The Union Budget 2026-27 lays a strong foundation for achieving Viksit Bharat by 2047, with a focused push on agriculture, tourism, data centres, electronics, advanced manufacturing and green energy. Dr Vijay Kalantri, Chairperson, World Trade Centre Mumbai and President, All India Association of Industries, has said that the budget strengthens ‘Atmanirbharta’ by incentivising domestic manufacturing in advanced technologies, the biopharma industry, container manufacturing and construction materials, along with a strategic focus on rare earth elements to build supply-chain resilience amid global uncertainty.
Dr Kalantri welcomed the special thrust on MSMEs through enhanced liquidity, dedicated funds and the integration of GeM and TReDS, positioning them as key growth drivers. He said the emphasis on urban infrastructure financing, municipal bonds, export-oriented customs duty rationalisation and tax simplification would boost ease of doing business, while the acceptance of the 16th Finance Commission’s recommendation retaining 41 per cent devolution and the allocation of 1.4 lakh crore rupees to states is a positive step. He added that this forward-looking budget could help India sustain 8-9 per cent growth and reach a 30-trillion-dollar economy by 2047.
