Page 28 - Budget 2026

Budget 2026-27: CII wants Centre to fast-track PSE privatisation

Ahead of the Union Budget 2026-27, CII has urged the Centre to adopt a demand-based, three-year privatisation pipeline for public sector enterprises to unlock nearly Rs 10 trillion of value

Budget 2026: Experts ask govt to not up income tax surcharge on super rich

The government should refrain from raising income tax surcharge on the super-rich and reintroducing wealth tax in the upcoming 2026-27 Budget, as the move could prompt persons in high-income brackets to leave the country for low-tax jurisdictions, according to tax experts. Currently, a surcharge on income tax is payable by high-income individuals with earnings above Rs 50 lakh. A 10 per cent surcharge is levied on income between Rs 50 lakh and Rs 1 crore, 15 per cent (Rs 1-2 crore), and 25 per cent (Rs 2-5 crore). Those earning above Rs 5 crore and are in the new income tax regime pay a 25 per cent surcharge, while those under the old tax regime pay a surcharge at a 37 per cent rate. According to estimates by independent economists, the GST rate cut and lower income tax collections are likely to cost the exchequer around Rs 2 lakh crore in the current fiscal. Any additional source of revenue in FY27 could help the government in additional allocations towards defence and other ...

Micro fertiliser industry seeks uniform 5% GST ahead of upcoming Budget

The Indian Micro-Fertilizers Manufacturers Association has urged the Centre to extend the 5 per cent GST across all fertilisers notified under the Fertiliser Control Order, expedite refunds of excess GST credits, and implement a unified licensing system ahead of the Union Budget. While acknowledging GST 2.0 as a "landmark reform" for the sector, particularly the reduction in GST from 12 per cent to 5 per cent on Schedule 1G items and their mixtures, the industry body said manufacturers are now facing an inverted duty structure on certain inputs where raw materials and services attract higher GST than finished products. "This results in accumulation of excess input tax credit, locking up working capital for manufacturers," said Rahul Mirchandani, president of the association and chairman of Aries Agro Limited. The association has called for a "clear and time-bound mechanism" for quick refund of excess GST credits, especially for sectors operating under price-sensitive and regulated .

Pre-Budget meet: States push for equitable funds, higher deficit limits

Chief Minister Pramod Sawant has sought a more equitable Centre-state funding pattern under centrally sponsored schemes, taking into account Goa's coastal challenges, Western Ghats ecology, and national tourism responsibilities. Sawant attended the pre-budget Meeting for the Union Budget 2026-27, chaired by Union Finance Minister Nirmala Sitharaman, in New Delhi on Saturday. Finance ministers of various states and Union Territories and other senior officials participated in the meeting. Later, Sawant, in a statement, said the meeting involved detailed deliberations on key provisions and priorities for the upcoming Union Budget. "Goa's perspectives, demands, and developmental requirements were presented, with a focus on sustaining momentum in critical infrastructure projects," he said. The CM said Goa also sought to strengthen social welfare schemes, ensuring continued support for capital investment, carrying forward state-specific Finance Commission recommendations, and seeking a .

Budget: Tax experts seek clarity on employment deductions available to biz

Ahead of Budget FY27, tax experts seek clarity on Section 80JJAA as ambiguities over employee cost deductions trigger scrutiny and risk disputes for companies

Budget: Oil & gas sector seeks GST relief, LPG under-recovery compensation

The upstream sector wants a reduction in cess on crude oil, restoration of tax holidays for new blocks and exemption of exploration activities from GST

Budget 2026: Infra sector wants regulatory easing, higher capital outlay

ICRA sees 5% growth in rail budget

Budget 2026-27: Health sector seeks tax relief, rationalised rates

Ahead of Budget 2026-27, healthcare, medtech and pharma firms seek tax relief, higher R&D incentives and stronger support for preventive care and domestic manufacturing

FY27 fiscal deficit likely to overshoot target to touch 4.6%: BMI

BMI said fresh spending needs and lower tax receipts could push the deficit higher even if the government sets a 4.3 per cent fiscal deficit target in the 2026-27 Budget

Assocham seeks incentives for hydrogen-based steelmaking in FY27 Budget

Ahead of the Budget, Industry body Assocham has urged the government to provide incentives for hydrogen-based direct reduced iron (DRI) and concessional green finance to help the steel sector transition to low-carbon production. Finance Minister Nirmala Sitharaman is expected to table the Union Budget for the Financial Year 2026-27 in Parliament on February 1, 2025. In its pre-Budget recommendations for the domestic steel sector, the chamber also suggested incentives for waste-heat recovery systems and the establishment of renewable captive power plants to curb emissions. The industry body noted that decarbonisation presents both a challenge and a competitive opportunity, asserting that these measures can accelerate sustainable production. Assocham further pitched for incentivising scrap collection and recycling, noting that strengthening domestic recycling infrastructure through skilling is essential to reduce the country's dependence on imports. Highlighting the challenges, Asso

FY27 Budget presentation likely on Feb 1, Economic Survey on Jan 29

February 1 is also coinciding with Guru Ravidas birth anniversary, which is a government holiday in some states in remembrance of the 15th-century saint and social reformer

Fiscal deficit target in reach despite lower nominal GDP growth estimate

The Budget estimates for this year had assumed a nominal GDP growth of 10.1 per cent

Budget 2026 must aim to fix the weak link in India's R&D ecosystem

Restoring weighted tax deductions and adopting a petty patents regime can foster firm-level innovative activity critical for competitiveness

India's 7.4% GDP growth looks solid but faces a narrower margin for error

In absolute terms at current prices, the economy is projected to attain the size of ₹357.14 trillion, which is marginally higher than the level assumed in the 2025-26 Budget

BEL, HAL, GRSE among 5 defence stocks to buy ahead of Budget 2026: Analysts

Defence related stocks have rallied up to 5% this year. Sachin Gupta of Choice Broking believes that there is pre-Budget optimism, and projects up to 12% upside in 5 shares based on technical charts.

Budget 2026: Rice exporters seek tax relief, credit and freight support

The Indian Rice Exporter's Federation has urged the Centre to provide a 4% interest subvention on export credit, 3% road and rail freight support, and ensure timely disbursal of duty remission schemes

AIF industry seeks tax parity for private credit funds in Budget

India's AIF industry urges tax parity for private credit funds and clearer rules for Category III AIFs in the upcoming Union Budget to ensure fair treatment and reduce disputes

Govt may relax transfer-pricing regime, make eligibility rules flexible

Move aimed at making safe-harbour rules more attractive and practical