India Inc on Sunday termed Union Budget 2026-27 as a Budget for the real economy that focuses on enhancing India's competitiveness in the world, while underscoring the country's commitment to a structural reform-led economic roadmap.
Industry leaders welcomed steps announced by Union Finance Minister Nirmala Sitharaman, like raising capital expenditure to Rs 12.2 lakh crore for FY27, establishing a dedicated Rs 10,000 crore SME growth fund and launching Biopharma Shakti with an outlay of Rs 10,000 crore over five years, among several other steps that would help the country achieve self-reliance and inclusive growth.
Terming it as “a Budget for the real economy”, Kotak Mahindra Bank founder & director Uday Kotak said in a post on X, “We welcome the increase in defence spend. Broad fiscal discipline continues. Works on balancing between financialisation of the economy and focused development of diverse, deep India in the long-term.”
Similarly, Vedanta Group chairman Anil Agarwal said it is a growth-oriented Budget with a clear focus on increasing public capital expenditure and boosting manufacturing. “It is a Budget which creates opportunities for youth to improve their livelihoods, women to become financially independent and for employment-intensive sectors like medical tourism to take off,” he said.
Mahindra Group CEO & MD Anish Shah said the Budget focuses on enhancing India’s competitiveness in the world, takes meaningful steps towards Atma Nirbharata and enables a wider participation in the benefits of economic growth. “We particularly welcome the significant increase in capital expenditure to Rs 12.2 lakh crore for FY27, which underscores an unambiguous policy focus on infrastructure, regional development and job creation across the country,” he said.
This would play a pivotal role in crowding in private investment, enhancing productivity and supporting the growth of tier-2 and tier-3 cities as emerging economic hubs, he added.
Using cricket parlance, RPG Enterprises chairman Harsh Goenka described it as a “Test-match Budget ahead of the T20 World Cup”. “No flashy sixes, just smart singles all around to keep the scoreboard ticking. Steady, disciplined, very Ro-Ko in temperament. #Budget2026,” Goenka said in a post on X.
Biocon Ltd executive chairperson Kiran Mazumdar-Shaw said in a post on X, “By placing biopharma among the seven strategic frontier sectors and launching Biopharma Shakti with an outlay of Rs 10,000 crore over five years, the Union Budget makes a decisive investment in India’s health and innovation future.”
FICCI president Anant Goenka said the Budget strikes a balanced and credible note “with a clear focus on growth, inclusivity and yuva-shakti” and ensures continuity and stability through sustained reforms, a strong public capex push, ease of doing business and a decisive emphasis on manufacturing, MSMEs, agriculture and services.
ASSOCHAM President Nirmal K Minda said the Budget delivers a strong push to domestic manufacturing through targeted sectoral schemes spanning biopharma, electronics, textiles, semiconductors, chemicals, defence and infrastructure equipment.
Rajiv Memani, President, CII, said the Union Budget 2026–27 presents a strong and credible roadmap for strengthening India’s competitiveness through a balanced mix of fiscal discipline, structural reforms and targeted interventions to stimulate private investment.
Union Budget 2026: Chabahar port project gets no fund allocation
Follow us
