Budget 2026 Expectations: Seamless Digital Registration Vital For Investor Confidence

If we genuinely want scientific progress and global competitiveness, R&D funding has to increase. Earlier, private-sector research was encouraged through income-tax deductions, which are no longer available. We hope this budget restores strong support for R&D for both public institutions and industry, says Dr. R.G. Agarwal, Chairman Emeritus, Dhanuka Agritech Ltd.

"We often talk about strengthening India’s innovation ecosystem, but the reality is that India still spends only about 0.7% on research and development. Countries like China, Israel, the US and many European nations invest much more."

"For India to truly become a product nation, we must move beyond assembly and adoption to designing and developing critical technologies in India. This requires a mission-mode approach for sectors of national importance such as clean energy, clean mobility, AI, rare earth security, and energy security," Akshay Kashyap, managing director of Greenfuel Energy Solutions Pvt. Ltd, said.

He highlighted that the government should reinstate robust research and development incentives, including weighted tax deductions of up to 250%, and play a larger role as a demand aggregator for mission-critical technologies.

Public procurement norms need to move away from the lowest-cost (L1) model toward a T1-based framework that rewards firms with around 80% local value addition and indigenous design. Such measures are especially crucial for sectors like electrolyzers, fuel cells, electric vehicles, energy storage, and hydrogen-based mobility systems.

"A calibrated reduction in transaction-level TDS and a review of loss set-off provisions could help restore onshore liquidity, improve compliance, and ensure that more economic activity remains within India’s regulated perimeter, without compromising oversight or enforcement," said Nischal Shetty, Founder, WazirX.

Ahead of the Union Budget 2026-27, farmers have once again reiterated their demand to cover all agricultural crops under the minimum support price (MSP). Bhartiya Kisan Union (BKU) National General Secretary Chaudhary Yudhvir Singh said this has always been a key demand of farmers.

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Ahead of the Union Budget 2026, the Indian Micro-Fertilizers Manufacturers Association has called for extending the 5% Goods and Services Tax (GST) across all fertilisers notified under the Fertiliser Control Order (FCO), PTI reported. The industry body has also urged the government to expedite refunds of excess GST credits and implement a unified licensing system.

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"It is expected that the upcoming budget would be more rational with greater allocation towards direct infrastructure spend through PPP as well as investment subsidies, as to be more in sync with the practices in other more developed ecosystems such as in the USA and China," said Padmanand V, Partner, Grant Thornton Bharat.

"Budget 2026 presents an opportunity to recalibrate agricultural policy from being production-centric to market-, quality-, and innovation-oriented. This Budget can accelerate outcomes by strengthening large-scale crop programmes such as pulses and oilseeds missions, while balancing food security needs through productivity enhancement, buffer management, climate-resilient crops, and a robust PDS," said Ajay Kakra, Leader–Food and Agriculture, GIDAS, Forvis Mazars in India.

As the Union Budget approaches, markets are looking for stability and reassurance rather than dramatic announcements. With growth moderating and earnings under pressure, a clear fiscal direction, targeted support for jobs and investment, and continued focus on infrastructure can help rebuild confidence and sustain long-term growth,” said Ajay Kumar Yadav, Group CEO & CIO, Wise Finserv.

"Budget 2026 is expected to strengthen the e-mobility ecosystem through higher funding for research and development, especially in advanced materials, high-performance battery components and next-generation energy storage. Greater focus on innovation-led schemes and targeted fund deployment can help accelerate EV adoption and build long-term competitiveness,” said Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical Ltd.

“Union Budget 2026 should recognise the rising role of Tier-II cities in driving housing demand and support it by higher urban infrastructure spending, tax relief for homebuyers and incentives for affordable housing. Greater policy focus and funding for emerging hubs like Sonipat can help sustain real estate growth beyond metros,” said Abhay Mishra, President & CEO, Jindal Realty.

India's tourism and hospitality industry seeks full infrastructure status and GST rationalization in Union Budget 2026. Experts highlight the sector's 8% GDP contribution and the need for fiscal support for religious, MICE, and medical tourism, says Rahul Deb Banerjee, Chief Operating Officer at The Clarks Hotels & Resorts.

"Beyond its steady growth, the hospitality and tourism industry has emerged as a key contributor to India’s economic development, accounting for approximately 7–8% of GDP. Over the past few years, the sector has witnessed expansion across multiple segments, including experiential and domestic travel, religious tourism, destination weddings, MICE, and medical tourism. This positive momentum presents an opportunity to further strengthen the sector through continued policy facilitation, including infrastructure status, tax rationalisation, and capital investment support.

