Budget 2026 will be tabled less than two weeks from today, and it is due to be presented by Finance Minister Nirmala Sitharaman at a time when India’s economy has found its footing again. Growth has surprised on the upside, inflation has cooled meaningfully from its post-pandemic peaks, and rural demand, long the weak link, has begun pulling its weight. Yet beneath the headline numbers sits a quieter, more uncomfortable reality: urban India, especially its middle class, is still holding back.