Budget Expectations 2026 Live: GCCs Eye Tier-2, Tier-3 Cities as Policy Vacuum Persists

 Ahead of the FY27 Budget, agriculture industry leaders and experts are making a strong pitch for increased investments in digital infrastructure, climate-resilient farming practices, and technology adoption to transform a sector that employs nearly half the country's workforce but contributes less than a fifth to national output.

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“If the objective is Insurance for All by 2047, regulation must now enable scale. A move to perpetual licensing for insurance brokers, green-channel approvals for routine governance changes, and rationalised brokerage across banca and motor channels aligned with EOM guidelines will materially ease doing business," said Rahul Meena Mishra , Director, Hudson Insurance brokers.

"There is a strong need for policies that support deep tech and B2B SaaS companies, which are solving real operational challenges across sales, customer engagement and enterprise efficiency. Simplified compliance norms, rationalisation of GST on software services and targeted tax benefits for companies investing in indigenous IP will significantly ease scale up journeys," said Tushar Dhawan, Partner at Plus91Labs.

"Budget allocations and initiatives related to the real estate industry, such as affordable housing, housing loan tax, and reduced and refined GST, will accelerate and aid this healthy growth pattern and trajectory," said Pawan Sharma, Managing Director, TRG Group.

“The forthcoming budget should focus on policies that advance digital transformation for consumer brands and retail ecosystems. This will benefit the industry, as AI-powered loyalty platforms, real-time supply-chain traceability, and anti-counterfeiting solutions will receive increased support," said Ayush Jhawar, Founder and CEO of Genefied.

He added that tax incentives, easier access to R&D funding, and regulatory frameworks that support QR-based product authentication should also be given additional incentives to spur growth in both general trade and modern retail.

"The Budget must focus on predictability and relief that restores confidence rather than short-term incentives alone," Bindu Sharma, founder & creative director, Mavitrra said. Continued stability in indirect taxes, coupled with a rationalised GST structure on gold and precious metals, can make handcrafted jewellery more accessible and improve the sector’s export potential, she added.

There is a clear industry call for procedural reforms at customs and duty rationalisation on cut and polished diamonds that support both organised retail and artisan-led craftsmanship. Simplifying compliance and reducing costs will help smaller designers and workshops invest in skill development and design innovation.

“We extend our sincere gratitude to the Government for the strategic tax reliefs provided to the FMCG sector; these measures have been instrumental in driving a visible recovery and fuelling a robust resurgence in consumer demand across the nation," Rajiv Kumar, vice chairman, DS Group said.

The upcoming Union Budget should sustain a consumption-led approach that improves affordability and broadens market access. The industry is seeking targeted manufacturing incentives to strengthen the Make in India programme, including capital subsidies, concessional land to support rural production and demand, and tax relief through input tax credits. To accelerate FMCG growth, companies are also calling for a comprehensive support framework to help Indian firms expand overseas, navigate regulatory complexity, and build a durable global presence.

“For consumers, Budget 2026 should expand homeownership by cutting the hidden costs that quietly get passed on to buyers," Samarth Setia, founder, Rezio.ai said.

Introducing time-bound, single-window clearances and rationalising stamp duties can ease these frictions, while enhanced home-loan interest deductions for first-time and middle-income buyers would help soften EMI pressures.

Faster approvals, clearer regulatory norms, and sustained capital spending on urban infrastructure can open up new growth corridors and make a wider range of locations viable for investment and habitation. Finally, online property advertising warrants tighter oversight.

As India’s start-up ecosystem moves from "design" phase to "execution" phase in 2026, the industry is looking at Budget 2026 to resolve structural bottlenecksstarting with taxation of ESOPs. Founders and investors are closely watching the upcoming Union Budget 2026 for clarity on long-standing ambiguities around Employee Stock Option Plans (ESOPs), which remain a key tool for talent retention and wealth creation in the start-up sector.

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