Budget
CNBC TV-18 presents 360 degree budget special
MUMBAI: We are just one day away from the new BJP government’s first and most crucial decision making exercise- Budget 2014. With much hope riding on it, questions are being asked as to whether Prime Minister (PM) Narendra Modi will stand true to the things he had promised while he was contesting the elections.
A channel that has made its presence felt since the last 14 years has lined up some interesting shows for pre budget and post budget sessions. CNBC TV-18 managing editor Shereen Bhan will host Meet the Ministers where she has been speaking to various cabinet ministers to know about their priorities for the upcoming year, most specifically finance and commerce ministers. What India Inc. Wants will analyse the business fraternity’s expectations from the Modi budget.
Dalal Street’s big names will discuss the upcoming budget in What Markets Want while the big names from the FIIs and MNCs will reveal their hopes and aspirations from the new political centre and its effect on business through The Global Investor View. Some other shows include Fiscal State, Taxing Times, The Development Agenda, Budget & You and Sectoral Budget Expectations.
These special shows will be accompanied by the channel’s existing shows that will have budget specials such as Young Turks, Indianomics, Forbes India Show and others.
Ground events are being conducted with big names from CNBC TV-18. Shereen Bhan will host Budget Agenda while Network18 business newsroom editor-in-chief Senthil Chengalvarayan will host What India Wants to collate a macro perspective on India Inc.’s expectations. What Markets Want will have leading market and financial experts analysing what the masses and the capital markets expect from the budget. Investor Conclave, Young India and The Verdict are two more ongoing shows.
Commenting on the budget programming, CNBC channels CEO Anil Uniyal said, “We are happy to set a new benchmark this year as well, with tri-lingual coverage for the first time in English, Hindi and Gujarati. This year’s budget is especially critical, as the new government has to fulfill electoral expectations of reform and development. Our special budget programming anchored by India’s finest editorial minds will bring viewers the best analysis of the challenges faced by the new Finance Minister and his decisions that will impact industry.”
10 July will have live coverage of the budget through the day with bulletins and specials such as India Business Hour- Budget Special and on 11 July, breakfast shows on CNBC TV-18 will analyse the impact of the budget and a follow up show that will look into how the budget announcements will affect the common man’s investments.
Sponsors for the shows include Llloyd Electrics, RPSG, askme.com, F6 Finserve, Muthoot Corp, State Bank of India.
CNBC-TV18 managing editor Shereen Bhan said, “With a keen finger on the pulse of India Inc’s expectations and indications from the street, CNBC-TV18 is poised to present another defining season of budget coverage. Through a panorama of special programming and initiatives focusing on budget expectations, analysis and impact, CNBC-TV18 will once again ensure specialised coverage with the most breadth and depth, in the run up to and on budget day.”
MUMBAI: Anuj Singhal, managing editor at CNBC- AWAAZ and CNBC BAJAR, operates at the sharp end of India’s business news ecosystem. With over two decades in business journalism, he has earned credibility for decoding policy, markets and macro trends for millions of Hindi-speaking investors. Equal parts newsroom leader and market analyst, he shapes editorial direction while anchoring flagship shows that break down the economy, politics and corporate India in real time.
Known for cutting through jargon and hype, Singhal blends data, discipline and clarity — a mix that has made him one of the most trusted voices in Hindi business news.
In this interaction, he discusses the Union Budget, trade deals, newsroom strategy and what truly moves markets and ratings.
• What was the single most market-moving announcement in this Budget, and why?
The most market-moving element was the clear commitment to fiscal consolidation without compromising capex. The glide path on fiscal deficit reassured bond markets and foreign investors, while sustained public investment kept growth expectations intact. That balance removed a big overhang for both equities and debt.
• Do you see this Budget as growth-oriented, fiscally cautious, or politically calibrated?
This Budget is growth-led but fiscally disciplined. It avoids overt populism, stays within macro guardrails, and prioritises medium-term competitiveness over short-term optics. Politically, it is restrained; economically, it is deliberate. The message is clear: stability over spectacle.
• How is CNBC-AWAAZ programming different, especially in decoding trade deal impact?
