Madhya Pradesh: The Union Budget 2026 has received mixed reactions from traders, industry representatives and financial experts across the state.
While many welcomed the government’s focus on youth, employment and simplification of tax laws, concerns were raised over the lack of direct relief for small traders and MSMEs.
Siddharth Chaturvedi, Vice Chairman, CII Madhya Pradesh
This budget pays strong emphasis on MSMEs, employment generation, and skill development, and 'We' as the industry welcome this move. Strengthened credit access and enhanced support systems will boost the MSME ecosystem, especially in Madhya Pradesh, where MSMEs form a crucial industrial base.
The announcement of a girls’ hostel in every district further supports inclusive growth. Focus on the orange economy and skilling of AHPs and caregivers will expand opportunities. Additionally, dedicated freight and rail corridors promise improved logistics, fostering smoother trade and wider job creation across sectors.
Aditya Kasliwal, Director of Kasliwal Group
I would say it is a mature budget where the Finance Minister has covered all sectors like health infrastructure, tourism and AI. A small setback for auto industry though, as we were expecting some relief for the entry-level vehicles which could benefit middle and lower class.
The centre's push to 'Khelo India Mission' makes it a good budget for sports, especially keeping in mind 2036 Olympics.
Yogesh Mehta, President of Association of Industries MP
Indore's Yogesh Mehta, President of Association of Industries MP (AIMP) hailed the budget 2026. He said that the finance minister covered all important sectors in the budget, right from Biopharma to semiconductors and rare earth policy. He called it a 'budget for businesses and youths.'
Rajiv Agrawal, President of Mandideep Industries Association
Not a Populist budget, but focused on Manufacturing, SME and growth. From an industry perspective, Budget 2026 is pro-growth and pro-manufacturing. The record ₹12.2 lakh crore infrastructure capex strengthens order pipelines for infra, capital goods, cement, steel and logistics companies. The renewed push for manufacturing, semiconductors, rare earths, electronics and SME funding signals long-term supply-chain resilience and job creation. While it may not be a ‘breakthrough’ budget, it provides policy stability, investment visibility and a strong platform for industrial expansion..
Deepak Sethi, Confederation of All India Traders, Jabalpur
Deepak Sethi, Confederation of All India Traders |
The Divisional President of the Confederation of All India Traders, Deepak Sethi, said the budget has been prepared keeping the common man in mind. He appreciated the focus on agriculture, youth employment and the middle class.
He also welcomed the special package and low-interest, collateral-free loans for MSMEs and small industries.
He said that promoting local products in cities with a population of over 5 lakh will provide a big platform to youth and small entrepreneurs. Cheaper air travel will also help people travelling for education, medical treatment and jobs.
Prem Dubey, Jabalpur Chamber of Commerce
Prem Dubey, Jabalpur Chamber of Commerce |
However, Prem Dubey, President of the Jabalpur Chamber of Commerce, expressed disappointment. He said that although some announcements were made for industry and trade, there are no strong provisions for small retail traders and small industries.
He welcomed the simplification of income tax procedures but said small traders should get direct benefits. He also said the increase in Securities Transaction Tax (STT) on futures and options has led to a fall in the stock market.
He rated the budget 60 percent and said more focus is needed on exports and global markets.
Anil Agrawal, Chartered Accountant
Anil Agrawal, Chartered Accountant |
Chartered Accountant Anil Agrawal welcomed simple income tax and GST rules. He said processes like Lower Tax Deduction Certificates will now become automatic, giving relief to traders.
However, he noted that expectations regarding capital gains tax reduction were not met. He added that the allocation of ₹12 lakh crore for capital expenditure will strengthen the economy in the long run.
Manu Sharad Tiwari, Confederation of All India Traders, Jabalpur
Manu Sharad Tiwari, Confederation of All India Traders |
Manu Sharad Tiwari of the Confederation of All India Traders said the focus on health, education and tourism is positive.
He welcomed initiatives like girls’ hostels and district-level schemes but said concrete steps for the MSME sector are still missing.
He added that the real impact of the new income tax law, proposed to be implemented from April 1, 2026, will be clear only after its detailed framework is released.
Abhishek Dhyani, Tax Advocate
Tax advocate Abhishek Dhyani said the intention to simplify income tax laws is good, but implementation remains a challenge, as seen earlier with GST.
He said the ₹12 lakh crore capital expenditure package will boost the economy, but its benefits must reach traders effectively.
He also raised concerns about rising national debt and market instability due to the increase in STT, though he expects markets to stabilise in the future.
Prachi Namdev, Women’s Wing of the Jabalpur Chamber of Commerce
Prachi Namdev, Women’s Wing of the Jabalpur Chamber of Commerce |
Prachi Namdev from the Women’s Wing of the Jabalpur Chamber of Commerce and Industries said that while some changes and concessions have been announced, there is no major reform in tax slabs.
She stressed that women and young girls must be encouraged in emerging sectors like Artificial Intelligence.
She said future growth depends on technology and AI. Women entrepreneurs should be supported through modern, technology-driven approaches rather than traditional systems.
