Parliament Budget Session Highlights: As the Union Budget approaches, industry leaders across sectors are looking for clarity on taxation, reforms and priorities that could drive the next phase of economic growth.
Budget 2026 Parliament Highlights: What to expect from Union Budget on February 1. As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2026 on Sunday, February 1, expectations are rising across industry and the workforce for a reform roadmap that can cushion the economy against global volatility while pushing India’s domestic growth agenda.
Key focus areas are likely to include AI-led innovation, manufacturing expansion, job creation, and the energy transition, as the government looks to balance stability with long-term ambition.
Seen as a critical milestone in advancing the Viksit Bharat 2047 vision, the Budget is expected to set the tone for India’s medium-term growth strategy.
India’s 2030 clean energy targets stand in front of its data centres push, will the upcoming Union Budget recognise the need for both and introduce reforms for both to coexist?
As the world stands in the crossroads of geopolitical tensions, the matter of rare earth supply shortage is likely to stagnate India’s semiconductor, electronics manufacturing and auto industry growth. Hence, a push for self-reliance on the production of rare earth matters becomes imperative for India’s growth engine boost.
An ET survey revealed that India’s consumption growth story business leaders are confident in domestic consumption and political stability. However, job creation, inequality and global risks are major concerns. The survey indicates a preference for fiscal flexibility to navigate these challenges. Policymakers are urged to balance growth with employment and social welfare.
From Skill India, Textile parks, loan schemes to innovative financing mechanisms, the Ministry of Finance reveals a report card of developments from past Budgets.
‘Budget should simplify and speed up dematerialisation of physical securities and IEPF-related claims’
“With retail participation in capital markets steadily increasing, we hope this year’s Union Budget clearly acknowledges the large amount of investor wealth still locked in physical shares, unclaimed dividends, and legacy investments. From the investor services side, there is a strong need to simplify and speed up dematerialisation of physical securities and IEPF-related claims. Greater standardisation across registrars, clearer timelines, and wider use of digital processes can significantly reduce friction for genuine investors. Equally important is making compliance simpler without compromising on safeguards, so investors are not discouraged at the first step itself,”Shrikant Pandore, Co-Founder & CEO, Clearclaim said.
“At a time when global economic conditions remain uncertain, strengthening domestic investor confidence becomes critical. Stable tax policies, consistent regulations, and stronger financial literacy efforts can encourage long-term participation in capital markets. Supporting technology-led platforms that work within the regulatory framework can also help bridge the gap between investors and the system. A Budget that focuses on practicality, transparency, and ease of access will help bring dormant financial assets back into circulation and strengthen trust in India’s capital market ecosystem,” Shrikant Pandore said.
“In this year’s Union Budget, we hope the government reviews customs duties on coffee machinery. With most high-end machines imported, the sharp rise in the Euro and other foreign currencies has significantly increased landed costs, impacting pricing and adoption in India. Rationalising these duties would ease cost pressures and support industry growth. At the same time, fostering a strong R&D ecosystem can position India as a global manufacturing and export hub for coffee machines. With the right incentives and innovation-led policies, Indian manufacturers can build world-class products that meet European standards.
Additionally, there is a strong opportunity to introduce structured initiatives for barista training, certification, and employment. As one of the fastest-growing roles in the coffee ecosystem, targeted skilling programs can enhance service quality while creating sustainable career pathways for the youth,” Vikram Khurana, CEO, Kaapi Solutions said.
Budget is a good opportunity to address the challenges faced by the restaurant sector: Amit Bagga, Co-Founder and CEO of Daryaganj Hospitality
Here is what he said about budget expectations for the restaurant sector.
- – The industry is keenly looking at the restoration of GST input tax credit, which will directly improve unit economics and encourage reinvestment, eventually leading to more job creation and more tax revenue for the govt
- – Simplification of licensing, labour compliance, and faster approvals can significantly ease the cost and complexity of operations.
- – As one of India’s largest employers in the services economy, targeted support for skilling and MSME credit access will help restaurants scale responsibly.
- – Additionally, measures that boost disposable incomes will have a direct and positive impact on dining-out demand.
A growth-oriented, pragmatic budget can enable the restaurant sector to expand sustainably while strengthening employment and entrepreneurship.
‘To sustain momentum in premium F&B sector, Budget must bridge gap between Make in India and Luxury from India’
“As we approach the Union Budget 2026, the premium F&B sector remains cautiously optimistic. India is entering a true consumption decade, with consumers increasingly valuing quality, heritage, and authenticity. To sustain this momentum, policy must bridge the gap between Make in India and Luxury from India.
