📊 Axis Direct FY27 Union Budget Outlook and Capital Expenditure Focus **Axis Direct** anticipates that the upcoming **FY27 Union Budget** will be strategically focused on balancing **economic growth** with **fiscal discipline**. Key Projections * **Fiscal Deficit Target:** The brokerage projects the fiscal deficit to be managed within the range of **4.2% to 4.4% of GDP** for FY27. This containment is viewed as critical for reinforcing policy credibility and limiting upward pressure on bond yields. Investment Theme: Capex-Led Growth The research highlights continued emphasis on **capital expenditure (Capex)** as the primary driver for economic momentum. * **Stock Recommendations:** Axis Direct has identified a basket of **26 stocks** spanning **eight sectors** that are strategically positioned to benefit from the government's sustained focus on Capex-led growth. These picks represent core opportunities aligned with expected budgetary allocations and the infrastructure cycle.