Asif Iqbal Naik
• Big push to infrastructure: Capital expenditure raised to ₹12.2 lakh crore for FY 2026–27 to sustain growth momentum, along with a new Infrastructure Risk Guarantee Fund to encourage private investment
• Manufacturing boost across strategic sectors: Major focus on biopharma, semiconductors, electronics, rare earths, chemicals, textiles and capital goods. A ₹10,000 crore Biopharma SHAKTI programme and India Semiconductor Mission 2.0 were announced to strengthen domestic production and supply chains
• Strong support for MSMEs: Creation of a ₹10,000 crore SME Growth Fund, additional capital for Self-Reliant India Fund, wider use of TReDS for liquidity, and professional help through “Corporate Mitras” to reduce compliance burden
• Seven High-Speed Rail corridors announced, along with new Dedicated Freight Corridors and 20 National Waterways over five years to cut logistics costs and improve connectivity
• City Economic Regions: Focus on Tier-II and Tier-III cities with ₹5,000 crore per region over five years to drive localized economic growth
• Jobs and skills drive: High-powered Education to Employment and Enterprise Committee, expansion of allied health professionals, caregivers, AVGC talent, tourism skilling, and launch of Khelo India Mission for sports ecosystem development
• Farmers & rural economy: New initiatives in fisheries, animal husbandry and high-value crops; Coconut Promotion Scheme; dedicated programmes for cashew, cocoa, sandalwood and dry fruits; launch of Bharat-VISTAAR, an AI-based advisory platform for farmers
• Social sector focus: New mental health institute (NIMHANS-2), stronger trauma care in district hospitals, schemes for Divyangjan skilling and assistive devices, and special development packages for Purvodaya states and North-East including Buddhist circuits
• Fiscal consolidation continues: Fiscal deficit pegged at 4.3% of GDP for FY 2026–27; total expenditure estimated at ₹53.5 lakh crore, with net tax receipts at ₹28.7 lakh crore
• Taxpayer-friendly reforms: New Income Tax Act effective from April 1, 2026; simpler forms, lower TCS on foreign travel/education/medical needs, MACT interest made tax-free, extended timelines for revised returns, and reduced compliance for small taxpayers
• Boost to investment & exports: Tax holidays for foreign cloud companies using Indian data centres, incentives for electronics manufacturing, customs duty relief on critical medicines, aircraft parts, lithium-ion battery inputs and nuclear projects
