As we inch closer to the Union Budget FY27, expectations from the government are to strike a balance between fiscal prudence and growth support. Focus is likely to remain on capital expenditure, especially infrastructure, alongside conservative tax assumptions and limited changes to personal income tax. Investors will track measures to boost consumption, manufacturing, employment, and exports, while the fiscal deficit and borrowing programme will be key market drivers. Here’s what 8 top brokerage firms expect from Finance Minister Nirmala Sitharaman on February 1.