Sanjay Agarwal, CEO, Ambit Finvest, ""The 2026 Budget underscores a decisive push to make Indian MSMEs globally competitive. The ₹10,000 crore SME Growth Fund, providing equity support to high-potential MSMEs based on performance and scalability, is a landmark step toward creating MSME champions. Equally significant are measures to ease liquidity constraints: mandatory TReDS adoption by Central Public Sector Enterprises, credit guarantee support for invoice discounting, integration of GeM with TReDS, and development of receivables as asset-backed securities. The initiative to revive ~200 stressed industrial clusters further modernises infrastructure, restores jobs, and strengthens MSME competitiveness."
Commenting on the Union Budget 2026, Shri Giresh Vasudev Kulkarni, Founder of Temple Connect and ITCX International Temples Convention and EXPO said, "The move to include temple towns in the City Economic Regions is very bold and appropriate. The allocation of ₹5,000 crore per CER over a period of five years will help modernise infrastructure, fuel local trade and tourism and translate rising visitor numbers into higher transaction value revenues. This, in fact, will turn temple towns into self-sustaining engines of economic growth while maintaining the sanctity and culture of these sacred spaces.The budget allocation is a critical enabler for the CHESS- G doctrine, a six-pronged strategic framework introduced by Temple Connect. It determines how effectively the model translates from intent to execution across its core pillars. Targeted investment will ensure better convenience infrastructure, hygiene standards, experience design, safety protocols, sustainability integration, and growth activation. We are speaking of economic growth that is centred on inclusion, enabling livelihoods for local communities like artisans, local vendors, e-auto drivers, MSMEs, temple custodians, as well as amplifying local hospitality and temple tourism. This holistic temple-city development is a foundational pillar of a truly Viksit Bharat. Until now, we were operating like the most organised-unorganised sector. However, the temple ecosystem has a higher scope and needs more financial boost from the various state governments and a higher participation from the Culture and Tourism outfits supporting the cause of Empowered Temple Economy & it's Ecosystem to become much more organised with targeted allocation, cross-ministerial co-ordinations and structured policy support."
Salee Nair, MD and CEO, Tamilnad Mercantile Bank," "The Union Budget reflects a clear recognition that the banking system is now in a position to shift from balance-sheet repair to purposeful credit expansion. Measures such as mandating TReDS for CPSE–MSME transactions and strengthening credit guarantee mechanisms will improve cash-flow certainty, reduce working-capital stress, and enable banks to lend with sharper risk visibility. At Tamilnad Mercantile Bank, these reforms reinforce our focus on MSMEs, agriculture and retail lending, where disciplined credit delivery can translate policy intent into sustainable, grassroots growth."
Sumedha Mahajan, Head of Marketing, Ampverse DMI-
"The Government's announcement of Creator Labs in schools and colleges is a timely and significant validation for India's growing esports ecosystem. Through the last two editions of College Rivals, we've worked closely with student representatives and campus communities across 100+ institutions in 20+ cities in the country, often starting with the fundamental task of helping college authorities recognise esports as a credible platform for skills, careers and digital creativity. This kind of national-level support will go a long way in strengthening institutional confidence, and will accelerate the mainstream adoption of esports, animation and competitive esports as part of India's future-ready youth economy."
"The Union Budget reinforces an infrastructure-first approach to electric mobility by prioritising transport networks, urban development and sustained public investment.
This is a critical shift, because EV adoption at scale depends less on standalone incentives and more on how mobility and energy infrastructure are planned and executed together. The increase in public capital expenditure to ₹12.2 lakh crore is a clear signal of intent.
Investments across transport corridors, urban infrastructure and city economic regions create the backbone for widespread EV charging deployment. As transport corridors and cities expand, charging infrastructure must be deployed where vehicles actually operate, park and turn around, rather than being added in isolation.
As electric mobility moves beyond early adopters, charging needs to be planned alongside power availability, urban growth and last-mile connectivity. The Budget's emphasis on infrastructure readiness and continuity improves predictability for long-term network rollout and capital deployment. This clarity is essential for scaling reliable EV charging infrastructure in the next phase of India's mobility transition. -- Benny Parihar, Managing Director and Founder, EVERTA.
