Bengal Inc Applauds Union Budget 2026-27 for Infrastructure and MSME Support

Industry bodies and corporate leaders in West Bengal have expressed approval of the Union Budget 2026-27, describing it as forward-thinking and confidence-boosting. The budget emphasises infrastructure, manufacturing, and MSMEs while maintaining fiscal discipline. The Confederation of Indian Industry (CII) noted that the fiscal deficit target of 4.3% of GDP for FY27 aligns with the recommended glide path, reinforcing macroeconomic stability amid global uncertainty.

The CII particularly appreciated measures aimed at strengthening MSMEs, such as the proposed Rs 10,000 crore SME Growth Fund and the expansion of the Self-Reliant India Fund. Liquidity initiatives like mandatory TReDS, enhanced credit guarantees, and receivables securitisation were also welcomed. Additionally, announcements regarding three chemical parks, Biopharma Shakti with a Rs 10,000 crore outlay, and Rs 20,000 crore for carbon capture technologies were seen as supportive of domestic manufacturing and sustainability.

Infrastructure and Connectivity Boost

Industry leaders highlighted the Rs 2.81 lakh crore allocation for Railways as a significant boost to infrastructure, capacity expansion, and passenger safety. The proposed seven high-speed rail corridors, especially the Varanasi-Siliguri one, are expected to transform West Bengal and the eastern region by improving connectivity, trade, and tourism. The dedicated freight corridor from Dankuni to Surat and the Rs 10,000 crore container manufacturing scheme are also seen as game changers for logistics and supply chains in the East.

Shashwat Goenka, chairman of CII Eastern Region and vice chairman of R P Sanjiv Goenka Group, stated that the budget's consistency and policy stability provide long-term visibility to businesses. He noted that the focus on balanced regional development, particularly in Purvodaya states, is encouraging. The three-pronged approach for MSMEs—liquidity, equity, and professional support—will help create champion enterprises.

Focus on Regional Development

Mehul Mohanka, CII Eastern Region deputy chairman and Tega Industries Group CEO and MD, highlighted the emphasis on rare earth permanent magnets and creation of rare earth corridors as beneficial for mineral-rich eastern states. He also welcomed plans to operationalise 20 new national waterways over five years. Keshav Bhajanka from Centuryply described the budget as balanced and well thought-through.

Vinod Kumar Gupta from Dollar Industries praised the Rs 10,000 crore MSME credit boost and the proposed National Fibre Scheme. He believes it will enhance self-reliance in fibres and support employment in the labour-intensive hosiery sector. Anant Saharia from Calcutta Chamber of Commerce said the budget continues a forward-looking approach towards Viksit Bharat with a focus on manufacturing scale-up.

Long-Term Growth Prospects

Bharat Chamber of Commerce president Naresh Pachisia mentioned that record public capital expenditure of about Rs 12.2 lakh crore for FY27 would drive growth in EPC, cement, steel, and logistics sectors. This expenditure will help MSMEs transition from survival finance to champion building. Abhijit Roy from Bengal Chamber of Commerce noted that the budget delivers major connectivity gains for West Bengal.

FMCG player Emami Ltd's vice chairman Harsha Vardhan Agarwal said that the continuity-driven budget would strengthen India's long-term growth prospects by focusing on infrastructure, manufacturing, services, and MSMEs. Emami Group director Aditya Vardhan Agarwal added that measures such as high-speed rail and industrial corridors will boost jobs and productivity.

The Union Budget 2026-27 outlines a roadmap for inclusive growth anchored in skills development, job creation, and world-class infrastructure. It reflects a well-calibrated approach balancing growth imperatives with fiscal consolidation while delivering significant connectivity gains for West Bengal through new freight corridors and industrial nodes.

With inputs from PTI