Union Budget 2026 Quote - Mr. Kartik Daftari, Managing Director & CEO at Hi-Tech Radiators Pvt. Ltd-"The Union Budget 2026 sends a strong and reassuring signal to industry by placing technology-led manufacturing at the centre of India's growth strategy. The ₹40,000 crore India Semiconductor Mission 2.0, expanded electronics manufacturing incentives and record capex of ₹12.2 lakh crore will significantly strengthen domestic supply chains and reduce import dependence in critical components. Equally important is the focus on rare earth corridors, chemical and capital goods parks and MSME enablement, which will deepen upstream capabilities and improve export competitiveness. This is a budget that translates scale into opportunity - driving investment, job creation and sustained global relevance for Indian manufacturing."
"The Budget sustains India's infrastructure momentum by improving both funding visibility and execution certainty without compromising on fiscal deficit for long term sustainability/ impact. Increasing the FY27 public capital expenditure to ₹12.2 lakh crore (₹12.2 trillion), coupled with the setting up of Infrastructure Risk Guarantee, will bolster lender confidence and de-risk bank financing, particularly during high-risk early development phases.
The stress on infrastructure - investments in new railway freight corridors, high-speed rail corridors, and 20 national waterways – will significantly enhance multimodal logistics. Additionally, the restructuring of the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is a timely move; it expands financing capacity for large-scale power projects while accelerating rural electrification.
For EPC players, these reforms translate to a steadier project pipeline, fewer funding-related delays, and renewed confidence in long-term growth. Furthermore, scaling InvITs will unlock critical capital and encourage private sector participation. Together, these measures ensure execution clarity for firms delivering complex, future-ready infrastructure at scale."-Mr. Manish Mohnot, Managing Director & CEO, Kalpataru Projects International Limited
Mr Vishal Bali, Executive Chairman, Asia Healthcare Holdings
"Budget 2026 was expected to bring multiple reforms for the growth of the healthcare sector including a major push to medical technology manufacturing in India. The total allocation for the healthcare sector has moved marginally from Rs 99,858 cr in 2025 to Rs 1,04,599 cr in 2026 which effectively means that public healthcare spending in the country as percentage of GDP remains much lower than the rest of the world. However, the Rs 10.000 cr allocation to make India as a global biopharma manufacturing hub over 5 yrs is an excellent push on the pharmaceutical side. The strategic impetus to create 5 regional medical tourism hubs which strengthens India's position as a global healthcare provider is a good idea along with strengthening the regional Ayush Ecosystem of the country. The reduction in import duty on cancer drugs given the rise of Oncology patients in the country is also a good move. Overall, the allocation for healthcare sector still does not mark an exponential inflection point given the demand supply gap for healthcare in the country, and the constantly increasing import bills of medical technology given the depreciation of the rupee in recent times"
Mr. Milan Sharma, Founder & MD, 35North Ventures (SEBI Regulated VC Firm in India).
Budgets rarely change how businesses think overnight, but this one quietly reinforces something important, India is choosing patience over panic. Hon'ble Finance Minister Nirmala Sitharaman's ninth consecutive Budget stays focused on building capacity, not chasing applause.
The rise in public capex to ₹12.2 lakh crore is less about the number and more about intent. Better freight corridors, waterways, coastal shipping, and stronger city economies mean fewer surprises in logistics and cash cycles. For exporters and e-commerce businesses, that predictability is the difference between ambition and execution.
For MSMEs, the tone has shifted meaningfully. This is not about keeping businesses alive, but helping the right ones grow with structure and confidence. Growth capital and risk-sharing matter because ecosystems are only as strong as their weakest operators.
AI, too, is treated with maturity, not as hype, but as a productivity layer across the economy. As everyone gets access, the edge will belong to those who execute well, not those who experiment loudly.
If this Budget is implemented with discipline, it gives founders and investors something rare: the confidence to think long-term, from India, without constantly looking over their shoulder.
The Union Budget 2026 presents a well-balanced roadmap inspired by the government's Tri-Kartavya approach, accelerating economic growth, building capacities to fulfil aspirations, and advancing the vision of Sabka Saath, Sabka Vikas. For companies like Insecticides (India) Limited, this direction strongly aligns with our commitment to empowering farmers through science-led crop protection and nutrition solutions.
