copper.

Copper is essential for;

Electric vehicles and charging infrastructure
Renewable energy projects like solar and wind
Power transmission and grid expansion
Data centres, cloud computing, and AI infrastructure

An electric car, on average, consumes three to four times more copper than a conventional petrol car. Added to that, government EV goals, renewable energy commitments, and the explosion of data consumption will make investors realise that copper demand is less cyclical and more structural.

That is why analysts do not speak about copper as another industrial metal anymore. It is becoming an important part of the world energy transition.

2. Production Under Pressure

On paper, high prices should bring in more supply, but mining does not work that way in reality.

It may require nearly 10-15 years to develop a new copper mine. The whole process is slowed down by environmental approvals, land acquisition, funding, and political negotiations. Even the current mines are grappling with poor quality of ore, rising costs, and interruptions in operations.

Recently, several large copper producers have

Missed production targets
Cut future output guidance
Faced labour issues, weather disruptions, or regulatory hurdles

In a market already expecting higher demand, even small disruptions matter.

3. Paying for Scarcity

Copper does not trade only in warehouses. It also trades in financial markets, futures, ETFs, and institutional portfolios.

Once prices crossed key technical levels, traders jumped in. Funds that track commodities increased exposure. Traders who thought inflation would rise or the dollar would fall continued making predictions. This does not drive fake demand, but it does make price changes more substantial, especially when physical supply is tight

There is also a behaviour shift among manufacturers. When prices rise and supply feels uncertain, companies often stockpile copper to avoid future shortages. That adds another layer of demand, even if end-use consumption has not changed overnight.

This mix of real demand and financial momentum is why copper prices have moved faster.

4. AI, Data Centres and Digital infrastructure are Copper-Intensive.

The chatbot, search query, or video stream, behind all this, is a data centre full of servers, massive cooling towers, transformers and kilometres of wiring, and most of that is normally composed of copper.

With the increasing use of cloud computing and AI infrastructure around the globe, the jump in power demand is not linear with the infrastructure; it is exponential. Data centres require unlimited power, backup systems and thick wiring to ensure that everything is in operation. Even minor upgrades consume a greater amount of copper.

After creating a data centre, no one destroys it; it continues to operate, is expanded and commonly duplicated elsewhere. This is why markets are reanalysing copper demand.

Why do Copper Company Shares react so strongly?

When copper prices rise, mining stocks generally move even faster. Higher copper prices mean,

Better profit margins
Stronger cash flows
Improved balance sheets
Greater ability to fund expansion or reduce debt

However, not all copper companies benefit equally.

A low-cost producer with stable operations benefits far more than a highly leveraged copper miner facing operational challenges.

Some companies decided in advance the price at which they would sell their copper in the future.
So even if copper prices are very high today, those companies cannot sell at today’s high price. They must sell at the old, lower price they already agreed on, and they do not fully benefit from the price rise (rally).

This is why copper stock rallies often look uneven. Some stocks surge. Others lag. The metal price may be the headline, but company quality decides the outcome.

Is the Ongoing Copper Rally Sustainable?

The long-term scenario for copper remains strong. Electrification, renewable energy, EVs, and digital infrastructure are not trends that reverse easily. Supply constraints are real and slow to resolve.

However, short-term prices have been pushed higher by momentum and speculative flows.

Copper prices could drop, even if the long-term story remains the same, if global growth slows, the dollar strengthens, or supply problems are resolved.

This means investors should avoid treating copper stocks as “easy winners.” Cycles still exist. Corrections are part of commodity markets.

Current Market Scenario

Copper prices have surged to record highs, and this is not a minor move. Prices have increased more than 20% since the beginning of 2025, and this is mostly due to a lack of copper to meet the increasing demand.

The point is that this deficit does not appear to be a short-term problem. The global market can be experiencing a supply and demand gap even in 2026.

According to estimates, there is a lack of approximately 330,000 tonnes, which implies that the pressure on prices may persist.

JP Morgan, for instance, expects copper prices to reach about $12,500 per tonne by mid-2026, which is INR 1,080* per kg in India. In simple terms, they believe copper is likely to remain expensive, not just rise and crash.

$1 = INR 90.62

$12,500 = INR 90.62 * $12, 500

= INR 10,87,479 per tonne.

= INR 10,87, 479 / 1000

= INR 1,087 per/kg.

As of 10th Feb, 2026, copper futures with expiry of 27 Feb, 2026, is trading at INR 1,242 per kg on MCX.

Conclusion

The rise in copper prices is not simply due to inflation or speculation. It shows that people are considering the importance of the metal in various industries. That does not imply that prices are going to increase from here. However, this means that markets probably won’t stop paying attention to copper anytime soon.Investors can make money not only by following the metal, but also by figuring out which companies are most capable of navigating market cycles, keeping costs low, and taking advantage of long-term demand.

Invest in top Copper Company Stocks with Pocketful – enjoy Zero Brokerage on Stocks & ETFs and trade smarter with Advanced F&O Tools

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Frequently Asked Questions (FAQs)

Why are copper share prices rising right now?
Copper shares are moving up because demand is rising faster than supply. When that gap increases, prices tend to react quickly.
Why are miners not able to produce more copper?
Mining is slow and complex. New copper mines take 10-15 years to get approved, built, and operational. Even existing mines struggle with lower ore quality and operational issues. So supply remains difficult even when prices rise.
Why is China so important for copper demand?
China consumes more copper than any other country. Even small policy shifts in China can move global copper prices.
How does a weak US dollar affect copper prices?
Since copper is priced in US dollars, a weaker dollar makes it cheaper for global buyers. This often boosts demand and attracts investors to commodities as a hedge against currency weakness.
Is copper a good long-term investment theme?
Copper is increasingly seen as a long-term investment. That said, prices will remain volatile.

February 14, 2026

Best Banking ETFs in India 2026

In India, the banking sector covers a significant portion of the stock market, and its weightage in the index is expected to remain among the highest sectors in 2026. This is why Banking ETFs have become an easy way for investors to gain exposure to multiple large banks with a single investment. India’s ETF market has already crossed ₹10 lakh crore. In this blog, we will explore the 2026 bank ETF list, the best bank ETFs in India, and PSU bank ETF options in a simple and easy-to-understand manner.

What Is a Banking ETF and How Does It Work?

A Banking ETF (Exchange Traded Fund) is an investment instrument that pools together shares of companies directly involved in the banking sector and sells them as units that trade on a stock exchange. This means you can gain exposure to multiple banks such as SBI, HDFC Bank, and ICICI Bank with a single investment, without having to buy each share individually.

How is this different from individual stocks?

When you buy the stock of a single bank, your risk depends solely on that company’s performance. However, a banking ETF includes many large banks in the banking sector, so the risk is spread out, and the portfolio becomes more diversified.

List of Banking ETFs in India 2026

Nippon India ETF Nifty Bank BeES
Kotak Nifty Bank ETF
SBI ETF Nifty Bank
UTI Nifty Bank ETF
Nippon India ETF Nifty PSU Bank BeES
ICICI Prudential Nifty Private Bank ETF
ICICI Prudential Nifty Bank ETF
Aditya Birla Sun Life Nifty Bank ETF
HDFC Nifty Banking ETF
Kotak Nifty PSU Bank ETF

1. Nippon India ETF Bank BeES

The Nippon India ETF Nifty Bank BeES is a sector-based ETF that tracks the Nifty Bank Index, providing investors with diversified exposure to India’s leading banks. This ETF is ideal for those who want to invest in the entire banking sector rather than selecting individual bank stocks. It boasts low costs and a strong AUM, ensuring good liquidity. With major names like HDFC Bank, ICICI Bank, and SBI included, it is considered a representative ETF for the banking sector.

Nippon India ETF Data Table :

Metric	Data
ETF Name	Nippon India ETF Nifty Bank BeES
Ticker	BANKBEES
Fund House	Nippon India Mutual Fund
Current Price	₹617.80
52 Week Low	₹490.00
52 Week High	₹637.13
Expense Ratio	0.19%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	₹8,006.89 Cr
Exchange Listing	NSE & BSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

2. Kotak Nifty Bank ETF

The Kotak Nifty Bank ETF is a banking sector ETF that tracks the Nifty Bank Index, offering investors exposure to a diversified portfolio of leading Indian banking stocks. This fund is suitable for investors seeking low-cost, diversified exposure to the banking sector. It boasts a low expense ratio and a strong AUM, ensuring good trading liquidity. With major banks like HDFC Bank, ICICI Bank, SBI, and Kotak Bank included in its portfolio, it’s a practical option for sector-based allocation.

Kotak Nifty Bank ETF Data Table :

Metric	Data
ETF Name	Kotak Nifty Bank ETF
Fund House	Kotak Mahindra Mutual Fund
Current Price	617.74
52 Week Low	₹490.15
52 Week High	₹651.60
Expense Ratio	0.15%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	6,566.39
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

3. SBI ETF Nifty Bank

SBI ETF Nifty Bank is a sector-based exchange-traded fund that replicates the Nifty Bank Index. The fund’s portfolio is constructed according to the index composition, and therefore includes leading banking stocks in the country such as HDFC Bank, ICICI Bank, State Bank of India, and Axis Bank. This fund has been active in the market for a considerable time and is known for closely mirroring the movements of the banking index. The units are traded on the stock exchange, and the portfolio holdings are updated in line with index rebalancing.

SBI ETF Nifty Bank Data Table :

Metric	Data
ETF Name	SBI ETF Nifty Bank
Fund House	SBI Mutual Fund
Current Price	612.17
52 Week Low	465.64
52 Week High	625.74
Expense Ratio	0.19%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	4,059.55
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

4. UTI Nifty Bank ETF

The UTI Nifty Bank ETF is an exchange-traded fund launched by UTI Mutual Fund that directly tracks the Nifty Bank Index. Its portfolio is constructed according to the index structure, and therefore includes both large private and public sector banks, such as HDFC Bank, ICICI Bank, SBI, and Kotak Mahindra Bank. The ETF’s holdings are adjusted periodically in line with index rebalancing. This fund is traded on the NSE and is designed to closely reflect the movements of the banking index.

UTI Nifty Bank ETF Data Table :

Metric	Data
ETF Name	UTI Nifty Bank ETF
Fund House	UTI Mutual Fund
Current Price	₹61.62
52 Week Low	₹48.71
52 Week High	₹63.38
Expense Ratio	0.18%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	3,977.66
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

5. Nippon India ETF Nifty PSU Bank BeES

The Nippon India ETF Nifty PSU Bank BeES is a sector ETF that tracks the Nifty PSU Bank Index, and its portfolio is entirely based on public sector banks. According to the index composition, it includes government-owned banks such as SBI, Bank of Baroda, Canara Bank, Punjab National Bank, and Union Bank. The fund’s holdings are maintained according to the index weights and are updated during rebalancing. The ETF is traded on the stock exchange and is structured to mirror the index movement of the PSU banking segment.