Mr. Rajeev Taneja , Founder, GlobalCare Health (Medical Tourism)
"The Union Budget 2026–27 signals a clear shift in how India is building medical value travel, moving from fragmented offerings to integrated healthcare ecosystems. The proposed five regional medical tourism hubs, along with Medical Value Tourism Facilitation Centres, aim to simplify the international patient journey by bringing treatment, recovery, wellness and logistics into one coordinated framework. The ecosystem approach, combining hospitals, diagnostics, rehabilitation, AYUSH, research and education, alongside training of allied health professionals, can raise consistency, speed of care pathways and global patient confidence. Beyond infrastructure, the focus on capacity building and private-sector partnerships reflects a mature strategy that prioritises execution. India is at a critical juncture in healthcare where policy, technology and infrastructure can converge to redefine India's medical capabilities. At Globalcare Health, we see this as a call to action to build capacity, create global medical routes, and enable knowledge transfer and manufacturing for a wider economic impact in developing Indian cities", says Mr. Rajeev Taneja, Founder, GlobalCare Health.
Mr Anuj Mehta, Director, Dhuleva Group
"The core fundamentals of Mumbai's real estate market will be strengthened by Budget 2026–27 through the prioritisation of creating urban capacity for the long-term, as opposed to short-term measures. Continued increases in public capital expenditures alongside the implementation of the City Economic Regions framework will create greater infrastructure depth throughout the Mumbai Metropolitan Region and reinforce the demand for residential and commercial properties in well-located micro-markets. Likewise, the implementation of an Infrastructure Risk Guarantee Fund will significantly help real estate developers to reduce the risks associated with construction while also improving access to financing during that phase. Further, the creation of asset monetisation through dedicated REITs will confirm that the capital markets supporting property assets are maturing. NRI taxation clarifications and TDS considerations will make it easier for global investors to participate in the Mumbai real estate market and reaffirm that Mumbai is a stable long-term investment location."
Mr Cyrus Mody, Founder & C.E.O., Viceroy Properties
"Through Budget 2026-27, a capital-expenditure-driven growth strategy will be implemented. Public capital expenditure is expected to increase to ₹12.2 lakh crore, allowing for long-term execution certainty for the infrastructure pipeline in Mumbai. The focus on providing financing enhances the contribution of the City Economic Regions while enhancing both connectivity and depth of infrastructure across suburban growth nodes, thereby solidifying Mumbai's position as the anchor of the larger Mumbai Metropolitan Region. In addition to providing greater clarity regarding capital markets, the government has introduced the infrastructure risk guarantee fund (IRGF) and has also accelerated asset recycling for Central Public Sector Enterprises (CPSE) real estate through dedicated real estate investment trusts (REITs). This signals an established and maturing capital markets framework to facilitate project viability in high-value urban markets, such as Mumbai. As an extension of this commitment to executing infrastructure projects, increasing regional connectivity and participation of institutional capital will contribute to Mumbai being regarded as a long-term, stable real estate investment location, primarily based on its fundamentals rather than on any short-term incentives."
Mr Aakash Patel, Managing Director, Atul Projects
"Mumbai's real estate market will benefit from infrastructure investment as part of India's budget. Since FY2014-15, the public capital outlay has grown from ₹2 lakh crores to ₹11.2 lakh crore (as per the BE 2025-26) with a proposal of an additional ₹12.2 lakh crore for FY2026-27, establishing long-term certainty and confidence in the development of cities. The creation of the Infrastructure Risk Guarantee Fund will reduce the risk of building and financing properties. An additional benefit of the government's reduction in TDS on NRI property sales will create liquidity to enable greater global investment in the Mumbai property market. Continued government support for the development of REITs and InVITs will help facilitate institutional investment in urban infrastructure and completion of projects will require accelerated processing and coordination to convert public sector funding into fast and efficient building processes and greater buyer confidence."
Attributed to- Rahul Ghose, Founder and CEO, Octanom Tech and Hedged.in:
In India's 2026-27 Union Budget, there is evidence that the government is working hard to ensure technology and innovation will play a central role in the country becoming a leading and growing economy. One of the main areas where this is being demonstrated has been through significant investments into digital public infrastructure and AI-enabled governance frameworks. These investments have created a foundation upon which many emerging, innovative, and deep-tech companies are creating scalable and enterprise-class solutions.
For tech businesses functioning at the tri-junction of data, intelligence, and decision making processes, the attention given to increased productivity, skilled training of employees, and bolstered support for MSME's will also be of great importance. Given that AI and advanced analytics continue to see increased utilization across many businesses, the success of the execution and cooperation among companies and individuals within the tech eco-system is going to be critical to turning policy intent into real and tangible results.
