Budget 2026: Industry Eyes Growth Push in Infrastructure, Tech & FTAs

While speaking to ANI, Mangrulkar said, "The expectations from the budget are very positive. It is likely to be a growth-oriented budget. We are on track for 7% GDP growth, and the fiscal deficit is under control. However, I believe the government could allocate more funding. Overall, the budget will focus on what is best for India."

He also emphasised the importance of prioritising India's interests despite global uncertainties, citing the government's efforts to develop alternate markets and pursue Free Trade Agreements (FTAs).

"Despite global uncertainties, we should prioritise India's interests. We are actively developing alternate markets, and the pace at which the government is pursuing Free Trade Agreements (FTAs), along with growing international interest in signing FTAs with India, is a very encouraging sign. This helps us create an alternative market to the US. We should not be worried, even with global uncertainties, as our government is strong enough to sustain the growth trajectory," he said.

Mangrulkar expects increased investment in infrastructure, technology, AI, and digital initiatives, as well as higher defence expenditure. However, he does not anticipate major changes to personal taxation, except for possible slab revisions under the new regime and the streamlining of capital gains.

"We can expect increased investment in infrastructure, with significant emphasis on technology, AI, and digital initiatives. I also anticipate increased defence expenditure, as it remains a top priority. Overall, it will be a growth-oriented budget. Regarding personal taxation, I do not expect major changes, as much was already done last year. We may see a few slab revisions in the new regime and possibly some streamlining of capital gains. Beyond that, not much is expected in personal taxation," he added.

Saurabh Shah, Co-Chairman of the International Business Committee, reiterated similar sentiments, noting that the budget will serve as a roadmap for India's economic growth. Shah also emphasised the importance of leveraging FTAs to benefit enterprises at the ground level and anticipated reforms related to currency stability and interest rates.

"Today's budget is not just about numbers; it will be a roadmap for India's economic growth. I believe this budget will include the rationalisation of personal income tax slabs for the middle class, along with incentives for startups, MSMEs, and technology enterprises. The government has signed several FTAs, and we are building a strong ecosystem for ease of doing business at the micro level. We should be able to leverage these FTAs to benefit enterprises at the ground level. The government may also introduce reforms related to currency stability and interest rates. I hope that there is a synchronisation on compliances and regulations between state and federal governments, so we get an ease of doing business at the ground level, for foreign businesses to come to India, and Indian businesses to expand...," Shah said.

Ahead of the Union Budget 2026 presentation in the Parliament, President Droupadi Murmu on Sunday offered 'dahi-cheeni' (curd and sugar) to Union Finance Minister Nirmala Sitharaman when she arrived at the Rashtrapati Bhavan.

The 'dahi-cheeni' ritual is performed by the President, as it is considered an auspicious start to the day. This customary good-luck gesture was made during the Finance Minister's meeting with President Murmu at Rashtrapti Bhavan.

Minister of State for Finance Pankaj Chaudhary was also present on the occasion. The Finance Minister was seen discussing the contours of the Budget proposals with the President.

- ANI