Nippon India ETF Nifty PSU Bank BeES Data Table :

Metric	Data
ETF Name	Nippon India ETF Nifty PSU Bank BeES
Fund House	Nippon India Mutual Fund
Current Price	98.01
52 Week Low	61.54
52 Week High	102.28
Expense Ratio	0.49%
Avg. PE Ratio	8.74
Avg. PB Ratio	1.26
AUM	3,935.24
Exchange Listing	NSE
Benchmark	Nifty PSU Bank Index

(Data as of 6 Feb,2026)

6. ICICI Prudential Nifty Private Bank ETF

The ICICI Prudential Nifty Private Bank ETF is a thematic banking ETF that tracks the Nifty Private Bank Index. Its portfolio focuses exclusively on private sector banks and is constructed according to the index weights. Holdings include HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and other private banks. The fund’s composition is updated with index rebalancing to maintain tracking alignment. The ETF is traded on the exchange and is structured to reflect the index performance of the private banking segment.

ICICI Prudential Nifty Private Bank ETF Data Table :

Metric	Data
ETF Name	ICICI Prudential Nifty Private Bank ETF
Fund House	ICICI Prudential Mutual Fund
Current Price	29.04
52 Week Low	23.87
52 Week High	30.03
Expense Ratio	0.15%
Avg. PE Ratio	20.49
Avg. PB Ratio	2.16
AUM	3,379.40
Exchange Listing	NSE
Benchmark	Nifty Private Bank Index

(Data as of 6 Feb,2026)

7. ICICI Prudential Nifty Bank ETF

The ICICI Prudential Nifty Bank ETF is an index-based banking ETF that tracks the performance of the Nifty Bank Index. Its portfolio is constructed according to the index weightage, and therefore includes large-cap and actively traded banking stocks such as HDFC Bank, ICICI Bank, SBI, Axis Bank, and Kotak Mahindra Bank. The fund was launched in 2019 and has been trading regularly on the exchange since then. Holdings and weights are adjusted periodically according to index rebalancing to maintain consistent index tracking.

ICICI Prudential Nifty Bank ETF Data Table :

Metric	Data
ETF Name	ICICI Prudential Nifty Bank ETF
Fund House	ICICI Prudential Mutual Fund
Current Price	₹61.23
52 Week Low	47.55
52 Week High	63.19
Expense Ratio	0.15%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	3,222.56
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

8. ICICI Prudential Nifty Bank ETF

ICICI Prudential Nifty Bank ETF Data Table :

Metric	Data
ETF Name	Aditya Birla Sun Life Nifty Bank ETF
Fund House	Aditya Birla Sun Life Mutual Fund
Current Price	₹61.13
52 Week Low	₹47.55
52 Week High	₹63.26
Expense Ratio	0.14%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	₹2,864.72 Cr
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

9. HDFC Nifty Banking ETF

The HDFC Nifty Banking ETF is an exchange-traded fund launched by HDFC Mutual Fund that tracks the Nifty Bank Index. The ETF’s portfolio is constructed according to the index weights, and therefore includes major banking stocks in India such as HDFC Bank, ICICI Bank, SBI, Axis Bank, and Kotak Mahindra Bank. The fund’s holdings are adjusted periodically in line with index rebalancing. The units are traded on the stock exchange, and the ETF’s structure is designed to closely mirror the movements of the banking index.

HDFC Nifty Banking ETF Data Table :

Metric	Data
ETF Name	HDFC Nifty Banking ETF
Fund House	HDFC Mutual Fund
Current Price	₹61.39
52 Week Low	₹48.51
52 Week High	₹63.63
Expense Ratio	0.16%
Avg. PE Ratio	16.72
Avg. PB Ratio	2.02
AUM	₹2,851.90 Cr
Exchange Listing	NSE
Benchmark	Nifty Bank Index

(Data as of 6 Feb,2026)

10. Kotak Nifty PSU Bank ETF

The Kotak Nifty PSU Bank ETF is a sector-focused exchange-traded fund that tracks the Nifty PSU Bank Index. The ETF’s portfolio consists of shares of public sector banks and is maintained according to the index weightage. Holdings include government-owned banks such as SBI, Bank of Baroda, Canara Bank, Punjab National Bank, and Union Bank. The fund’s composition is updated regularly with index rebalancing to maintain accurate index tracking. ETF units are traded on the stock exchange and reflect the index movement of the PSU banking segment.

Kotak Nifty PSU Bank ETF Data Table :

Metric	Data
ETF Name	Kotak Nifty PSU Bank ETF
Fund House	Kotak Mahindra Mutual Fund
Current Price	₹878.50
52 Week Low	₹552.00
52 Week High	₹914.72
Expense Ratio	0.49%
Avg. PE Ratio	8.74
Avg. PB Ratio	1.26
AUM	2,251.64
Exchange Listing	NSE
Benchmark	Nifty PSU Bank Index

(Data as of 6 Feb,2026)

Read Also: Best Commodity ETFs in India

Risks of Investing in Banking ETFs

Sector Concentration Risk : Banking ETFs track only banking sector stocks. If the entire banking sector weakens due to factors like slow loan growth or rising NPAs the ETF’s value is directly impacted. This presents a higher sector-specific risk compared to diversified index funds.
Drawdown Risk During Credit Stress : When the economy experiences deteriorating credit quality or increased defaults, banking stocks can fall sharply. In such phases, banking ETFs may show greater declines than the broader market.
PSU Bank Policy & Governance Risk : PSU bank ETFs have a higher weighting of government-owned banks. These are more susceptible to policy decisions, recapitalization, mergers, or regulatory changes, which can lead to rapid price movements.
High Beta Volatility : The banking index typically exhibits higher volatility than the overall market. The ETF’s price can fluctuate sharply in response to interest rate changes, RBI policies, and credit cycle news.
Liquidity Risk (in smaller ETFs) : Banking ETFs with low AUM (Assets Under Management) and low trading volume may have wider bid-ask spreads. This increases the difference between the buying and selling prices.
How to Manage Risk : Keep sector ETFs as a limited portion of your portfolio, use staggered buying, and avoid making a very large allocation to a single ETF.

Read Also: Best Index ETFs in India

Conclusion

Banking ETFs offer a straightforward and transparent way to gain index-based exposure to the banking sector in 2026. Bank Nifty, Private Bank, and PSU Bank ETFs represent different sector mixes, so it’s crucial to consider the index type, expense ratio, AUM, and liquidity when making a selection. This tool is useful for sector allocation, but building an entire portfolio solely on banking ETFs is not considered a balanced strategy. Always keep diversification in mind. Invest in Banking ETFs with Pocketful – enjoy zero brokerage on ETFs and stocks, advanced trading tools, and an easy-to-use platform.

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Frequently Asked Questions (FAQs)

How is a Bank ETF different from a PSU Bank ETF?
A Bank ETF tracks a broad banking index including both private and public sector banks, while a PSU Bank ETF tracks only public sector (government-owned) banks.
How can I buy a Bank ETF in India?
Bank ETFs are bought on the exchange through a demat account, just like shares.
Is a Bank ETF risky?
Yes, Bank ETFs are sector-based, so they are subject to higher volatility.
Does a Bank ETF give dividends?
The dividend of a Bank ETF is usually adjusted in the NAV (Net Asset Value).
What should I check before selecting a Bank ETF?
Before choosing a Bank ETF, check the expense ratio, AUM (Assets Under Management), and trading volume.

February 14, 2026

Why Are Steel Share Prices Increasing in India?

In India, steel sector stocks have been witnessing a continuous surge these days. Major stocks like Tata Steel, JSW Steel, and SAIL have seen strong buying activity, leading investors to wonder why are steel share prices increasing day by day? There are several solid reasons behind this: the government’s increased spending plans on infrastructure, the benefit to domestic companies from safeguard duties on imports, and the projected 8% increase in steel demand by 2026. In this article, we will understand the real reasons behind this surge in simple terms.

The 3-year Safeguard Duty in India and its impact on steel shares.

The Indian government has imposed a three-year safeguard duty on select flat steel products to curb cheap imports. This decision was made after the trade regulator (DGTR) found that rising imports at low prices threatened to harm the domestic steel industry. This duty applies only to imports below a certain threshold price – meaning imports at normal prices will not be subject to this additional levy.

This measure is specifically designed to protect domestic mills from sudden price drops and maintain stability in the market.

Safeguard Duty Structure

Duration	Duty rate	Note
First year	12%	Applicable to selected flat steel imports.
Second year	11.5%	Phased reduction
third year	11%	Staggered structure
Applicable products	HRC, CRC, coated & colour-coated steel	On imports below the threshold price

Which steel products are covered?

Safeguard duties are primarily applied to products that are widely used in the infrastructure, automotive, engineering, and construction sectors.

Hot Rolled Coils(HRC)
Cold Rolled Coils (CRC)
Plates & flat steel products
Metallic coated steel
Colour-coated steel

Why is this a positive sign for steel shares?

Control over cheap imports : Steel imports from China, Vietnam, Korea, and Japan at low prices were putting pressure on the domestic market. The imposition of duties will reduce under-priced imports, improving the competitive position of Indian companies.
Support for domestic prices : With reduced import pressure, domestic mills have the scope to maintain or increase prices. HRC prices have seen an increase of ₹3,000-₹5,000 per ton in recent months this is part of the same trend.
Improved margins and earnings visibility : When the risk of price declines is reduced, companies have greater predictability regarding their realizations and cash flows. The stock market typically prices in such policy-supported stability positively which is why several steel stocks have shown strength recently.

Adjustment in Anti-Dumping Duty – Avoiding Double Levy

The government has also amended the anti-dumping duty framework to prevent the simultaneous imposition of both safeguard duty and anti-dumping duty on the same import.

If a safeguard duty is in effect, the anti-dumping duty will be adjusted by that amount.
This is a WTO-compliant (trade-compliant) approach.
The policy remains clear and stable for investors and companies.

The real prices of steel are going up.

Since the beginning of 2026, the Indian steel market has witnessed a continuous increase in the prices of Hot Rolled Coil (HRC) and other major steel products. Domestic mills have raised prices twice to improve their margins once in December and again in January. Such consistent increases also indicate an improvement in the demand-supply balance in the market. According to industry reports, domestic HRC and CRC prices increased by approximately 4% in January 2026, while products like rebar saw a surge of around 7%. This suggests that the price increase is not merely due to inventory adjustments, but reflects a genuine rise in steel prices.

Steel price benchmarks 2026

Steel products	Current price (approx.)	Note
HRC (India Ex-Y Mumbai)	₹53,800/tonne	According to data from February 3, 2026
CRC (India Ex-Y Mumbai)	₹61,200/tonne	Flat steel rate
HR Plate (India)	₹55,100/tonne	Plate rate
Rebar (Trade Level)	₹54,500/tonne	14% MoM retail price data in January
HRC-Rebar Spread	-₹2,500	Reverse spread signal

India’s steel exports are strong, and this is impacting its stock prices.

Between 2025 and 2026, India’s steel exports have shown significant growth. This is a major reason why “steel share prices are increasing” and why investors are being attracted to the sector.

