Budget expectation Highlights: FM Sitharaman to present her 9th budget on Feb 1. Here’s what India Inc wants

Dr Sudarshan Ballal, Chairman, Manipal Hospitals said: "In general a viable universal health insurance not necessarily health care alone. Incentivise semi urban rural health care workers including doctors. Use AI , technology to bridge and compliment health care services esp in rural areas. More investments in primary and preventive care to include antenatal care ,vaccinations and nutrition of children. Create awareness and measures to prevent communicable diseases like respiratory illnesses, vector borne diseases and gastrointestinal infections.

Create awareness about the increasing burden of non communicable diseases and preventive measures to control life style illnesses. Since cancer is growing in leaps and bounds invest in creating awareness , prevention, surveillance, early detection and care of these patients. Have more centres in each district for intensive care and super specialty care. Continue the programs to increase undergraduate and postgraduate trainees in the country."

Sonali Chowdhry, CEO-OfficeNet said: "As India’s digital economy matures, Budget 2026 is a critical opportunity to strengthen the foundation for scalable, innovation-led growth. The software and technology sector would benefit from sharper R&D-linked incentives that encourage the development of homegrown AI and deep-tech solutions, particularly those that enhance enterprise productivity, compliance, and decision-making. Targeted R&D tax credits and structured innovation incentives can nudge companies to build and scale domestic platforms rather than rely on imported technologies.

Equally important is sustained government support for large-scale reskilling and talent development, ensuring the workforce remains future-ready as AI adoption accelerates across enterprises. Encouraging the adoption of foundational enterprise tools such as HRMS for core operational functions can help MSMEs and mid-sized organizations scale efficiently and compliantly. Together, these measures can accelerate digital adoption while positioning India as a global hub for sustainable, innovation-driven software growth.”

Manish Mohnot, Managing Director & CEO Kalpataru Projects International Limited said: "The EPC sector continues to be a key enabler of nation building, with sustained government investments driving tangible improvements in infrastructure outcomes across the country. We expect continued focus on large-scale infrastructure, with higher allocations for urban development in Tier 2 and Tier 3 cities, which are emerging as key growth drivers. Beyond core public works, focused investments in integrated industrial ecosystems will be critical to attract global enterprises and support large-scale manufacturing and infrastructure development.

Export-focused support such as stronger credit and risk guarantees will encourage Indian EPC companies in scaling overseas projects and competing globally. On the energy front, higher allocations for power transmission and distribution are essential to strengthen the national grid, ease congestion, and enable greater integration of renewable energy in line with India’s carbon neutrality goals. Continued grid modernisation and policy support for international expansion of Indian EPC companies will enhance global competitiveness and support long-term, sustainable growth."

Vinit Bediya, Chairman and Managing Director, Silver Consumer Electricals Limited said: "With India accelerating its renewable energy and energy-transition goals, the Union Budget 2026 should continue to support domestic manufacturing across solar PV modules, power electronics, motors, pumps and lighting solutions. Policy stability through consistent PLI frameworks, rationalisation of customs duties on critical raw materials, and incentives for backward integration, including components and upstream technologies, will be essential to reducing import dependence, strengthening supply-chain resilience, and building globally competitive manufacturing ecosystems.

Such measures can enhance cost efficiency, encourage long-term capacity creation and enable organised MSMEs to invest in technology, automation and localisation. A well-aligned policy framework that supports energy efficiency, clean manufacturing and skill development will help advance the objectives of Make in India and Atmanirbhar Bharat, while accelerating India’s transition towards a resilient, self-reliant and innovation-led manufacturing economy."

Shashi Kant Singh , Partner—Agriculture, Food and Agribusiness, PwC India said: "Given the importance of the agriculture and food sector in the country's food security and livelihood, the expectations from this year's budget are enhanced outlays for the sector to sustain the government's aspirations towards self-sufficiency and position India as a global agricultural powerhouse.

