India Budget 2026: Non-Legislative Reforms Could Unlock Faster Growth and Investment

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Union Budget 2026: How Non-Legislative Reforms Can Boost India’s Economy and FDI

India Budget 2026: Non-Legislative Reforms Could Unlock Faster Growth and Investment

India’s Winter Session of Parliament passed key reform legislation, including the SHANTI Act, but experts say the biggest growth opportunities lie beyond Parliament. As the Union Budget 2026 approaches, policy think tanks such as CSIS argue that non-legislative reforms announced through the Budget Speech could accelerate investment, ease of doing business, and help achieve the vision of a Viksit Bharat by 2047.

Published by Somesh | January 30, 2026

The Winter Session of India’s Parliament showcased strong legislative productivity, highlighted by the passage of the SHANTI Act, which allows up to 49 percent foreign direct investment and opens the nuclear sector to private participation. While this aligns with Prime Minister Narendra Modi’s reform-driven economic agenda, experts believe many of India’s most impactful reforms do not require new legislation.

The upcoming Union Budget 2026, to be presented on February 1, is expected to serve as a critical signaling platform for such reforms. According to the Centre for Strategic and International Studies’ India Reforms Scorecard 3.0, at least 30 major economic reforms can be implemented through executive and regulatory action rather than parliamentary approval.

These include raising the cap on foreign institutional investment in Indian companies to unlock liquidity, introducing a national Online Dispute Resolution framework to ease judicial backlogs, and establishing dedicated customs clearance lanes to boost e-commerce exports. Together, these measures could significantly improve ease of doing business and help India move closer to its goal of becoming a developed economy by 2047.

As Finance Minister Nirmala Sitharaman prepares to present the Budget, economists say it should go beyond expenditure announcements and clearly outline policy intent, creating momentum for reforms that support growth, investment, and global competitiveness.