Duration	Data	Description
April–November 2025	5.77 million tons (YoY +31%)	India recorded a 31% increase in total steel exports during this period largely due to increased buying driven by preparations in the European Union.
CY 2025 (Calendar Year)	8.59 million tons (YoY +4%)	Exports are projected to be up 4% in 2025 with exports gaining momentum again, particularly in the second half of the year.
Export to EU	2.46 million tons (YoY +45% in Apr–Nov)	The European Union influenced forward purchasing, which led to increased deliveries of flat steel products such as HRC and CRC.

CBAM and Europe’s Role

Although the European Union’s Carbon Border Adjustment Mechanism (CBAM) came into effect in 2026 imposing carbon costs on imported steel — European buyers still made advance purchases at the end of 2025 to stock up before the new regulations took effect.

Domestic Demand-Supply Balance Strengthens : When exports increase, domestic market inventory decreases, leading to better utilization of production capacity. This reduces downward pressure on prices and allows companies to command better rates.
Improved Margins and Earnings Confidence : The premium rates received for exports can differ from domestic rates especially in niche markets leading to improved profitability and margins for companies. Investors view this as a positive indicator for future earnings.
India’s Role in Global Balance : As production slowed or policy pressures increased in countries like China and others, India leveraged its manufacturing capacity and export network. This shifted foreign demand towards India, which in turn drives up steel stock prices.

Why is domestic steel demand increasing, and what are the implications?

Domestic Steel Demand Trends (Figures valid for 2025–26)

According to recent industry estimates, steel consumption in India is steadily increasing. A report by the rating agency ICRA indicates that domestic steel demand will grow at a robust rate of approximately 8% in fiscal year 2025–26 (FY26), translating to an additional requirement of around 11–12 million tonnes (MT). This growth is primarily driven by strong activity in the infrastructure, construction, and automobile sectors.

Year	Domestic steel demand growth (%)	Estimated additional demand
FY25/2026	8%	11-12 million tons of additional demand
2025–26	9% (according to other estimates)	Consistently strong industrial use

Homes, infrastructure, and manufacturing are the main consumers.

Infrastructure Development: Strong demand persists due to large government projects such as roads, railways, freight corridors, and metro projects.
Construction and Real Estate : Construction activities are increasing in urban and semi-urban areas, leading to higher demand for thermal, rebar, and structural steel.
Manufacturing and Automobiles : The manufacturing industry and automobile production are experiencing a surge, resulting in robust demand for various steel products such as plates, sheets, and rolls.

Why Steel Shares Price Is Increasing

Import Protection Provides Price Support : The government’s imposition of safeguard duties on flat steel has curbed cheap imports. This is helping domestic companies maintain better pricing and has reduced pressure on margins. This is a direct positive signal for steel stocks.
Mills Implement Consecutive Price Hikes : In recent months, several steel mills have increased prices for HRC and other products multiple times. When companies raise actual product prices, the market interprets this as a sign of improved future revenue.
Export Growth Balances Demand : The recent increase in steel exports has eased pressure on domestic supply. Strong orders from the EU and other markets have led to improved capacity utilization which supports share prices.
Domestic Demand + Capex Cycle : Infrastructure and construction demand remains strong, and companies like SAIL and NMDC are increasing capital expenditure (capex). Increased capex indicates that companies are confident about future demand.

Read Also: Top Steel Penny Stocks in India

Removal or weakening of Safeguard Duty : Currently, steel stocks are receiving significant support from the government’s safeguard duty. If this duty is removed or the rate is reduced in the future, cheaper imports could surge again potentially putting pressure on domestic prices and stock values.
Sharp decline in Global Steel Prices : Steel is a global commodity. If international steel prices fall sharply, Indian mills may also have to lower their rates which could quickly change market sentiment.
Resurgence of Dumping from China : If China or other Asian countries start exporting surplus steel at low prices, it could lead to an oversupply in the Indian market. This would impact both margins and pricing power.
Rapid increase in Domestic Capacity : If new capacity (new plants/blast furnaces) in India comes online faster than expected, the increased supply could put pressure on prices especially in flat steel.
Slowdown in Domestic Demand : Infrastructure and construction demand are currently the basis of the rally. If government capital expenditure or real estate activity slows down, steel consumption could decrease which would be a negative signal for stocks.
Margin Pressure from Raw Material Costs : Rising costs of met coke, iron ore, and energy can squeeze companies’ margins. If final steel prices don’t rise as fast as costs, profit expectations could weaken.

Conclusion

The rally seen in steel stocks is not just short-term enthusiasm. The government’s safeguard duty, rising steel prices, strong export orders, and robust domestic infrastructure demand are all contributing to supporting the sector. However, the steel business is cyclical, so instead of investing blindly, it would be wise to make decisions based on data and quarterly results.

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Frequently Asked Questions (FAQs)

Why are steel share prices increasing in India?
Government safeguard duties, rising steel prices, and strong demand these three factors are supporting the share prices.
Why are steel share prices increasing day by day?
Policy news, price hikes, and continuous buying by investors are creating daily momentum.
Does the safeguard duty benefit steel companies?
Yes, it reduces cheaper imports and allows domestic companies to get better prices.
Do higher steel prices help steel stocks?
In most cases, yes, because it leads to expectations of better earnings for the companies.
Can steel stocks correct from here?
Yes, a decline is possible if global prices or demand weakens.

February 13, 2026

Top 10 Best Books on ETF Investing for Beginners & Experts

ETF has changed the dynamics of the investment world. It offers affordability and gives you the benefit of diversification. But to reduce the chances of error, one must read books on ETF Investing.

In today’s blog post, we will give you an overview of the top 10 best books for ETF investing.

What is ETF Investing?

An ETF, or Exchange Traded Fund, is a type of investment tool that consists of different kinds of assets, such as equities and commodities, and is traded on a stock exchange like any other stock. And to invest in ETFs, one is required to have a demat and trading account.

Top 10 Best Books on ETF Investing

The Bogleheads’ Guide to Investing
A Random Walk Down Wall Street
The Little Book of Common Sense Investing
The ETF Book: All You Need to Know About Exchange-Traded Funds
ETF Investment Strategies: Best Practices from Leading Experts
The Only Guide to a Winning Investment Strategy You’ll Ever Need
Global Asset Allocation
The Ivy Portfolio
ETF Strategies Under Different Market Conditions
Invest with the Fed

Book Name	Author(s)	Year of Publication
The Bogleheads’ Guide to Investing	Taylor Larimore, Mel Lindauer & Michael LeBoeuf	2006
A Random Walk Down Wall Street	Burton G. Malkiel	1973
The Little Book of Common Sense Investing	John C. Bogle	2007
The ETF Book: All You Need to Know About Exchange-Traded Funds	Richard A. Ferri	2007
ETF Investment Strategies: Best Practices from Leading Experts	Aniket Ullal	2013
The Only Guide to a Winning Investment Strategy You’ll Ever Need	Larry E. Swedroe	1998
Global Asset Allocation	Mebane T. Faber	2015
The Ivy Portfolio	Mebane T. Faber & Eric Richardson	2009
ETF Strategies Under Different Market Conditions	Aniket Ullal	2013
Invest with the Fed	Robert R. Johnson, Gerald R. Jensen & Luis Garcia-Feijoo	2015

Overview of the Top 10 Best ETFs Book

1. The Bogleheads’ Guide to Investing by Taylor Larimore, Mel Lindauer & Michael LeBoeuf

The book is based on the investing philosophy of John C. Bogle, the founder of Vanguard. It is about long-term and low-cost investments in index funds and ETFs. The book is written in an uncomplicated and practical manner, explaining asset allocation, risk management, and tax efficiency in a manner that can be easily understood and implemented by ordinary investors.

Why It Is Great: It eliminates market noise and hype and advocates discipline and simplicity. Best suited to the investor who prefers to create wealth regularly, without being too concerned with any particular stock or the market as a whole.

2. A Random Walk Down Wall Street by Burton G. Malkiel

This classic investment book argues that markets are highly efficient and that it is very hard to consistently predict stock movements. Burton Malkiel presents the reasons why they often fail to consistently outperform the market over time and the advantages of diversification and index investing. The book is a research and practical examples make the complex ideas so easy to read.

Why It Is Great: It can prevent investors from making expensive mistakes and unrealistic expectations. The book promotes rationality and thinking long-term. Its everlasting knowledge makes it worth reading for both the novice and the seasoned investor who needs to know how markets actually operate.

3. The Little Book of Common Sense Investing by John C. Bogle

This book is by John C. Bogle and is a firm believer in investing in low-cost index funds and ETFs. It describes the ways in which returns are reduced by high fees and high turnover. Through clear reasoning and statistics, Bogle demonstrates how everyday investors have historically outperformed many professionals over long periods by minimizing costs.

Why It Is Great: It presents strong investing knowledge in simple language. It is straightforward, pragmatic and supported by the evidence over time. Ideal where the investor is seeking a simple approach as it is all about stability, patience and compounding as opposed to market timing.

4. The ETF Book: All You Need to Know About Exchange-Traded Funds by Richard A. Ferri

The book provides an in-depth overview of ETFs, their functionality, the advantages, and the various types of ETFs. It includes equity, bond, commodity and sector ETFs, trading strategies and risks. The book itself is logically organised and can be helpful not only to those who are beginners in investments but also to some intermediate readers.

Why It Is Great: It simplifies the ETFs without being too simplistic with details which matter. The ETFs are chosen and used in an effective manner, which makes readers sure about it. This is a very good source of information for an investor who would like to have a good background before creating an ETF-based portfolio.

5. ETF Investment Strategies Best Practices from Leading Experts by Aniket Ullal

The book is a collection of wisdom from professional ETF managers and institutional investors. It discusses modern ETF techniques like factor investment, tactical allocation and risk management. It is more data-driven and strategy-based, which is why it is appropriate for those investors who are already familiar with the basics of ETFs.

Why It Is Great: It provides practical insights into the world in a way beyond theory. The readers are informed about the use of ETFs by professionals through market cycles. Best suited to investors who are interested in perfecting their ETF strategy and creating more resilient and diversified portfolios.

6. The Only Guide to a Winning Investment Strategy You’ll Ever Need by Larry E. Swedroe

This is a book that questions conventional wisdom of investing and focuses on a disciplined, rules-based approach to investing. It is rather concerned with asset allocation, rebalancing and long-term planning than stock picking. The style of writing is interesting and helpful because complicated things become available to retail investors.

Why It Is Great: It encourages uniformity and not emotional judgments. The strategies are easy, replicable and can be used by most investors. A great book to read when one gets fed up with all those confusing pieces of advice and wants some clarity in their investment process.

7. Global Asset Allocation by Mebane T. Faber

This book was written by Meb Faber and describes the effectiveness of diversifying in global asset classes in order to risk-adjust and enhance returns. It deals with stocks, bonds, commodities and real assets in various countries. The book presents a mixture of historical facts and practical plans for developing globally diversified portfolios.

Why It Is Great: It broadens an investor’s mindset to domestic markets. The data-backed method assists in risk management in the downturn market. Ideal for long-term investment where stability is achieved by diversification into the global market.

