Post-Budget (2026) Reaction Quotes

"The Union Budget 2026–27 sends a reassuring message that India’s growth will be anchored in healthier citizens and stronger health systems. The continued focus on expanding public health capacity, strengthening prevention, and improving access across tier-2 and tier-3 India is consistent with the vision of Viksit Bharat.
We welcome the emphasis to deepen India’s life sciences and innovation ecosystem through Biopharma SHAKTI, including new and upgraded education and research institutions and a nationwide network of 1000 accredited clinical trial sites. These steps will accelerate the development of advanced therapies and reinforce India’s position as a trusted global destination for healthcare and life sciences.
The focus on people is especially heartening. Adding 10,000 medical seats in the coming year, alongside training 1.5 lakh caregivers and scaling allied health disciplines, can strengthen the Prime Minister's vision of Heal in India, Heal by India. Supporting states to create five hubs for medical tourism will elevate quality standards across regions. We appreciate the reaffirmed commitment to mental health and trauma care through the proposal to establish NIMHANS-2, upgrade apex mental health institutions in Ranchi and Tezpur, and expand emergency and trauma care capacity by 50% in district hospitals through dedicated centres.
Measures to improve affordability, including duty-free access to 36 life-saving drugs, can ease the financial burden for patients.
At Apollo Hospitals, we remain committed to working closely with the government and all stakeholders to translate these priorities into measurable health outcomes for every Indian."
 Dr. Prathap C Reddy, Founder and Chairman, Apollo Hospitals

“The Union Budget has expectedly continued with its policy thrust on deepening the manufacturing and the construction eco system in the country. Given the still sluggish pick up in corporate investment activity, the Government has used its fiscal headroom to augment and deepen the manufacturing eco system in the country through increase in capital spends. The emphasis on new freight and highspeed rail corridors, 10 inland waterways to push up the share of coastal cargo by 12 pct by 2047 as also the support to states under SASCI are all welcome steps in the right direction. Overall, the trajectory of continued policy emphasis on infrastructure creation continues with an almost 20 pct increase in capital expenditure, a strategic choice that will contribute to enhancing the productive sectors of the economy.”
 Dr Tapash Kumar Ganguli, Director-General, NICMAR

“The Union Budget’s strong focus on infrastructure and balanced regional growth is encouraging. The proposed Infrastructure Risk Guarantee Fund will boost lender confidence and help attract private investment. Increased allocations for high speed rail, Tier II and Tier III cities, and temple towns will drive sustained demand across the construction sector. The support for CCUS is timely and reinforces the importance of clean technologies in decarbonising hard to abate industries.”
Neeraj Akhoury Managing Director, Shree Cement Limited 

“The Union Budget 2026-27 maintains policy continuity, tax predictability while attempting a fine balancing act between rural and urban, legacy and sunrise sectors. Structurally the budget has continued its focus on emerging sectors with notable scaling up in manufacturing, coupled with focus on semiconductors, data centre, AI and infrastructure 
The announcement on setting up a dedicated SME Growth fund and mandate on TREDS backed by Credit Guarantee Support, will definitely act as a key driver for the MSME sector. Major initiatives in Pharma, tourism, skilling and sports will further facilitate development and employment generation.
Financing aspect of Viksit Bharat has been elaborately addressed with measures such as Committee on Banking, Infrastructure Risk Guarantee Fund, recycling of CPSE real estate assets and extension of tax holiday for GIFT City. On the fiscal front effective capex has been targeted at Rs12.2 lakh crore and fiscal deficit consolidation will continue, expecting to reach around 4.3% of GDP and debt-to-GDP ratio at 55.6% of GDP, which augurs well, given the current volatile geoeconomic environment.”
Challa Sreenivasulu Setty, Chairman, SBI & Chairman, IBA
 
 
“The Union Budget 2026–27 sends a strong and reassuring signal for India’s long-term growth, anchored in fiscal discipline and a sustained push on infrastructure-led development. The continued emphasis on capital expenditure and destination-focused investment provides a solid structural framework for the expansion of tourism and, by extension, the civil aviation sector.
The Budget’s focus on strengthening medical value tourism and destination development is particularly relevant for aviation, as it creates high-frequency, purpose-driven inbound travel, especially from regions such as the Middle East and Southeast Asia. At the same time, the emphasis on developing heritage, archaeological, and eco-tourism destinations across multiple states will stimulate demand for air connectivity to Tier-2 and Tier-3 cities, supporting the next phase of domestic aviation growth.
Importantly, the parallel focus on skilling and professionalising the hospitality and tourism workforce addresses the capacity and service-quality requirements needed to sustain this growth. Taken together, these measures create an ecosystem in which airlines like Air India Express are well positioned to play a meaningful role.”
Aloke Singh, Managing Director, Air India Express

