Union Budget 2026–27 draws strong endorsement from industry leaders
The Union Budget 2026–27 has received an encouraging response from industry leaders, who view it as a balanced and forward-looking blueprint for India’s next phase of growth. With a clear emphasis on fiscal consolidation, sustained public capital expenditure, healthcare and MedTech innovation, MSME empowerment, infrastructure development, and technology-driven agriculture, the Budget is seen as reinforcing macroeconomic stability while creating conditions to crowd in private investment. Together, these measures signal the government’s commitment to building a resilient, globally competitive economy.
Sanjay Bhutani, Managing Director, Bausch & Lomb & Director, MTaI said: “In the backdrop of buoyancy on GDP growth and improving domestic consumption, this Budget strikes a prudent balance between growth and predictability. With reducing Debt to GDP ratio and fiscal deficit, It reinforces macro stability through a clear fiscal consolidation path, while sustaining a strong public capex push that should crowd in private investment over the medium term.”
“For healthcare and MedTech, creation of regional hubs for promoting medical tourism, a combination of duty exemption on additional life‑saving drugs and correction of inverted duty structures on key components, and a larger electronics manufacturing outlay will lower input costs and strengthen the case for making advanced devices in India,” he added.
Mandeep Singh Kumar, Managing Director & Vice President, Medtronic India & MTaI member said: “The Union Budget 2026–27 marks a significant leap for India’s healthcare sector, placing technology, innovation, and talent at its core. The Biopharma Shakti program, with a ₹10,000-crore investment, is set to accelerate R&D and drive impactful innovation in healthcare. The initiative to train one lakh allied health professionals and 1.5 lakh multi-skilled caregivers will strengthen clinical capacity and support the safe deployment of advanced medical technologies nationwide.”
Vivek Jalan, Partner at Tax Connect Advisory Services, A Multi-disciplinary PAN India Taxation Firm, said: “The Union Budget 2026-27 Champions the cause of MSMEs, Manufacturing and Foreign Funding. MSMEs have been supported by a host of proposals including Equity Support wherein Rs.10000 Crores have been allocated for SME Growth based on select criteria. Also, by Strengthening TReDS as a platform for purchase, invoice discounting, and boosting receivables.”
Subrata Mondal, Managing Director & CEO, IFFCO-TOKIO General Insurance Company Limited, said: “The Union Budget 2026 is a balanced and growth-oriented budget that addresses key structural and sectoral priorities. The exemption of MACT interest from income tax and removal of TDS will significantly ease motor claim settlements and improve claimant experience. The proposed review of FEMA NDI Rules is a positive step towards creating a more investor-friendly environment, supporting capital flexibility and global participation in the insurance sector.”
Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said on Union Budget 2026-27, “The Union Budget 2026 provides a strong and credible roadmap for India’s next phase of growth, led by a sharp focus on infrastructure, urban development, and financial reforms. The government’s decision to raise public capital expenditure to ₹12.2 lakh crore in FY27, a 9 per cent increase over FY26, will play a critical role in accelerating project execution and crowding in private investment.”
Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said: “The Union Budget 2026–27 reinforces the government’s long-term commitment to infrastructure-led growth, which remains a critical enabler for the real estate sector. The emphasis on infrastructure, risk mitigation, and structured city growth aligns well with our long-term approach to creating high-quality developments that contribute meaningfully to India’s evolving urban landscape.”
Dr PS Gahlaut, Managing Director, Indian Potash Limited, said: “In order to increase crop production, the country needs to significantly increase farm mechanisation and adopt modern farming techniques. In this regard, the announcement of establishing Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources), a multilingual AI tool which would integrate the AgriStack portals and the ICAR package on agricultural practices with AI systems, is a timely move. It is expected to promote deployment of precision farming technologies across geographies and crops, thus allowing farmers to make informed decisions, which in turn would help enhance crop yield and nutrition by promoting optimum utilisation of resources such as water, fertilizers and other agro-chemicals.”
Quotes from real estate sector
Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd. said: “The Union Budget 2026 provides a strong and credible roadmap for India’s next phase of growth, led by a sharp focus on infrastructure, urban development, and financial reforms. The government’s decision to raise public capital expenditure to ₹12.2 lakh crore in FY27, a 9 per cent increase over FY26, will play a critical role in accelerating project execution and crowding in private investment.
“The creation of the Infrastructure Risk Guarantee Fund, along with the rollout of seven high-speed rail corridors and the operationalisation of 20 new national waterways over the next five years, will significantly enhance connectivity, reduce logistics costs, and improve the overall efficiency of the real estate and infrastructure ecosystem.
“Urban development receives a sustained boost with an allocation of ₹5,000 crore per year for five years for City Economic Regions, alongside a continued focus on Tier-2 and Tier-3 cities as emerging growth centres. These measures will enable planned urbanisation, support civic infrastructure, and unlock housing demand across new geographies.
“Further, accelerated recycling of CPSE real estate assets through dedicated REITs and continued emphasis on InvITs will deepen capital markets, improve liquidity, and strengthen investor confidence across the sector.
“On the consumption side, income tax reforms— including no tax liability up to ₹12 lakh under the new tax regime, rationalised TDS and TCS rates, and reduced TCS on overseas tour packages to 2 per cent —will enhance disposable incomes and ease compliance, providing indirect yet meaningful support to housing demand.
Overall, the Budget aligns strongly with the long-term vision of Viksit Bharat by 2047 and lays the foundation for sustainable, inclusive, and future-ready economic growth.”
Vikas Bhasin, Managing Director, Saya Group, said: “The Union Budget 2026 proposals are, to a large extent, in line with expectations, particularly the government’s continued focus on sustained investment in infrastructure that truly connects people and regions. By strengthening physical and urban infrastructure, the Budget aims to make cities more liveable, efficient, and accessible for citizens across income segments.
“The emphasis on Dedicated Freight Corridors, port-led development, and infrastructure expansion in Tier II and Tier III cities is expected to provide a significant boost to the housing sector. These measures will not only support real estate development in emerging urban centres but are also likely to have a positive spillover effect on overall housing demand and price stability in metro markets.
“While property prices in Tier I cities are expected to remain largely range-bound, improved connectivity and infrastructure development will encourage residential growth in suburbs and satellite towns. This will enable homebuyers to access more affordable housing options slightly farther from central business districts, without compromising on connectivity to workplaces and major urban hubs.”
Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said: “The Union Budget 2026–27 reinforces the government’s long-term commitment to infrastructure-led growth, which remains a critical enabler for the real estate sector. The emphasis on infrastructure, risk mitigation, and structured city growth aligns well with our long-term approach to creating high-quality developments that contribute meaningfully to India’s evolving urban landscape.
“Creation of the Infrastructure Risk Guarantee Fund will enhance lender confidence in the infrastructure sector, which is expected to encourage greater private sector participation in large-scale projects. This bodes well for the real estate sector as real estate demand is closely linked to robust infrastructure and better connectivity.
“Moreover, the move to accelerate monetisation of CPSE-owned real estate assets through dedicated REITs while at one hand may strengthen the institutional framework for asset recycling, on the other it may also provide much desired capital efficiency in the sector. Overall, this seems to be a neutral budget from the real estate sector perspective.”