8. The Ivy Portfolio by Mebane T. Faber & Eric Richardson

This book focuses on the asset allocation formula that was based on the Ivy League endowment funds. It concentrates on diversification of asset classes and is simple in trend-following in the management of risk. The author describes how ETFs can be used to replicate institutional strategies by individual investors.

Why It Is Great: It introduces institutional investing concepts to retail investors. The plan is methodical and simple to pursue. Especially effective when investors want to have downside protection in unstable market periods.

9. ETF Strategies Under Different Market Conditions by Aniket Ullal

The book offers insights into the application of ETFs in the bull markets, the bear markets, and the sideways markets. It describes how sector rotation, defensive investment, and hedging worked using ETFs. It is about adjusting portfolios to shifting market conditions instead of a general approach.

Why It Is Great: During volatility, the investors get to know how to modify their strategies rather than panicking. An interesting book for those willing to have readable solutions to ETFs across a market cycle.

10. Invest with the Fed by Robert R. Johnson & Gerald R. Jensen

This book describes the role played by Federal Reserve policies in shaping markets and how investors can make their strategies conform to these policies. It emphasises how interest rates, liquidity and monetary policy affect the price of the assets.

Why It Is Great: It assists the investor in comprehending the macro picture that drives markets. The lessons come in handy, particularly when the rates are increasing or decreasing. Best suited to investors who need macro driven ETF as well as asset allocation techniques.

Conclusion

On a concluding note, ETF is the simplest and most methodical way of investing into market. It offers diversification and a long-term approach to investing. If you are a beginner and looking to start your investment journey, you must read a few books on ETF investing. These books help in avoiding common mistakes and making a well-diversified portfolio. However, it is advised to consult your investment advisor before making any investment decision.

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Frequently Asked Questions (FAQs)

What does ETF investing mean?
ETFs refer to the Exchange Traded Fund and is a investment tool offered by an asset management company. It is a passive form of investing, and the fund is invested in a basket of assets such as equity, commodities, etc.
How can ETF investing books help in passive investment?
ETF investment books can help an investor in creating a passive, low-cost, diversified investment portfolio for long-term wealth creation.
Name the best books for ETF investing?
The best books for ETF investing include The Bogleheads’ Guide to Investing, A Random Walk Down Wall Street, The Little Book of Common Sense Investing, etc.
How can I invest in ETFs?
To invest in ETFs, you should have a demat and trading account, as ETFs can be purchased on the stock exchange during market trading hours. To invest in ETFs, you can open a lifetime free trading and demat account with Pocketful, as it also offers free brokerage on all delivery trades, and its mobile application comes with advanced trading platforms.
Does reading ETF investing books guarantee returns?
No, reading and investing based on the ETF investing books does not guarantee profit or returns. Investors are required to take inform decision and returns of ETFs are linked to the market, hence they can be volatile in the short run.

February 13, 2026

Income Tax Slab FY 2026-27 Explained

Before you start your income tax planning for FY 2026-27, it’s important to be aware of a crucial update: For the financial year 2026-27, Finance Minister Nirmala Sitharaman has not made any changes to the existing income tax slabs under the revised tax regime. This means the slab rates will remain the same, but the actual tax impact may vary for each taxpayer due to rebates, standard deductions, and compliance rules. In this article, we will understand the latest income tax slabs, applicable rates, and the real impact of the calculations in a straightforward and easy-to-understand manner.

What Is an Income Tax Slab?

An income tax slab means that your total taxable income is divided into different segments (ranges), and a different tax rate is applied to each segment. This is called a progressive tax system – meaning that as income increases, the marginal tax rate also increases. The objective is to ensure that lower-income individuals bear a lower tax burden, while higher-income groups pay proportionally more tax.

Tax System Comparison

Tax System Type	How it works	The situation in India
Slab-based Tax	Different tax rates apply to different income ranges.	Applicable to Individuals/HUF
Flat Tax	A single rate applies to the entire taxable income.	Not applicable to individual tax.
Special Rate Tax	A different fixed rate applies to certain income levels.	Capital gains, lottery, crypto etc.

Income Tax Slab for FY 2026-27 — New Tax Regime

Taxable Income (₹)	Tax Rate
Up to ₹4,00,000	Nil
₹4,00,001 – ₹8,00,000	5%
₹8,00,001 – ₹12,00,000	10%
₹12,00,001 – ₹16,00,000	15%
₹16,00,001 – ₹20,00,000	20%
₹20,00,001 – ₹24,00,000	25%
Above ₹24,00,000	30%

The tax slab structure has not been changed in Budget 2026, but emphasis has been placed on keeping the new tax regime simple and compliance-friendly. This regime is now the default option.

New Tax Regime (FY 2026–27) — Key Features & Benefits

The new tax regime for FY 2026–27 includes a slab structure along with some practical features that directly benefit salaried and pensioner taxpayers.

Feature	What are the rules?	Practical Benefit
Section 87A Rebate	A rebate of up to ₹60,000 is available on taxable income up to ₹12,00,000.	Effectively, the tax on income up to ₹12 lakh can be zero.
Standard Deduction	₹75,000 for salaried employees and pensioners.	For salaried individuals, the effective tax-free level can reach up to ₹12.75 lakh.
Marginal Relief	Available for incomes slightly above ₹12 lakh.	Relief from a sudden tax jump when income increases slightly.
Surcharge Cap	Under the new regime, the maximum surcharge is 25% (for income above ₹2 crore).	Lower surcharge cap for high-income taxpayers
Uniform Slabs	The same slab rates apply to all age groups.	There is no separate tax slab or confusion for senior/super senior citizens.

Old Tax Regime – Slab Rates

The Old Tax Regime continues in FY 2026–27, and there have been no changes to the slab rates. A key feature of this regime is that the slab limits vary depending on the taxpayer’s age, and several deductions and exemptions can be claimed. If an individual has significant deductions such as those under Section 80C, HRA, and home loan interest, the old regime can prove beneficial in many cases.

Old Regime Slabs – Individuals (< 60 years), NRI, HUF

Taxable Income (₹)	Tax Rate
Up to ₹2,50,000	Nil
₹2,50,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

Old Regime Slabs – Senior Citizens (60–79 years)

Taxable Income (₹)	Tax Rate
Up to ₹3,00,000	Nil
₹3,00,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

Old Regime Slabs – Super Senior Citizens (80 years or older)

Taxable Income (₹)	Tax Rate
Up to ₹5,00,000	Nil
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

Old Tax Regime – Main Benefits (Deduction Based System)

Benefit	Limit / Rule
Standard Deduction	₹50,000 (salaried & pensioners)
Section 87A Rebate	₹12,500 (for income up to ₹5 lakh)
Section 80C	Up to ₹1.5 lakh
Section 80D	Health insurance deduction
HRA / LTA	Allowed
Home Loan Interest (Sec 24)	Up to ₹2 lakh
Education Loan (80E)	Interest deduction

New vs Old Tax Regime Comparison (FY 2026–27)

Taxpayers have two options available in FY 2026–27: the New Tax Regime and the Old Tax Regime. Choosing the right regime directly impacts your final tax bill. The new regime offers lower slab rates and a higher rebate, but deductions are limited. The old regime has comparatively higher rates, but a longer list of deductions and exemptions is available.

Old vs New Tax Regime

Parameter	New Tax Regime	Old Tax Regime
Tax Slabs Structure	More slabs, gradual rate increase	Fewer slabs, rapid rate increase.
Basic Exemption Limit	₹4,00,000 (same for all age groups)	Age-based – ₹2.5L / ₹3L / ₹5L
Standard Deduction	₹75,000 (salaried & pensioners)	₹50,000
Section 87A Rebate	₹60,000 (up to ₹12L income)	₹12,500 (income up to ₹5 lakh)
Section 80C Deduction	Not allowed	Up to ₹1.5L is allowed.
Section 80D (Health Insurance)	Not allowed	Allowed
HRA Exemption	Not allowed	Allowed
LTA Exemption	Not allowed	Allowed
Home Loan Interest (Sec 24)	Not allowed	Up to ₹2L
Education Loan Interest (80E)	Not allowed	Allowed
Other Chapter VI-A Deductions	Mostly not allowed	Widely allowed
Maximum Surcharge Rate	25% (high income cases)	37% (high income cases)
Marginal Relief	Available (₹12L crossing cases)	Available (high surcharge bands)
Slab by Age	Same for all	Age-wise different
Documentation Need	Low	High (proof required)
Filing Complexity	Simple	Detailed
Default Option	Yes (AY 2024-25 onward)	Detailed

Surcharge & Cess on Income Tax Slab FY 2026–27

Even after calculating tax based on the income tax slabs, the final payable tax doesn’t end there. High-income taxpayers are subject to a surcharge, and a 4% Health and Education Cess is added to the tax liability of all taxpayers.

Surcharge Rates

Total Income (₹)	Surcharge Rate (New Regime)
Up to ₹50 lakh	No surcharge
₹50 lakh – ₹1 crore	10%
₹1 crore – ₹2 crore	15%
₹2 crore – ₹5 crore	25%
Above ₹5 crore	25% (capped in new regime)

New vs Old Regime – Maximum Surcharge Comparison

Maximum Surcharge Rate	Maximum Surcharge Rate
New Tax Regime	25%
Old Tax Regime	37%

Income Tax Changes Effective from 1 April 2026 – Budget 2026–27

1. New Tax Regime Continues

Rule	Updated Position (From 1 April 2026)
New tax regime	Continue & strengthened
Tax-free income (new regime)	Effective zero tax up to ₹12,00,000
Salaried effective zero level	₹12.75 lakh (after a standard deduction of ₹75,000)
Slab rates	No change announced
Objective	Stability + simplicity

2. Section 87A Rebate – Continued Relief

Provision	Updated Rule
Section 87A rebate	Continue
Maximum rebate	₹60,000
Eligible income	Up to ₹12 lakh
Result	Zero tax liability possible

3. Standard Deduction & Senior Citizen Relief

Category	Deduction Rule
Salaried / Pensioners	₹75,000 standard deduction continue
Senior citizen deduction limit	₹50,000 ₹1,00,000 increased
Impact	Lower taxable income

3. Interest Income Exemptions – Continue

Section	Limit
Section 80TTA	₹50,000 (individuals)
Section 80TTA	₹1,00,000 (senior citizens)
Applies to	Interest income

4. Compliance Simplification – New Tax Framework

Area	Change
New Income Tax Act	Income Tax Act 2025 applicable from 1 April 2026
Rules	Draft Income Tax Rules 2026 introduced
Total rules	511 – 333
Total forms	399 – 190
Form design	Simplified & user-friendly
Goal	Easy filing & less confusion

5. Filing & Procedure Relaxations

Compliance Area	Update
ITR filing last date	ITR-1/2: 31 July
Non-audit business/trust	31 August
Revised return	Allowed till 31 March
15G/15H filing	Depository route allowed
Lower/Nil TDS certificate	Online process

6. TDS / TCS Rationalisation

Area	New Rule
Foreign travel TCS	Reduced to 2%
LRS education/medical TCS	Reduced to 2%
Certain TDS/TCS rules	Rationalised

7. Special Exemptions Introduced

Category	Tax Treatment
MACT compensation interest	Fully exempt
Disability pension (forces)	Exempt
Land acquisition (RFCTLARR)	Exempt

8. Capital Market & Investment Tax Changes

Area	Update
Share buyback	Taxed as capital gains
STT – Futures	0.02% – 0.05%
STT – Options	0.15%
SGB exemption	Only if held till maturity & original issue

Conclusion

The tax structure for FY 2026-27 is stable, but who will actually benefit depends entirely on your income pattern and deductions. The new regime is simpler, while the old regime might still be useful for those with significant deductions. Choosing a regime without comparing them could be a mistake. Calculating your tax liability before the end of the financial year is the smartest move.

