New Delhi: Industry leaders on Sunday welcomed the Union Budget 2026-27, calling it a robust and credible roadmap aimed at enhancing India’s competitiveness through fiscal discipline, structural reforms, and targeted measures to encourage private investment.
Amin Jain, President of CII Punjab, highlighted several key announcements for the textile sector. He noted the development of mega textile parks, integrated schemes for labour-intensive textile clusters, and the redevelopment of heritage textile parks. These initiatives, he said, will provide a significant boost to the domestic textile industry.
Jain also appreciated the announcement of a ₹10,000 crore MSME fund, stating that the textile sector houses the largest number of MSMEs in the country. He expressed optimism that this fund will benefit the entire sector.
Naresh Pachisia, President of the India Chambers of Commerce, described the budget as balanced, helping sustain an economic growth rate of around 7 percent. He pointed out that the Finance Minister announced targeted plans across sectors, ensuring broad-based development.
Pachisia further commended the government for maintaining strong fiscal discipline to keep inflation under control. He mentioned that the fiscal deficit for the current financial year has been set at 4.4 percent, with a target of 4.3 percent for the next year, which strengthens resilience against global economic uncertainties.
Mukul Bagla, Chairman of the Direct Tax Committee at PHDCCI, called the budget a step in the right direction. He said the fiscal deficit currently stands at 4.4 percent and there is a plan to gradually reduce it to 4 percent.
Bagla added that while the previous budget introduced several tax relief measures, the current budget focuses more on stability.
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