As travel demand continues to rise, affordability and accessibility remain important considerations for sustaining growth. Air connectivity and last-mile transportation play a vital role in enabling tourism flows, particularly during peak travel periods. Measures aimed at fare rationalisation, review of ATF taxation, and greater consistency in local transport pricing would help enhance destination accessibility and support overall demand across tourism and hospitality markets," he said.

“Entering 2026, demand is being driven by experiential travel, destination weddings and wellness-led stays, creating the need for policy support that encourages long-term, quality-led investment. Reforms such as granting tourism industry status, rationalising GST and improving access to infrastructure and green financing can meaningfully strengthen the sector. For destinations like Jaipur, targeted budgetary support for tourism infrastructure, heritage-sensitive development and sustainable hospitality projects will help enhance global competitiveness while preserving cultural identity and driving inclusive growth," said Ms. Amrita Gupta, Director of Manglam Group and CEO of Manglam Spa and Resorts

"For real estate, the focus should remain on structural enablers such as improved housing affordability, rationalisation of GST on construction and redevelopment, and easier access to long-term capital. Continued investments in urban infrastructure and policy clarity on REITs, redevelopment, and alternative capital pools will support sustainable growth. A strong push towards green buildings through meaningful incentives for sustainable construction will also be critical in future-proofing the sector,” said Binitha Dalal, Founder and Managing Partner, Mt. K Kapital

“From a real estate and infrastructure standpoint, the Budget presents an opportunity to deepen the momentum already visible across India’s cities. Continued focus on urban infrastructure, transport connectivity, and housing-linked development will be critical, especially as Tier 2 and Tier 3 markets emerge as the next engines of growth. Policy continuity, faster approvals, and incentives that encourage sustainable construction can significantly improve execution efficiency on the ground," said Mohit Goel, Managing Director, Omaxe Ltd.

"The government should ensure that their Budget is reflective of the aforementioned areas, with increased emphasis on domestic production of medicines; simplifying the GST around essential medicines; improving availability of credit for MSMEs in the pharmaceutical and health sectors; and investing in cold chain logistics, warehouse, and digitalisation/technology around supply chain management. These investments will be key to reducing costs and ensuring access to medicines throughout Bharat," said Dr. Sujit Paul, Group CEO, Zota Healthcare Ltd.

Ahead of Union Budget 2026, BIT Mesra outlines its vision for the education sector. Key demands include enhanced funding for AI and clean energy, digital infrastructure growth, and identical opportunities for private universities to build a future-ready, equitable talent pool for India.

Prof. Indranil Manna, Vice Chancellor, Birla Institute of Technology said, “With the Union Budget 2026 set to be introduced next month, we at BIT Mesra look forward to measures that enhance investment in research, innovation, and digital infrastructure. Emphasis on funding for higher education, especially in emerging domains such as artificial intelligence, clean energy, and advanced manufacturing will be critical to building future-ready talent. Additionally, continued support for start-up incubation and industry-academia collaboration can further allow students and researchers to shape ideas into scalable, real-world solutions. At the same time, focused allocations for scholarships and skill development will help ensure equitable access to quality education across regions. Today, more students in India study in private universities and colleges than in government-funded institutions. Hence, the government must provide them with identical opportunities and support in the forthcoming budget.”

“The Union Budget’s continued focus on income stability, inflation management and ease of doing business is a positive signal for the retail industry, where demand is closely tied to consumer confidence and price predictability. Recent steps towards GST rationalisation, a reduction from 18% to 5% have been encouraging, particularly in simplifying compliance and easing cash flow pressures for organised retail. These measures reflect the government’s intent to reduce friction in day-to-day operations. With consumption in India steadily rising, the next phase of growth must be backed by stronger domestic manufacturing. Supporting ‘Make in India’ through supply-chain incentives and MSME enablement will be key to ensuring that growing demand is met within the country, while maintaining affordability and price stability. Overall, a Budget that balances affordability with growth, builds on GST reforms and strengthens domestic manufacturing can reinforce both consumer confidence and business sentiment is the key for driving sustainable growth in FY26," Gunjan Shah, MD & CEO, Bata India said.

