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New Delhi: Union Finance Minister Nirmala Sitharaman will present the Union Budget 202627 on 1 February. This time the budget is coming at a time when the impact of US tariffs and geopolitical tensions remain a matter of concern across the world. In such a situation, all eyes are on the upcoming budget.
The industry believes that this time Artificial Intelligence (AI) infrastructure should get priority in the budget. According to Happiest Minds CEO Shridhar Mantha, India should move towards becoming a global leader, not just a consumer of AI. For this, indigenous hardware, data centers, support to startups, tax incentives and skilling programs are necessary.
There are also high expectations from the insurance sector. Ashwini Dhanawat, CIO of Shriram General Insurance, says that insurance penetration in India is now very low compared to GDP. Steps like tax relief on health insurance, strengthening Ayushman Bharat and improving the claim settlement process should be taken in the budget.
In the manufacturing sector, especially the footwear and consumer goods industry, the need for long-term policy support is being told. According to Yashesh Mukhi, founder of Chupps, only short-term incentives will not work, but it is important to promote quality manufacturing and innovation.
Experts associated with logistics and trade believe that India's global competitiveness will depend on how fast and reliable the cargo movement is. According to FedEx representative Kami Viswanathan, the focus on air cargo infrastructure and digital custom clearance systems is the need of the hour.
Markets also have expectations from the budget. Investors are expected to get income tax relief, tax expenditure of around Rs 11.512 lakh crore and fiscal deficit to be kept around 4.4%. Overall, Budget 2026 is expected to give new impetus to growth, employment and innovation.
