Shaifalika Panda, Founder & CEO, Bansidhar & Ila Panda Foundation (BIPF):
“Women’s entrepreneurship is no longer about participation alone; it is about ownership, scale and leadership. The Union Budget 2026–27 takes a decisive step in this direction by explicitly enabling women to move from credit-linked livelihoods to becoming owners of enterprises. The proposal to establish Self-Help Entrepreneur (SHE) Marts as community-owned retail platforms marks a structural shift in how women-led businesses are integrated into markets, value chains and formal retail ecosystems.
By combining innovative financing, collective ownership models and cluster-level aggregation, the Budget recognises that sustainable women entrepreneurship requires more than access to loans—it requires access to markets, branding and institutional support. This approach builds on the success of grassroots programmes while creating pathways for women entrepreneurs to scale, formalise and compete.
For States like Odisha, where women play a pivotal role in self-help groups, micro-enterprises, agro-processing and handicrafts, such interventions can unlock significant economic and social dividends.
As India advances towards Viksit Bharat, empowering women as entrepreneurs and business owners is not just a social imperative; it is an economic necessity. The Budget’s emphasis on women-led enterprises reinforces the idea that inclusive growth is most powerful when women are positioned at the centre of India’s economic transformation.”
Mr. Ankit Mehta – CEO of ideaForge Technology Pvt. Ltd. on the Defense & Technology segment-
"We congratulate the Finance Minister for presenting a pragmatic Budget that continues to prioritise Defence capital outlay while strengthening India's domestic manufacturing ecosystem, electronics base, and semiconductor capabilities. Proposed measures such as the India Semiconductor Mission 2.0, the expanded Electronics Components Manufacturing Scheme, and support for advanced technology R&D signal a strong focus on building strategic supply chains and indigenous high-tech capability.
With Defence capital expenditure in FY27 rising to ₹2.19 Lakh Crore, almost 22% higher than last year, the government has signalled a strong commitment to modernisation and long-term capability building. This provides clear guidance for frontier technologies and positions ideaForge to continue leading in indigenous UAVs, electronic warfare systems, and advanced aerial platforms, while contributing to India's vision of a Viksit Bharat and a forward-moving Bharat."
Dr. Richa Rai, CEO, Heritage Hospitals said, "The Budget's focus on strengthening healthcare infrastructure and its provision of ₹10,000 crore for Biopharma Shakti initiative is a positive step for the healthcare sector. Support for regional healthcare hubs and efforts to improve access to advanced treatments will help hospitals expand specialised services beyond metros. Altogether these measures can play an important role in improving affordability, capacity and quality of care across regions."
Mr. Anupam Ghosh, Managing Director, Anondita Medicare Ltd: "The Budget's focus on strengthening healthcare delivery and supporting domestic manufacturing creates a supportive backdrop for preventive healthcare products. Family planning and reproductive health continue to be essential public health priorities, and wider access depends on affordability, steady manufacturing and efficient distribution. Measures that encourage local production, simplify compliance and support healthcare supply chains will help companies like ours ensure consistent availability of quality contraceptive products across both urban and rural markets."
This budget looks like India is finally treating technology as one connected system: chips, AI, software, cloud, and manufacturing working together instead of separate policies. The ₹40,000 crore allocation for Semiconductor Mission 2.0 is a strong signal. It strengthens everything from chip design and fabrication to ATMP, R&D, and talent. That matters because AI computers are becoming a strategic resource. Building more capability at home reduces supply-chain risk, brings down long-term costs, and supports sovereign AI infrastructure, indigenous foundational models, and large-scale data centres under the India AI Mission.
On the services side, the tax and regulatory clean-up is equally important. Creating a single 'Information Technology Services' category, raising the transfer pricing safe harbour threshold from ₹300 crore to ₹2,000 crore, moving to a rule-based automated approval process, and extending validity to five years should significantly improve predictability and reduce compliance friction and disputes. Faster unilateral APAs and extended modified return benefits further strengthen India's position for IT services, GCC growth, and high-value digital exports, especially at a time when AI is reshaping global delivery models.
The long runway given to data centres and cloud investment is also strategically timed. A tax holiday till 2047 for foreign cloud providers using Indian data centres, along with a 15% safe harbour for related-party data centre services, creates the kind of long-term visibility hyperscalers need to commit serious capital. Add support for just-in-time logistics for electronics manufacturing, and the intent is clear: build a flywheel across semiconductors, cloud, AI, and advanced manufacturing that can drive exports, jobs, and innovation over the next decade, aligned with the Viksit Bharat vision.— Nandagopal P CEO, Asymmetri; CTO, Gacsym Ventures and Limited Partner, Arya Ventures.