The Finance Minister's announcement of a coconut productivity enhancement scheme is a timely intervention to strengthen farm incomes by replacing non-productive trees with high-yielding varieties in major coconut-growing states. The dedicated programmes for cashew and cocoa further support India's journey towards self-reliance, value addition, and export competitiveness, with the ambition of creating premium Indian agri-brands by 2030.
Equally significant is the government's emphasis on AI adoption in agriculture, enabling precision farming, early pest and disease detection, and data-driven input application. When combined with quality agri-inputs, AI-led advisory tools can improve productivity, optimise costs, and enhance sustainability.
From a policy perspective, the Budget also signals intent to simplify regulatory and taxation frameworks over time, which can reduce compliance friction, improve speed-to-market for new products, and ease operational challenges for agrochemical players. We also have strong expectations that the government will continue with pesticide regulatory reforms post-DMB 2025, which could improve approval timelines, enhance transparency, and support faster innovation and product launches. Together, these measures strengthen agricultural resilience, farmer prosperity, and India's long-term food and economic security." By: Rajesh Aggarwal, Managing Director, Insecticides (India) Limited and Vice-Chairman, Crop Care Federation of India.
Mr. Santanu Sengupta, Global Banking & Board Leader and Former Managing Director, Wells Fargo -
"Growth with stability and inclusion. A credible fiscal consolidation path and sustained public capex anchor confidence, while policy attention shifts decisively to competitiveness and job creation. The focus on deepening India's manufacturing and MSME backbone through India Semi- Conductor Mission (ISM) 2.0, the rare-earth magnet corridor, additional freight corridors and targeted thrust on labour intensive, export-oriented sectors such as textiles and leather, is welcome. Equally consequential is the strengthening of MSME credit plumbing via TReDS, credit guarantees and growth capital, which can unlock productivity and employment at scale. The ambition of achieving 10% of global share in services sector by 2047 is fuelled by revised safe-harbour rules benefiting GCCs and IT and the tax holiday until 2027 for cloud companies using India data centers. The thrust on investments in green energy, agri-tech, tourism and critical infrastructure signal a balanced, future-ready growth strategy. The notable downside is the increase in STT, without providing any relief on Capital gains Tax."
Mr. Sai Pramodh, VP - Investments, BlackSoil-
"This year's Budget gets the MSME playbook right by moving beyond short-term relief to structural reform. The ₹10,000 crore SME Growth Fund, ₹2,000 crore top-up to the Self-Reliant India Fund, along with enhanced credit and equity support through systemic reforms such as TReDS and CGTMSE linkages, directly strengthen MSME working capital. For MSME-focused NBFCs like BlackSoil, it enables responsible credit expansion, and reinforces India's commitment to building globally competitive, job-creating and innovation-led small enterprises."
Shyam Menon, Co-Founder at Bharat Innovation Fund
"The Budget 2025-26 marks a decisive shift in India's startup story, moving from 'digital adoption' to 'deep science innovation.' The explicit proposal for a Deep Tech Fund of Funds , combined with the ₹20,000 crore allocation for private sector-driven R&D, is the missing link we have been waiting for. Deeptech requires patient capital to bridge the 'lab-to-market' gap. By backing this with 10,000 PM Research Fellowships and a new AI Centre of Excellence, the government is simultaneously helping solve for both capital and high-quality talent. This signals that India is ready to build global IP based products and solutions, not just applications."
Mr. Parish S. Kapse, Co-Founder & Director, Team One Architects (TOA)
"The Union Budget 2026 reinforces India's infrastructure-led urban growth agenda, with targeted amendments signalling a decisive shift towards city-scale development as a long-term economic driver. The announcement of over 350 reforms under India's Reform Express, along with a strong push towards deregulation, is expected to significantly reduce compliance requirements and improve ease of execution.