 
 
“We welcome the Union Budget 2026–27, which reinforces infrastructure as a key pillar of India’s growth journey. The enhanced capital expenditure allocation of ₹12.2 lakh crore signals continued support for large-scale construction and connectivity projects, helping sustain momentum across the infrastructure ecosystem. The proposed Infrastructure Risk Guarantee Fund addresses an important challenge in project execution by helping mitigate risks during the construction and early development phases. By improving financing confidence for developers and lenders, this measure can contribute to stronger project viability and more predictable execution timelines.
The Budget’s emphasis on planned urban development through City Economic Regions, along with continued infrastructure expansion in Tier II and Tier III cities, reflects an approach that supports more balanced urban growth beyond traditional metropolitan centres. As these emerging cities continue to grow, improved connectivity and infrastructure are expected to drive demand for housing, commercial real estate, and supporting urban amenities. This expansion will translate into sustained construction activity and steady demand for high-quality building materials such as cement and concrete. The scale and spread of infrastructure initiatives outlined in the Budget create a conducive environment for long-term capacity building in the construction sector, supporting the development of resilient cities and addressing the evolving needs of a rapidly urbanising population.”
Aparna Reddy, Executive Director, Aparna Enterprises Ltd.

“The Union Budget reflects the government’s clear and positive intent to strengthen India’s economic fundamentals. The emphasis on scaling manufacturing across seven strategic sectors — including biopharma, electronics manufacturing services, semiconductors, rare earths, chemicals, capital goods and textiles — is expected to support domestic growth, improve export competitiveness and create employment.
The decision to allow Individual Persons Resident Outside India (PROIs) to invest in listed Indian equities, along with higher individual and aggregate investment limits, is a welcome step that should help expand the investor base, deepen market participation and support the continued development of India’s equity markets.”
Dale Vaz, Co-founder & CEO, Sahi

“The Union Budget 2026–27 has reinforced support for the housing sector with the announcement of a ₹15,000-crore SWAMIH Fund to expedite the completion of nearly one lakh stalled housing units, a move expected to ease liquidity stress among developers and boost homebuyer confidence. Measures to raise disposable incomes and the continued thrust on urban development are also likely to support housing demand, particularly in the affordable and mid-income segments. In addition, the simplification of taxation and compliance processes for NRI property transactions is a welcome step that will improve ease of investment, enhance transparency, and encourage stronger participation from NRIs in India’s residential real estate market.”
Navin Kumar, Managing Director, Navin’s

"The Union Budget 2026–27 sends a clear signal that India’s next phase of infrastructure growth will be driven as much by data and precision as by physical assets. With record capital expenditure of ₹12.2 lakh crore and a strong focus on transport, urban development, water systems, and digital ecosystems, infrastructure planning and execution are set to become more technology-led and outcome-focused. Large corridor projects, smart cities, flood mitigation, and logistics networks increasingly depend on accurate terrain models, authoritative base maps, and real-time geospatial intelligence to reduce risk and accelerate delivery. Continued policy support for drones, space technologies, and artificial intelligence reinforces the shift from static 2D drawings to integrated 3D and 4D planning environments. For project owners, PSUs, and EPC players, survey-grade, decision-ready geospatial data will now be as critical as construction itself. At Matrix Geo Solutions, we see this Budget as an execution accelerator, where precision, integration of engineering with GIS, and digital continuity from planning to operations will define timely, resilient, and cost-effective infrastructure delivery." 
Amit Sharma - Founder & Whole Time Director.

“The Union Budget 2026 positions real estate as a key growth engine by building a more stable, capital-efficient ecosystem that reduces project risk and attracts institutional investment - a critical need for premium, sustainable housing in fast-growing markets like Hyderabad.
The push for Green Credits and incentives for sustainable construction technologies - such as dry construction methods and recyclable materials - signals a clear policy shift toward environmentally responsible development. The Construction and Infrastructure Equipment (CIE) scheme, with its focus on advanced and energy-efficient equipment including modern lift systems for high-rises, further supports this transition toward smarter, greener buildings.
On the demand side, simplified NRI transactions - especially PAN-based TDS compliance without the need for a TAN - can significantly reduce friction for overseas buyers, making Indian real estate more accessible and investment-friendly.
Importantly, the Budget’s emphasis on sustainable urban renewal across housing segments — from mid-income to premium - along with credit guarantees and process simplification, empowers developers to create more inclusive, well-planned communities. Growth corridors such as Kokapet and Neopolis in Hyderabad are well-placed to benefit from improved financing access and green incentives, enabling projects with smart technologies, global certifications, and future-ready amenities.
From a premium developer’s perspective, the real opportunity lies in building integrated townships that balance density, sustainability, lifestyle, and livability — ensuring that growth remains equitable for both developers and homebuyers, while meeting the rising aspiration for high-quality urban living.”
Lakshmi Narayana G, Designated Partner (Laxmi Infra), GHR Lakshmi Urbanblocks Infra LLP.

