PRS Legislative Research (PRS India) released its comprehensive analysis of the Union Budget 2026-27 shortly after its presentation on February 1, 2026. The analysis, considered the gold standard for budget scrutiny in India, provided detailed breakdowns of expenditure priorities, key scheme allocations, and fiscal targets. Key findings: The top 13 ministries account for 54% of total government expenditure, reflecting high concentration of spending. Defence received the highest allocation at ₹7.84 lakh crore, constituting 15% of total expenditure — the largest ever in absolute terms, reflecting India's military modernisation agenda amid regional security concerns. Pradhan Mantri Awas Yojana-Urban (PMAY-U) saw a massive increase of 179% in its allocation, signalling a renewed push for urban housing — directly linked to PM Modi's target of "Housing for All." Jal Jeevan Mission (JJM) was allocated ₹67,670 crore, aimed at delivering piped water to every rural household. Capital Expenditure stood at ₹12.22 lakh crore — 3.1% of GDP — reflecting continuity of infrastructure-led growth strategy. Fiscal deficit target is 4.3% of GDP for FY27. The PRS analysis highlighted that while gross tax revenue is projected to grow at 10.8%, the actual devolution to states may be lower due to higher cess and surcharge collections not shared with states. The report is widely used by IAS/RAS aspirants, civil society, and legislators for objective budget assessment.