FICCI Hails Union Budget 2026-27 as Inclusive, Forward-Looking Growth Roadmap

Reacting to the Budget, Ranjit Barthakur, Chairman, FICCI Northeast Advisory Council, said it reflects confidence in India's economic fundamentals and addresses emerging global and geopolitical challenges through a balanced policy approach.

He said the continued thrust on public capital expenditure, manufacturing, MSMEs, and infrastructure provides a solid base for sustained long-term growth and job creation.

Barthakur highlighted the importance of investments in human capital, noting that the focus on education, healthcare and skill development is critical to ensuring inclusive growth, particularly for regions like the Northeast.

He also welcomed the emphasis on inland waterways and multimodal logistics, saying improved riverine connectivity -- especially in Assam -- would reduce logistics costs, improve market access and unlock regional economic potential.

Welcoming the Budget's sustainability initiatives, Barthakur said proposals such as large-scale deployment of Carbon Capture, Utilisation and Storage (CCUS) signal a strong commitment to environmentally responsible growth as India expands its industrial capacity.

Ghanshyam Dhanuka, Chairman, FICCI Assam state council, said the Budget includes several initiatives of direct relevance to Assam while addressing key national priorities.

He particularly welcomed the proposed development of Buddhist circuits across Arunachal Pradesh, Assam, Manipur, Mizoram, Sikkim and Tripura, stating that the initiative will strengthen tourism infrastructure, preserve cultural heritage and generate local employment.

Dhanuka also lauded reforms aimed at improving ease of doing business, including tax rationalisation, reduction in litigation and greater policy certainty, which he said would enhance investor confidence and support enterprise-led growth in Assam.

Joydeep Gupta, Co-Chairman, FICCI Assam state council, welcomed the Budget's emphasis on digital and technology-led growth with a regional focus.

He said measures such as tax holidays for cloud services, enhanced safe harbour thresholds, and automated approvals would position India as a global data and cloud hub, creating new opportunities for Assam and the Northeast beyond metro cities.

Gupta also highlighted region-specific initiatives such as the promotion of agarwood (oudh) as a high-value forest and aromatic product, which he said would boost rural livelihoods, exports and agro-forestry enterprises.

He further welcomed steps to strengthen mental healthcare infrastructure, including integration of institutions such as the Tezpur Mental Hospital with national systems, positioning Assam as a regional hub for specialised mental health services.

Larsing Sawyan, Co-Chairman, FICCI Northeast state council, said the Budget's focus on tourism, sports, skilling and agriculture would have a tangible impact at the grassroots level.

He added that initiatives such as tourism infrastructure development, the Khelo India Mission, support for high-value agriculture, MSME-focused measures and sustainable infrastructure development would collectively contribute to long-term growth and employment generation across the Northeast.

Overall, FICCI said the Union Budget 2026-27 effectively combines technology, sustainability, regional strengths and structural reforms to promote inclusive and resilient economic growth, helping the Northeast integrate more closely with India's growth trajectory.

- IANS