“Electronics is a power-lifter sector for India. The next step is policy continuity with deeper support for local value addition and support affordable consumption at home. Simplified tariffs, predictable incentive disbursements and sustained investment in skills, component ecosystems and applied R&D can significantly reduce friction at the factory level and enable long-term planning.  As manufacturers, we are also expecting the government to enhance support to compete more effectively on the global stage, which would strengthen the 'Made in India' brand in international markets," said Saket Gaurav, CMD, Elista

“As we look to the Union Budget, continued focus on infrastructure development, tourism promotion and urban connectivity will have a meaningful multiplier effect on hospitality-led businesses, enabling India to position itself as a global destination for premium culinary and lifestyle experiences. From an industry perspective, rationalisation of GST, clarity on compliance norms and support for skill development will help improve operating efficiencies while strengthening employment generation. Measures that ease access to credit, simplify trade processes and support globally expanding Indian hospitality brands will not only benefit the sector but also contribute to a stronger services-driven economy," said Sanjay Vazirani, Chairman and Managing Director, Foodlink F&B Holdings (India) Limited

"Following the encouraging GST reforms in personal care, we are eager to see policies that incentivize sustainability and simplify the regulatory landscape. The next frontier for India’s beauty and personal care industry lies in rural and Tier-2/3 markets; continued investment in digital infrastructure is the key to unlocking this diverse consumer base. By bolstering disposable incomes, the Budget can fuel the current uptick in consumption and drive a new era of inclusive growth," said Rahul Shanker, Group CEO, Quest Retail and House of Beauty.

"To truly unlock India's economic potential and investor confidence, we need targeted reforms in real estate and the flex sector. The process of registering agreements through online seva should be as seamless as filing GST returns, enabling companies to stay compliant while boosting governance, judicial enforceability, and investor confidence. Equally important is focused budget allocation to upskill blue-collar real estate workers and standardise labour IDs to streamline incentives and compliance," said Aashit Verma, Founder, Hanto Workspace, 

"India’s VDA ecosystem is at a pivotal stage, with growing adoption across the country. However, the current tax framework presents challenges for retail participants by taxing transactions without recognising losses, creating friction rather than fairness. A reduction in TDS on VDA transactions from 1% to 0.01% could improve liquidity, ease compliance, and enhance transparency while preserving transaction traceability. Raising the TDS threshold to ₹5 lakh would help protect small investors from disproportionate impact," said Ashish Singhal, Co-founder, CoinSwitch.

“As Union Budget 2026 comes closer, we are hoping to see more focus on healthcare beyond just hospitals, medicines, and treatment. Today, lifestyle issues, stress, and poor daily habits are affecting health much earlier, so preventive health and wellness should be given more importance.

From our point of view, affordability plays a big role. Many health tech and wellness products are still taxed heavily, which makes people think twice before buying them. If the GST on such products is lower, more families can start using health solutions as a part of daily life, rather than treating them as luxury items. Health tech startups also need stronger support, as this space demands research, testing, and compliance. Simpler regulations, faster approvals, and better access to funding can drive innovation. Budget 2026 has a chance to steer India towards a preventive, wellness-focused, and technology-driven healthcare system where staying healthy becomes a daily habit, not a reaction after falling ill.” Lavanya Shastri, Founder & CEO, Adivaa said.

As India prepares for Union Budget 2026, experts advocate for a National Mission on Early Cancer Detection. Discover how targeted R&D grants, GST reforms, and strengthened PHC screening can shift India from a treatment-centric model to a lifesaving, prevention-first healthcare system.

"As India prepares for the Union Budget 2026–27, early detection must become a central pillar of our national cancer control strategy. Today, nearly 70 per cent of cancers in India are detected at advanced stages, leading to poorer outcomes and significantly higher treatment costs. A dedicated, well-funded National Mission on Early Cancer Detection, implemented through MoHFW, NHM, NPCDCS and state health systems, can help shift the country from a treatment-centric model to a prevention-first framework.

We also hope the Budget strengthens public health capacity at PHCs, CHCs, dental colleges, and community health centres, where frontline screening can make the greatest difference. Incentivising indigenous diagnostic innovation through R&D grants, GST rationalisation, predictable regulatory pathways, and government-enabled pilot programmes will accelerate the availability of affordable, non-invasive screening technologies across India. With targeted support for workplace and community-level screening, particularly among tobacco users, industrial workers, and underserved rural populations, India has the opportunity to reduce its cancer burden dramatically. A Budget that prioritises prevention, innovation, and equitable access will enable earlier diagnosis, improved survival rates, and a more economically sustainable healthcare ecosystem, " Shubhendra Singh, CEO, ErlySign said.