The Union Budget 2026–27 outlines a calibrated fiscal approach, with total government expenditure estimated at ₹53.47 lakh crore, reflecting a 7.7% increase over the revised estimates of 2025–26. Interest payments continue to exert pressure on public finances, accounting for 26% of total expenditure and nearly 40% of revenue receipts. Receipts excluding borrowings are projected at ₹36.51 lakh crore, up 7.2% year-on-year, supported by an 8% expected rise in tax revenues. The government has assumed a nominal GDP growth rate of 10% for 2026–27. On the fiscal consolidation front, the revenue deficit is pegged at 1.5% of GDP, unchanged from the previous year, while the fiscal deficit is targeted at 4.3% of GDP, marginally lower than the revised 4.4% in 2025–26. Public debt management remains a priority, with outstanding liabilities estimated at 55.6% of GDP in 2026–27 and a medium-term goal of reducing this to around 50% by March 2031.
Mr. Raheel Shah, Business Development Director, BDR Pharmaceuticals:
"The Union Budget's focus on developing India's pharmaceutical and biopharmaceutical sector, especially through the 'Biopharma Shakti' initiative with a funding of ₹10,000 crores, is a welcome and well-planned step given the shift in the country's disease burden towards non-communicable diseases. In this context, other initiatives like the exemption of basic customs duty on certain cancer medicines and support for the import of rare diseases will also go a long way in making treatment more affordable for patients. At BDR Pharmaceuticals, we believe that this will be a major catalyst to promote innovation, enhance local manufacturing, and ensure an uninterrupted supply of quality and affordable cancer medicines."
"The Union Budget 2026 is a major turning point for the lab-grown diamond industry. By removing the strict IGCR conditions on importing diamond seeds, the Government has replaced slow paperwork with speed and efficiency. For a brand like Elevé Diamonds, which combines the long-standing heritage of Tibarumal Jewels with modern CVD technology, this 'trust-first' policy is a huge boost. It allows us to focus fully on making luxury diamonds more accessible and growing our brand globally. This move truly strengthens India's position as the world leader in ethical and sustainable jewelry."- Prajay Maganlal, CEO, Elevé Diamonds.
Ravi Kunwar (VP and CEO, HMD India and APAC)
"The Hon'ble Finance Minister must be lauded for her broad vision in covering several key sectors in the Budget. The hiked allocation of ₹40,000 crore for the Electronic Components Manufacturing Scheme will give a fillip to varied verticals, including the telecom industry. Similarly, the proposed launch of the India Semiconductor Mission 2.0, focused on industry-led R&D and training centres for chips, is another welcome announcement.
The move to transform the Customs warehousing framework into a warehouse operator-centric system via self-declarations, risk-based audit and electronic tracking will eliminate the problems of officer-linked approvals. This will reduce transaction delays and lower compliance costs.
The decision to create a High-Powered 'Education to Employment and Enterprise' Standing Committee to help in assessing the impact of emerging technologies, such as AI, on jobs and skill requirements, will be useful in introducing suitable measures to mitigate the downside. The promotion of environmentally sustainable cargo movement through the proposed East to West corridor is also good news. Likewise, the decision to build seven high-speed rail corridors between cities as growth connectors will give a huge boost to industrial activities across India."
Manoj Nair (Head of Applications at Fujitsu)
"The Hon'ble Finance Minister has presented a forward-looking Union Budget that strongly reinforces India's Viksit Bharat ambition, and conducive policies to make India a global technology hub. There is a huge focus on AI by positioning it as a force multiplier, combined with robust policies to support the growth of data centres. The launch of the India Semiconductor Mission 2.0 will accelerate the development of a resilient semiconductor ecosystem, spanning materials, equipment, full-stack IP design, and enhancing supply chains.
The move to approve Safe Harbour for IT services through an automated, rule-based mechanism is a significant reform that enhances ease of doing business and provides certainty in taxation for the industry. Equally encouraging is the focus on positioning data centres as critical infrastructure, along with the proposal to extend tax holidays till 2047 for global cloud service providers operating from India.
Together, these measures will help in boosting investor confidence, enhance innovation, create long-term growth opportunities for semiconductor and IT services companies, including data centre players, while further strengthening India's role in the global technology value chain."
Bimal Khandelwal (CEO, STT GDC India)
"The Union Budget 2026 marks a decisive policy intervention that holistically addresses capital formation, demand creation, and long-term sustainability for India's data centre sector. The proposed tax holiday till 2047 for foreign cloud providers using Indian data centres is expected to unlock increased foreign direct investment, position India as a preferred global digital infrastructure destination, and materially enhance its competitiveness in attracting hyperscale and AI-led workloads. This, in turn, will drive sustained demand for low latency, resilient digital infrastructure critical to enabling India's Viksit Bharat 2047 digital economy agenda. We welcome the Government's integrated approach, which aligns fiscal incentives with infrastructure readiness and sustainability priorities. At STT GDC India, we are well positioned to support this next phase of growth through scalable, AI-ready, and sustainable data centre infrastructure that underpins India's digital future."
