India’s macroeconomic and energy policy landscape in 2026 makes it clear that energy security has emerged as a core national priority. Both Union Budget 2026 and the Economic Survey 2025-26 situate climate action within the broader challenge of building a reliable, affordable, and resilient energy system, rather than treating decarbonisation as an isolated objective. The Economic Survey explicitly frames climate policy as part of energy system management, prioritising affordability, reliability, and security alongside emissions reduction, and calling for a holistic energy strategy rather than fragmented climate interventions. Union Budget 2026 reinforces this framing. While it expands fiscal support for renewable energy, clean technologies, and grid-scale infrastructure, it simultaneously maintains, and in some cases significantly increases, the allocations for coal, power, and firm capacity. This dual emphasis reflects a clear policy recognition: India’s energy transition must proceed without undermining growth, access, or system stability…