Mail News Service
Jamshedpur: The Singhbhum Chamber of Commerce and Industry (SCCI), Jamshedpur, on Sunday welcomed the Union Budget 2026–27, describing it as a balanced and forward-looking document focused on fiscal discipline, Atmanirbhar Bharat, infrastructure development and public welfare.
SCCI organised a live telecast of the Union Budget at its Bistupur Chamber building, which was attended by office-bearers and members. The participants keenly followed the budget speech and later held detailed discussions on its key provisions and implications for trade and industry.
SCCI President Manav Kedia said that the reduction in fiscal deficit is an encouraging sign for a developing economy like India. He noted that the decline in fiscal deficit from 4.5% to 4.4%, with a target of 4.3% in the coming year, reflects the government’s commitment to responsible financial management.
Vice-President (Finance & Taxation) Advocate Rajiv Agarwal highlighted the significant thrust on infrastructure and connectivity, particularly the proposal for seven high-speed rail corridors, which he said would ease business movement, strengthen logistics and boost tourism.
Secretary (Finance & Taxation) Anshul Ringasia welcomed the proposal to extend the timeline for filing revised income tax returns from December 31 to March 31, stating that it would give genuine taxpayers adequate opportunity to rectify errors.
While acknowledging that the increase in Securities Transaction Tax (STT) on F&O could impact traders, members observed that it would help curb excessive speculation and safeguard small investors.
Treasurer CA Anil Ringasia termed the announcement of setting up or upgrading mental health institutions in Ranchi (Jharkhand) and Tezpur (Assam) as a humane and visionary step that would strengthen the country’s mental healthcare ecosystem.
Vice-President Harsh Bakrewal praised the government’s continued focus on promoting domestically manufactured products under the Atmanirbhar Bharat initiative, which is expected to boost local manufacturing, employment and industrial growth.
Vice-President Anil Modi described the removal of import duty on 17 cancer drugs as a sensitive and relief-oriented decision that would significantly reduce treatment costs for patients.
The trade outfit expressed confidence that the Union Budget 2026–27 would provide fresh momentum to trade, industry, MSMEs, investment and employment generation, and contribute meaningfully towards the vision of a “Developed India”.
Several senior members, former presidents, chartered accountants, advocates and taxation experts were present in large numbers during the session.