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Frequently Asked Questions (FAQs)

Did the Income Tax Slabs change in FY 2026–27?
No, there have been no changes to the slab rates under the revised new tax regime.
Is income up to ₹12 lakh truly tax-free?
Yes, due to the rebate under the new regime, the effective tax on taxable income up to ₹12 lakh can be zero.
What is the standard deduction in the new tax regime?
A standard deduction of ₹75,000 is available for salaried and pensioned individuals.
Can I still choose the old tax regime?
Yes, the option is available. The old regime might be better if you have significant deductions.
Do tax slabs apply to capital gains income?
No, special tax rates apply to capital gains, not the slab rates.

February 12, 2026

Union Budget 2026: Full list of Government schemes

The Union Budget 2026 has been shared by the finance minister Nirmala sitharaman with a great vision of Viksit Bharat. The budget of 2026 is based on three main Kartavyas (duties). These duties are to speed up the economy, help every family grow, and make sure development reaches every person. If you are a student, a farmer, sports person, or a business owner, you will be looking for the list of government schemes to see how the government is helping you.

List of government schemes in the union budget 2026?

The Union Budget 2026 has announced new plans for almost every part of our lives. From better hospitals to faster trains and special help for our cultural sites, there is a lot to cover. Following are the mentioned schemes

1. Education and Skill Development

The government is spending INR 1.39 lakh crore on education this year.This is an 8.27 % increase over the Budget Estimate for 2025-26. The focus is on making sure students don’t just study but also get ready for real jobs.

University Townships: Five new university townships will be built. These will be located near major industrial and logistics areas so students can learn close to where the big companies are.
Girls’ Hostels: In every single district, the government will set up one girls’ hostel. These are for women studying in higher education for Science, Technology, Engineering, and Mathematics (STEM).
AVGC Content Creator Labs: For students who love animation and gaming, 15,000 secondary schools and 500 colleges will get content creator labs.
National Institute of Design (East): A new design institute will be opened in Eastern India to help talented students from that region.
Education to Employment and Enterprise Committee: A high level team will be formed to make sure our education matches what employers need.
Atal Tinkering Labs: To encourage small scientific ideas, 50,000 new labs will be opened in schools over the next five years to promote STEM education.

2. Healthcare and Wellness

The central government allocated about ₹1.06 lakh crore to the Ministry of Health and Family Welfare this year. The healthcare sector is getting a big boost to make treatment cheaper and better for everyone.

Biopharma SHAKTI: Under this scheme INR 10,000 crore plan to make India a world leader in making advanced medicines, for disease cancer and diabetes and boosting R&D and innovation in the biopharmaceutical sector..
Regional Medical Hubs: Five new medical hubs will be developed across the country. This includes large complexes with hospitals, medical colleges, and research labs all in one place to help India become a top leader in medical tourism.
Allied Health Professionals: The government plans to train 1 lakh new health workers like nurses and therapists over the next five years.
National Caregiver Training: Around 1.5 lakh people will be trained to take care of elderly people and patients recovering from surgery.
Mental Health and Neuro Science (NIMHANS 2): A second large mental health institute will be built in North India, and existing ones in Ranchi and Tezpur will be upgraded.
Ayurveda Institutes: Three new All India Institutes of Ayurveda will be opened to promote traditional Indian medicine.

3. Infrastructure and Connectivity

The government wants to make travel and business much faster within the country.

High Speed Rail Corridors: Seven new fast rail routes will be built. Some major routes are like Mumbai to Pune, Pune to Hyderabad, Hyderabad to Bengaluru, and Delhi to Varanasi.
National Waterways: 20 new national waterways will be started to move goods through rivers, which is cheaper and better for the environment , in the next five years.
City Economic Regions (CER): The government will develop cluster of cities and give them 5,000 crore each to improve their roads and utilities. This will help Tier 2 and Tier 3 cities grow faster.
Dedicated Freight Corridors: A new train line for cargo will connect Dankuni in the East to Surat in the West.
Electric Buses: 4,000 new electric buses will be launched, majorly focused on the Eastern parts of India for cleaner public transport, better connectivity, and regional infrastructure development.

4. Tourism, Culture, and Heritage

The budget gives a lot of importance to our history and makes India a world class tourist destination.

15 Archaeological Sites: 15 historic sites will be turned into experiential cultural hubs. These include sites like Lothal and Dholavira in Gujarat, Sarnath and Hastinapur in Uttar Pradesh, Agrohai in Haryana, Adichanallur in Tamil Nadu, and the Leh Palace.
Upskilling Guides: 10,000 tourist guides will be given world class training in collaboration with the Indian Institutes of Management (IIMs) to help visitors have a better experience. The focus is on deepening guides’ knowledge of history, culture, storytelling techniques, safety practices and visitor-centric services.
National Destination Digital Knowledge Grid: A national digital library will be made to document every important spiritual and heritage site in India.
Thematic Trails: The government will develop mountain trails in Himachal and Uttarakhand, turtle trails on the coasts of Odisha and Kerala, and bird watching trails at Pulicat Lake.
Buddhist Circuits: A special scheme will be launched for the North East to improve roads and facilities for people visiting Buddhist temples and monasteries.

5. Agriculture and Small Businesses

Bharat VISTAAR: This is a multilingual AI based app for farmers. It gives advice to farmers in many Indian languages about weather, soil, and crops to help farmers earn more.
PM Matsya Sampada Yojana (Fisheries): The fisheries sector received a dedicated allocation of INR 2,530 crore aimed at modernising fish production and initiatives will be undertaken for the integrated development of 500 reservoirs and Amrit Sarovars to strengthen the fisheries value chain.
Mahatma Gandhi Gram Swaraj: This plan will help rural artisans who make khadi and handloom products to brand their goods and sell them to the whole world.

6. Services and Employment (Yuva Shakti)

The government is moving from just giving work to building skills. This helps youth get better-paying jobs in the services sector.

Education to Employment (EEE) Committee: A high-powered group will now focus on the services sector. Their job is to make sure what you learn in college helps you get a job in big companies or start your own business.
New Rural Employment Scheme: A new plan will replace the old MGNREGA on 1^st April 2026, It will offer different wages for unskilled, semi-skilled, and skilled workers. This promotes skill development amongst blue collar jobs. If you have a skill, you will earn more money.
Caregiver Training Scheme: 1.5 lakh people will be trained to take care of elderly people and patients. This is a growing field with many new jobs.
Allied Health Professionals (AHP): 1 lakh new health care workers will be trained in fields like X-ray technology and physiotherapy over the next five years.
SME Growth Fund: 10,000 crore fund to help small businesses grow. When these businesses grow. The main objective is to provide equity (not just loans) support to SMEs.

7. Sustainability and Green Growth

The government wants a cleaner India. They are spending a lot of money to make sure our growth does not hurt the environment.

PM Surya Ghar (Muft Bijli Yojana): ₹22,000 crore has been set aside for rooftop solar. If you install solar panels, you can get up to 300 units of free electricity every month.
Carbon Capture, Utilisation and Storage Mission: A ₹20,000 crore plan to help big factories (like steel and cement) reduce their pollution.
Rare Earth Corridors: New zones in states like Odisha, Kerala, Andhra Pradesh and Tamil Nadu will be set up to find minerals used in electric car batteries.
National Green Hydrogen Mission: The government continues to support making “clean fuel” from water. This will help buses and trucks run without causing smoke.
Waste-to-Wealth: More “GOBARdhan” projects will be started in villages to turn cow dung and organic waste into useful biogas.

8. Sports (Yuva Shakti & Pride)

The government wants India to become a global sports power. They are spending more money to find young talent and build world-class stadiums.

Khelo India Mission: This is a huge 10-year plan to change how sports work in India. It will focus on finding early talent, training better coaches, and using high-tech science to improve performance.
Sports Goods Manufacturing Initiative: A special ₹500 crore fund has been set up to help Indian companies manufacture high-quality bats, balls, and shoes. The goal is to make India a world hub for sports equipment.
Target Olympic Podium Scheme (TOPS) for Coaches: Just like our top athletes, even coaches will now get special financial help and training to produce more medal winners for the 2030 Commonwealth Games and 2036 Olympics.

Positives and negatives of the union budget 2026

Positives

Job Creation: Huge spending on roads, trains, and medical hubs will create millions of jobs for young people.
Cheaper Health: Removing taxes on 17 cancer drugs is a lifesaving step for many families.
Youth Focus: From AI labs in schools to special hostels for girls, the budget puts the next generation first.
Small Business Support: The SME Growth Fund and mandatory rules for fast payments mean small business owners will have less stress.

Negatives

Stock Trading Costs: People who trade in the stock market will have to pay more tax (STT) on futures and options.
No Income Tax Change: All the tax slabs for individuals remain the same, which might feel like a missed opportunity for the middle class.
Imported Luxury Items: Things like luxury watches and imported alcohol will become more expensive.

Conclusion

The Union Budget 2026 is a forward looking budget which tries to cover every aspect of Indian life. It helps to build a foundation for the future with better education, medical facility, and world class infrastructure. While it might be a bit tough budget for short term traders, the long term benefits for students, farmers, and content creators are very clear. As India moves toward Viksit Bharat by 2047, these schemes give us the platform to grow. If you are ready to start your financial journey, tools like Pocketful can help you invest in this growing economy without worrying about high charges.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	Union Budget 2026 Highlights: Key Announcements, Tax, Capex & Sectors
2	Union Budget 2026 Expectations: Tax Relief, Sector Boosts & Market Impact
3	Fiscal Deficit Explained: Meaning, Formula, Causes & Impact \| Budget 2026–27
4	Government Bonds India – Types, Advantages, and Disadvantages of Government Bonds
5	Best Gold Investment Schemes in India

Frequently Asked Questions (FAQs)

What is the meaning of the Union Budget?
The Union Budget is the yearly plan of the government. It tells us how the government will get money from taxes and how it will spend it on public services like roads, schools, and defense.
How will the new University Townships help students?
These townships will be built near industrial areas. This means you will not only get a good education but also be very close to companies where you can find internships and jobs.
What are the benefits of the 15 Archaeological Sites development?
It means our history will be preserved better. You will see new walkways and uses of technology like VR to learn about the past. It will also create many jobs for local guides and researchers.
How to use the Bharat VISTAAR tool for farming?
You can access it on your phone. You just need to select your language and enter your crop and soil details. The AI tool will then give you daily advice on what to do for a better harvest.
How can I save on medical expenses after this budget?
The government has removed customs duty on 17 life saving cancer drugs. Also, if you need to send money abroad for a family member’s treatment, the tax (TCS) has been reduced from 5 percent to 2 percent.

