Budget 2026 has drawn a largely positive response from industry leaders across capital markets, manufacturing, infrastructure, agriculture, banking, aviation and real estate, with a common emphasis on fiscal discipline, capital expenditure continuity and long-term growth visibility.
Budget 2026 Reinforces Confidence in Capital Markets and Manufacturing Growth
Manish Jain, Managing Director & CEO, Bajaj Broking, said Budget 2026 prioritises confidence-building over short-term momentum for capital markets.
He highlighted the government’s fiscal deficit glide path, continued commitment to capital expenditure of ₹12.2 lakh crore, and focus on manufacturing-led growth as indicators of macroeconomic stability.
According to him, these measures create a conducive environment for long-term capital formation and improved visibility for investors.
Jain noted that the emphasis on infrastructure, semiconductors, bio-pharma and strategic manufacturing broadens India’s investment universe beyond select sectors.
While higher transaction costs in some capital market segments may impact near-term trading sentiment, he underscored that continuity and fiscal prudence will remain far more important for long-term investors, with markets increasingly rewarding quality businesses aligned with India’s structural growth themes.
Also Read: India’s Defence Budget Touches Record ₹7.85 Lakh Crore; Focus on Indigenous Manufacturing
Budget 2026 Boosts Infrastructure-Led Demand Across Core Industries
Kuldip Raina, Managing Director & CEO, Shalimar Paints, described Budget 2026 as a strong push for infrastructure-led growth.
He pointed to the increase in capital expenditure to ₹12.2 lakh crore for FY 2026–27 and the introduction of the Infrastructure Risk Guarantee Fund as key enablers that will support construction, infrastructure and manufacturing activity.
Raina also highlighted the growing economic focus on Tier II and Tier III cities as emerging growth centres, noting that expanding urban clusters will require comprehensive infrastructure solutions.
He added that the scaling up of strategic manufacturing sectors further underscores the need for durable infrastructure assets and long-term protection of capital investments.
Budget 2026 Strengthens Agri and Food Value Chains
Abhay Parnerkar, CEO, Godrej Foods Ltd, said Budget 2026 reflects a strong focus on strengthening India’s agriculture and animal husbandry ecosystem.
He welcomed the government’s push for credit-linked support, farmer producer organisations and integrated approaches to improving farmer incomes, stating that these initiatives will help build resilient and future-ready food value chains.
Parnerkar emphasised that continued investment in agricultural infrastructure, innovation and manufacturing capabilities will empower farmers while enabling food companies to deliver safe, nutritious and responsibly produced products to consumers.
Also Read: Mega Textile Parks in Challenge Mode: Budget 2026 Announces Five-Component Textile Programme
Budget 2026 Maintains Fiscal Prudence and Expands MSME Support
Challa Sreenivasulu Setty, Chairman, State Bank of India and Chairman, Indian Banks’ Association, said Budget 2026–27 maintains policy continuity and tax predictability while balancing rural and urban priorities alongside legacy and sunrise sectors.
He highlighted the continued focus on manufacturing, semiconductors, data centres, artificial intelligence and infrastructure.
Setty noted that the announcement of a dedicated SME Growth Fund and the mandate for TReDS with credit guarantee support are expected to act as key drivers for MSME growth.
He also pointed to initiatives across pharma, tourism, skilling and sports as contributors to employment generation. On the fiscal front, he highlighted effective capex of ₹12.2 lakh crore and continued fiscal deficit consolidation as positives amid global economic volatility.
Budget 2026 Supports Tourism and Aviation Expansion
Aloke Singh, Managing Director, Air India Express, said Budget 2026–27 sends a reassuring signal for long-term growth, anchored in fiscal discipline and infrastructure-led development.
He noted that sustained capital expenditure and destination-focused investments provide a strong foundation for tourism and civil aviation growth.
Singh highlighted the relevance of measures supporting medical value tourism and destination development, which are expected to drive inbound travel and improve air connectivity to Tier II and Tier III cities.
He added that the parallel focus on skilling and professionalising the tourism workforce strengthens the ecosystem required to sustain sectoral growth.
Also Read: Budget 2026–27: How City Economic Regions and Infrastructure Push Will Redefine Real Estate
Budget 2026 Encourages Balanced Urban and Real Estate Development
Aparna Reddy, Executive Director, Aparna Enterprises Ltd, welcomed Budget 2026–27, stating that the enhanced capital expenditure allocation reinforces infrastructure as a key growth pillar.
She highlighted the Infrastructure Risk Guarantee Fund as an important step in improving project viability and financing confidence during construction and early development phases.
Reddy also pointed to the Budget’s emphasis on City Economic Regions and infrastructure development in Tier II and Tier III cities as a move towards balanced urban growth.
She said expanding connectivity and infrastructure in emerging cities is expected to drive demand for housing, commercial real estate and construction materials, supporting long-term capacity building across the construction sector.
Niranjan Kirloskar, Managing Director, Fleetguard Filters Private Limited, said, “Union Budget 2026 reinforces the government’s focus on infrastructure- and manufacturing-led growth, with capital expenditure of ₹12.2 lakh crore expected to generate strong multiplier effects across capital goods, mobility and industrial operations. The emphasis on Tier II and Tier III cities as emerging manufacturing and logistics hubs will deepen regional industrial activity and drive demand for reliable, high-performance equipment solutions. In addition, policy clarity, procedural tax relief and the push to develop rare earth and critical mineral corridors strengthen domestic supply chains and support long-term capacity building. Overall, the Budget prioritises sustainable, efficiency-driven growth aligned with the Viksit Bharat vision.”
