A recent FICCI survey revealed that nearly 80% of industry respondents are optimistic about India’s growth prospects. Expectations indicate that GDP growth will likely stay between 7-8% in FY 2026-27, showcasing confidence in the country’s long-term fundamentals amidst global uncertainties. The survey emphasized the importance of fiscal prudence, with 42% of participants anticipating the achievement of the fiscal deficit target of 4.4% of GDP in FY 2025-26.
The survey highlighted three key macroeconomic priorities for the upcoming Union Budget 2026-27: job creation, infrastructure development, and bolstering exports. Sectors like infrastructure, manufacturing, defense, and MSMEs are expected to be in focus. The report suggested a focus on manufacturing and capital expenditure, proposing the establishment of a mega electronics industrial cluster and increased capital outlay in defense allocations.
To enhance export performance, the survey recommended streamlining trade processes, reducing logistics bottlenecks, and strengthening export incentives. It called for increased allocations under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme and reforms in SEZ policy. Respondents also looked forward to simplifying tax compliance, ensuring tax certainty, and improving dispute resolution mechanisms in the upcoming budget.