February 12, 2026

Top Nifty Metal ETFs in India 2026

Metals quietly shape everything around us. From homes and highways to power plants and factories, growth depends on them. This is why interest in metal ETF in India has been steadily rising. But selecting which one to invest in can be hard.

This is why many investors now choose a Nifty Metal ETF. These are known for broad and balanced exposure. A metals ETF tracks the Nifty Metal Index. This represents India’s major steel, aluminium, and mining companies. This structure helps reduce company-specific risk and keeps investing straightforward.

But have you ever wondered which are the top ones to invest in? Well, then, explore the top Nifty Metal ETF list here.

What is a Nifty Metal ETF?

A Nifty Metal ETF is an exchange-traded fund that invests in companies forming the Nifty Metal Index. This index includes major Indian metal and mining companies across steel, aluminium, and other core metals. When you invest in this ETF, you gain exposure to the overall metal sector instead of relying on one or two stocks. The fund’s performance largely depends on metal prices, global demand, and infrastructure activity.

Key Features of Nifty Metal ETF

Tracks the performance of the Nifty Metal Index.
Allows investors to have exposure to leading metal and mining companies.
Diversification across multiple metal stocks helps with better risk management.
Trades on the stock exchange like a share, ensure transparency.
Lower cost compared to actively managed funds helps to book better profits.
Suitable for investors seeking sector-based exposure and new to this segment.

Pros and Cons of Nifty Metal ETF

A Nifty Metal ETF can work well during commodity upcycles and infrastructure-led growth phases. At the same time, it is important to understand the risks before investing. So, let us understand the pros and cons of the same.

Pros

Easy exposure to the entire metal sector.
Reduces risk compared to investing in single metal stocks.
Benefits from rising metal prices and infrastructure spending.
Transparent portfolio linked to a defined index.
Low expense ratio compared to active sector funds.

Cons

Highly cyclical and sensitive to global commodity prices and global GDP Growth.
Can be volatile during economic slowdowns.
No downside protection in falling metal cycles.
Limited diversification outside the metal sector.
Not ideal for conservative or short-term investors.

Read Also: Best Commodity ETFs in India

List of Top Nifty Metal ETFs in India

If you are planning to invest in a Nifty Metal ETF, knowing the available options matters. While all these ETFs track the same index, there are still some differences. And these are the points that you need to consider while investing.

The table below brings together the key details of leading Nifty Metal ETFs in India, making it easier to compare them at a glance and choose what suits your investment approach.

Name	NAV (INR)	AUM (INR Cr.)	Average Volume (1M)	52W High (INR)	52W Low (INR)	Expense Ratio (%)
ICICI Pru Nifty Metal ETF	12.27	1034	3,60,26,662	12.69	7.35	0.40
Mirae Asset Nifty Metal ETF	12.29	157	1,83,18,519	12.85	7.73	0.32
Groww Nifty Metal ETF	11.62	14	18,73,037	12.19	10.03	0.40

(As on 10 Feb, 2026)

1. ICICI Pru Nifty Metal ETF

It is a sector-focused ETF. This is one that aims to mirror the performance of the Nifty Metal Total Return Index. The index consists of 15 leading Indian metal and mining companies. This makes it one of the ETFS that is not just prominent but also offers investors a straightforward way to participate in the metals cycle. All this is done with no need for selecting individual stocks.

The portfolio is dominated by some of the top companies in the industry, such as Tata Steel, Hindalco Industries, JSW Steel, Vedanta, and Adani Enterprises. All these companies together form a significant portion of the index. The fund follows a passive replication strategy. This means the stock weights are aligned with the index.

With a higher AUM and better liquidity compared to peers, this ETF is suitable for investors who plan to deploy larger amounts or trade more actively. It works best as an option for investors who are looking for equity exposure and want focused exposure to metals.

Return Details

1 Yr Returns	3 Yr Returns
42.77%	31.12%

2. Mirae Asset Nifty Metal ETF

This is also one of the ETFs that track the Nifty Metal Total Return Index. It also invests in the same set of 15 metal and mining companies. The portfolio composition closely mirrors the index. The ETF is one with the major exposure to Tata Steel, Hindalco, JSW Steel, Vedanta.

This ETF is designed for investors who want precise index tracking. This is one which focuses on minimal deviation. Mirae Asset’s version is often noted for maintaining a lower expense ratio. This is also well-known for its relatively low tracking error. This helps the returns to stay closer to the benchmark over time.

Although its AUM is smaller than ICICI’s offering, it appeals to cost-conscious investors is high. This is mainly through the SIPs or with moderate ticket sizes. It is better suited for long-term holding rather than frequent trading due to comparatively lower liquidity.

Return Details

1 Yr Returns	3 Yr Returns
41.03%	21.22%

3. Groww Nifty Metal ETF

This is one of the newest entrants in the field but has gained quite a traction. It tracks the Nifty Metal Index in the same manner as its peers. It provides exposure to the same basket of 15 companies, including Tata Steel, Hindalco Industries, JSW Steel and Vedanta.

The ETF was launched with a lower minimum investment. This makes it accessible to first-time or smaller retail investors. It follows a passive investment approach. Just like the other, this also aims to replicate index returns before expenses.

However, being relatively new, it currently has a much smaller AUM and lower trading volumes. This means investors should be mindful of liquidity. This is one which is not a good option for short runs, or if you plan to enter or exit frequently. It is more suitable for long-term investors who prefer a simple and low-entry way to participate in the metals theme rather than active traders.

Return Details

1 Yr Returns	3 Yr Returns
14.02%	–

Who Should Invest in Nifty Metal ETFs?

Nifty Metal ETFs are not for everyone. They suit investors who understand that metal stocks move in cycles and can be volatile in the short term. So, in short, this is a good option for investment for the following situations:

Investors looking for sector-specific exposure to metal and mining companies.
Those who already hold diversified equity funds and want a focused allocation.
Investors with a long-term investment horizon of at least five years.
Those comfortable with volatility linked to global metal prices and cycles.
Investors who prefer passive investing over picking individual metal stocks.
Investors aiming to benefit from infrastructure and manufacturing growth trends.

Read Also: Best Index ETFs in India

Conclusion

Nifty Metal ETFs offer a simple way to gain exposure to India’s metal and mining sector. By investing in these, you can gain all the benefits of this sector but with no need to follow the socks consistently. This is why you need to have access to correct information.

Pocketful can help you with the process greatly. It is a platform that makes it easy to compare ETFs, place trades, and manage your investments from one place.

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1	Small-Cap ETFs to Invest in India
2	Best Energy ETFs in India
3	Best Silver ETFs in India
4	List of Best Gold ETFs in India
5	Best Debt ETFs to Invest in India

Frequently Asked Questions (FAQs)

How does a Nifty Metal ETF make money for investors?
A Nifty Metal ETF earns returns when metal stocks perform well. This usually happens during periods of strong infrastructure spending, industrial growth, or rising global metal prices.
Is it better to invest in a metal ETF or metal stocks directly?
A metal ETF reduces the risk of betting on one company. It spreads your investment across multiple metal companies instead of relying on a single stock.
Can Nifty Metal ETFs be used for short-term trading?
They can be traded like shares, but short-term movements are unpredictable. This is why, ETFs are good for you when you are looking for a long-term investment.
What affects the performance of Nifty Metal ETFs the most?
There are various factors that can impact the performance. These include global market conditions, production cycles, export and import, and policies.
Should Nifty Metal ETFs be a core or supporting investment?
They work better as a supporting allocation in a diversified portfolio rather than a core investment due to their cyclical nature.

February 12, 2026

Fiscal Deficit Explained: Meaning, Formula, Causes & Impact | Budget 2026–27

The fiscal deficit is a topic of discussion every year during budget presentations, but people often dismiss it as simply “the government’s deficit.” In simple terms, just as a household spends more than it earns, the government also has to borrow to cover its extra expenses. The fiscal deficit for Budget 2026-27 is estimated at approximately 4.3% of GDP. This isn’t always a bad sign if the spending is on development and infrastructure, it can boost growth. In this article, we will understand its meaning, calculation, causes, and effects in a simple way.

What is Fiscal Deficit?

A fiscal deficit occurs when the government’s total expenditure exceeds its total revenue, excluding borrowings. This means the government has to borrow additional money from the market to meet its expenses.

What constitutes the government’s total revenue?

Revenue Receipts : This is the government’s regular income – such as tax collections (Income Tax, GST, Corporate Tax) and non-tax revenue (dividends, fees, licenses, etc.). The government does not have to repay this money.
Capital Receipts : This includes disinvestment, sale of assets, and recovery of loans given. This is not a regular source of income.
Borrowings : When the above two sources of income fall short of expenditure, the government borrows from the market by issuing bonds and securities. This is a means of financing the deficit, not a source of income.

Fiscal Deficit Formula

There is a fixed and official formula for calculating the fiscal deficit, which is used in the budget documents every year.

Fiscal Deficit Formula

Fiscal Deficit = Total Expenditure – (Revenue Receipts + Non-Debt Capital Receipts)

Formula components :

Constituent	What is included?	Meaning
Total Expenditure	Revenue + Capital expenditure	The government’s total annual expenditure
Revenue Receipts	Tax + Non-tax income	Regular income that does not have to be repaid.
Non-Debt Capital Receipts	Disinvestment, Loan recovery	Capital income that is not borrowed

Example :

Item	Amount (₹ trillion)
Total Expenditure	52
Revenue Receipts	34
Non-Debt Capital Receipts	4

Fiscal Deficit = 52 – (34 + 4) = ₹14 lakh crore

India Fiscal Deficit Status: Budget 2026–27 Key Numbers

Indicator	Budget 2026–27 Data	What does it represent?
Fiscal Deficit Target	4.3% of GDP	The government’s estimated total fiscal deficit as a percentage of GDP.
Revised Estimate 2025–26	4.4% of GDP	Revised deficit level of the previous year
Earlier Fiscal Target	Below 4.5% achieved	The government has achieved its previous deficit control target.
Net Market Borrowings	₹11.7 trillion	Net borrowing from the market (dated securities) to cover the deficit.
Public Capital Expenditure	₹12.2 trillion	Capital expenditure on infrastructure and development projects
Debt-to-GDP Ratio (2026–27)	55.6%	Total government debt as a percentage of GDP
Long-Term Debt Target	50±1% by 2030–31	Medium-term debt control target

Where Does the Government Spend So Much?

The biggest reason for a rising fiscal deficit is not simply “overspending,” but rather it’s crucial to examine where the spending is directed. In the 2026-27 budget, the government has clearly emphasized growth-oriented and asset-creating expenditure.

