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CII President Rajiv Memani on Union Budget 2026-27
This story was originally published at 13:19 IST on 1 February 2026
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MUMBAI - Rajiv Memani, president, Confederation of Indian Industry, said the following on the Union Budget for 2026-27 (Apr-Mar), presented in the Lok Sabha by Finance Minister Nirmala Sitharaman on Sunday:
The Union Budget presented by the honourable Finance Minister aligns closely with our priorities. First, the focus on macroeconomic fundamentals--particularly linking fiscal deficit to the debt-to-GDP ratio--has been retained, which is very positive. Second, the reforms laid out in six categories are excellent: emphasis on reforms, manufacturing, simplification, and clearly identifying seven strategic sectors. Championing MSMEs (micro, small, and medium sector enterprises) through a new incremental equity support fund is a strong positive step.
Infrastructure allocations have risen again, including our recommendations for high-speed rail. For the first time, there's significant focus on middle-income India via IT (information technology) services, tourism, and related jobs. Tax simplification stands out, with safe harbour benefits for data centres, resolution of electronics manufacturing issues, and customs duty rationalisation for capex-heavy areas like nuclear power, MROs (maintenance, repair, and operations), and rare earths. Overall, it's a very positive budget: macroeconomic discipline, structural reforms, identified sectors, infrastructure, MSMEs, and city economic regions. End
As told to Pallavi Singhal and Shweta
Compiled by Shreya Shetty
Filed by Ashish Shirke
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