CNBC-AWAAZ goes beyond headline reaction. We translate policy into portfolio impact — sector by sector, stock by stock.
On trade agreements, our focus is on:
-Earnings visibility
-Export competitiveness
-Currency implications
-Margin sustainability
We don’t treat trade deals as political milestones. We decode them as profit-and-loss events for corporate India and map them to FY earnings trajectories.
• Which sectors look like clear winners and laggards over the next 12–18 months?
The next 12–18 months favour sectors aligned with structural spending and supply-side strengthening.
– Clear beneficiaries:
Capital goods and infrastructure
Manufacturing linked to export chains and PLI ecosystems
Power, defence, and logistics
– Relative laggards:
Consumption segments dependent on immediate demand revival
Businesses facing margin pressure from global volatility or pricing power erosion
This is not a momentum-driven market environment. It is execution-driven. Balance-sheet strength and order visibility will matter more than narrative.
• One headline to sum up this Budget 2026 for India Inc?
“Steady Hands, Long-Term Vision: A Budget That Rewards Discipline Over Drama”.
• What editorial filters do you apply before calling something ‘market-positive’ or ‘negative’?
We apply three structured filters:
– First: Earnings translation — does this materially change earnings visibility or cash flow outlook?
– Second: Time horizon — is the impact immediate, cyclical, or structural?
– Third: Valuation context — good news priced in or not.
If a policy doesn’t move earnings or risk perception, we don’t oversell it.
• How has business news consumption changed around big policy events?**
There has been a clear behavioural shift. They’re less interested in what was said, more in what it means for their money. There’s also a clear shift toward second-screen consumption, with digital platforms complementing live TV. The audience seeks sharper accountability. Viewers no longer accept broad optimism or pessimism — they want frameworks, numbers, and sector mapping.
• CNBC-AWAAZ decisively outperformed on Budget Day. What editorial and distribution choices mattered most?
Three deliberate strategic choices:
– Preparation depth:
We build scenarios months in advance — deficit ranges, sectoral incentives, tax calibrations — so we’re ready with analysis the moment numbers are announced.
– Language of impact:
We translate macro policy into investor-friendly Hindi without diluting complexity. That bridges accessibility and sophistication.
– Integrated distribution:
Television, YouTube, and digital platforms operate as one editorial grid, not parallel silos. This ensures continuity of narrative.We stayed analytical while others stayed reactive.
• How different is your YouTube audience from your TV audience?
The behavioural differences are subtle but important. TV audiences prioritise authority, structured debate, and context. YouTube audiences want speed, clarity, and actionable insights — often sharper, sometimes more opinionated. However, both share one expectation: accuracy. The format evolves; the trust benchmark does not.
• How do you retain viewers after the budget speech ends?
By shifting from announcements to implications.Retention comes from shifting the narrative from announcement to implication. We break down sectoral breakouts, stock-level impact, and what to do next. The speech is just the trigger; analysis is the destination.
• Is Budget Day your biggest traffic day?
It is one of the biggest — but more importantly, it is among the deepest in engagement. Viewers spend longer durations, revisit segments, and seek follow-up programming. That indicates behavioural trust, not just traffic.
• What’s the first thing you personally track on Budget Day — the speech or the markets?
The markets. They’re the fastest truth-teller. The speech explains intent; markets reveal interpretation.
• Your personal Budget-day ritual?
Early morning prep, minimal distractions, and once the speech begins, complete immersion. For me, Budget Day is less about reaction and more about reading between the lines.
• What drove your Budget-day ratings dominance, and how are Budget and trade deals shaping markets now?
Our dominance came from credibility, consistency, and clarity.
As for markets, both the Budget and recent trade deals are reinforcing a narrative of policy stability and global integration, which supports valuations even amid global volatility.
For Singhal, the market is the final judge. Policies can promise and speeches can persuade, but prices reveal what investors truly believe. As India’s investor class grows more informed and more demanding, business journalism is shifting from commentary to calibration. The premium is on clarity, context and credibility. In a landscape flooded with noise, the real edge lies in interpretation. In the end, the markets listen to numbers, not narratives , and Singhal’s craft is helping viewers tell the difference.