Capital Expenditure Push Emphasis on infrastructure and asset creation :

Capital expenditure (Public Capex) has been increased to approximately ₹12.2 lakh crore in the Budget for 2026–27. This expenditure is for creating long-term assets.

7 new high-speed rail corridors (e.g., Mumbai-Pune, Delhi-Varanasi, Chennai-Bengaluru)
Plan to operationalize 20 new national waterways over the next 5 years
City Economic Regions (CER) for selected cities ₹5,000 crore allocated per CER
Large infrastructure projects have a direct impact on employment and logistics efficiency.

Manufacturing & Strategic Investment :

The government has made several targeted announcements in the 2026-27 budget to strengthen the manufacturing and strategic sectors.

Biopharma Mission : ₹10,000 crore, aiming to make India a global biopharma hub
Semiconductor Mission (ISM 2.0) : focusing on chip design and equipment manufacturing
Electronics Manufacturing Outlay : increased to approximately ₹40,000 crore
Rare Earth Corridors : development in Odisha, Kerala, Andhra Pradesh, and Tamil Nadu
₹10,000 crore for 3 new Chemical : Parks and Container Manufacturing

MSME and small industry support :

Considering the MSME sector as a key pillar of employment and supply chains, special funding has been provided.

SME Growth Fund : ₹10,000 crore for scaling up support to emerging enterprises
Aatmanirbhar Enterprise Support : ₹2,000 crore in additional support for micro-enterprises
TReDS Platform : Mandatory transaction platform for government procurement from MSMEs

Fiscal Deficit vs Budget Deficit vs Revenue Deficit

Criteria	Fiscal Deficit	Revenue Deficit	Primary Deficit
Simple meaning	The amount the government has to borrow to cover its total expenditure.	When the government’s revenue income is less than its revenue expenditure.	The deficit remaining after deducting interest payments from the fiscal deficit.
What does it show?	total borrowing requirement	Imbalance in daily government spending	The actual deficit for the current year (excluding interest on old debt)
Formula	Total Expenditure – (Revenue Receipts + Non-Debt Capital Receipts)	Revenue Expenditure – Revenue Receipts	Fiscal Deficit – Interest Payments
Type of expense	Both revenue and capital expenditures are included.	Only revenue expenses are included.	Adjusted form of fiscal deficit
What does it indicate?	How much will the government have to borrow from the market?	Is the government unable to cover its regular expenses with its regular income?	Is the new spending excessive, or is it simply the interest burden that is too high?
Risk level (generally)	Medium to high – depending on the percentage of GDP.	High – if it remains constant	Analytical indicators – show policy quality.
Used in policy analysis	Budget and borrowing analysis	Revenue management status	Understanding debt burden versus new spending

Main Causes of Fiscal Deficit

Economic Slowdown : When the economy slows down, tax collection also decreases. Government revenue from GST, corporate tax, and income tax falls, while expenditure remains relatively constant leading to a larger deficit.
High Government Spending : The government continuously needs to spend on several essential sectors—such as infrastructure, defense, health, education, and social programs. Large development projects and welfare schemes can increase the pressure on the deficit.
Interest Payment Burden : Interest payments on existing debt must be made every year. If the total debt is large, the interest payments are also substantial—and this becomes a persistent cause of the fiscal deficit.
Tax Structure Gaps : A narrow tax base, poor compliance, and a large informal economy prevent the government from collecting its full potential tax revenue.
Policy Stimulus Measures : Sometimes, the government deliberately provides sector-specific incentives, manufacturing subsidies, or industry packages to boost growth. This is strategic spending, but it can increase the deficit in the short term.

Is Fiscal Deficit Always Bad?

A fiscal deficit may seem negative at first glance, but it is not harmful in every situation.

When a Fiscal Deficit Can Be Beneficial :

If the government invests the deficit funds in productive activities, it can strengthen the economy in the long run.

Government spending is necessary to stimulate demand during a recession.
Spending on infrastructure and long-term projects boosts future growth.
Investments in manufacturing and technology improve productivity.
Capital expenditure-based spending also promotes employment and private investment.

When a Fiscal Deficit Can Become a Risk :

If the deficit remains consistently high and spending is unproductive, pressure builds up.

Spending is primarily focused on consumption and subsidies.
Debt and interest payments begin to rise rapidly.
High government borrowing puts pressure on interest rates.
Inflation and the currency are negatively affected.

How Fiscal Deficit Impacts Common Citizens ?

Inflation could rise : If the government borrows more and spends more, the amount of money in the market increases. This often leads to higher prices for goods and services.
Loans could become more expensive : When the government borrows heavily, there is upward pressure on interest rates. This can make home loans and business loans more expensive.
Tax policy could change : If there is a persistent large deficit, the government may tighten tax regulations or introduce new methods of revenue collection in the future.
Job opportunities could also increase : If deficit spending is invested in infrastructure projects such as roads, railways, and factories, both economic activity and employment increase. This is what determines whether a deficit is beneficial or detrimental.

Impact on Investors & Markets

Bond Market : When the government borrows more, the supply of government bonds in the market increases. This typically drives bond yields higher. A rise in yields means that new borrowing becomes more expensive.
Stock Market : If the deficit is increasing due to capital expenditure and infrastructure spending, the market generally views this positively. In such times, there is increased interest in the shares of infrastructure, capital goods, and PSU project companies.
Currency : A persistently high deficit and increasing government debt make foreign investors cautious. This can put pressure on the currency, especially if the debt is rising rapidly.

Conclusion

The fiscal deficit is an important indicator for understanding the state of the economy, but it shouldn’t always be viewed negatively. What’s more important is how the government is using the borrowed money. If the spending is on infrastructure, industry, and development projects, then that deficit can actually support future growth. The key is not in the size of the deficit, but in its judicious use. Stay updated with the latest market information – download Pocketful and begin your investing journey with zero brokerage.

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Frequently Asked Questions (FAQs)

Why does a fiscal deficit occur?
When tax and other revenues are insufficient to cover expenses, the government has to borrow money.
How does the government finance the fiscal deficit?
The government mainly finances it through borrowing, bonds, and loans.
Is a higher fiscal deficit dangerous?
Not necessarily. If the money is used for developmental projects, it’s acceptable; otherwise, the risks can increase.
How does the government cover a fiscal deficit?
The government covers the deficit by selling bonds and borrowing from the market.
Can a fiscal deficit increase loan interest rates?
Yes, higher government borrowing can keep interest rates elevated.

February 10, 2026

Best Corporate Bond Funds in India

In today’s volatile stock market, investors are seeking options that offer both security and predictable returns. This is why corporate bonds are gaining attention in 2026. Bond yields have reached attractive levels in recent months, and the Reserve Bank of India’s policies have boosted confidence in this sector. As a result, many are now considering the best corporate bonds in India as a viable long-term investment option.

What Are Corporate Bonds and How Do They Work?

Corporate bonds are investment instruments through which companies raise money from investors and, in return, pay them a fixed rate of interest. They have a fixed maturity period, at the end of which the invested principal is repaid. The risk associated with these bonds depends on the financial health of the issuing company, and the returns are typically higher than those of government bonds.

Best Corporate Bonds Mutual Funds in India (2026)

HDFC Corporate Bond Fund
ICICI Prudential Corporate Bond Fund
SBI Corporate Bond Fund Direct Growth
Kotak Corporate Bond Fund Direct Growth
Bandhan Corporate Bond Fund Direct Growth
Nippon India Corporate Bond Fund Direct Growth
Axis Corporate Bond Fund Direct Growth
Tata Corporate Bond Fund Direct Growth
Franklin India Corporate Debt Fund
Baroda BNP Paribas Corporate Bond Fund Direct Growth

1. HDFC Corporate Bond Fund

The HDFC Corporate Bond Fund is managed by HDFC Mutual Fund, which was established in 1999. This fund primarily invests in high-quality corporate and government bonds, including those of well-known institutions such as State Bank of India, Bajaj Finance, and the Government of India. The fund focuses on generating stable income with controlled risk. Its performance has consistently been in line with its category over the long term, and its portfolio is diversified across various sectors.

Fund Details :

Details	Information
Current NAV	34.09
Fund Size	34,804.50
Expense Ratio	0.62%
Minimum Investment	₹100
Minimum SIP	₹100
Exit Load	Nil
Lock-in Period	NA
Fund Manager	Anupam Joshi

Fund Performance

Metric	Value
3-year return	7.39%
5-year return	6.12%
Alpha	0.03%
Beta	0.43
Sharpe Ratio	0.1996
Risk	7.39%

(Data as of 03 Feb 2026)

2. ICICI Prudential Corporate Bond Fund

ICICI Prudential Corporate Bond Fund is a debt fund that invests in high-quality corporate bonds and government securities. Its portfolio is diversified across various sectors, including LIC Housing Finance, government securities, and infrastructure-related companies. The fund is managed by Manish Banthia. Its performance over the past few years has been consistent with the category average, and its focus remains on maintaining a balanced risk profile with stable returns.

Fund Details :

Details	Information
Current NAV	32.71
Fund Size	33871.47
Expense Ratio	0.57%
Minimum Investment	₹100
Minimum SIP	₹100
Exit Load	Nil
Lock-in Period	NA
Fund Manager	Manish Banthia

Fund Performance

Metric	Value
3-year return	7.67%
5-year return	6.46%
Alpha	0.06%
Beta	0.28
Sharpe Ratio	0.3588
Risk	7.67%

(Data as of 03 Feb 2026)

3. SBI Corporate Bond Fund

The SBI Corporate Bond Fund is managed by SBI Mutual Fund, which was established in 1992 and is one of the oldest and largest fund houses in the country. This fund invests in corporate bonds and government securities, maintaining a balanced portfolio. Its major holdings include investments in entities such as Government of India Bonds, NABARD, Pipeline Infrastructure, and Bharti Telecom. The fund is managed by Rajeev Radhakrishnan, and its focus is on generating stable returns while managing risk.

Fund Details :

Details	Information
Current NAV	₹15.94
Fund Size	24.606.87
Expense Ratio	0.77%
Minimum Investment	₹5,000
Minimum SIP	₹500
Exit Load	NA
Lock-in Period	NA
Fund Manager	Rajeev Radhakrishnan

Fund Performance

Metric	Value
3-year return	7.17%
5-year return	5.82%
Alpha	0.02%
Beta	0.42
Sharpe Ratio	0.1606
Risk	7.17%

(Data as of 03 Feb 2026)

4. Kotak Corporate Bond Fund Direct Growth

The Kotak Corporate Bond Fund Direct Growth is managed by Kotak Mutual Fund and overseen by Deepak Agrawal. This fund primarily invests in high-quality corporate bonds and government securities, maintaining a balanced portfolio. Its major investments are in Government of India Bonds and institutions like NABARD, which demonstrate stability and a reliable credit profile. The fund’s structure focuses on generating stable returns over the long term while managing risk effectively.

