Jamshedpur: Shekhar Dey, Director of Sreeleathers (SL), one of India’s most prominent footwear brands, has welcomed the Union Budget 2026–27, describing it as a “balanced, growth-oriented and forward-looking” policy document that addresses both industry needs and consumer aspirations.
Reacting to the budget presented by Union Finance Minister Nirmala Sitharaman, Dey said the Finance Minister has “done a good job” in striking the right balance between fiscal prudence and growth stimulus.
He noted that the budget carries several positive signals for the leather and allied sectors, which are expected to benefit from measures that will make leather and related products more affordable.
Sreeleathers, traditionally known for its leather footwear and accessories, has in recent years diversified its product portfolio to include sports apparel and activewear, aligning itself with evolving consumer preferences and lifestyle trends.
Dey said such forward-looking industry strategies are well supported by a budget that encourages manufacturing competitiveness and cost efficiencies.
Welcoming the government’s focus on education, Dey also termed the move to make foreign education more affordable as a significant and progressive step.
The Union Budget 2026–27 proposes to reduce the Tax Collected at Source (TCS) rate under the Liberalised Remittance Scheme (LRS) from 5 per cent to 2 per cent for remittances made towards education and medical purposes.
The reduced TCS rate will apply to remittances exceeding Rs 10 lakh and will cover both self-funded overseas education transfers as well as payments made through education loans.
According to Dey, this measure will ease the financial burden on students and families aspiring for global education and reflects the government’s sensitivity towards middle-class concerns.
Overall, Dey said the budget reinforces confidence among industry leaders and consumers alike, setting a constructive tone for sustained growth in manufacturing, education and allied sectors.
