Budget 2026: As India prepares for the upcoming Union Budget, voices from the ground in Vadodara and insights from market and tax experts paint a powerful
picture of rising daily pressures, investor anxiety, and the urgent need for people-centric reforms. In conversations with ET Now Swadesh and ET Now, citizens and experts alike highlighted one common truth — the Budget is no longer just about numbers, it’s about dignity of living, financial fairness, and economic confidence.
Rising living costs, longer work hours, search for happiness
For many residents in Vadodara, life has become a daily struggle of balancing income and survival.
One resident summed it up simply: living costs are rising continuously, working hours are stretching longer, and people are facing challenges at every level of daily life. Instead of only focusing on GDP growth, he said India must start thinking in terms of a "Gross Happiness Index" --where human well-being matters as much as economic numbers.
His concern reflected a deeper frustration in the investing community too. According to him, markets have been hit hard by changes in short-term and long-term capital gains tax, with higher tax rates reducing investor participation, lowering market turnover, weakening confidence, and impacting the rupee. Despite better corporate Q3FY26 results, he believes market sentiment remains fragile because policy pressure is disconnecting financial growth from ground reality.
‘No Fun in the Market Anymore’: Small investors feel left out
A young woman investor echoed the same emotional reality. She pointed out that while headlines celebrate the rise in demat accounts, the real experience of new investors is very different. For those who entered the market in the last three to four years, she said, “there is no fun in the market anymore.”
She described how stock markets feel like they are constantly going down, while gold and silver are sitting in what she called a “bubble”, over-hyped and over-valued. Many small investors are simply waiting for that bubble to burst, hoping the money flow will return to equities and real opportunities for retail investors will reopen.
Middle-Class Tax Fatigue: ‘We pay tax on everything’
Another Vadodara resident from the financial services sector highlighted a deeply emotional issue — multiple layers of taxation. He explained how people already pay income tax, then invest their taxed income, pay capital gains tax on profits, and later pay GST while spending that money.
"Double tax, sometimes triple tax -- on the same income," he said. His expectation from the Union Budget is clear: reduce long-term capital gains tax and ease the burden on honest taxpayers who feel squeezed at every stage of earning, investing, and spending.
Budget Should Unite India, Not Divide It: Jayesh Pandya
Jayesh Pandya, Managing Editor at Sai Star Digital Media Pvt Ltd, brought a national perspective to the conversation. He said the Union Budget must truly reflect the idea of a ‘Union of India’, not a politically-centred or state-specific document.
According to him, the country needs a Budget that supports the entire nation, where small and medium industries grow alongside large corporate houses. Drawing from his decades of experience in media and the digital transition, he said traditional industries now feel sidelined while corporate dominance keeps increasing, creating a sense of unfairness in the system.
His message was simple: the nation needs inclusive growth, equal opportunity, and policies that give space to every sector — big or small.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
