Bhopal (Madhya Pradesh): The Union Budget for 2026-2027 should be growth-oriented and focus on development, say experts in the city. Free Press asked two experts about their expectations from Union Budget to be presented in Lok Sabha on February 1.
Booster package for SMEs
Aditya Manya Jain, chairman, Kalpataru Multiplier Limited, Bhopal said, "The budget should be growth-oriented. The tariff war launched by the USA against India has had a detrimental effect on the industrial sector. Hence domestic industries, particularly small and medium enterprises, need a booster package. Also, some concessions should be offered to food processing industry by dividing the country into different zones based on the predominant agriculture produce. The GST regime, too, needs some tinkering. It is important that people should have cash in their pockets. That is the only way the economy can grow. Also, Securities Transaction Tax should be scrapped."
Focus on infra
Rajesh Jain, chartered accountant said, "If India has to become a developed nation by 2047, we need to work consistently on improving interstate and inter-sectoral infrastructure. That should be the focus of the budget. Freebies are a big drain on our exchequer. We need to develop a mechanism which, while fulfilling the needs of the needy, ensures that precious resources are not wasted. The wastage of money in government departments should be stopped. The government came out with a new Income Tax Act last year and there is little scope for major changes in the I-T structure. At the most, the exemption limit may be raised from Rs 4 lakh to Rs 5 lakh."
