Union Budget 2026: Focus on Tourism, Textiles, and Education

“I propose to launch the Mahatma Gandhi Gram Swaraj initiative to strengthen khadi, handloom and handicrafts. This will help in global market linkage and branding. It will streamline and support training, skilling, quality of process and production”

“We followed an approach that allows the Centre to address region-specific economic needs while keeping the Budget aligned with a pan-India framework and avoiding state-specific allocations during an election cycle.”

“The high level committee is going to look into it. Terms of Reference (ToR) of the committee will be prepared. We are looking for the committee to go into the entire expanse of the banking sector so that they come up with recommendations that help us to plan for banking for 2047. By the time we become Viksit Bharat we need to understand what other steps we need to take in the banking area and based on those recommendations we will move forward. There are a large number of aspects related to banking requirements and expansion of the banking network and procedures that are impeding deposits as well as credit. All these aspects will be looked at by the committee.”

“The primary objective of raising the STT is that it is felt that if you look at the volume of transactions in F&O, whether you compare with the size of the GDP or size of the underlying securities market. It is largely in the realm of speculation which results in losses to small and unsophisticated investors. The government’s intention is to discourage speculation tendencies. The increase in rate essentially is in this direction.”

“The first version, we wanted to get the marquee investments and wanted to create that jumpstart. The second version will focus on equipment manufacturing and design in our country... We must focus on making sure that the chips required for the strategic sectors are all designed and manufactured in India.”

“Today, the world looks at India as an economy which is the bright spot among the entire globally turbulent world... everybody wants to be a partner with India.”

“The provisions for the development of cities with a population of more than five lakh, spending Rs 5,000 crore over five years on all urban economic zones, developing pilgrimage sites in smaller cities, constructing one women’s hostel in every district, and upgrading district hospitals will greatly benefit the state.”

“Prime Minister Narendra Modi has given Madhya Pradesh a major boost in the textile sector in the form of a PM MITRA Park, adding that this will create employment opportunities for three lakh people and benefit six lakh farmers.”

“"The recent Union Budget has focused heavily on health and AI when it comes to education. There will be new institutes for pharmacy, mental health, and Ayurveda. Similarly, there is emphasis on AI-enabled education and on skilling in sports, tourism, and for Divyangjan. A National Institute of Hospitality will be created. The government is also going to set up five university townships to support major industrial centres. Another significant initiative is the proposed support for the Indian Institute of Creative Technologies to set up AV, gaming and creative content labs in 15,000 secondary schools and 500 colleges. Investment is also being provided in astronomy-related research."”

“"These are all significant steps, but one does feel that more could have been done to encourage research and education in areas of AI, sustainability, space, deep tech and related technologies in the education sector. This is a crucial time for the Indian science and technology sector. It is important that universities get strong support from the government for their research in areas such as AI, computer hardware, quantum computing, robotics, space, defence, drones and related fields. Similarly, sustainability-related research is also highly relevant today. The current support is welcome, but more can be done if Indian universities and industry are to compete globally."”

“The National Fibre Scheme is a significant step towards self-reliance across natural fibres such as silk, wool and jute, man-made fibres and new-age fibres. This integrated approach will help India build a robust raw material base and reduce import dependence while supporting innovation.”

“The launch of Samarth 2.0 to modernise and upgrade the textile skilling ecosystem through collaboration with industry and academic institutions will help bridge skill gaps and promote employment especially for youth and women.”

“Competitiveness in textiles begins with raw material security and competitive pricing. The Budget’s proposal for a National Fibre Mission, covering the full fibre spectrum, will ensure supply stability, price competitiveness, and stronger global positioning of finished textile and apparel products.”

“The Budget’s push for technology upgrades in clusters and mission-mode Mega Textile Parks will enable faster scaling, higher productivity, and globally competitive supply chains.”

“The Centre had already allocated ₹5,900 crores under 'Mission for Cotton Productivity' that covers new age fibres.”

“National Fibre Scheme will strengthen availability of raw materials including man-made fibres and new age fibres.”

“With wide-ranging reforms across sectors and a focus on manufacturing, including a boost to creating Champion MSMEs, and infrastructure reflects an understanding that scale and resilience are built through stable policy and institutional support.”

“The proposal to establish dedicated Rare Earth Corridors across mineral-rich states is a timely step towards securing critical materials, strengthening domestic value chains, and reducing strategic dependencies.”

