Retail Sector Hopes
The Indian retail sector anticipates significant growth opportunities from Budget 2026. Retailers are hoping for measures that promote expansion and competitiveness.
This includes streamlined GST (Goods and Services Tax) processes, potentially reduced duties on essential goods, and improved infrastructure to facilitate supply chains. Moreover, industry players are pushing for increased credit facilities to support MSMEs (Micro, Small, and Medium Enterprises), which are crucial for retail sector growth. Investments in digital infrastructure and e-commerce platforms are also expected. These initiatives are hoped to boost the sector's contribution to Viksit Bharat's vision, aiming for comprehensive development across the nation. The sector's requests are designed to cultivate a more resilient and thriving retail landscape, thereby contributing to the overall economic advancement and creating jobs.
Real Estate Demands
The real estate sector is seeking infrastructure status, which could unlock significant advantages. This would grant access to easier financing, lower interest rates, and other incentives. The sector has also called for reforms related to capital gains tax and streamlining approvals, reducing project delays. Additionally, it wants measures that increase housing affordability and promote sustainable development practices. Home decor and furniture sectors are also looking for government support to thrive. The industry's requests revolve around the 'Housing for All' initiative. The goal is to address existing housing shortages and accommodate the needs of a growing population. These developments are aimed at stimulating growth, boosting investment, and ensuring a more stable and attractive real estate environment. This also aligns with the government's aim of infrastructure development, which drives economic growth.
Gems and Jewellery Plea
The gems and jewellery sector is advocating for significant changes in the upcoming budget. The primary focus is on reducing GST rates and implementing duty reforms to boost competitiveness. Industry participants seek a level playing field, particularly in customs duties, to encourage domestic manufacturing and exports. Furthermore, the sector is looking for measures that can formalize the industry. This includes incentives for compliance, simplification of tax regulations, and enhanced access to finance. MMTC-PAMP, a major player in precious metals, has flagged the duty gap, looking for relief for refiners in the Union Budget. These measures would support the sector's contribution to the 'Make in India' initiative, creating job opportunities. The goal is to make the gems and jewelry sector a stronger contributor to India's economy.
MSME's and Credit
MSMEs are considered the backbone of India's economy, and the Budget 2026 is expected to prioritize their financial well-being. Increased credit facilities are a crucial demand, enabling MSMEs to expand operations, invest in technology, and manage working capital effectively. Enhanced access to credit, with favorable terms and conditions, can help MSMEs overcome financial constraints. This would involve easing lending processes, reducing collateral requirements, and exploring innovative financing solutions. Streamlined regulatory compliance and tax benefits are also expected, aiming to ease the operational challenges that MSMEs face. By supporting the growth of MSMEs, the budget can foster entrepreneurship, create jobs, and ensure inclusive economic growth. The focus on MSMEs is essential for achieving the vision of a Viksit Bharat.
Taxpayer Expectations
Taxpayers eagerly await announcements that can ease their financial burdens. Expectations include revisions in income tax slabs, rebates, and potential adjustments to the tax regime, to align with the current economic conditions. Simplified tax filing processes and more transparency are expected. Measures to encourage savings and investment are also crucial. The overall goal is to make the tax system more user-friendly, fair, and supportive of individual financial well-being. Changes in capital gains tax are seen as a way to restore overall confidence among investors, and align with the current tax regime. These expectations emphasize the role of the budget in strengthening the economy, and offering relief to taxpayers.
