Union Budget FY27 Quotes 

The FY27 Union Budget lays out a transformative blueprint for India’s transport future, powered by a record capital outlay of ₹17.14 lakh crore in effective capex. This unprecedented investment reinforces railways as the backbone of India’s long-term mobility and logistics strategy. By enabling high-speed connectivity, strengthening freight corridors and accelerating nationwide logistics efficiency, the government is building the foundations of a seamless, future-ready movement ecosystem for a $10 trillion India.
The Budget’s emphasis on indigenisation and advanced technologies reflects a maturing industrial landscape—one where resilience, innovation and global competitiveness will define the next decade of India’s railway evolution.
For Concord Control Systems, this moment is more than an opportunity—it is a call to leadership. As India builds intelligent, autonomous and technology-driven rail networks, we are committed to advancing the control, signalling and electronics backbone that will power this transformation. The nation is entering an unprecedented era of rail modernisation, and we are proud to be among the pioneers shaping that journey.” Gaurav Lath, Joint Managing Director, Concord Control Systems Limited
 
 
“The Union Budget FY27 presents a decisive and forward-looking vision for India’s transport and infrastructure ecosystem, anchored by a record ₹17.14 lakh crore effective capital outlay. This scale of investment firmly positions railways at the heart of India’s long-term mobility and logistics strategy—driving high-speed connectivity, strengthening freight corridors, and enabling a more integrated, efficient movement of people and goods across the country.
 
The Budget’s continued emphasis on indigenisation, advanced electronics, and technology-led infrastructure signals a maturing industrial landscape where innovation and resilience will be key differentiators. For Concord Control Systems, this is a defining moment. As India accelerates towards intelligent, autonomous, and digitally enabled rail networks, we remain deeply committed to strengthening the control, signalling, and embedded electronics backbone that will power the next generation of rail modernisation. We are proud to play an active role in shaping a future-ready railway ecosystem for a rapidly growing India. Nitin Jain, Joint Managing Director, Concord Control Systems Limited

“The creation of a High Powered Education to Employment and Enterprises Standing Committee signals a landmark shift in India’s approach to human capital development. By directly linking education, skilling, employment, and entrepreneurship, the government is building the connective tissue needed for sustainable growth in the services sector—especially as India aspires for a 10% global share by 2047.
The unified IT Services framework eliminates tax arbitrage, streamlines compliance, and strengthens India’s position as the world’s software and digital services hub. For the technology and services industries, this initiative comes at a pivotal moment. As artificial intelligence and emerging digital platforms redefine work, the focus on adaptive skill pathways will be crucial to ensuring that opportunity keeps pace with innovation. At CDK Global, we see this as an inflection point to deepen industry academia collaboration, integrate AI driven skill development, and create future ready career paths in technology, analytics, and customer experience.
Also, the vision for technology as a societal equalizer—from empowering farmers and women in STEM to enhancing accessibility for divyangjan—echoes our own belief that digital progress must be inclusive by design. This alignment between policy intent and industry capability sets the stage for India’s next chapter as a global leader in technology enabled services.”
Sandeep Kumar Jain, Managing Director, CDK Global

“Union Budget 2026–27 reinforces the government’s dual priority of sustaining growth while maintaining fiscal discipline. Continued high capital expenditure in infrastructure, manufacturing, digital public infrastructure, and energy transition is expected to crowd in private investment and strengthen India’s long-term growth trajectory. 
A key highlight is the strong emphasis on financial sector reforms. The banking system was described as healthier and more resilient—with improved asset quality, stronger balance sheets, and rising profitability. A high-level committee on banking has been proposed to align the sector with India’s next growth phase and help in achieving Viksit Bharat goals. This committee will undertake a comprehensive review of the banking sector’s structure, governance, and future readiness to meet India’s expanding credit needs, while safeguarding stability and consumer interests. 
Public sector banks are set to see further governance and technology-driven reforms aimed at improving efficiency and competitiveness. The Budget also includes the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), alongside a comprehensive review of the Foreign Exchange Management (FEMA) (non-debt instruments) Rules. 
Additionally, the Budget underscores the growing role of non-banking financial companies (NBFCs) in expanding credit access and calls for deeper insurance penetration. It further provides an incentive of ?100 crore for single issuance of municipal bonds of more than ?1,000 crore and introduces a market-making framework and total return swaps on corporate bonds—supported by tax measures such as raising the STT on futures from 0.02% to 0.05% and increasing STT on options premium and exercise of options to 0.15% from 0.1% and 0.125%, respectively. 
Together, these measures point to a reform-led push to build a stronger, more inclusive financial ecosystem.”
Gayathri Parthasarathy, Partner and Leader - Financial Services, PwC India 

