Mumbai: Vedanta Group Chairman Anil Agarwal on Sunday, February 1, welcomed the Union Budget 2026 presented by Finance Minister Nirmala Sitharaman, calling it 'growth-oriented', with a clear focus on increasing public capital expenditure and boosting manufacturing.
Taking to the official handle on X (formerly Twitter), he added that the budget creates new opportunities for young people, supports women in becoming financially independent, and encourages employment-intensive sectors such as medical tourism.
Moreover, the Vedanta Group Chairman also welcomed the government’s focus on critical minerals and rare earths. According to him, the proposed Rare Earths Corridors across Odisha, Tamil Nadu, Andhra Pradesh and Kerala will strengthen mineral security while generating growth and employment.
"Import duty exemption on capital goods for critical minerals processing is very timely in the current global scenario. The announcement on flexibility in SEZs, which will permit some sales in the domestic market, is an excellent move," he added.
Meanwhile, the FM delivered a 1-hour and 25-minute-long (85-minute) speech, marking the first time the Budget was presented from Kartavya Bhavan. Beginning at 11 am in Parliament, Sitharaman defined the government’s fiscal priorities, reform agenda and long-term growth strategy amid global economic uncertainty.
The Budget continued the government’s strong infrastructure push, with capital expenditure raised to Rs 12.2 lakh crore, alongside new initiatives in high-speed rail corridors, inland waterways, and private infrastructure financing.
However, FM Sitharaman avoided major populist tax announcements, keeping income tax slabs unchanged, while announcing compliance simplification through the new Income Tax Act, 2025, set to take effect from April 2026.
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