A key expectation is the rationalization of the GST Input Tax Credit structure. For premium homegrown brands investing in high-quality ingredients and sustainable packaging, the current inverted duty structure inflates costs and limits reinvestment. Correcting this would directly support expansion and job creation.
Equally important is focused investment in perishable infrastructure. High cold-chain and logistics costs continue to challenge brands dependent on fresh, preservative-free products. Incentives for cold-chain warehousing and faster logistics would reduce wastage and enable national scale. Finally, simplified export compliances for short-shelf-life foods would help position Indian luxury food as a global soft-power export,” Sid Mathur, Co-Founder; KHOYA Mithai, BOMBA Pizzeria and Taqueria, Secret Ingredient said.
“As India approaches Budget 2026, the opportunity lies in aligning our fintech and digital asset policy framework with global best practices while leveraging India’s scale advantage. India today has over 300 million digital payments users and processes more than ₹18 trillion in monthly UPI volumes, demonstrating how policy clarity can unlock mass adoption. Globally, markets such as the US, UK, and Singapore, where crypto taxation is aligned with capital gains frameworks and transaction-level friction is minimal, have retained over 70–80% of trading volumes onshore, enabling stronger regulatory oversight and tax transparency. In contrast, despite India having an estimated 15–20 million crypto users, a significant share of activity has moved offshore since the introduction of the current tax regime, reducing domestic visibility rather than systemic risk. Rationalising the 1% TDS to a monitoring-level rate, aligning the 30% capital gains tax with income slabs, and allowing loss set-offs would bring India closer to global standards. A balanced, data-driven approach can help India reclaim onshore volumes, strengthen compliance, and position itself alongside leading global fintech and Web3 hubs”, By Pranav Pagaria, Head Finance and strategy – CoinDCX
“As India readies for Budget 2026-27, it has become paramount that fiscal reforms are introduced proactively for the benefit of not only achieving macroeconomic stability but also for making the Indian workforce empowered as well. Open fiscal policies that outline pragmatic fiscal programming for managing deficits, combined with strategic public spending will allow for greater confidence among investors. Giving importance to governance that focuses on technology, green economic systems, and equal fiscal models will allow us to fortify the foundation of our economy. At SalarySe, it has become our primary concern that fiscal reforms that spread focus on spreading transparency, skill-building values, and equal opportunities, combined with greater use of credit on UPI, will help initiate earning for India’s workforce.” By Piyush Bagaria, Co Founder at SalarySe
Parag Satpute, MD & Group CEO, Greaves Cotton Limited: “Through the ambitious Viksit Bharat mission, the government’s vision to transform India into a developed nation by 2047 is no longer a distant aspiration but a strategic roadmap being executed today.
As we look toward the Union Budget, continued and targeted policy support will be the essential driver to accelerate technology-led manufacturing and deepen India’s advanced engineering capabilities. By evolving frameworks like the Production Linked Incentive (PLI) schemes and introducing dedicated Engineering R&D tax offsets, the government can effectively de-risk the industry’s transition to high-tech, precision production.
Strategic, long-term policy consistency is vital to attract the capital required for Industry 4.0 integration, robotics, and AI-driven automation. By strengthening infrastructure and export competitiveness through these focused measures, companies can scale innovation rapidly, building the globally competitive edge necessary to lead the next era of high-quality, future-ready industrial growth.”
Mr. Darshan Shah Managing Director, Harkesh Rubber LLP: “In manufacturing sector, where continuous machinery upgrades and technology adoption are essential, higher depreciation allowances can accelerate modernization, improve productivity, and strengthen quality standards, helping Indian manufacturers compete globally. Additionally, consistent policy support for MSMEs, easier access to finance, and incentives linked to manufacturing efficiency will be crucial in strengthening India’s industrial base and enabling sustainable long-term growth.”
Munindra Verma CEO of M1 NXT: “Budget 2026 comes at a critical moment for strengthening India’s export and import ecosystem. While Indian exporters have shown resilience amid geopolitical disruptions and rising protectionism, sustaining this momentum will require a stable policy framework and predictable trade and foreign exchange regulations. Access to timely and affordable trade finance remains a key constraint, particularly for MSME exporters. Budget 2026 should therefore prioritise low-cost working capital with effective risk management Accordingly, Budget should strengthen interest equalisation schemes significantly, widen the adoption of trade credit insurance in a targeted manner, and simplify access to digital trade-finance through All Win Digital Public Infrastructure like ITFS platforms. Predictable access to low-cost credit, coupled with smoother global payment mechanisms, will directly enhance exporter competitiveness in an increasingly uncertain global environment. At the same time, enabling digitalisation, AI-led processes and data-driven financing can help exporters diversify markets and overcome non-tariff barriers more effectively.”