Divyajot Ahluwalia, Director at wTvision Solution Pvt. Ltd.:
"The most consequential aspect of this Budget for the sports sector is its emphasis on continuity and system-building rather than isolated interventions. A decade-long roadmap through the Khelo India Mission acknowledges a long-standing reality that athlete development, infrastructure creation and industry growth cannot be achieved within short policy cycles. Equally significant is the recognition of sport as an economic sector, particularly through the focus on domestic manufacturing of sports equipment and an emphasis on structured leagues, competitions and sporting events. Well-organised and high quality broadcast competitions play a central role in building fandom, which is often the starting point for participation leading to a bigger shift.
With the right ecosystem in place, combining athlete development, competition structures and broadcast-led reach, these efforts have the potential to deliver the outcomes our government is aiming for. This is a direction that strengthens the sports system as a whole, and one that we stand firmly behind, committed in spirit and action, to help Indian sport grow in depth, relevance and scale, to a position of undisputed leadership."
Attributed to Mr. Siddharth Iyer, COO, OneStep Global
This year's Union Budget reinforces India's commitment to building future-ready talent through stronger investment in research, emerging technologies, and industry-linked education. The emphasis on innovation and access signals a clear recognition that global competitiveness depends on both capability and opportunity at scale.
As learning becomes more specialised and globally connected, international exposure is an increasingly important extension of education. Cross-border academic engagement gives students access to new research ecosystems, professional networks, and career pathways. Strengthening financing and scholarship ecosystems ensures that global opportunity remains accessible to a wider group of learners. The decision to reduce the Tax Collected at Source on overseas education remittances under the Liberalised Remittance Scheme from 5% to 2% is a welcome step that eases financial planning for families and lowers practical barriers to pursuing international education.
The Budget's direction supports a closer link between domestic capability building and global engagement. A system that encourages both institutional strength at home and international mobility will help Indian students develop the skills and confidence required to succeed in a globally integrated workforce, while reinforcing India's position in the knowledge economy.
Attributed to Mr. Sripal Jain, CA/US CPA, Co-founder, Simandhar Education
The Union Budget 2026 sends a strong signal that professional, career-focused education is central to India's workforce strategy. By enabling institutions such as ICAI and ICSI to design short-term modular programmes aligned with employability, the government is reinforcing the importance of practical skills and industry readiness.
This shift comes at a critical moment. As India's services economy expands and advanced technologies such as AI reshape financial operations, the demand for highly trained finance and accounting professionals is accelerating. Businesses increasingly require talent that understands global standards, compliance frameworks, and technology-enabled financial systems from day one.
At the same time, initiatives such as the Urban Challenge Fund will play an important role in transforming Indian cities into globally competitive business hubs. As infrastructure and governance strengthen, we can expect a sharp rise in Global Capability Centers across finance, accounting, and compliance functions. This will further accelerate the need for globally trained professionals who can operate confidently in international environments.
Structured professional pathways that combine technical depth with real-world application will be essential to meeting this demand. The Budget's direction highlights the importance of focused credentials and continuous upskilling, creating a strong foundation for building a globally competitive finance workforce.
Attributed to Mr. Amit Baveja, Managing Director, Burlington English India & South Asia
The Union Budget 2026 reinforces India's commitment to human capital development and future‑ready skills at a time of rapid global economic change. By emphasizing outcome‑focused investment in digital learning, skilling, and workforce readiness, the Budget reflects a growing national priority on quality and relevance in education that supports employability.
As technology reshapes workplaces across sectors, communication and language proficiency have become core professional skills. The ability to collaborate, engage with global markets, and operate confidently in digital environments increasingly depends on strong English capability.
For India's youth power to translate into sustainable opportunity, these foundational skills must be part of the conversation alongside technical training.
By recognising that readiness matters as much as access, this Budget sets the stage for inclusive progress. With disciplined execution and strong partnerships, India is well positioned to equip its learners with the confidence and competence required to thrive in a globally connected economy.
Attributed to Dhruv Krishnaraj, Co-Founder & Director, Student Circus
"Budget 2026 deserves appreciation for reinforcing long-term stability and employment creation as central pillars of India's growth strategy. The sustained emphasis on fiscal discipline and job-led growth creates a strong foundation for more execution-driven reforms in education and skills.
An important dimension of this vision is India's globally trained student talent that is increasingly choosing to return home. With international exposure, strong English and communication skills, and experience in technology-led work environments, capabilities clearly aligned with Budget priorities, this cohort is well positioned to contribute meaningfully to a Viksit Bharat.