Mr. Utkarsh Gupta, Managing Director, Ramagya Group commented,"The Budget's renewed focus on strengthening education infrastructure and skills development is encouraging for institutions and learners alike. Initiatives such as setting up content and digital labs in 15,000 secondary schools and 500 colleges, the announcement of girls' hostels in every district to improve access and retention, and support for five university townships reflect the government's intent to strengthen both foundational and higher education. At the same time, expanding creative and industry-linked learning will help prepare students for fast-evolving entrepreneurial and workforce requirements."
Ms. Sneha Rathor Khandelwal, CEO, Sanfort Group of Schools said, "Education and skill development continue to be a priority, with initiatives such as the establishment of digital and content labs in tens of thousands of schools and colleges and support for skilling programs. These measures can help bridge learning gaps and equip students with future-ready skills, particularly in an era where technology integration in education is rapidly rising."
Basant Bafna, Head - Fixed Income, Mirae Asset Investment Managers (India)
"The Budget provides continuity in the form of Fiscal Prudence while maintaining thrust on Reforms. Net Market Borrowing at INR 11.7 lakh crores is broadly in line with market expectations with the Government scoring on its commitment to fiscal consolidation with Fiscal Deficit budgeted to fall to 4.3% in FY 2027 from 4.4% in FY 2026 under the broader goal of achieving Debt to GDP ratio of 50 +/- 1% by FY 2030-31.
The budget also scores on continued front loading of Government Capex at a time when policy transmission has been lagging. The announcement on Market Making Framework for Corporate Bonds and introduction of Total Return Swaps' reaffirms the Government's commitment towards deepening Corporate Bond Markets."
Mr. A Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Ltd. said "The Budget remains focused on sustaining long-term economic growth while maintaining fiscal discipline. India's growth story is expected to remain intact with announcements on manufacturing, MSME's and agriculture along with services sector including healthcare, tourism and hospitality will create employment opportunities for the younger population at large. This coupled with focus on technology aligns well with India's vision of becoming Viksit Bharat by 2047. The proposals to deepen the corporate bond market and improve access to capital are particularly positive. The increase in STT on derivatives may impact trading but it should be looked at as an encouragement to gradually shift towards cash market and long-term investing."
Vivek K Singh, CMD, SNVA Veranda
The Union Budget 2026–27 is a Yuva Shakti–driven budget that places India's youth at the heart of national growth. With education allocations crossing ₹1.28 lakh crore, the budget clearly positions education, skills, and technology as engines of economic progress. The renewed focus on strengthening higher education through improved academic quality, expanded digital infrastructure, and enhanced research capacity will help Indian students access globally competitive learning environments and accelerate innovation-led growth, strengthening India's knowledge economy.
A strong push towards skilling and employability aims to benefit young learners through vocational education, industry-academia partnerships, and hands-on training programs. By aligning education with market demand, the budget addresses employability challenges, supports job creation, and builds a skilled workforce critical for sustaining India's $5 trillion economy ambition.
The integration of AI in education marks a forward-looking shift, with investments in AI-enabled learning platforms, smart classrooms, and data-driven assessment tools expected to impact millions of students nationwide. Combined with a focus on future skills in data science, automation, fintech, and green technologies, the budget prepares India's youth for next-generation jobs while reinforcing the country's position in the global digital and innovation economy.
Suketu Shah, CEO, Vishal Fabrics Ltd-
"The Union Budget 2026-27 provides a well-balanced and forward-looking roadmap for the textile industry in India, stressing upon on self-sufficiency, modernization, and employment generation. The integrated approach to the National Fibre Scheme, the Textile Expansion and Employment Scheme, and the focus on cluster development is a recognition that the competitiveness of the industry can be improved by making the value chain stronger.
The focus on fibre security in natural, man-made, and new fibres tackles the existing challenge in the industry regarding input volatility and quality, which is essential for capacity planning and export competitiveness. On the other hand, the call for the modernization of the traditional textile sector through technology upgradation, joint testing facilities, and certification assistance will ensure that the gap between the country's manufacturing capabilities and new global standards is bridged.
The shift in focus to Samarth 2.0 is a move made in the right direction towards developing an industry-ready workforce that is in line with automation, efficiency, and scale. Further, the challenge mode development of mega textile parks along with the SME Growth Fund of ₹10,000 crore will definitely have a positive impact on the MSME sector. On the whole, the Budget has created a robust foundation for a resilient and future-ready textile sector and is a confidence booster for the entire textile value chain in India."
Mr. Mahavir Lunawat, Chairman & Managing Director, Pantomath Capital-
"This budget provides a massive boost to the capital market by creating new, efficient pathways for raising capital. The ₹100 crore incentive for municipal bonds and the push for CPSEs to launch dedicated REITs show a clear strategy to unlock value from public assets. By simplifying the Foreign Exchange Management (FEMA) rules and expanding the Portfolio Investment Scheme, the government is opening the doors wide for global capital to flow into Indian companies. These reforms make it significantly easier and cheaper for both the government and private enterprises to fund their next phase of growth, ensuring that the pipeline for new listings and infrastructure projects remains robust and attractive to investors.
