Budget Expectations Outlined
Industry stakeholders are closely watching the upcoming budget, particularly small-scale industries (SSIs). Their primary hopes revolve around measures
that facilitate modernisation, cultivate a skilled workforce, and stimulate job creation. The budget's impact is seen as crucial for the sector's growth trajectory and its ability to adapt to changing economic landscapes. This reflects a broader push to make Indian industries more robust and capable of competing globally, driving innovation and sustainable growth.
Startup Opportunity Emphasis
Creating opportunities for new startups to gain entry into railway and government supply systems is a critical aspect. This will lead to the emergence of innovative ventures within the Indian industrial landscape. This is expected to stimulate entrepreneurship and inject fresh ideas into existing processes. Emphasis is also placed on the importance of making schemes more accessible and efficient, especially for women entrepreneurs. By addressing these concerns, the budget has the potential to foster a more inclusive and dynamic industrial environment.
Competitive Manufacturing Boost
The next phase of 'Make in India' must broaden its focus beyond mere capacity building. The strategic approach must shift toward bolstering global competitiveness. The Union Budget 2026–27 is anticipated to accelerate this transition. The focus should be on initiatives that support clean energy, sustainable mining, and carbon-intelligent production. The budget is expected to contribute to wider MSME involvement and promote export competitiveness. The goal is for India to become a reliable and trusted partner on the global industrial stage.
Streamlining GST Processes
A significant expectation from the budget is the simplification of processes related to the Goods and Services Tax (GST). Specifically, industry players seek a streamlined system for registration and cancellation. Another critical request is to address the GST applied to leased premises. This involves abolishing the current 18% GST on property, which industry leaders argue is detrimental. Such modifications are viewed as essential for reducing compliance burdens and improving the overall ease of doing business for industrial entities.