The increase in STT is the only chink in the armor and is likely to further dampen the sentiment of options traders who are already losing money. It will now make it even more expensive to trade this asset class, which has anyway seen record-breaking losses as per the regulator. This, in my opinion, could have been avoided; instead, measures to curtail investor entry into this space could have been implemented.
On the whole though, this budget establishes a strong foundation to move toward innovation-driven economic growth, but there needs to be a balance between policies that deal with the generation of new technology and those that will support market access.
Mr. Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation:
Union Budget 2026–27 focused on sustained 7% growth through fiscal discipline, structural reforms, and people-centric development. It prioritised manufacturing, MSMEs, services, infrastructure, energy security, and trust-based governance, while advancing Viksit Bharat via inclusive growth, financial stability, and ease of doing business. The bullion industry had expected a cut in import duty on gold, GST rationalisation, export incentives and extended credit support. The Budget announced capital gains tax exemption on RBI Sovereign Gold Bonds, applicable only to original subscribers, not to secondary market buyers, while there were no announcements of any meaningful reduction in gold import duty or GST reforms.
Mr. Haresh Karamchandani, MD and Group CEO, HyFun Foods:
"The Union Budget of 2026-27 emphasizes the importance of strengthening India's logistics base and enhancing India's competitiveness in exports through a number of initiatives, including the development of national waterways, dedicated freight corridors and promoting coastal cargo movement. The food processing and frozen food (FFPF) sector will require faster, more predictable movement of products and improved port connectivity to enable companies to grow exports, reduce discarded product and bolster resilient cold chains to support supply networks.
Additionally, the budget's focus on enhancing productivity in agriculture through technology-led governance, including the implementation of digital and AI enabled systems throughout the agri value chain, will ultimately enable processors to work more closely with farmers through greater consistency, traceability and planning of their crops. Continued investment in integrated infrastructure, consisting of farms, cold storage, transport corridors and seaports, will be paramount to tap India's potential of being a global hub for exports of processed and frozen food."
Mr. Shobhit Singh, MD & CEO at Stone Sapphire India Pvt. Ltd
"The Union Budget 2026–27 reinforces the government's intent to strengthen domestic manufacturing and build globally competitive Indian brands. The focused effort towards micro, small and medium enterprises; the revival of traditional industrial clusters; and the focus on specific product sectors like sport's goods manufacturing in the 2026-27. Budget will be a great benefit for many other sectors such as Toys, Stationary, Sporting Equipment & Homeware.
The budget provides a strong indication that sports is going to become a growth sector and provide job opportunities.The dedicated initiative to promote manufacturing, research and innovation in sports goods, alongside the expanded Khelo India mission's focus on talent pathways, coaching and infrastructure, is a strong signal for companies across sports equipment, materials and the wider home-and-lifestyle consumption chain.
Supporting the Production of sports goods by creating an Eco-system for Sports Goods Design/Development and Material Innovation is a timely initiative as it creates a solid basis for companies such as Stone Sapphire India, to increase their domestic value added , improve their quality of product and lessen their reliance on imports. These measures, along with investment in infrastructure, skills and innovation, will assist organized players grow responsibly and support India's expanding Sports & Fitness Economy. Over time, improved connectivity, city-led growth and services-driven demand should further expand the addressable market for organised consumer categories. We see this Budget as a positive step towards accelerating long-term growth while contributing meaningfully to India's manufacturing and sports ecosystem."
The Union Budget for FY 2026–27 continues the government's reform-led focus on improving farm incomes. The emphasis on high-value crops like cashew and initiatives such as Bharat-VISTAAR reflects a push towards more efficient, technology-led farming. This builds on earlier reforms such as GST rationalisation in tractors, which reduced cost friction and improved demand transparency. Together, these measures support wider adoption of mechanisation and data-driven practices as Indian agriculture moves up the value curve. The increase in capital expenditure to ₹12.2 lakh crore and the sustained focus on infrastructure are also welcome and support construction activity and equipment demand across roads, logistics and urban development. The proposed scheme for construction and infrastructure equipment manufacturing is another positive step and we look forward to its details. " - Bharat Madan, Whole-time Director & CFO, Escorts Kubota.
Suraj Punjabi, Cofounder – Medicine Walla, on today's Union Budget with respect to healthcare and medicines.
"The Union Budget's focus on healthcare is a meaningful step towards improving access and affordability for patients nationwide. Making 17 essential medicines, especially for cancer and rare diseases, duty-free is a patient-centric decision that will help reduce treatment costs at the retail level and enhance access to critical medicines. Such measures strengthen last-mile healthcare delivery and support community pharmacies in serving patients better."