“Eri silk of Assam and Meghalaya are being increasingly used by a lot of brands and even designers. But they do not attribute it to Assam, which means the weavers do not really get the business. Also there has never been a standardisation of fabric per metre of these handloom fabrics. So there’s a divide between those who have jacked-up prices in a way that most people cannot afford and those weavers who barely earn a living”

“The announcement of seven high-speed rail corridors as ‘growth connectors’, along with a new Dedicated Freight Corridor between Dankuni and Surat, will significantly enhance passenger mobility, freight efficiency and regional economic integration.”

“The Budget places manufacturing at the heart of India’s energy transition.”

“Exemptions for batteries, energy storage systems, critical minerals and nuclear infrastructure will accelerate domestic value addition and reinforce India’s ambition to 'Make in India for the World'.”

“"The Union Budget 2026–27, through the launch of the Biopharma SHAKTI Mission with a ₹10,000-crore, five-year outlay, marks a transformative step for India’s pharmaceutical and biopharma ecosystem. The focus on biologics and biosimilars, establishment of three new NIPERs, and upgradation of seven existing institutes will significantly strengthen academic capacity, advanced research, and industry-ready talent development. The creation of over 1,000 accredited clinical trial sites and the strengthening of CDSCO with a dedicated scientific review cadre will further enhance India’s global credibility in research and regulatory excellence. Together, these reforms signal a decisive shift from generic-led manufacturing to innovation-driven, high-value pharmaceutical production, empowering academia to play a central role in India’s journey towards a Viksit Bharat and global pharmaceutical leadership."”

“We congratulate Finance Minister Nirmala Sitharaman on presenting the Union Budget for a record ninth time. The budget reflects a balanced and pragmatic approach, especially in the backdrop of global economic uncertainties arising from geopolitical tensions and trade disruptions. The government’s emphasis on fiscal consolidation and structural reforms is encouraging.”

“The decision to facilitate all CPSE purchases from MSMEs through TReDS will significantly improve liquidity and timely payments. Continued infrastructure development in Tier-2 and Tier-3 cities will boost regional economic activity. The rare-earth corridor announced for Andhra Pradesh will further strengthen the State’s industrial ecosystem.”

“The move would help improve margins by 2-3 per cent for high leather exports, which have a 10-12 per cent import component.”

“The intervention is welcome but not adequate for the seafood sector, where imports are not a major cost component.”

“The Rs 10,000 crore MSME Growth Fund and the introduction of the National Fibre Scheme were 'strong steps towards boosting manufacturing.' The fibre scheme would improve domestic availability of natural and man-made fibres, enhance competitiveness of the labour-intensive hosiery sector and support sustainable growth and employment generation.”

“The National Fibre Scheme is significant in strengthening self-reliance across natural, man-made and new-age fibres, while mitigating supply-chain vulnerabilities amid global disruptions.”

“Overall, the budget creates a stable and forward-looking environment for technology-driven rail infrastructure companies focused on safety, reliability and indigenisation.”

“This unprecedented investment reinforces railways as the backbone of India’s long-term mobility and logistics strategy.”

“Even if we push for Khadi and handloom or even if it is articulated in the Budget, not a lot will change behind the scenes. The situation is dire in places like West Bengal and Odisha. In Bengal, there is still the mahajan system in place where some get to own karkhanas and weavers are paid meagre daily wages”

“Celebrities and influencers tend to wear khadi and Indian handlooms for desi events, or for the national awards. But when they attend a global event like the Met Gala or award shows abroad, khadi is not the first or even the fifth choice. One reason is that different silhouettes have not been experimented with khadi. For instance, no one has made a khadi gown that one can wear to a fashion week in Paris or London”

“The current budget announcements are focusing on long-term approaches. We need to find other countries to export to to offset the current situation while working with the USA to rework the tax bracket. Handloom and khadi products are our strengths but currently only account for a tiny portion of the exports (under 5 per cent) and can be our USP if brought into the forefront”

“The funding reflects a realistic approach to emissions reduction without compromising competitiveness.”

“The continued emphasis on enhancing agricultural incomes through higher productivity and value addition is structurally positive for rural and semi-urban demand, creating sustained tailwinds for consumption.”

“This is particularly relevant for mass and mid-priced consumer categories, where spending is closely linked to income visibility. Over time, this shift can help make consumption growth less metro-centric and more broad-based.”

“Sharper focus on tier-2 and tier-3 cities to broaden India’ economic footprint will help drive deeper penetration of branded consumer products by improving access, logistics efficiency and income resilience across Bharat.”

“Union Budget 2026–27 is not designed to stimulate consumption in the short term. Instead, it focuses on shaping the operating environment for retail through fiscal consolidation, infrastructure investment, MSME enablement, skilling, and regional growth. For the retail sector, its impact will be gradual and uneven, driven more by improvements in supply chains, workforce readiness, and rural and non-metro demand than by direct policy support.”