Whalesbook
Shifting from Intent to Action
Industry leaders are calling for a decisive shift in the Union Budget 2026, moving beyond policy pronouncements to tangible execution and cost management. This demand stems from persistent challenges that threaten India's growth momentum, including escalating input costs and a volatile global economic climate.
Infrastructure and Real Estate Priorities
The infrastructure and real estate sectors, vital for job creation, are particularly vocal. Developers point to rising steel, cement, and aluminium prices, alongside protracted land acquisition and approval processes. They seek GST rationalization on construction materials, incentives for domestic input manufacturing, and accelerated funding for land acquisition and clearances. Strengthening mechanisms like the Urban Challenge Fund and SWAMIH is also a priority to revive stalled projects.
Critical Minerals and Supply Chains
For the strategically important mining and critical minerals sector, the focus is on execution certainty. Stakeholders are urging faster land and forest approvals, alongside the ability to extract and sell associated minerals without added fiscal burdens. Improved access to geological data and rationalized import duties are also sought to bolster supply chain resilience, especially for clean energy and advanced manufacturing.
Financial Sector Support
Non-banking financial companies (NBFCs) are positioned as key growth enablers, particularly for MSMEs. They are requesting continued support for liquidity and long-term capital availability, coupled with simplified compliance and incentives for digital lending. The aim is to deepen credit penetration and foster entrepreneurship in semi-urban and underserved regions.
Energy Transition Boost
With ambitious renewable energy targets, the solar manufacturing ecosystem is demanding enhanced Production Linked Incentive (PLI) schemes. Focus areas include upstream manufacturing of polysilicon, ingots, and wafers. Accelerated depreciation, preferential lending, and lower corporate tax rates are also on the agenda to improve capital efficiency and attract long-term investments in the energy transition.
Healthcare and Pharma Innovation
The healthcare sector is pushing for greater integration of preventive and alternative medicine, alongside improved insurance coverage for preventive care. Pharmaceutical manufacturers are highlighting the need to boost R&D spending and support advanced manufacturing. They seek budgetary backing for innovation, digital quality systems, and streamlined regulatory approvals for new therapies.
Retail, Tourism, and Exports
Retail and hospitality sectors are looking for demand stimulation measures and GST rationalization. Export-oriented industries, such as apparel and textiles, are focused on policy continuity and trade facilitation, including progress on free trade agreements and enhanced duty remission. The common thread across all sectors is a desire for reduced friction through cost rationalization, faster approvals, and regulatory predictability, aligning fiscal policy with operational efficiency.