The introduction of a market-making framework and total return swaps for corporate bonds is a game-changer; it ensures that investors can buy and sell with much greater ease and lower costs. Additionally, turning TReDS receivables into asset-backed securities creates an entirely new category of liquid assets for the market to trade. While the adjustments in Securities Transaction Tax (STT) reflect a move toward market stability, the overall emphasis on digital integration and faster settlement processes makes our trading ecosystem more transparent and resilient. We are seeing the Indian markets evolve into a highly efficient, world-class platform."
“Placing tourism at the centre of India’s growth strategy in the Union Budget 2026–27 is a welcome move. Right steps with clear focus on skilling, destination development and experiential offerings like spiritual, heritage and wildlife circuits, will certainly help strengthen domestic tourism. Initiatives such as the National Institute of Hospitality and the upskilling of guides are positive steps toward enhancing service quality and employability. However, critical structural enablers remain unaddressed. To truly unlock the sector’s potential for jobs and foreign exchange; we urgently need Infrastructure Status for the hospitality industry, GST rationalization, tax incentives for new and green hotels, and stronger measures to boost FTAs. Without these, achieving scalable, regionally-balanced tourism growth will remain a challenge,” says Pradeep Shetty, Spokesperson, Hotel and Restaurant Association (Western India) – HRAWI.
Dr Nipun Sharma, CEO, TeamLease Degree Apprenticeship
The ambition to raise the services share of India in the global economy from under 5% to 10% by 2047 marks a decisive shift in the country's growth trajectory. Services are India's most scalable engine, spanning IT, professional services, finance, healthcare, logistics, and education. Achieving this will hinge on capability building, especially as only about half of India's graduates are currently considered job-ready. Work-integrated learning and apprenticeships, which already show formal absorption rates of over 90%, offer a proven pathway to build high-order skills in analytics, digital delivery, compliance, and customer experience. Aligning training with real work will be critical to unlocking formal, knowledge-intensive jobs at scale and supporting inclusive, productivity-led growth on the path to a Viksit Bharat.
Comments attributed to Parthanil Ghosh, Executive Director, HDFC ERGO General Insurance
"With the Budget's continued focus on growth, inclusion, and long-term resilience, India is steadily moving towards the vision of Viksit Bharat 2047. By encouraging wider risk protection and financial participation, it strengthens the foundation for 'Insurance for All', positioning insurance as a vital enabler of economic and social stability.
The strong focus on healthcare through initiatives such as the Rs 10,000 crore Biopharma SHAKTI programme and duty exemptions on critical cancer medicines reflects a clear commitment to making quality treatment more accessible and affordable. When aligned with comprehensive health insurance, these measures help to manage medical expenses with greater confidence. At the same time, the exemption of interest on Motor Accident Claims Tribunal awards from income tax and TDS is a significant step towards building a citizen-centric insurance ecosystem, encouraging wider adoption of motor cover and ensuring that accident victims receive full financial support when they need it most."
Quote by Mr. Rajasekhar Papolu, Chairman & Managing Director, Brihaspathi Technologies Limited
"The Union Budget signals that India's digital growth is entering a more mature phase, driven by AI, deep-tech innovation, and robust digital infrastructure. The focus on technology-led development, indigenous manufacturing, and skill creation will accelerate adoption of advanced solutions across smart cities, healthcare, manufacturing, and public safety. Strengthening domestic electronics and semiconductor ecosystems, alongside investments in future-ready skills, is particularly encouraging. Overall, the Budget supports self-reliance while fostering innovation, resilience, and long-term digital transformation."
Surajit Chakrabartty, CFO, MedGenome Labs Ltd, a leading genomics-driven diagnostics and research services company -
"The Union Budget 2026 clearly emphasises on enhancing our healthcare ecosystem. It also recognises the rising burden of non-communicable diseases. Making more affordable solutions accessible to patients through the Biopharma SHAKTI mission and the commitment towards scaling up the clinical research infrastructure are significant in translating scientific innovations into positive healthcare outcomes.
Increasing the number of accredited clinical trial sites and medical hubs across the country will help bring high quality advanced healthcare including genomics solutions to more patients in the Tier 2 & 3 regions. The Government's continued focus on rare diseases also highlights the role of early and accurate diagnosis in managing and treating these disorders and genomics will play a critical role here. We believe that this budget is a step ahead in recognising India's scientific and technological capabilities to drive the nation's progress." - Mr. Surajit Chakrabartty, CFO, MedGenome Labs Ltd.
