The Indian government’s Union Budget for 2026-27 has proposed several structural changes to the financial sector, including the formation of a ‘High Level Committee on Banking for Viksit Bharat’. Finance Minister Nirmala Sitharaman, presenting the budget in Parliament, said the committee’s purpose is to undertake a thorough examination of the financial sector and prepare it for the country’s next stage of growth. Changes are suggested for foreign investment rules. The finance minister announced plans f ...