By bringing education, employment, and enterprise into a unified framework, Budget 2026 strengthens the case for outcome-driven learning models that focus on skills, industry exposure, and future-ready capabilities, reflecting how students and families now evaluate education through the lens of employability and long-term economic contribution."
Attributed to Ganesh Kohli, Founder of IC3 Movement
"The Union Budget 2026 is extremely encouraging, reflecting both continuity and momentum in India's education reforms. Announcements such as content creator labs in schools, training of allied health professionals, and the development of university townships near industrial corridors demonstrate a clear intent to connect learning with future-facing, applied career pathways.
Equally significant is the Budget's first-time emphasis on adult mental health, recognising well-being as foundational to productivity and participation. This milestone builds on initiatives already undertaken by UGC and CBSE, reinforcing the need to embed career guidance, decision-making support, and mental well-being awareness early within the education journey, helping students navigate increasingly complex academic and career choices.
Across schools and higher education, the continued policy push towards applied learning, skilling, and industry-linked pathways reflects a shift away from purely exam-centric progression. Strengthening practical skills and exposure to emerging domains ensures that students are prepared for both the country and industry.
The proposed content creator labs in 15,000 schools and select colleges under the Orange Economy initiative mark a significant step in fostering creativity-led, applied learning. By enabling students to engage with animation, gaming, visual effects, and related creative technologies, these labs provide early exposure to emerging career domains and bridge education with future employment opportunities."
Mr. Masaharu Morita, Founder and Program Director, NURA - Ai Health Screening Centre
"The Union Budget 2026 places longevity and chronic disease management at the centre of India's healthcare and life sciences agenda. The ₹10,000-crore Biopharma Shakti initiative recognises the growing burden of non-communicable diseases and the need to scale investments in biologics, diagnostics, early screening and clinical research. This marks a clear shift from episodic care to long-term health management, with prevention and quality of life as core priorities. Equally significant is the Budget's focus on accelerating AI adoption across healthcare, education and research. By integrating life sciences with AI-enabled screening, clinical decision-making and talent development, the government is laying the foundation for a future-ready healthcare ecosystem one that supports healthier, longer lives and strengthens India's position as a global hub for healthcare innovation"
Rajesh Kumar Singh, CEO, Jyoti Structures Ltd-
The Union Budget 2026–27 provides a strong and sustained policy signal for the expansion and modernisation of India's power transmission and infrastructure ecosystem. The continued thrust on public capital expenditure, development of new Dedicated Freight Corridors, creation of city economic regions, and targeted investments to ensure long-term energy security are critical enablers for strengthening the national grid and supporting India's growing power demand. Measures such as the proposed Infrastructure Risk Guarantee Fund and accelerated asset monetisation through REITs are expected to improve financing confidence, reduce execution risks and facilitate timely completion of large-scale EPC projects. For Jyoti Structures, with a proven track record in executing extra high-voltage transmission lines, substations and turnkey grid projects across India and international markets, the Budget creates a conducive environment to support grid expansion, renewable energy integration and cross-regional connectivity, while reinforcing India's broader electrification and infrastructure development priorities.
Dhruv Taneja, Founder & Global CEO, MatchLog
"The Union Budget 2026–27 delivers a visionary blueprint for India's logistics backbone, with public capex rising to ₹12.2 lakh crore, new freight corridors between Dankuni and Surat, 20 additional national waterways, coastal cargo promotion, and seven high-speed rail corridors all pointing to a clear focus on faster, greener cargo movement and last-mile connectivity. The creation of an Infrastructure Risk Guarantee Fund, dedicated REITs for CPSE real estate recycling, and a ₹5,000 crore outlay for City Economic Regions in Tier II and III cities further underline the intent to de-risk long-gestation projects and anchor logistics growth where demand is actually emerging.
Equally important are the trust-based customs and warehousing reforms and the proposed container manufacturing scheme, which can strengthen India's position in global trade flows. The next big unlock now lies in directly incentivising container reuse and reduction of empty runs, backed by data-driven frameworks for measurable emission reduction. Clear signals on technology adoption, reuse-led models, and outcome-based incentives would help scale digital platforms faster and make India's supply chains not just more efficient, but genuinely sustainable."
Dr Ashvini Jakhar, Founder and CEO of Prozo
"The Budget 2026–27 sends a clear signal that resilient, technology-led supply chains are central to India's growth strategy. What stands out is continuity rather than aggression, with central capital expenditure rising from ₹11.2 lakh crore last year to ₹12.2 lakh crore this year, reinforcing predictability and execution momentum. Railways see budgetary support rise from roughly ₹2.52 lakh crore to ₹2.78 lakh crore, with higher allocations toward line doubling, new lines, rolling stock, and signalling, directly improving the reliability of goods movement.
