Budget Expectations: Here's What Various Industries are Demanding

As per the announcement by the Union Minister Kiren Rijiju on X, the budget session of the parliament will begin on January 28, while the Union Budget for 2026 is scheduled to be presented on February 1, falling on Sunday.

Along with the announcements, a lot of reactions and expectations have started coming in, where several industries are eyeing growth for themselves and the sectors in general. 

Reeling with the fluctuation in the gold prices, the jewellery sector is waiting for a boost. "The upcoming budget is critical for the sector amid volatile gold prices and evolving demand dynamics. Import duty rationalisation on gold, along with greater tax clarity for diamonds and lab-grown segments, would improve cost structures, support organised retail growth, and strengthen India’s competitiveness across the jewellery value chain. We also hope to see supportive steps around GST and policies that encourage formalisation and value addition within the industry. A balanced, growth-oriented budget can boost consumer confidence and further reinforce India’s position as a global jewellery hub," Prerna Khurana, Director, Khurana Jewellery House.

Teja Chekuri, Managing Partner from Ironhill India says, "Launch targeted skilling programmes for hospitality and alco-bev service roles, developed with industry bodies, to bridge the chronic gap in trained kitchen, service, brewing, and bar talent. ffer clear, stable GST guidelines for bundled offerings across events, catering, rooms, and F&B, to reduce disputes and compliance burdens for experience-led venues."

Esports beyond entertainment

Rohit N Jagasia, Founder, Revenant Esports, "It is high time that the government sees the esports industry from a different perspective and not just an extension of the entertainment industry. The industry expects structural recognition and long term enablement from the government. There should be a continuity in the policy on skill-based gaming with more clarity on tax and compliance framework. As per estimates, the esports industry in India was valued at around $200 million in 2024 and is expected to touch $1 billion by 2033. The scope is huge and emphasis on building digital infrastructure, talent development, and export-led growth will be the right way forward with this Union Budget."

Vivek K Singh, CMD SNVA Veranda, says, "One of the key expectations is the removal of the 18% GST on all skilling and upskilling programs for working professionals. Secondly, IT and professional education should be formally included under the National Skill Development Mission. Currently, the focus remains largely on vocational and entry-level training, while advanced professional education that fuels leadership, innovation, and digital transformation remains underserved. The government should allow a 100% income-tax deduction on expenses incurred by working professionals for skilling, upskilling, and professional education."

Construction sector demands GST rationalisation

Rajan Luthra, CFO, ACE-Action Construction Equipment Ltd.says, “With public capital expenditure continuing to anchor economic momentum with Rs.11.21 lakh crore earmarked for FY2025–26, India’s infrastructure push remains a critical driver of GDP growth and employment. For the construction equipment industry, we expect demand recovery to be led by rising private capex, expanding export opportunities, defence applications, and sustained investments in airports, railways and freight corridors. Supportive policy measures, including GST rationalisation, easing interest rates and improved liquidity, will be further vital to crowd in private investment and strengthen industry confidence."

Mohit Jandu, MD, J Infratech, says, "We expect continued prioritisation of roads and highways within government capital expenditure, along with enhanced financial support to states and a refreshed National Infrastructure Pipeline. There will be growing focus on end-to-end digital transformation of the national highway network, from planning and Detailed Project Reports to construction, maintenance and tolling, leveraging digital mapping and validation tools to improve project coordination, speed up approvals and minimise ecological impact."

'Restoration of Input Tax Credit'

According to Pulkit Arora, Director, CYK Hospitalities, the food and beverage industry is optimistic that the long-awaited structural alignment will take place. "The restoration of Input Tax Credit, the recognition of the hospitality sector as an industry, and the simplification of the licensing process can significantly strengthen operational viability. The food companies will then be able to concentrate on quality, innovation, and consistency rather than dealing with inefficiencies.”

Adding to it, Simran Jeet Singh, who also works as a Director at the CYK Hospitalities, says, "From the perspective of expansion, brands are prepared for growth while the markets are prepared for consumption. Budget 2026 has the potential to unblock, quicken, and even more smoothly F&B expansion across the different parts of the city by providing clearer leasing frameworks, single-window approvals, as well as uniform commercial policies."

Ankush Sabharwal, Founder and CEO of CoRover, expects the AI to be treated as "core digital infrastructure. "This is the year to double down with targeted incentives for indigenous LLMs, agentic AI platforms and sovereign AI stacks that are built in and for India’s diverse languages and use cases. We hope to see larger allocations for GPU infrastructure, sandbox environments for regulated sectors, and outcome-based incentives for AI deployments in public services, MSMEs and Bharat-focused solutions," he says.

Technology sector boost for AI

Dipesh Ranjan, Senior Vice President, Sales from Cyble, says, "The rapid rise in AI, Cloud, and Digital public Infrastructure has made cyber threats more than just IT threats and created a risk to the nation’s economy as well as its security. Therefore, we expect that Investment in Advanced Threat Intelligence, AI-based Cybersecurity Platforms and greater Public-Private Partnerships will be at the top of Budget 2026."

"We expect the upcoming budget to strengthen support for enterprise AI adoption in regulated sectors, particularly around data security, indigenous language technology, and responsible automation. Clear policy direction on AI governance, incentives for India-first R&D, and investments in digital public infrastructure will be critical. For BFSI institutions, technology must now operate as core infrastructure rather than experimentation, enabling faster customer engagement, lower operational costs, and stronger compliance," says Anurag Jain, the founder and CEO of Oriserve. 

Credit gaps, a concern for the finance sector 

"In the upcoming budget, we look forward to measures being introduced to facilitate digital NBFCs. A Budget which takes into account technological advancements in filling the credit gaps can empower people to manage short-term requirements," says Ankit Modi, Managing Director of SalaryOnTime. 

Talking to Local Samosa about the expectation over the credit policies, Suresh Kumar, Managing Director at EmergencyPaisa, says, "The finance sector is eagerly awaiting the inclusion of policies related to short-term and digital forms of credit, which have emerged as a necessity of the rapidly paced economy in the present day to address the realities of working under cash flow deficit situations.