CII Jharkhand Live Union Budget Viewing Session 2026-27
Recognising the Budget as a key policy instrument shaping the country’s growth trajectory, investment climate and industrial competitiveness, the Confederation of Indian Industry (CII) organised a Live Union Budget 2026 Viewing Session with senior industry leaders in Jamshedpur today. The Union Budget 2026–27 assumes critical importance at a time when India is navigating global economic uncertainties while advancing towards its vision of becoming one of the world’s leading economies.
The Union Budget 2026–27 is a forward-looking and confidence-building Budget that reflects the Government’s strong commitment to next generation reforms, sustaining high economic growth while maintaining macroeconomic stability. At a time of heightened global uncertainty, the Budget sends a reassuring signal of continuity, credibility, confidence and long-term vision for India’s development journey.
CII welcomes the Government’s continued focus on fiscal prudence alongside growth support. The fiscal deficit target of 4.3 percent of GDP for FY27 is well aligned with the glide path recommended by CII and reinforces confidence in India’s macroeconomic management. There is broad recognition on fiscal discipline, including adherence to the debt-to-GDP glide path to reach 50% of GDP by FY31— balanced with flexible policy calibrated to economic realities.
Mr Sunil Tiwari, Chairman, CII Jharkhand State Council said that CII Jharkhand welcomes the Union Budget 2026, which addresses several long-standing concerns of industry, particularly MSMEs. The Budget reflects a balanced approach with renewed emphasis on the services sector, alongside measures aimed at tax simplification and ease of compliance. The 10–12 per cent increase in capital expenditure is a positive signal, reinforcing commitment to infrastructure-led growth and investment momentum, which will significantly benefit industrial development in states like Jharkhand. He appreciated government’s effort to maintain balance by prioritising education, healthcare and infrastructure, calling it a sound long term growth strategy.
Mr Diloo Parikh, Vice Chairman, CII Jharkhand State Council highlighted that the Budget reflects continuity and stability in policymaking. The emphasis on ease of doing business and trust-based governance is a positive feature of the Budget. The move towards risk-based customs clearance, greater digitisation, reduced compliance burden and enhanced regulatory certainty will improve India’s investment climate and support faster execution of projects. The proposed High-Level Committee on Banking for Viksit Bharat is a timely initiative to ensure the financial sector is well prepared to meet the funding needs of a rapidly growing economy. The Budget also places strong emphasis on employment generation and human capital development. Initiatives covering education, skilling, healthcare, tourism, creative industries and services will help create quality jobs across the economy. The focus on university townships, skill-linked education, healthcare infrastructure, and emerging sectors such as AVGC and medical tourism reflects a long-term vision for building a future-ready workforce.
Mr Vikash Mittal, Convenor, CII Jharkhand Economic Affairs, Finance & Taxation Panel noted that the Union Budget 2026 has placed strong emphasis on semiconductors and healthcare, both of which are critical to India’s long-term industrial and social infrastructure. He highlighted that the allocation of ₹2,000 crore for MSMEs reflects the government’s intent to strengthen India’s MSME ecosystem, though greater targeted support for startups would have been desirable. Emphasising India’s aspiration to emerge as one of the world’s top three economies, he observed that the finance minister has consciously maintained a balanced approach across sectors. The focus on mineral development and green transition initiatives was seen as a key takeaway, with the Budget also holding strong potential to generate employment and support sustainable economic growth in the coming years.
Mr Arun Prakash, Past Convenor, CII Jharkhand Economic Affairs, Finance & Taxation Panel lauded the customs duty rationalisation and long-term incentives for data centres, describing them as aligned with India’s vision for India@2047. He noted that the continued emphasis on capital expenditure would have a positive multiplier effect on GDP and industrial growth. He also pointed out that while CapEx-led growth is encouraging, the Budget remained relatively silent on renewables, which could have been addressed more comprehensively given India’s energy transition goals.
Mr Arun A Gaur, Co-Convenor, CII Jharkhand Economic Affairs, Finance & Taxation Panel said The Union Budget 2026-27 focused on growth, infrastructure, and urban development, providing a positive backdrop for real estate and hospitality sectors. It proposed the establishment of dedicated REITs to recycle public sector real estate assets and improve liquidity in the property market, along with an Infrastructure Risk Guarantee Fund to support developers and lenders by reducing financing risk. Increased capital expenditure of ₹12.2 lakh crore on infrastructure is expected to boost demand for housing and commercial real estate across major cities and emerging urban centres. The Budget continued emphasis on affordable housing and urban reforms, which should strengthen buyer confidence and stimulate construction activity. For the hospitality and tourism industry, the government proposed initiatives such as setting up a National Institute of Hospitality to enhance skills and professional capacity, and schemes to promote tourism infrastructure and regional travel demand. Measures to develop medical tourism hubs and support tourist guide training were also announced, expected to drive hotel occupancy and investment.
Mr Rajjeev Shukla, Co Convenor, CII Jharkhand MSME Panel welcomed the Union Budget’s strong emphasis on MSMEs. He described the ₹10,000 crore allocation for SMEs as a timely and impactful measure that would significantly enhance liquidity and improve access to credit. Highlighting the critical role of trade finance, he noted that such provisions would support MSME growth, scale-up and capacity expansion. Mr Shukla also appreciated the allocations under the ANRF scheme, observing that improved access to research funding for MSMEs would foster innovation and technology adoption. He emphasised the need to further strengthen industry–academia collaboration, undertake a review of legacy industrial clusters, and carefully assess the implications of GST 2.0 on MSMEs. Overall, he stated that the Budget reinforces a positive economic momentum with a clear focus on liquidity creation, capacity building and professional support for the MSME ecosystem.
Mr Saikat Ghosh, Member, CII Jharkhand said this budget aims to address credit gaps, improve cash flows, and foster growth, particularly relevant for manufacturing industries. Funding Boosts of Rs 10,000 crore SME Growth Fund targets high-potential MSMEs for scaling via equity support, rewarding productivity and export readiness specially during these tough times and geopolitics. The Self-Reliant India Fund receives a Rs 2,000–4,000 crore top-up to aid micro-enterprises along with infra development in tier 2 and 3 will help in market access. These funds could practically enable equipment upgrades or import substitution in varied sectors. Liquidity Enhancements such as TReDS integration with GeM mandates faster invoice discounting for MSME suppliers to government buyers, unlocking over Rs 7 lakh crore in receivables as tradable securities thus helping MSME to venture into PSU and defence sectors. Revival of 200 legacy clusters modernizes outdated hubs, potentially benefiting Jharkhand’s and other states industrial zones. Expanded MSME classification limits and ‘corporate mitras’ in Tier-II/III cities ease compliance costs for GST, bidding, and formalization. These will directly tackle cash crunches and growth barriers in supply chains, aiding firms with better quotations, imports, and customers both domestic and international.
The CII Jharkhand Live Budget Viewing Session concluded on a constructive and forward-looking note, with industry leaders acknowledging the Union Budget 2026–27 as a balanced and pragmatic roadmap that supports growth, inclusion and long-term competitiveness, while also identifying areas for future policy focus.
Overall, the Union Budget 2026–27 strikes a fine balance between fiscal discipline, growth-oriented public investment, structural reforms and employment generation. It reinforces India’s position as one of the world’s most attractive investment destinations and provides a strong platform for industry to partner with Government in advancing the vision of a Viksit Bharat. CII looks forward to working closely with all stakeholders to support effective implementation and accelerate India’s growth momentum.
Jamshedpur/Ranchi (Jharkhand)
01 February 2026