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The Federation of Industry & Commerce of North Eastern Region (FINER) has expressed its satisfaction with the Union Budget 2026-27, describing it as a well-balanced, growth-oriented budget that addresses the needs of industry while maintaining fiscal discipline.
FINER has particularly welcomed the government's persistence on reform over rhetoric, and its maintaining fiscal discipline as bedrock. The glide path of fiscal consolidation has been maintained as targeted. In a press release, FINER said that the government has balanced fiscal consolidation with the highest-ever capital expenditure of Rs 12.2 lakh crore, which is commendable. "The measures in the budget will provide a strong impetus to infrastructure creation, investment, and job generation. The focus on MSMEs, including the creation of Champion SMEs and the proposed Rs 10,000 crore SME Growth Fund, is expected to improve access to finance and strengthen the backbone of the economy," said the press release. It further stated that the Budget's emphasis on manufacturing and technology, through initiatives such as three dedicated Chemical Parks, expansion of the Semiconductor Mission (ISM 2.0), establishment of Hi-Tech Tool Rooms, and duty exemptions for lithium-ion cell manufacturing, will enhance domestic manufacturing capabilities and promote import substitution. FINER also appreciated the continued support for textiles, handloom, handicrafts, and khadi, along with targeted skilling initiatives such as Samarth 2.0, which will boost employment, particularly in rural and semi-urban areas. "Measures to strengthen tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages are expected to support balanced regional development. From a macro-economic perspective, FINER welcomed the government's commitment to fiscal consolidation, declining debt-to-GDP ratio, and improved compliance through rationalisation of TCS rates, extension of timelines for income tax return revisions, and other tax reforms," said in the press statement. Overall, FINER believes that the Union Budget 2026-27 provides a positive and enabling policy environment for industries across sectors and regions, including the North Eastern Region, and will contribute significantly to inclusive and sustainable economic growth. (ANI)
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