Union Budget 2026: A blueprint for the next phase of growth 

As Finance Minister Nirmala Sitharaman prepares to present Union Budget 2026, the expectations from India Inc. reflect an economy at a strategic inflection point. Having navigated post-pandemic volatility with resilience, the focus of the industrial ecosystem has shifted from recovery to dominance. The overarching sentiment across sectors—from manufacturing and mobility to technology and real estate—is a demand for policies that cement India’s position as a global economic powerhouse. 

While specific wishlists vary, the thematic unity is striking. There is a collective call for sustained capital expenditure to bridge infrastructure gaps, ensuring that the physical backbone of the economy keeps pace with its digital aspirations. Industry leaders are advocating for a fiscal environment that balances aggressive growth with macroeconomic stability, emphasizing the need for tax rationalization to boost consumption and structural reforms to ease the cost of doing business. 

Sustainability also emerges as a non-negotiable pillar, with heavy industries and mobility players alike seeking fiscal bridges to accelerate the green transition. Simultaneously, the services and tech sectors are urging a renewed focus on skilling to ensure the workforce is future-ready. 

As the government balances populist measures with fiscal prudence, the corporate world is watching closely. Below, we collate the perspectives of captains of industry as they articulate their vision for a budget that could define India’s trajectory toward becoming a developed nation. 

Pre-Budget Quote – 2026 

Nikhil Barshikar, Founder & CEO of Imarticus Learning and Chairman of the Advisory Council at Imarticus School of Finance & Business 

“NEP 2020 is a well-designed and forward-looking policy that provides India with a clear, coherent framework across schools and higher education. It gets the fundamentals right, from foundational learning and teacher development to multidisciplinary universities, credit mobility, and global integration. The real opportunity in the next Union Budget is to translate this strong policy intent into execution at scale. 

In schools, the challenge is capacity and delivery. India still faces an estimated 1 million-plus teacher vacancies, even as the system serves over 250 million students. Bridging this gap will require sustained funding for teacher recruitment, continuous professional training, and digital teaching infrastructure, particularly in early grades where learning outcomes have the highest long-term impact. 

In higher education, the distance from NEP’s ambitions is visible in the numbers. Gross Enrolment remains around 28%, well below the 50% target, research spending continues to stay under 1% of GDP, and the number of truly multidisciplinary, globally benchmarked universities remains limited. The next Budget should therefore accelerate implementation,by enabling foreign universities to operate meaningfully in India, strengthening credit transfer and mobility, and supporting the emergence of new-age universities focused on research, technology, and employability. Policy clarity exists; outcomes will now depend on execution, funding, and institutional capacity.” 

Vikas Singh, Chief Growth Officer, Mohan Babu University, had this to say. “As we look ahead to Budget 2026, the focus should be on strengthening the entire education value chain so it meaningfully supports India’s growth story. Beyond funding, we need targeted investment in technology-enabled learning, skill integration across programmes, and initiatives that bridge academia with emerging industries. Prioritising scalable digital platforms, student-centric financing, and regional education clusters will help democratise access and ensure graduates are ready for tomorrow’s opportunities.”

Sonali Chowdhry, CEO, OfficeNet, weighed in as well.

“As India’s digital economy matures, Budget 2026 is a critical opportunity to strengthen the foundation for scalable, innovation-led growth. The software and technology sector would benefit from sharper R&D-linked incentives that encourage the development of homegrown AI and deep-tech solutions, particularly those that enhance enterprise productivity, compliance, and decision-making. Targeted R&D tax credits and structured innovation incentives can nudge companies to build and scale domestic platforms rather than rely on imported technologies.

Equally important is sustained government support for large-scale reskilling and talent development, ensuring the workforce remains future-ready as AI adoption accelerates across enterprises. Encouraging the adoption of foundational enterprise tools such as HRMS for core operational functions can help MSMEs and mid-sized organizations scale efficiently and compliantly. Together, these measures can accelerate digital adoption while positioning India as a global hub for sustainable, innovation-driven software growth.”