Himanshu Arya, Founder, Luxury Cart (India's leading destination for pre-owned luxury cars) on automobile industry :
"The Budget sends a clear signal of long-term intent for India's automotive sector by addressing both cost pressures and structural vulnerabilities. Duty relief on lithium-ion batteries and cobalt is expected to ease EV manufacturing costs, while investments in critical mineral security and automotive-grade semiconductors aim to reduce supply-chain risk. At the same time, higher capital expenditure and improved rural connectivity are likely to support demand across commercial vehicles and entry-level segments. Together, these measures create a more predictable environment for mobility players, even as consumer preference continues to evolve towards value-led and pre-owned options."
This Budget sends a strong signal that India is investing not just in growth, but in long-term future-readiness through skills, systems and stronger institutions. The focused push on fintech, NBFCs and the banking ecosystem is timely and strategic, setting the stage to unlock credit, accelerate innovation and deepen trust across the financial landscape. For the loyalty ecosystem, this creates a powerful tailwind - stronger digital rails, deeper data maturity and broader merchant participation. With human capital, infrastructure and investments aligned in one direction, the economy's pillars come together like a jigsaw, building a cohesive foundation for India's long term growth.Amresh Acharya - Managing Director and CEO at Loylty Rewardz.
Deepak Pahwa - Chairman, Pahwa Group Managing Director, Bry-Air on India Semiconductor Mission 2.0 :
"Budget 2026 marks a structural shift in India's semiconductor strategy by recognising that scale without sustainability is not globally competitive. With India Semiconductor Mission 2.0 and a proposed Rs 40,000 crore outlay for electronics manufacturing, the focus now moves beyond capacity creation to process excellence. Semiconductor plants are among the most energy and environment intensive manufacturing units, making energy efficiency, contamination control and decarbonisation non-negotiable. India's real advantage will come from building fabs that are cleaner, more efficient and cost-competitive by design. This approach will determine whether India becomes a serious semiconductor manufacturing hub or merely an assembly destination."
Sree Balaji, Co-Founder and Group CEO, iLink Digital-
"We welcome the Union Budget 2026's strong focus on AI and digital infrastructure, which positions emerging technologies as central to industrial competitiveness. Initiatives such as the India AI Mission and the recognition of AI as a force multiplier for governance and enterprise operations create a positive outlook for AI-led modernisation across manufacturing and services. As adoption deepens, enterprises will increasingly prioritise scalable, secure, and data-driven technology solutions to enhance productivity and resilience. We look forward to being part of India's AI-led growth journey."
Prateek Maheshwari, Co-Founder, PhysicsWallah, Said,
"Education today is closely linked to technology shifts and job readiness. It is heartening that the Union Budget 2026 recognises and works towards fulfilling that need, signalling that it is truly a budget for the youth of India.
The Budget clearly reiterates the importance of linking education with employability which can be seen through emphasis on integration of emerging technologies in curriculum including AI-led learning right from school to higher education as well emphasis on skill development.
The decision to launch AVGC (animation, visual effect, gaming and comics) Content Creator Labs in 15,000 schools and 500 colleges is a forward looking step, as we know that this sector will require millions of professionals and we are finally moving beyond rote-learning methods to make Bharat skill-based and future-ready right from the classroom. We welcome the announcement of the high level 'Education to Employment and Enterprise' committee because it has the potential to bridge the gap between degrees and employability.
Along with being futuristic, the Budget is inclusive with its focus on improving regional education infrastructure, university townships, and hostels for girls pirsuing higher education in STEM institutions.
On the financial side, reducing the TCS rate for overseas education to 2% is a great move for students aspiring to pursue education abroad. However, to truly democratize education for the masses within India, we still need to address the GST on educational services. Affordability is the key to access, and that remains our next big challenge."
Aparna Iyer, CFO, Wipro Limited-
“It is commendable to see the government meeting the fiscal deficit targets for FY’26 despite a very volatile external environment, tax rate rationalization both on taxation for Individuals announced as part of last budget and GST rates rationalization during the year.
The budget clearly articulates the Government’s vision to promote the Indian IT services sector as a primary driver of India’s economic growth, leveraging Artificial Intelligence (AI) as the force multiplier. By identifying AI as central to accelerating and sustaining economic growth, the government underscores its strategy to establish India as an AI-powered economic superpower. Proposal to provide long term tax exemption for data center services provided from India to foreign customers will help in establishing India as a data center hub.