“The Union Budget 2026, presented by Hon’ble Finance Minister, is aimed at further accelerating the momentum of the construction and building materials sector in India. The sustained growth in public capital expenditure to ₹11.2 lakh crore, and the development of Tier II and Tier III cities with a population of over 5 lakhs as growth centers and City Economic Regions, will help sustain demand for quality construction materials, where quality and compliant façade solutions are becoming increasingly important.
The Scheme for Enhancement of Construction and Infrastructure Equipment is especially important, as it promotes the use of modern and safety-driven construction practices. This will lead to a natural increase in the demand for engineered, fire-rated, and performance-oriented façade materials, which will provide greater opportunities for organized manufacturers.
While the direction outlined in the Budget is encouraging, the pace of on-ground implementation will be key in determining its real impact on the sector. We remain optimistic and look forward to these measures translating into consistent project execution and sustained industry growth.”
Ashok Kumar Bhaiya, Chairman & Managing Director at Aludecor Lamination Pvt. Ltd.

“The Union Budget 2026–27 marks a decisive shift in how India approaches resource security and decarbonisation—treating them as strategic economic priorities rather than regulatory afterthoughts.
 The INR 20,000 crore commitment to Carbon Capture, Utilisation and Storage (CCUS) over five years is a particularly important signal. It directly addresses the competitiveness challenge Indian industry faces under mechanisms such as the EU’s Carbon Border Adjustment Mechanism and provides a credible pathway for hard-to-abate sectors like steel and cement to remain globally competitive while decarbonising.
 Equally significant is the focus on building domestic capability across the critical minerals value chain—from exploration to processing. Duty exemptions on capital goods for critical mineral processing, along with support for rare-earth corridors in mineral-rich states, will strengthen urban mining and large-scale resource recovery.
For industries engaged in recovering value from end-of-life materials, this recognition of secondary resources as strategic assets is both timely and overdue.
The extension of duty exemptions for lithium-ion cell manufacturing in battery energy storage systems, and the rationalisation of excise duty on biogas-blended CNG, reflect a sophisticated understanding of how clean energy transition and circularity reinforce each other. These measures will unlock investment in recovery infrastructure and accelerate the shift from linear to circular industrial models.
By placing execution, scale, and infrastructure at the centre of its approach, this Budget positions circularity as foundational to India’s manufacturing resilience and its Viksit Bharat ambitions—giving industry the confidence to invest boldly in sustainable technologies.”
Masood Mallick, Chairman, CII National Committee on Waste to Worth Technologies and Managing Director & Group CEO, Re Sustainability Limited

“The Union Budget’s emphasis on productivity-led growth across agriculture and allied sectors, especially fisheries and animal husbandry, is a constructive step towards strengthening India’s domestic food and protein ecosystem.
Initiatives around better utilisation of inland reservoirs, support for Fish FPOs and women-led groups, loan-linked capital subsidy for veterinary and para-veterinary infrastructure can improve supply consistency, traceability, and income stability at the source. The integration of AgriStack with AI-led dissemination of agricultural practices and stronger market linkages further strengthens this ecosystem.
For TenderCuts, these measures are aligned with the need to build a modern, sustainable, and inclusive meat and seafood supply chain that delivers quality to customers consistently.”
Sasikumar Kallanai, Co-founder & CEO, TenderCuts

“The Union Budget’s ₹12.2 lakh crore public capex push, alongside sustained support for REITs, InvITs, and long-term infrastructure financing, sends a strong signal of continuity and confidence in India’s growth trajectory. The emphasis on high-speed rail corridors, rejuvenation of industrial clusters, and the development of Tier-2 and Tier-3 cities will be catalytic for commercial real estate and urban infrastructure, enabling more balanced, future-ready business districts and manufacturing ecosystems. The focus on sustainable infrastructure - from carbon capture to disciplined capital deployment - reflects a maturing, governance-led approach to development and supports the sector’s transition towards resilient, globally integrated growth.”
Arshdeep Sethi, President, RMZ Real Estate