Sundeep Mohindru, Founder & Promoter, M1xchange: “As we approach Union Budget 2026, the government’s sustained focus on the MSME sector is encouraging. To achieve India’s $10 trillion economic ambition by 2030, the emphasis must now move from intent to impact, particularly in strengthening the cash flows of micro and small enterprises that form over 90% of India’s MSME base.
For MSMEs today, the core challenge is not access to credit alone, but timely receipt of payments. While the previous Budget rightly focused on mandatory registration of large buyers on TReDS, the next phase must prioritise active transacting and measurable increases in invoice volumes rather than registrations alone. Greater and more consistent participation from PSUs is especially critical to improving payment discipline across supply chains.
Budget 2026 should encourage phased or targeted mandates for PSU transacting on TReDS platforms, giving lenders higher confidence and enabling MSMEs to unlock working capital against confirmed receivables at lower cost. Expanding credit-guarantee support for invoice-based financing will further reduce borrowing costs for small businesses.
A parallel shift towards cash-flow-based lending by leveraging data from GST filings, e-invoices and utility payments, can significantly widen formal credit access for MSMEs that remain constrained by balance-sheet limitations. Additionally, increased adoption of deep-tier financing platforms will help extend liquidity beyond first-level suppliers, allowing smaller MSMEs to integrate more effectively into value chains and unlock productivity, scale and sustainable growth across the sector.”
Sudhin Mathur, COO, Xiaomi India: “India’s electronics industry is at a pivotal stage of evolution, shaped by rapid technological advancement, growing domestic demand, and steady progress in ease of doing business. Against this backdrop, the sector is navigating sustained input cost pressures driven by rising component prices and evolving global supply-chain dynamics. As India looks ahead to the Union Budget 2026–27, targeted sector-specific FDI relaxations present an opportunity to strengthen the electronics manufacturing ecosystem. Such measures can help ease cost pressures across the value chain, encourage long-term investment, build domestic capacity, and support job creation. This becomes increasingly relevant as the industry enters a new phase of technology advancement, with higher adoption of AI-driven features increasing the use of advanced memory and processing components. While companies continue to optimise costs and absorb part of these pressures, input costs remain an important factor in overall device economics. Building on India’s steady progress in ease of doing business, greater policy clarity and targeted expansion of the PLI framework can accelerate localisation, strengthen the domestic component ecosystem, and help position India as a globally competitive hub for advanced electronics manufacturing. Well-calibrated policy measures in this environment can play a meaningful role in sustaining innovation while keeping devices accessible for consumers.”
Budget Expectations Live Updates: Sanjiv Bajaj, Joint Chairman & Managing Director at Bajaj Capital expects that Budget 2026 should focus on strengthening household confidence by increasing disposable incomes and stimulating demand.
“Thoughtful tax relief, simplification, and policy predictability can support consumption while encouraging greater participation in long-term savings, investments, and protection,” he said.
“At the household level, deeper retirement preparedness must remain a priority. Greater flexibility, awareness, and incentives for long-term instruments such as the NPS, along with improved insurance penetration, are essential to building financial resilience over time. Sustained and timely credit support for MSMEs continues to be critical for job creation and economic stability. In parallel, continued government capex in infrastructure will help maintain investment momentum and strengthen credit demand across the economy,” he added.
“Buyer expectations in the premium segment have become far more nuanced and purpose driven. Luxury today is less about excess and more about well being, privacy, and long term value. Wellness has moved from being a marketing feature to a core requirement, with buyers prioritizing natural light, ventilation, indoor air quality, acoustic comfort, and access to green, low density environments. Amenities such as yoga decks, meditation spaces, and quiet zones are increasingly valued over purely ornamental facilities. Living spaces synergizing with nature and greenery are sought after by the discerning buyers today. Technology is another key shift. Premium buyers now expect seamless, invisible automation through smart home systems, advanced security, EV ready infrastructure, and reliable digital connectivity that supports hybrid work. These features are no longer seen as add-ons but as essentials of future ready living. Sustainability has also become central to buying decisions. Energy efficient design, water management systems, and green certifications are viewed as indicators of an intelligent asset that will hold value over time. Alongside this, there is a growing preference for curated, low density communities that offer privacy, exclusivity, and a refined living experience rather than just larger apartments. Overall, the emphasis has clearly shifted toward design integrity, execution quality, transparency, and timely delivery, pushing developers to focus on meaningful fundamentals rather than superficial differentiation,” N Nagabushana Reddy, CEO, Founder & Managing Director, NBR Group said.
