Union Budget 2026 Part 2: Deficit Formulas, Subsidies, New Schemes & PYQs by Dr. Mrunal Patel

Links - 🔓 3 DAY Unlock All UPSC Courses- https://unacademy.com/subscription/free-trial?referral_code=mrunal.org&goal_uid=KSCGY - 💾 PPT download (wed-Night) https://unacademy.com/content/upsc/mrunal-patel/ - 5th Jan se Win26 series https://unacademy.com/class/mrunals-win26-economy-pill1-rbi-banking-upi-bitcoin/HF65PKYC - 🎁 8th Sunday Mock Test on Budget - https://unacademy.com/scholarship/UCSC Timestamps 00:00 Intro & Budget Parts 00:28 Finance Commission Priority 01:05 Free Access & Win26 Series 01:50 Revenue Budget Recap 02:21 Subsidy & Pay Commission 03:00 Capital Budget & Borrowing 03:28 Disinvestment Reality 04:50 Strategic Disinvestment 06:06 Effective Capex Formula 08:36 Deficit Financing Methods 10:34 Fiscal Deficit Target 12:40 Fiscal Glide Path 14:19 FRBMA & Goalpost Changes 15:04 Primary Deficit & ERD 16:27 Dataset 18:30 2025 PYQs on Deficit 20:24 More Deficit PYQs Solved 21:16 Post-Exam Advice 22:27 Strange Matching PYQ 23:30 New Schemes Overview 26:00 Gender Budget 26:42 Budget 2026 Schemes 30:07 Agriculture & MSME Focus 33:05 Infra Rare Earth Tourism 35:24 Divyangjan STEM She-Marts 37:54 Closing & Mock Test Info 39:11 Book & Thanks In this detailed lecture, renowned UPSC Educator & Economy expert Dr. Mrunal Patel (Ph.D.) explains Union Budget 2026-27 Part 2 focusing on subsidies, deficit formulas (Fiscal, Revenue, Effective Revenue, Primary), disinvestment reality, Effective Capex concept, new schemes announced, and previous year questions (PYQs) from 2025 solved step-by-step. Perfect for aspirants preparing for UPSC CSE, SSC-CGL, State PCS, Banking (IBPS/RBI), CAPF, CDS, ACIO, APFC and other competitive exams where Indian Economy & Current Affairs carry high weightage. Lecture covers: • Revenue vs Capital Budget recap with actual numbers (Tax & Non-Tax Revenue, Interest payment ≈14 lakh crore, Subsidy ≈4.5 lakh crore) • 8th Pay Commission & Justice Ranjana Desai • Fiscal Deficit target 4.3% of GDP for 2026-27 (≈16-17 lakh crore borrowing) • Primary Deficit = Fiscal Deficit minus Interest payments • Effective Revenue Deficit after adjusting capital grants to states • 4-3-2-1 deficit trick for quick recall in MCQs • Disinvestment target missed again (2025 actual much lower than budgeted) • Strategic Disinvestment vs full Privatisation explained with examples (Air India, IDBI) • Effective Capex (Budget Capex + selected revenue grants for asset creation) reaching ≈17 lakh crore • FRBMA 2003 targets missed repeatedly → goalpost shifting • New schemes & announcements overview from Budget 2026 (pillar-wise quick look) • Banking reforms committee for Viksit Bharat@2047 • TReDS platform reforms for MSMEs • Municipal Bonds incentive • Agriculture: Coconut, Sandalwood, Agarwood promotion; Mahatma Gandhi Gram Swaraj Yojana; Samarth 2.0 for textiles • MSME Champion scheme, SME Growth Fund, Corporate Mitra for tier-2/3 cities • Orange Economy (creative sector) skill training • Rare Earth Permanent Magnet corridor to reduce China dependence • Biopharma Shakti & Semiconductor Mission 2.0 • Seven High-Speed Rail Corridors, City Economic Regions (replacing Smart Cities), She-Marts by Lakhpati Didis • Divyangjan Kaushal Yojana, STEM hostels for girls in every district, University Townships • Gender Budget classification (Part A/B/C) Alt Titles 1. Union Budget 2026 Part 2: Deficit Formulas, Subsidies, New Schemes & PYQs Explained | Dr. Mrunal Patel 2. Budget 2026 Lec 2: Fiscal Deficit, Effective Capex, Revenue Deficit, New Schemes & PYQs | Mrunal Economy ### SEO tags Union Budget 2026, Budget 2026 Part 2, Fiscal Deficit Explained, Primary Deficit, Effective Revenue Deficit, Effective Capex, Rajkoshiya Ghatta, Disinvestment 2026, New Schemes Budget 2026, Viksit Bharat 2047, Mrunal Patel Economy, UPSC Economy Lecture, Budget PYQs 2025 Solved, Subsidy in Budget, 8th Pay Commission, Gender Budget, MSME Schemes 2026, Agriculture Budget 2026, UPSC 2026 Preparation, Indian Economy Current Affairs, Dr Mrunal Patel