“The rise in education spending to ₹1,39,289 crore in Budget 2026–27, an 8.27% increase over last year, signals a strong national resolve to build future-ready human capital through sustained investment in learning.
The creation of the high-powered Education to Employment and Enterprise Standing Committee is a timely step, especially with its focus on the services sector as a growth engine for Viksit Bharat. By assessing how emerging technologies like AI are reshaping jobs and skill requirements, it can keep curricula and career pathways aligned with real market demand and help institutions respond faster. The priority now is outcome-led implementation and wider, high-quality online participation so future-ready skills scale beyond a few campuses.
These proposed measures will help make India’s talent pipeline a global growth engine, powering our country’s next phase of productivity, innovation, and competitiveness.”
Ajit Chauhan, Chairman, Amity University Online

"India’s approach to AI is becoming more grounded and outcome-focused. By positioning AI and emerging technologies as growth multipliers rather than a prestige race, the focus shifts to human-AI collaboration. Further, the proposal to set up a committee to review AI’s impact on the services sector with the ambition of capturing 10% of global services exports by 2047, highlights the scale of opportunity ahead and makes one thing clear: large-scale upskilling is a non-negotiable so the workforce can use AI confidently, ethically, and productively. Regulation will matter, but real value will come from enabling talent to apply AI effectively in everyday work.”
Sameer Inamdar, Founder & CEO, Enthral.ai

“The trade facilitation measures announced in the Union Budget mark a significant evolution in India’s approach to global commerce. By placing systemic trust and digital integration at the centre of reforms, the government has laid a strong foundation for a more resilient, agile and globally competitive export-import ecosystem.
A major highlight is the transition towards a fully digital, trust-based customs framework. The adoption of AI-enabled scanning, faster clearances and more predictable regulatory rulings goes beyond improving speed and efficiency. It enhances transparency, reduces uncertainty and provides businesses with the confidence required for long-term investment and operational planning.
Several measures directly address long-standing pain points in cross-border trade. The removal of value caps on courier exports and the simplification of duty structures significantly ease compliance, particularly for MSMEs and e-commerce exporters apart from Individuals who were always perplexed & unhappy on different duty rates These steps will help expand India’s footprint in global markets by removing procedural and value-related constraints.
The introduction of seamless export returns and “Return-to-Origin” processes reduces risk, cost and congestion in international trade. This reform improves shipper confidence, ensures faster resolution of non-clearance scenarios and creates a more business-friendly trading environment.
Further, the integration of SEZ clearances through a combination of ECCS, ICEGATE and ICES strengthens the digital trade infrastructure. This will enable Special Economic Zones to operate in a more frictionless manner and remain globally competitive. This also sets the tone for clearances of EOU, IGCRD,  MOOWR, etc via Courier.
Another impactful reform is the strengthening of the Authorized Economic Operator (AEO) framework through the introduction of a 30-day deferred duty payment option. This is a significant enabler for working capital efficiency and offers a strong incentive for businesses to adopt higher compliance standards.
Collectively, these measures represent a decisive shift towards a modern, trust-based and technology-driven trade ecosystem, reinforcing India’s ambition to become a preferred global trade and logistics hub.”
R.S Subramanian, SVP, DHL Express India

“The Union Budget 2026 underscores a clear continuity of confidence in India’s infrastructure growth story. The proposal to establish an Infrastructure Risk Guarantee Fund is a particularly forward looking intervention, it directly addresses one of the biggest hurdles in the sector: risk perception during the early stages of project development and construction. By offering partial credit guarantees to lenders, the Fund will not only ease financing bottlenecks but also embolden private players to invest in new, large scale projects with greater assurance.
Equally significant is the government’s move to accelerate asset monetisation through dedicated Real Estate Investment Trusts (REITs) for  Central Public Sector Enterprise (CPSE) owned real estate. This will unlock dormant capital, enhance liquidity in the system, and catalyse a new wave of investments across allied sectors like logistics, housing, and industrial infrastructure.
Complementing these reforms, the Budget’s thrust on industrial infrastructure through the Chemical Park and bulk drug park, Biopharma Shakti schemes enhances India’s manufacturing and innovation ecosystem. The Chemical Park and bulk drug park will create plug and play clusters to boost domestic chemical production and reduce imports, while the ₹10,000 crore Biopharma Shakti initiative aims to build a globally competitive biopharma ecosystem through new NIPERs, clinical trial networks, and upgraded regulatory standards.
Finally, with a proposed capital expenditure of ₹12.2 lakh crore for FY 2026 27, the Budget reaffirms infrastructure as the backbone of India’s economic momentum. These measures together create a balanced ecosystem, de risked, capital efficient, and geared towards sustainable, high velocity growth. For developers like Ramky Infrastructure, this paves the way for deeper partnerships in nation building.”
Sunil Nair, CEO, Ramky Infrastructure Ltd.