“As India moves forward with the INR 10,000 Cr BioPharma Shakti initiative, the Union Budget presented a defining moment to strengthen the country’s position as a global vaccine and biologics manufacturing hub.
India already supplies nearly 60% of the world’s vaccines, and this initiative has the potential to accelerate our transition from being a volume-driven supplier to an innovation-led biopharma leader. Targeted investments in advanced manufacturing infrastructure, high-containment facilities, and indigenous production of key raw materials such as culture media, adjuvants, and single-use systems will significantly improve supply chain resilience.
Overall, the Budget lays a strong foundation for India to evolve from the ‘pharmacy of the world’ to a trusted global hub for affordable vaccines, biologics, and health security.”
Dr. K. Anand Kumar, MD, Indian Immunologicals Ltd

"The Union Budget 2026-27 is a clear roadmap for all-round growth, balancing industrial scaling with job creation, and laying a robust foundation for a Viksit Bharat. Anchored in the three 'Kartavyas'—accelerating growth, building capacity, and ensuring inclusive participation, it reflects a vision that resonates strongly with the banking sector and institutions like Indian Overseas Bank. 
With a ₹10,000 crore SME Growth Fund to create 'Champion MSMEs' and mandatory use of TReDS for CPSE purchases, the government is providing small businesses with the structural support to scale. This enhances our ability to extend targeted credit and support MSME growth across regions. Initiatives such as ISM 2.0, tax incentives for Data Centres and cloud services, and Bharat Vistaar, a multilingual AI platform for agriculture align perfectly with our focus on financing high-tech manufacturing, digital infrastructure, and rural productivity. Credit-linked subsidy programmes for Animal Husbandry and Fisheries, along with Mega Textile Parks, Rare Earth Corridors, and doubled NRI investment limits, provide new avenues for inclusive financing and investment facilitation. 
The High-Level Committee on Banking for Viksit Bharat further strengthens institutional efficiency, enabling banks to better support India’s next phase of growth. Overall, this budget is a forward-looking, data-driven plan that empowers us to drive sustainable growth and inclusive development across the country.”
Ajay Kumar Srivastava, Managing Director & CEO, Indian Overseas Bank

“The Union Budget 2026’s push in the India Semiconductor Mission 2.0 will significantly help the country’s utilities automation sector, saying, "The India Semiconductor Mission 2.0 represents a meaningful commitment by the Government of India to the growth of the utilities automation sector. With a ₹40,000 crore outlay, this initiative provides vital support to full-stack, deep-tech enterprises like ours as we develop domestic intellectual property and scale Indian innovation globally. The localization of critical semiconductor components will create a powerful snowball effect: improving accessibility, reducing lead times, and lowering costs, unlocking opportunities in price-sensitive domestic markets, and accelerating the digital transformation of utilities."
Anil Agrawal, Founder & CEO of CIMCON Automation

“Union Budget 2026 signals a clear shift toward structural strengthening of MSME financing, with banks placed at the centre of execution. The most significant intervention is the deepening of TReDS, including mandatory routing of CPSE MSME payments and enhanced credit guarantees for invoice discounting.
From a banking perspective, this improves cash-flow visibility, shortens working-capital cycles, and enables safer, receivable-backed lending rather than collateral-heavy approaches.
Also the  proposed ₹10,000 crore SME Growth Fund complements traditional bank credit by addressing the equity gap for scalable MSMEs. This is positive for banks as better-capitalised enterprises typically demonstrate stronger repayment capacity and lower credit risk, creating opportunities for long-term lending and cross-sell. Expanded credit guarantee coverage further strengthens lender confidence, particularly for micro and small enterprises, supporting both growth and priority sector objectives.
The Budget also reinforces data-led credit delivery, with integration across platforms such as GeM, GST, and TReDS, allowing banks to sharpen underwriting, pricing, and early-warning mechanisms. Overall, Budget 2026 moves MSME banking from volume-driven lending to cash-flow-based, digitally enabled, and risk-calibrated financing, while placing strong emphasis on formalisation, resilience, and sustainable growth of the MSME ecosystem.”
Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending, and Supply Chain Finance, Bank of Baroda