Fund Details :

Details	Information
Current NAV	4063.35
Fund Size	18,840
Expense Ratio	0.69%
Minimum Investment	₹100
Minimum SIP	₹100
Exit Load	NA
Lock-in Period	NA
Fund Manager	Deepak Agrawal

Fund Performance

Metric	Value
3-year return	7.45%
5-year return	6.17%
Alpha	0.04%
Beta	0.40
Sharpe Ratio	0.2295
Risk	7.45%

(Data as of 03 Feb 2026)

5. Bandhan Corporate Bond Fund

The Bandhan Corporate Bond Fund is managed by Bandhan Mutual Fund, which was established in 1999. The fund is managed by Suyash Choudhary. Its portfolio primarily invests in government bonds and debt instruments of strong corporate companies. Its major holdings include Government of India Bonds, along with large corporate names such as Larsen & Toubro and Reliance Industries. It also includes a portion of Net Current Assets, ensuring a balanced and diversified investment structure for the fund.

Fund Details :

Details	Information
Current NAV	20.36
Fund Size	14,855.50
Expense Ratio	0.65%
Minimum Investment	₹1,000
Minimum SIP	₹100
Exit Load	NA
Lock-in Period	NA
Fund Manager	Suyash Choudhary

Fund Performance

Metric	Value
3-year return	7.08%
5-year return	5.79%
Alpha	0.01%
Beta	0.32
Sharpe Ratio	0.1565
Risk	7.08%

(Data as of 03 Feb 2026)

6. Nippon India Corporate Bond Fund

The Nippon India Corporate Bond Fund is managed by Nippon India Mutual Fund, which was established in 1995. The fund is managed by Vivek Sharma. Its portfolio primarily invests in government bonds and debt instruments of strong corporate entities. Its major holdings include Government of India Bonds, along with investments in companies such as NABARD, Aditya Birla Housing Finance, Siddhivinayak Securitisation Trust, and Shivshakti Securitisation Trust. It also maintains a portion in net current assets, ensuring a balanced and diversified investment structure.

Fund Details :

Details	Information
Current NAV	₹61.65
Fund Size	10,430.66
Expense Ratio	0.76%
Minimum Investment	₹1,000
Minimum SIP	₹100
Exit Load	NA
Lock-in Period	NA
Fund Manager	Vivek Sharma

Fund Performance

Metric	Value
3-year return	7.50%
5-year return	6.51%
Alpha	0.04%
Beta	0.46
Sharpe Ratio	0.2193
Risk	7.50%

(Data as of 03 Feb 2026)

7. Axis Corporate Bond Fund

The Axis Corporate Bond Fund is managed by Axis Mutual Fund, which was established in 2009. The fund is managed by Devang Shah. Its portfolio invests in government bonds and debt instruments issued by financial institutions. Its major holdings include Government of India Bonds, along with instruments from institutions such as NABARD, Clearing Corporation of India, and SIDBI. It also maintains a portion in Net Current Assets, ensuring a balanced and diversified investment structure for the fund.

Fund Details :

Details	Information
Current NAV	18.65
Fund Size	9,435.82
Expense Ratio	0.95%
Minimum Investment	₹100
Minimum SIP	₹1,000
Exit Load	NA
Lock-in Period	NA
Fund Manager	Devang Shah

Fund Performance

Metric	Value
3-year return	7.34%
5-year return	6.07%
Alpha	0.02%
Beta	0.41
Sharpe Ratio	0.1967
Risk	7.34%

(Data as of 03 Feb 2026)

8. Tata Corporate Bond Fund Direct Growth

The Tata Corporate Bond Fund Direct Growth is managed by Tata Mutual Fund, which was established in 1994 and is one of India’s oldest and most trusted fund houses. The fund is managed by Murthy Nagarajan. Its portfolio primarily invests in government bonds and corporate bonds issued by financial institutions. Its major holdings include instruments from institutions such as the Government of India, NABARD, National Housing Bank, and SIDBI, ensuring a balanced and diversified portfolio.

Fund Details :

Details	Information
Current NAV	12.68
Fund Size	4235
Expense Ratio	0.86%
Minimum Investment	₹5,000
Minimum SIP	₹150
Exit Load	NA
Lock-in Period	NA
Fund Manager	Murthy Nagarajan

Fund Performance

Metric	Value
3-year return	7.12%
5-year return	–
Alpha	0.01%
Beta	0.44
Sharpe Ratio	0.1502
Risk	7.12%

(Data as of 03 Feb 2026)

9. Franklin India Corporate Debt Fund

The Franklin India Corporate Debt Fund is managed by Franklin Templeton Mutual Fund, which was established in 1995. The fund is managed by Anuj Tagra. Its portfolio is diversified across government bonds and debt instruments of private companies. Its major holdings include Government of India Bonds, as well as investments in companies such as Poonawalla Fincorp, NABARD, RJ Corp, Sikka Ports & Terminals, REC, SIDBI, Embassy Office Parks REIT, and Jubilant Beverages, ensuring a balanced investment structure across diverse sectors.

Fund Details :

Details	Information
Current NAV	111.89
Fund Size	1,338.11
Expense Ratio	0.76%
Minimum Investment	₹10,000
Minimum SIP	NA
Exit Load	NA
Lock-in Period	NA
Fund Manager	Anuj Tagra

Fund Performance

Metric	Value
3-year return	7.67%
5-year return	–
Alpha	0.05%
Beta	0.32
Sharpe Ratio	0.2213
Risk	7.67%

(Data as of 03 Feb 2026)

10. Baroda BNP Paribas Corporate Bond Fund

The Baroda BNP Paribas Corporate Bond Fund is managed by Baroda BNP Paribas Mutual Fund, which was established in 2003. The fund is managed by Gurvinder Singh Wasan. Its portfolio invests in government bonds and debt instruments of large public and private sector companies. Its major holdings include NABARD, Indian Railway Finance Corporation (IRFC), REC, Export-Import Bank of India, NTPC, Bajaj Housing Finance, and Government of India Bonds. It also maintains a portion in Net Current Assets, ensuring a diversified and balanced investment structure.

Fund Details :

Details	Information
Current NAV	30.10
Fund Size	482.08
Expense Ratio	0.58%
Minimum Investment	₹5,000
Minimum SIP	₹500
Exit Load	NA
Lock-in Period	NA
Fund Manager	Gurvinder Singh Wasan

Fund Performance

Metric	Value
3-year return	7.61%
5-year return	5.57%
Alpha	0.04%
Beta	0.52
Sharpe Ratio	0.2141
Risk	7.61%

(Data as of 03 Feb 2026)

Risks Associated With Corporate Bond Funds

Deterioration of the company’s financial health : If the company in which the fund has invested experiences a decline in earnings, it may face difficulties in paying interest or repaying the principal. This impacts the fund’s value.
Impact of interest rate changes : When the RBI raises interest rates, the value of existing bonds decreases. This directly affects the fund’s Net Asset Value (NAV).
Difficulty in selling bonds quickly : Some bonds are not easily sold immediately. Selling them at a fair price when needed may take time.
Credit rating downgrade : If a company’s credit rating is downgraded, the value of its bonds may fall, affecting the fund’s returns.
Market uncertainty : Although these are considered safer than equity markets, economic conditions and government policies can influence their performance.

Conclusion

In conclusion, corporate bond funds are a balanced option for investors seeking regular and stable returns without taking on excessive risk. Choosing the right fund requires understanding not only the returns but also its holdings, fund manager, and expenses. With a little patience and the right information, corporate bond funds can bring stability to your portfolio.

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Frequently Asked Questions (FAQs)

What are corporate bond funds?
These are funds that invest in corporate bonds and earn income from interest payments.
Are corporate bond funds risky?
They are less risky than the stock market, but the risk depends on the financial health of the company.
How much return can corporate bond funds give?
Typically, they can give returns between 6% and 8%.
Can I invest through SIP?
Yes, you can invest in these funds through SIP (Systematic Investment Plan).
How long should I stay invested?
A minimum investment period of 2-3 years is generally recommended.

February 10, 2026

Blog

Policy Announcements under Viksit Bharat FY 2026-27

What is Viksit Bharat 2047?

Pillars of the Budget

Budget 2026 – Key Policy Announcement

1. Capex

2. Connectivity

3. Manufacturing of Semiconductors and Electronics

4. Rare Earth Metals

5. BioPharma

6. Small and Medium Enterprises Growth

7. Healthcare Sector

8. Carbon Capture

9. Textile Sector

10. New Income Tax Act

Conclusion

Frequently Asked Questions (FAQs)

What is Viksit Bharat 2047?

What are the key areas of concern in the policy announcement in FY 2026-27?

Where can one find the official details of Viksit Bharat FY 2026-27 policy announcement?

What is the capital expenditure for FY 2026-27?

How much has the government allocated to semi-conductor and electronic manufacturing sector?

Why Are Copper Share Prices Rising in 2026?

Copper as a Metal

Key Reasons why Copper Share Prices are Rising

1. Increasing Industrial Demand

2. Production Under Pressure

3. Paying for Scarcity

4. AI, Data Centres and Digital infrastructure are Copper-Intensive.

Why do Copper Company Shares react so strongly?

Is the Ongoing Copper Rally Sustainable?

Current Market Scenario

Conclusion

Frequently Asked Questions (FAQs)

Why are copper share prices rising right now?

Why are miners not able to produce more copper?

Why is China so important for copper demand?

How does a weak US dollar affect copper prices?

Is copper a good long-term investment theme?

Best Banking ETFs in India 2026

What Is a Banking ETF and How Does It Work?

How is this different from individual stocks?

List of Banking ETFs in India 2026

1. Nippon India ETF Bank BeES

2. Kotak Nifty Bank ETF

3. SBI ETF Nifty Bank

4. UTI Nifty Bank ETF

5. Nippon India ETF Nifty PSU Bank BeES

6. ICICI Prudential Nifty Private Bank ETF

7. ICICI Prudential Nifty Bank ETF

8. ICICI Prudential Nifty Bank ETF

9. HDFC Nifty Banking ETF

10. Kotak Nifty PSU Bank ETF

Risks of Investing in Banking ETFs

Conclusion

Frequently Asked Questions (FAQs)

How is a Bank ETF different from a PSU Bank ETF?

How can I buy a Bank ETF in India?

Is a Bank ETF risky?

Does a Bank ETF give dividends?

What should I check before selecting a Bank ETF?

Why Are Steel Share Prices Increasing in India?

The 3-year Safeguard Duty in India and its impact on steel shares.

Safeguard Duty Structure

Which steel products are covered?

Why is this a positive sign for steel shares?

Adjustment in Anti-Dumping Duty – Avoiding Double Levy

The real prices of steel are going up.

Steel price benchmarks 2026

India’s steel exports are strong, and this is impacting its stock prices.

CBAM and Europe’s Role

Exports have a direct impact on why steel share prices are increasing.

Why is domestic steel demand increasing, and what are the implications?

Domestic Steel Demand Trends (Figures valid for 2025–26)

Homes, infrastructure, and manufacturing are the main consumers.

Why Steel Shares Price Is Increasing

Risks That Can Reverse Steel Share Rally

Conclusion

Frequently Asked Questions (FAQs)

Why are steel share prices increasing in India?