The Union Budget 2026-27 is lauded for its people-centric approach, focusing on stability, inclusivity, and long-term value creation, according to Yezdi Nagporewalla, CEO of KPMG in India. Nagporewalla commended the government’s commitment to building a developed India while balancing fiscal responsibility with investments in growth and resilience.
The budget’s emphasis on strategic sectors like ISM 2.0 for semiconductors and incentives for hyperscalers investment in India is seen as a move to translate potential into tangible outcomes through domestic capabilities. This shift aims to reduce import dependence and enhance India’s position in global value chains.
Noteworthy initiatives in the budget include support for ‘Champion MSMEs’ through equity infusions, liquidity support, and professional assistance. The focus on SME growth fund and skill development measures is expected to aid enterprises crucial for employment generation and regional economic progress.
Sunil Badala, National Head of Tax at KPMG in India, highlighted the budget’s positive impact on the BFSI sector, emphasizing financial stability, deeper capital markets, and simplified tax administration. The proposal for a High-Level Committee on Banking for Viksit Bharat is deemed a significant structural reform to enhance governance and align credit delivery with India’s economic growth phase.
