On the eve of the Union Budget 2026 presentation, industry veterans and chamber heads have expressed high optimism, predicting a fiscal roadmap centered on technology, infrastructure and aggressive global trade expansion.

With India maintaining a steady 7% GDP growth and a managed fiscal deficit, leaders expect Finance Minister Nirmala Sitharaman to prioritize domestic interests through long-term investments while navigating global economic uncertainties.

Ajit Mangrulkar, Director General of the IMC Chamber of Commerce and Industry, characterized the upcoming budget as a "growth-oriented" blueprint.

He noted that while the economy is on a strong trajectory, increased funding for high-tech sectors is essential.

"We can expect increased investment in infrastructure, with significant emphasis on technology, AI and digital initiatives," Mangrulkar stated, adding that defense expenditure is likely to remain a top priority.

On the topic of personal finance, he predicted minimal changes to taxation, aside from potential slab revisions in the new regime and a streamlining of capital gains to simplify the investment landscape.

A key theme among industry experts is India's strategic shift toward developing alternate markets to counter global volatility.
Mangrulkar highlighted the government's rapid pursuit of Free Trade Agreements (FTAs) as a sign of strength, suggesting these pacts are crucial for creating alternatives to traditional markets like the US.

Saurabh Shah, Co-Chairman of the International Business Committee, echoed this sentiment, emphasizing that the budget should serve as a bridge to help startups and MSMEs leverage these FTAs at the ground level.

"Today's budget is not just about numbers; it will be a roadmap for India's economic growth," Shah remarked, hoping for reforms in currency stability and a synchronization of regulations between state and federal governments to improve the "ease of doing business" for foreign investors.

The formal proceedings began on Sunday with a traditional touch, as President Droupadi Murmu offered "dahi-cheeni" (curd and sugar) to Finance Minister Nirmala Sitharaman at Rashtrapati Bhavan.

This auspicious ritual preceded a final briefing where the Finance Minister discussed the contours of the budget proposals with the President.

With the stage set, the industry now awaits a budget that balances middle-class incentives—such as tax slab rationalization—with the high-tech demands of a modern economy.

Source: ANI