The proposals such as combining IT services and R&D Services into a single bucket, increasing the threshold limit for safe harbor and providing a 2-year timeline for conclusion of unilateral APAs will provide tax certainty and reduce the cost of compliance for companies operating in the sector.
We also welcome the government’s initiatives to further improve ease of doing business, as these reforms will support enterprises across sectors by alleviating operational challenges and boosting India’s economic growth momentum.”
Mr. Vikram Handa, Managing Director, Epsilon Advanced Materials Pvt Ltd-
"The Union Budget 2026 takes a meaningful step toward strengthening India's lithium ion battery and critical minerals ecosystem by addressing long standing gaps across the value chain. The focus on critical mineral availability, domestic processing, and manufacturing readiness reflects a clear understanding that India's energy transition must be supported by robust material supply chains.
Customs duty exemptions on key raw material inputs, capital equipment, and lithium ion cell manufacturing will help ease cost pressures and improve project viability. However, to translate this momentum into scale, greater focus is needed on upstream battery materials such as anodes and cathodes. Targeted CAPEX incentives in these segments are essential to de-risk large investments and enable capacity to grow alongside cell manufacturing.
Over the long term, India's progress toward Atmanirbhar Bharat will depend on how effectively these material processing capabilities are built domestically. Supporting material manufacturers to invest in technology, capacity, and upstream resources will be critical to developing a reliable, competitive, and resilient ACC supply chain for the country."
Himanshu Arya, Founder, Luxury Cart (India's leading destination for pre-owned luxury cars) on automobile industry :
"The Budget sends a clear signal of long-term intent for India's automotive sector by addressing both cost pressures and structural vulnerabilities. Duty relief on lithium-ion batteries and cobalt is expected to ease EV manufacturing costs, while investments in critical mineral security and automotive-grade semiconductors aim to reduce supply-chain risk. At the same time, higher capital expenditure and improved rural connectivity are likely to support demand across commercial vehicles and entry-level segments. Together, these measures create a more predictable environment for mobility players, even as consumer preference continues to evolve towards value-led and pre-owned options."
Gautam Rajgarhia, Promoter & Chairman, Delhi Public School – Varanasi, Nashik, Lava Nagpur & Hinjawadi Pune -
As Promoter and Chairman of Delhi Public Schools across multiple cities, I view the Union Budget 2026–27 as a well-intentioned step in the right direction, but one that also highlights a deeper truth about Indian education.
Access, by itself, is not the solution. Over the years, the government has made sincere efforts to expand educational access, whether through infrastructure creation, scholarships, digital initiatives, or skill-based programs. These are necessary interventions for a country of our scale. However, access without accountability and quality outcomes does not create transformation as it merely increases numbers.
What India needs today is access with accountability, and growth with measurable learning outcomes.
From my experience of running schools across different geographies, I can say with conviction that quality education requires three things working together:
• Strong governance and regulation
• High standards of academic and operational accountability
• And active participation from the private sector
This is where public–private partnerships in education can play a decisive role.
Private institutions bring agility, innovation, and operational efficiency. The government brings scale, reach, and policy support. When these two work in alignment, with clearly defined quality benchmarks and transparent oversight — the impact can be transformational.
Initiatives announced in this budget, such as investments in skilling, technology-enabled learning, and institution-building, are steps in the right direction. But for them to truly succeed, they must be supported by a framework that encourages responsible private participation while ensuring student outcomes remain the central focus.
Education cannot be viewed only as a welfare expense. It is long-term nation-building capital.
If India is to truly harness its demographic dividend, we must move beyond the idea of education as access alone and work towards education that is accountable, outcome-driven, and future-ready. That is where meaningful reform will begin.
Union Budget 2026–27 quote by Mr. Rohit Gera, Managing Director, Gera Developments:
"The Union Budget 2026–27 presents a growth-oriented fiscal approach that balances discipline with targeted investments, reinforcing confidence in India's macroeconomic fundamentals. The increased allocation for infrastructure and urban development, with a focus on Tier-2 and Tier-3 cities and improved connectivity, is expected to unlock new residential markets and enhance livability in emerging urban centres. Higher capital expenditure and support for urban economic regions should strengthen long-term residential real estate activity by improving demand fundamentals and lowering execution risks for developers. While direct tax relief for homebuyers remains modest, sustained infrastructure investment and clearer financing pathways can indirectly support affordability. The Budget also highlights the need for clearer policies on affordable and rental housing to ensure that growing demand is met with effective delivery frameworks."