Initiatives aimed at boosting manufacturing across semiconductors, dedicated chemical parks, revival of 200 legacy industrial clusters, construction equipment, electrical systems, and container manufacturing reflect a forward-looking vision for India's infrastructure and industrial future. These measures will directly enhance execution capabilities as cities grow denser and infrastructure complexity increases.
In parallel, the Infrastructure Risk Guarantee Fund, along with sustained support for REITs, InVITs and institutions such as NIIF and NABFID, will strengthen capital confidence and enable more predictable infrastructure and commercial real estate development.
The focused push on Tier-II and Tier-III cities, including the North East and temple towns, through City Economic Regions backed by ₹5,000 crore per region, further reinforces urban agglomerations aligned with local growth drivers. Coupled with rising public infrastructure investment and a sharper emphasis on utilities, mobility, and ESG-aligned mixed-use ecosystems, the Budget lays a strong foundation for Grade-A commercial development and the emergence of Tier-2 cities as credible, technology-driven destinations. For the Architecture and EPC industry, this convergence of policy, infrastructure, sustainability, and design presents a meaningful opportunity to shape resilient, future-ready urban environments at scale."
Aditya Agrawal, CFA, Chief Investment Officer at Avisa Wealth Creators
Budget 2026–27 takes a fiscally disciplined, growth-oriented stance, emphasizing long-term stability over populist giveaways. The record ₹12.2 lakh crore capex (up 9% YoY) strengthens the medium-term outlook for infrastructure, defence and manufacturing, while commitment to the fiscal consolidation path (~4.3% for FY27) supports macro and market stability.
On the negative side, the STT hike on derivatives may weigh on trading volumes and near-term sentiment amid volatile markets. Offsetting this, the rationalisation of buyback taxation, with proceeds now taxed as capital gains in shareholders' hands, improves transparency and capital-allocation efficiency, making the budget incrementally positive for long-term equity investors despite limited short-term triggers.
Prof. M. A. Venkataramanan, Pro-Vice Chancellor, FLAME University:
"The Union Budget 2026 clearly signals a shift from education as a standalone sector to education as a national growth engine. By strengthening education-to-employment alignment through a high-powered standing committee, investing in university townships near industry corridors, and empowering City Economic Regions, the government is building ecosystems where learning, research, and enterprise reinforce each other. This creates an urgent demand for graduates who can think across disciplines, apply knowledge in real-world contexts, and work at the intersection of technology, policy, sustainability, and society.
At FLAME University, our interdisciplinary, experiential learning model is designed precisely for this moment—where capital expenditure, infrastructure expansion, and services-led growth require adaptable, globally-relevant talent. Continued investment in frontier research infrastructure, including four national astronomy and telescope facilities, strengthens India's global academic standing and opens new avenues for international research collaboration.
Equally transformative are structural enablers such as capital support for one girls' hostel in every district for STEM institutions, which addresses access, safety, and long-term retention of women in science and technology. Simplifying tax compliance for faculty and researchers further strengthens global academic mobility.
Together, these measures reposition our universities as engines of employability, innovation, and global engagement, preparing our multidisciplinary graduates and research leaders who can meaningfully contribute to India's economic and knowledge ambitions through 2047 and beyond."
Niyati Handa, Co-founder & Director of Eklavya School:
Talking about the Union Budget 2026, Niyati Handa, Co-founder & Director of Eklavya School, said, "The recent budgetary allocations proved significant for youth empowerment through a positive shift towards educational equity. The 5,000 crore capital investment for each City Economic Region (CER), along with university townships near industrial corridors, is an indication of providing quality education beyond metro cities. This infrastructural development will surely help in democratising the regional educational system."
Jeel Gandhi, CEO, Under25:
Talking about the Union Budget 2026, Jeel Gandhi, CEO of Under25, said, "One of the central themes of this year's budget was empowering the youth, tapping into the current need of the hour. Initiatives like the Khelo India Mission will create interlinking pathways for multiple means of employment and skill development opportunities. As the largest young population in the world embraces unconventional career paths, the Income Tax 2025's simplification of the compliance framework will reinvent the traditional work culture. One of the highlights is deduction from 5% to 2% on education and overseas packages, an acknowledgment of Gen Z's global aspirations."