The Budget also emphasises multimodal logistics, with roads, railways, and waterways strengthened in parallel. Continued investment in rail freight and inland waterways, alongside highways, is critical to structurally reduce logistics costs. Focus on Tier-2 and Tier-3 cities decentralises manufacturing, drives consumption, and enables more distributed supply chains, improving regional fulfilment and last-mile efficiency.
For integrated supply chain platforms like Prozo, the Budget enables scalable, end-to-end logistics models combining warehousing, fulfilment, and data-driven visibility, providing long-term foundations for businesses of all sizes to compete efficiently in domestic and global markets."
Kaspersky- Jaydeep Singh, General manager for India, Kaspersky
"Union Budget 2026- 27 reinforces the government's strong focus on artificial intelligence and emerging technologies as force multipliers for governance, economic growth, and service delivery, while strengthening the enabling environment for digital infrastructure through its emphasis on the services sector and measures to attract global business. Continued support through initiatives such as the IndiaAI Mission, National Quantum Mission, and Research, Development and Innovation Fund reflects a clear intent to build a future-ready digital economy. Proposals around data centre-led global cloud services and safe-harbour frameworks for IT services signal a commitment to deepening India's digital backbone. As City Economic Regions and Tier II and Tier III infrastructure expand, demand for reliable, secure enterprise connectivity will rise.
The Budget takes a pragmatic, execution-focused approach to scaling technology and AI across India's digital ecosystem. Measures such as bringing IT services under a single framework, setting a common safe harbour margin of 15.5%, raising the eligibility threshold from ₹300 crore to ₹2,000 crore, and moving to an automated, rule-driven approval process significantly reduce friction for technology-led enterprises.
The emphasis on emerging technologies with AI positioned as a force multiplier for governance and productivity signals a clear shift from policy intent to implementation. As digital services, AI platforms, and data-driven systems scale across sectors, strong cybersecurity becomes essential to ensuring trust, continuity, and reliability. At Kaspersky, we believe that secure-by-design digital systems and robust cyber resilience are critical to unlocking the full value of AI-led transformation. We welcome initiatives that strengthen trust-based digital frameworks and enable organizations to adopt advanced technologies with confidence." by Jaydeep Singh, General manager for India, Kaspersky"
Blackstraw AI, Atul Arya, Founder & CEO :
"The Union Budget 2026 creates a clear pathway for enterprises to scale AI from pilots to real-world adoption. By simplifying IT services under a single framework, setting a 15.5% safe harbour margin, and raising the eligibility threshold from ₹300 crore to ₹2,000 crore, the Government has provided greater clarity and predictability for AI-led services. Coupled with the focus on responsible AI, governance applications, and real-world tools like multilingual AI for farmers, this aligns perfectly with Blackstraw AI's mission of helping organisations operationalise AI through robust data foundations, intelligent automation, and measurable outcomes.
Importantly, the Budget also introduces long-term incentives for cloud and data centre investments, including a tax holiday until 2047 for foreign cloud providers operating in India. This will strengthen India's digital backbone, ensuring enterprises have access to high-performance compute, scalable storage, and AI-ready infrastructure. Combined with the broader push on digital infrastructure, services-led growth, and emerging technologies, these measures position India to become a global hub for AI and intelligent digital transformation services, creating a highly conducive environment for innovation and enterprise adoption at scale."
Brother International (India)- Alok Nigam, Managing Director, Brother International (India)
"The Union Budget 2026 strikes a thoughtful balance between growth ambition and on-ground business realities. By simplifying GST, strengthening domestic manufacturing and placing MSMEs at the centre of the growth agenda, the government has addressed some of the most pressing needs of Indian enterprises.
The announcement of a ₹10,000 crore SME Growth Fund, along with a clear increase in outlay for electronics and semiconductor-led manufacturing to ₹40,000 crore and the launch of the India Semiconductor Mission 2.0, sends a strong signal of India's intent to deepen value addition and build resilient supply chains. The continued focus on electronics components manufacturing, industrial clusters, hi-tech tool rooms and infrastructure-led growth reinforces the long-term commitment to strengthening India's domestic manufacturing ecosystem. These measures will encourage businesses to invest in technology, improve productivity and scale with greater confidence. For MSMEs which contribute close to 30% of India's GDP better access to capital and structured growth support can significantly accelerate modernisation.
For Brother International India, this creates a more conducive environment for wider adoption of office automation and digital workflow solutions across enterprises and consumers. As India aligns more closely with global markets, the Budget's emphasis on localisation, technology adoption and ease of doing business positions businesses to compete more efficiently, while enabling us to support them with reliable, productivity-driven solutions."
