Budget signals confidence, continuity and reform: CII Jharkhand

Mail News Service

Jamshedpur: Recognising the Union Budget as a pivotal policy instrument shaping India’s growth trajectory, investment climate and industrial competitiveness, the Confederation of Indian Industry (CII) organised a Live Union Budget 2026–27 viewing session with senior industry leaders in Jamshedpur on Sunday.

The session brought together key stakeholders to deliberate on the budget at a time when India is navigating global economic uncertainties while steadily advancing towards its ambition of becoming one of the world’s leading economies.

CII described the Union Budget 2026–27 as forward-looking and confidence-building, reflecting the Government’s strong commitment to next-generation reforms, sustained high growth and macroeconomic stability.

Amid global volatility, the budget was seen as sending a reassuring signal of continuity, credibility and long-term vision for India’s development journey.

Welcoming the continued focus on fiscal prudence alongside growth support, CII noted that the fiscal deficit target of 4.3 per cent of GDP for FY27 is well aligned with the glide path recommended by industry.

The emphasis on fiscal discipline, including adherence to the debt-to-GDP roadmap towards 50 per cent by FY31, while retaining policy flexibility, reinforces confidence in India’s macroeconomic management.

Sunil Tiwari, Chairman, CII Jharkhand State Council, said, “The Budget addresses several long-standing concerns of industry, particularly MSMEs.” He highlighted the balanced approach, with renewed emphasis on the services sector, tax simplification and ease of compliance. The 10–12 per cent increase in capital expenditure, he noted, is a strong signal of commitment to infrastructure-led growth, which will significantly benefit industrial development in states like Jharkhand. He also appreciated the government’s focus on education, healthcare and infrastructure as a sound long-term growth strategy.

Diloo Parikh, Vice Chairman, CII Jharkhand State Council, underlined the continuity and stability in policymaking reflected in the Budget. Measures such as risk-based customs clearance, greater digitisation, reduced compliance burden and enhanced regulatory certainty were seen as positive steps to improve India’s investment climate. He termed the proposed High-Level Committee on Banking for Viksit Bharat a timely initiative to prepare the financial sector for the funding needs of a fast-growing economy, while also noting the strong emphasis on employment generation and human capital development.

Vikash Mittal, Convenor, CII Jharkhand Economic Affairs, Finance & Taxation Panel, highlighted the focus on semiconductors, healthcare, mineral development and the green transition as key takeaways.

He noted that allocations for MSMEs demonstrate intent to strengthen the ecosystem, while the balanced sectoral approach supports India’s aspiration to emerge as one of the world’s top three economies.

Other industry leaders welcomed customs duty rationalisation, incentives for data centres, continued thrust on capital expenditure, and targeted measures for real estate, hospitality, tourism and MSMEs. Enhanced liquidity support, revival of legacy industrial clusters, ease of doing business reforms and skilling initiatives were widely seen as growth-enabling.

The CII Jharkhand Live Budget Viewing Session concluded on a constructive note, with industry leaders acknowledging the Union Budget 2026–27 as a pragmatic and balanced roadmap that supports growth, inclusion and long-term competitiveness.

Overall, the Budget reinforces India’s position as an attractive investment destination and provides a strong platform for industry–government partnership in advancing the vision of a Viksit Bharat.