CAIT Praises Union Budget 2026-27 as Inclusive, Decisive Step to Viksit Bharat

Speaking to IANS, CAIT Secretary General and BJP MP Praveen Khandelwal said, "Under the leadership and guidance of Prime Minister Narendra Modi, the budget presented by Finance Minister Nirmala Sitharaman can be summarised in two words: inclusive and decisive. It aims to fulfil the vision of 'Viksit Bharat 2047', which is the Prime Minister's vision."

Khandelwal said the Budget includes significant measures for trade and industry, including the removal of customs duties on several items. "The pharma sector has received a new boost, and several initiatives have been introduced to improve ease of doing business and ease of living for the common citizen. Through the semiconductor mission, the electronics sector has been strengthened, and policies related to rare earth minerals have also been addressed," he said.

Khandelwal stated that the Budget is a reflection of the strong, decisive, and far-sighted leadership of PM Modi, under whose guidance India continues to progress steadily despite global economic challenges.

He added that the Budget places a major focus on reducing logistics costs. "There is attention on reducing logistic costs. How waterways can be better utilised and how railways can be augmented. These aspects have been given focused budgetary support," Khandelwal noted. He also pointed out that provisions such as the setting up of content creator labs for youth would help create new employment opportunities in emerging sectors.

According to him, "All sectors that collectively shape the economy have been equally focused on. Through these budgetary provisions, Prime Minister Modi's 'Swadeshi Abhiyan' will be strengthened, ensuring that Indian production and exports receive a strong push. This is truly a 'samaveshi' (inclusive) budget."

He said, "The Budget sends a strong and positive message of confidence to traders, entrepreneurs, investors, and especially to micro, small, and medium enterprises. Its focus on empowering every section of society, along with economic growth, makes this Budget truly distinctive."

Khandelwal further mentioned, "What the Prime Minister said -- 'Sabka Saath, Sabka Vikas, Sabka Prayas' -- applies to everyone. In this budget, a special focus has been given to the pharma sector, which has significant export potential. Additionally, the Finance Minister has included provisions for rare diseases in her budget speech. Overall, the budget aims to ensure that healthcare reaches every individual's home."

Highlighting the special emphasis on the MSME sector, Khandelwal said that provisions such as easy access to credit, simplification of compliance procedures, digital empowerment, technological upgradation and encouragement to formalisation will take small industries and traders to new heights.

He further stated, "MSMEs are the backbone of the Indian economy. The measures announced for the MSME sector in this Budget will play a vital role in employment generation, promoting entrepreneurship and making Indian products globally competitive."

- IANS