“The Budget’s strong push towards decentralising India’s startup ecosystem is both timely and transformative. As a platform witnessing massive growth from non-metro India, we welcome the scaled-up GENESIS programme and the expanded Fund of Funds. This directly addresses the biggest hurdle for founders outside the big metros: Access to Capital.
For a digital-first business, the Ease of Doing Business is just as important as funding. The Budget’s focus on simplifying compliance for digital startups and the continued investment in Digital Public Infrastructure (DPI) will be the real catalyst. It lowers the barrier to entry, allowing entrepreneurs in Tier 2 and Tier 3 cities to focus on building a product rather than paperwork. This essentially bridges the gap between India and Bharat, ensuring that the next wave of tech innovation is inclusive, widespread, and grassroots-led."
Ravi Mittal, Founder & CEO of QuackQuack & Rebounce

“The ₹10,000 crore SME Growth Fund and the ₹2,000 crore top-up to the Self-Reliant India Fund clearly signal the governments intent to push MSME growth beyond the metros. Measures such as TReDS reforms, invoice discounting and new credit-guarantee support for MSME receivables will be especially helpful for manufacturers in Tier-II and Tier-III towns, where access to timely working capital remains a major issue.
The introduction of Corporate Mitras will ease compliance and accelerate formalisation for small units that are strong in operations but weak in paperwork. Along with the revival of industrial clusters and a sharper focus on emerging cities, this decentralised approach strengthens local manufacturing ecosystems and job creation. Overall, the Budget enables MSMEs in these regions to scale sustainably rather than stay dependent on metro-led growth.”
Dr. Irfan Khan, Chairman of EBG Group

“What stands out in Budget 2026–27 is the government’s conviction on public capex, raised to ₹12.2 lakh crore, even as real estate cycles remain selective. The combination of CPSE asset recycling through dedicated REITs, an Infrastructure Risk Guarantee Fund and ₹5,000 crore allocations per City Economic Region over five years directly improves project viability and lender confidence. Improved logistics under the Coastal Cargo Promotion Scheme further supports destination-led hospitality development. On the demand side, simplifying TDS on non-resident property transactions by removing the TAN requirement meaningfully reduces friction for NRI buyers. Together, these measures strengthen capital flow, execution certainty and long-term investability across hospitality-led real estate markets.” 
Sandeep Ahuja, Global CEO, Atmosphere Living

“The Union Budget 2026–27 sets an ambitious stage for India’s emergence as a powerhouse of advanced manufacturing and next-generation energy systems. By prioritising long-term capital investment and accelerating the build-out of national infrastructure, the Budget lays the foundation for India to lead in technologies that will define global industry for decades.
The Budget’s sustained focus on energy through increased support for infrastructure, technology, and critical industrial sectors reinforces India’s commitment to expanding reliable, low-carbon capacity while accelerating the shift toward cleaner fuels and future-ready technologies. These measures create a stable policy environment for investments in areas such as cryogenics, clean fuels, renewable energy components and high-value industrial equipment.
The enhanced fiscal space created through substantial resource transfers to states ₹25.43 lakh crore in FY27 will further enable state governments to advance clean-energy projects, industrial corridors, and large-scale infrastructure that support India’s growing energy and manufacturing needs.
Overall, the Budget strikes a prudent balance between fiscal responsibility, structural reforms and targeted public investment. It lays a strong foundation for accelerating India’s energy transition, scaling advanced manufacturing, and building resilient infrastructure areas where INOX India remains deeply committed to contributing with world-class engineering and technology.” 
Deepak Acharya, CEO, INOX India Limited

“Union Budget 2026 gives limited direct emphasis to real estate or homebuyers. The Infrastructure Risk Guarantee Fund and REITs for CPSE assets can unlock funds and speed up monetization. Simplifying TDS on property sales by non-residents through PAN challans will ease transactions and improve transparency for foreign buyers. Stronger municipal finances and market-based funding will aid development of integrated townships. Growing economy coupled with better infrastructure framework will lead to balancing real estate dynamics.” 
Rohan Khatau Director CCI Projects
 