Research and development (high yielding and climate resilient varieties), infrastructure (production, storage and processing), digital agricultural solutions (ag stack and AgTech) and exports (quality and higher value capture) should be the key focus areas for the upcoming budget.

We expect continued support towards farmer aggregation models like producer organisations and cooperatives. The budget should also support continuity of structural reforms for long term sustainability, while augmenting income support to the farming community."

Vinod Kumar, Partner and Leader, Manufacturing, PwC India, said: "The upcoming Union Budget represents a pivotal opportunity to address critical expectations that could decisively empower the manufacturing sector. By implementing pragmatic reforms across labour regulations, AI and automation skill development, financing, infrastructure, core technologies, and R&D, India could solidify its standing as a global manufacturing powerhouse. These measures promise not only to enhance industrial productivity but also to encourage sustainable economic growth, advancing India’s aspiration to become a leading manufacturing hub on the world stage."

Dr. Mohit Ramsinghani CXO Real Estate said: "The upcoming Budget offers an opportunity to accelerate luxury real estate growth by strengthening infrastructure in high-potential regions such as NAINA Phase 3. Prioritising last-mile connectivity to the Navi Mumbai International Airport, fast-tracking metro and expressway linkages, and developing social infrastructure like business districts, green spaces, and lifestyle amenities will be key.

These investments will not only unlock NAINA’s potential as a world-class urban corridor but also decongest Mumbai, enhance regional connectivity, and positively impact demand and value across the Mumbai metropolitan luxury real estate market.”

Tarun Anand, Founder & Chancellor, Universal Ai University said: "India’s rapid advancement in the AI era places the spotlight on the upcoming Union Budget as a decisive moment for building a future-ready workforce. With over 40% of India’s IT and gig workforce already utilizing AI tools, and India projected to account for the world’s AI talent by 2027, there is clear momentum; yet, significant gaps remain.

Although the employability of the workforce has improved, some part of the young workforce possesses deep AI skills, and many companies complain about the difficulties in hiring the right people. The provision of more funds for AI workforce training programs, along with the National Education Policy's emphasis on the incorporation of applied AI, data science, and digital technologies into the curriculum, is important.

We anticipate policies that foster close cooperation between the industry and the universities, provide incentives for certifying the basic knowledge gained through practical training, and allow more students to have access to hands-on labs and internships. Not only will these measures lift the entry-level skills of the labor force, but they will also make it certain that the young population of India is capable of turning to the global market as the main supplier of leaders in the coming years."

Hemant Sapra, President, Global Sales & Marketing, KARAM Safety, said: "As India progresses toward its vision of a $5 trillion economy and a global manufacturing hub, the Union Budget 2026 presents a pivotal opportunity to strengthen the industrial workforce that anchors this growth. At KARAM Safety, we believe that ‘Make in India’ must inherently mean ‘Safe in India.’

We expect the upcoming budget to prioritize the integration of safety standards within the flourishing infrastructure and manufacturing sectors. A key expectation is the rationalization of GST on life-saving industrial safety equipment. Currently, certain critical Personal Protective Equipment (PPE) remains in higher tax brackets. Aligning these to a uniform 5% GST would not only lower operational costs for MSMEs but also encourage the nationwide adoption of high-quality, certified safety gear.

Furthermore, we look forward to policies that specifically incentivize the depth of local value addition. The Indian safety industry has already demonstrated remarkable resilience by building deep-rooted, domestic supply chains that minimize external dependencies. A dedicated framework, similar to the PLI schemes in other sectors, would reward this commitment to vertical integration. By supporting the entire manufacturing ecosystem—from precision engineering to the finished product—the government can provide the necessary impetus for Indian safety brands to dominate the global market.

Lastly, as the government continues its record-breaking capital expenditure on railways, highways, and green energy, we advocate for stricter budgetary allocations for safety training and audits in public-private partnership (PPP) projects. By incentivizing ‘Zero Harm’ workplaces through tax benefits or weighted deductions, the government can ensure that India's infrastructure leap is built on a foundation of uncompromising safety and dignity for every worker."