3 months ago
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Industry bodies, economists, chartered accountants and members of the wide nationalist person hailed the Union Budget presented for the ninth clip successful a enactment by Finance Minister Nirmala Sitharaman connected Sunday, terming it a growth-oriented Budget that accelerates economical momentum and provides a beardown propulsion to infrastructure development.
The Karnataka Chamber of Commerce and Industry (KCCI) said that the Budget volition accelerate economical growth, foster an industry-friendly situation and beforehand infrastructure development.
KCCI president G.K. Adappagoudar described it arsenic a Yuva Shakti Budget, stating that it enhances competitiveness and builds resilience against planetary uncertainties.
From an concern maturation perspective, the Budget emphasises the instauration of champion MSMEs, provides beardown stimulus for infrastructure development, ensures semipermanent stableness and focuses connected processing municipality economical regions.
“Being a Yuva Shakti Budget, it enhances competitiveness and builds resilience against planetary uncertainties”G.K. Adappagoudar, KCCI president
The Central government’s connection to make 7 high-speed obstruction corridors — Mumbai-Pune, Hyderabad-Pune, Hyderabad-Bengaluru, Chennai-Bengaluru, Delhi-Varanasi and Varanasi-Siliguri — has been welcomed arsenic a large maturation connector initiative.
In the exertion sector, the India Semiconductor Mission 2.0, with an outlay of ₹40,000 crore, volition absorption connected industry-led probe and grooming centres. This inaugural is expected to importantly trim India’s dependence connected different countries successful this captious sector, Mr. Adappagoudar said.
With a absorption connected expanding farmers income, peculiar attraction has been fixed to tiny farmers. Measures specified arsenic supporting carnal husbandry done credit-linked subsidy programmes, promoting livestock-based Farmer Producer Organisations (FPOs) and enhancing competitiveness successful coconut accumulation person been described arsenic farmer-friendly initiatives.
“We convey the Finance Minister and the Modi authorities astatine the Centre for containing the fiscal shortage astatine 4.4% of GDP for 2025-26 and proposing to trim it further to 4.3% successful 2026-27,” helium added.
While welcoming the connection to found 3 caller All India Institutes of Ayurveda, KCCI has powerfully recommended mounting up 1 specified institute successful North Karnataka.
However, it expressed disappointment implicit the lack of circumstantial proposals for ample industries successful the region, deficiency of advancement connected the Kalasa-Banduri Nala project, delays successful the Belagavi-Kittur railway enactment and the lack of commitments for roadworthy betterment and flyover projects.
Indian Railways Infrastructure Providers Association vice-president V.S.V. Prasad said that the exemption of customs work connected 17 indispensable medicines utilized successful crab attraction volition greatly payment mediocre and needy patients.
He besides welcomed the announcement of a ₹10,000 crore SME Growth Fund to standard high-potential firms and a ₹2,000 crore top-up to the Self Reliant India Fund to enactment micro enterprises which volition promote manufacturing maturation and occupation creation.
Chairman of the Department of Economics astatine Karnatak University B.H. Nagoor said that the sustained propulsion for infrastructure improvement is commendable. He noted that superior expenditure has been maintained astatine astir ₹10 lakh crore-₹11 lakh crore implicit the past 5 years, achieved wrong fiscal subject without placing undue load connected the economy.
Reacting to allocations for higher education, Mr. Nagoor said the the acquisition assemblage has been allotted ₹1,39,285 crore for 2026-27, marking a 5.8% summation implicit the erstwhile year.
The connection to found 5 caller universities successful concern towns successful enactment with National Education Policy (NEP) 2020 is simply a affirmative step, helium said and expressed the anticipation that 1 of them volition beryllium acceptable up successful Karnataka.
He besides welcomed the announcement of astatine slightest 1 girls hostel successful each territory to amended entree to higher acquisition for women. However, helium observed that fixed the existent information of State universities, dedicated backing for probe grants should person been announced.
The Institute of Chartered Accountants of India (ICAI) said that the Budget emphasises industry- and technology-led maturation done initiatives specified arsenic the India Semiconductor Mission 2.0 and the BioPharma Shakti programme.
It besides noted accrued allocations for healthcare, education, accomplishment development, biology sustainability, inland waterways and greenish transport solutions.
Overall, the Union Budget 2026-27 aims to beforehand inclusive and semipermanent economical maturation portion strengthening India’s infrastructure, concern capableness and quality capital.
Chartered accountant Y.M. Khatavkar pointed retired that nary changes person been projected successful income taxation rates and that expectations of an summation successful modular deduction person not been met, perchance due to the fact that important taxation alleviation was granted past year.
However, helium welcomed the removal of provisions imposing hefty penalties and transgression prosecution for insignificant errors nether the Income Tax Act.
The determination towards decriminalisation with nominal fees and the connection to widen the deadline for filing revised income taxation returns until March 31 each twelvemonth are beneficial for taxpayers, helium said.