“The Union Budget 2026 gives renewed focus on the government having capital-led growth and developing long-term national infrastructure. The Budget raises capital expenditure to ₹12.2 trillion for FY2026-27, up from ₹11.2 trillion in the previous year, reinforcing infrastructure investment as a key growth driver. The unambiguous difference between revenue spending and capital expenditure, as well as long-term commitments to the development of assets, gives infrastructure developers and manufacturers long-term visibility.
The Budget focuses on the capital formation, monitoring of outcomes and medium-term fiscal planning, which provides a stable policy environment in the energy transition in India. The fiscal deficit is targeted at 4.3 % of GDP for FY2026-27, underscoring continued fiscal stability alongside investment push. The emphasis to productive capital spending and accountability will facilitate grid modernisation, a field that is well aligned with the ability of Skipper to supply power equipment, grid enabling systems and advanced engineering solutions.”
Sharan Bansal, Director, Skipper Limited

“As India’s disease burden shifts towards non-communicable diseases, the Budget is observed strengthening the healthcare landscape at a critical time for patients and provides much-needed structural reform. The emphasis on building robust biopharmaceutical capabilities and promoting India as a global medical tourism hub holds a future for expanding access to innovative cancer therapies and reducing dependency on imports. Complementing this, the exemption of basic customs duty on 17 cancer drugs and the inclusion of additional rare diseases for import duty relief will significantly ease the financial burden on patients, together improving long-term outcomes for chronic and cancer patients alike.
We are encouraged by initiatives that aim to improve affordability, accelerate clinical research, and enhance the overall quality of care for cancer patients nationwide. We look forward to supporting and participating in this collaborative journey to make world-class, affordable cancer care accessible to all.”
Avik Chauhan, Cluster Chief Operating Officer at HCG Cancer Centre, Mumbai

“The Union Budget 2026 reinforces the government’s commitment to Atmanirbhar Bharat by strengthening domestic manufacturing, accelerating infrastructure development, and enhancing long-term energy security. The focus on scaling manufacturing capabilities, improving cost competitiveness, and supporting exports is a positive step towards building globally competitive Indian enterprises.
The emphasis on infrastructure and housing-led development in Tier II and Tier III cities, alongside initiatives to boost household incomes, is expected to stimulate demand for energy-efficient consumer electricals and appliances. As access to reliable power and urban infrastructure expands, demand for modern, efficient products will continue to rise.
Overall, this growth-first budget reinforces the positive demand outlook for electricals, appliances, and housing-linked categories, signaling a robust phase of economic expansion.”
Ravindra Singh Negi, Managing Director and CEO, Orient Electric

“The Union Budget 2026–27 presents a balanced and forward-looking roadmap for strengthening India’s infrastructure-led growth while boosting mobility, tourism potential and service-sector employment. The continued emphasis on public capital investment, with effective capex rising to ₹17.14 lakh crore, alongside improved transport networks and last-mile connectivity, will enhance the efficiency and reliability of travel and mobility ecosystems nationwide.
The Budget’s focus on logistics improvements, multimodal transport integration and urban infrastructure aligns well with the evolving needs of India’s corporate mobility and hospitality sectors. Enhanced allocations for transport, urban renewal and centrally supported schemes will support smoother movement of people and goods, reduce congestion and promote more sustainable mobility outcomes.
Equally important are measures to simplify compliance, encourage formalization and strengthen MSMEs, fostering a more trust-based regulatory environment that enables service-oriented enterprises to scale with confidence. Overall, the Budget reinforces India’s journey towards a globally competitive, service-driven economy and opens new avenues for organized mobility and hospitality providers.” 
Deepali DeV, Chief Operating Officer of ECOS (India) Mobility & Hospitality Limited.

“We congratulate the government on presenting a forward-looking Union Budget that reinforces infrastructure as a foundation for sustainable real estate growth. The Budget provides a strong tailwind for the real estate sector in Tamil Nadu, especially in Chennai and emerging growth corridors across the state.
The continued focus on infrastructure development, city economic regions, Tier I and Tier II cities, and improved connectivity will accelerate planned urban expansion and enhance the attractiveness of well-developed residential locations.
Measures to unlock real estate assets through REITs, reduce construction-phase risks for infrastructure projects and simplify property transactions involving non-residents will further strengthen ease of doing business and market transparency. Importantly, the emphasis on sustained public investment and economic stability will help improve affordability and boost homebuyer confidence.
For plotted development, this creates an enabling environment for first-time buyers and long-term investors seeking accessible, well-connected and value-driven housing options.”
Bala Ramajayam, Founder and Managing Director, G Square Group