While addressing the joint sitting of Parliament, President Droupadi Murmu said, “The government is succeeding in building a system free from corruption and scams. As a result, every single rupee of taxpayers’ money is being spent on the nation’s development and public welfare. Today, India is making unprecedented investments in modern infrastructure.”
At the 2026 Budget Session of Parliament, President Droupadi Murmu said astronaut Shubhanshu Shukla’s visit to the International Space Station was the beginning of a historic journey.
In her address to joint sitting of both houses of Parliament, Murmu said space tourism was now within reach of Indians.
“Subhanshu Shukla reaching the International Space Stationn (ISS) is the beginning of a historic journey. In the coming years, India is moving towards building its own space station,” Murmu said.
“The nation is working enthusiastically on the Gaganyaan mission,” the president said, amid thumping of desks by Prime Minister Narendra Modi and other leaders present in the Lok Sabha chamber.
As a result of the progressive mindset and policies of my Government, women have gone ahead rapidly in every ambitious area of the country. In this direction, a few months back, the country achieved another major milestone when the first batch of women cadets passed out from the National Defence Academy (NDA). This has further strengthened the belief that in the development and empowerment of the country, ‘naari shakti’ stands first
– President Droupadi Murmu during Budget Session of Parliament
Parliament Budget Session: Operation Sindoor showed India’s valour; govt gave message that any terror attack will invite resolute, decisive action, says President Murmu
Ahead of Budget session, a meeting of the INDIA bloc floor leaders was held at the Parliament House Complex
Budget Session Live News: Opposition MPs stand and register their protest, demanding withdrawal of Viksit Bharat-G RAM G law
President Droupadi Murmu said, “For employment and development in rural areas, Viksit Bharat-G RAM G law has been formed. With this new reform, there will be 125 days of employment guarantees in villages…” As the NDA-BJP MPs thump their tables in appreciation, Opposition MPs stand and register their protest, demanding that the law be withdrawn.
As the NDA-BJP MPs thump their tables in appreciation, Opposition MPs stand and register their protest, demanding that the law be withdrawn.
Budget Session 2026: India’s defence export has crossed Rs 23,000 crore, says Murmu
My Government is committed to true social justice. As a result, in last one decade, 25 crore citizens have come out of poverty. In the third tenure of the Govt, drive to further empower the poor has been taken forward with a greater speed.
– President Droupadi Murmu says during the Budget Session of Parliament
2026 Budget Session Live Updates: India -EU FTA will fuel service and manufacturing sectors; will provide employment opportunities to youth, says President Murmu
Budget Session 2026: The government is giving special emphasis to development of eastern India, says President Droupadi Murmu in her address to joint sitting of both houses
With the year 2026, our nation has entered the second stage of this century. For India, the end of the first 25 years of this century has been filled with several successes, proud achievements and extraordinary experiences. In the last 10-11 years, India has strengthened its foundation in every sector. This year is a major base for our journey towards Viksit Bharat.
– President Droupadi Murmu says during the Budget Session of Parliament 2026
Budget Session News Live: Old rules are being changed keeping in mind future needs, the government is moving on path of ‘Reform Express’, says President Murmu
Budget Session Live News: FTA with EU will fuel service and manufacturing sectors; will provide employment opportunities to youth, says President Murmu
Budget Session Live Updates: India surging ahead to set up its own space station, says President Murmu in address to joint sitting of both houses
Budget Session of Parliament: 150 Vande Bharat trains are currently running in country, says President Murmu
Budget Session Live Updates: Social security benefits are now available to nearly 95 crore citizens of the country, says President Murmu during joint seating
I am delighted to be addressing this session of the Parliament. Last year was memorable as the festival of India’s rapid progress and heritage…150 years of Vande Mataram is being celebrated across the country. The citizens are bowing before Bankim Chandra Chatterjee for this great inspiration. I congratulate all Parliamentarians that a special discussion was taken up in the Parliament for this.
– President Murmu during the Budget Session of Parliament
2026 Budget Session: Govt committed to social justice in the country, says President Droupadi Murmu in address to joint sitting of Parliament
President Droupadi Murmu said, “My Government is working for Dalits, the backwards, tribal community and everyone with complete sensitivenss. The vision of Sabka Saath Sabka Vikas is becoming a positive impact on the lives of every citizen. At the beginning of 2014, social security schemes reached just 25 crore citizens. With the efforts of the Govt about 95 crore Indians have access to social security schemes now.”