Budgets rarely steal the spotlight from headline-grabbing announcements, but in India’s Union Budget 2026, the real story lies between the balance sheets. With a renewed focus on banks, NBFCs and capital markets, the government has made it clear that financial inclusion and financial stability will move forward together.
Against a backdrop of global uncertainty, the budget underscored the role of a resilient and future-ready BFSI ecosystem in mobilising savings, allocating capital efficiently, and extending formal finance to every corner of the economy.
At the heart of the government’s approach is confidence in the strength of India’s banking system. With improved asset quality, historic highs in profitability and banking coverage now reaching more than 98 per cent of villages, the budget acknowledged that the sector is well placed to support the next phase of economic expansion.
Emphasising this confidence, Nirmala Sitharaman, Finance Minister, Government of India, stated, “A robust and resilient financial sector is central to mobilising savings, allocating capital efficiently and managing risks.”
This move reinforces the government’s belief that financial stability and inclusion must progress together.
Key BFSI announcements in Union Budget 2026
- High-Level Committee on Banking for Viksit Bharat
The Budget proposes the constitution of a High-Level Committee on Banking for Viksit Bharat to undertake a comprehensive review of India’s banking ecosystem. The committee will evaluate how banks can be better aligned with the country’s evolving growth requirements, while simultaneously ensuring consumer protection, financial stability, and last-mile financial inclusion. This initiative reflects the government’s intent to adopt a long-term, reform-led approach to banking sector development, moving beyond incremental policy interventions and towards structural, future-oriented reforms.
- Renewed focus on NBFCs and non-bank credit channels
The Budget places sharper emphasis on the role of NBFCs, recognising their increasing importance in credit delivery, especially to underserved and unbanked segments of the economy. By outlining a clear vision for NBFCs within the Viksit Bharat framework and proposing restructuring measures for public sector NBFCs such as Power Finance Corporation and Rural Electrification Corporation, the government has signalled its intent to enhance scale, operational efficiency, and governance standards in the non-bank lending space. These measures are expected to improve credit flow to infrastructure, power, and rural sectors, areas where traditional banking penetration has often been limited.
- Deepening capital markets and strengthening local financing
Capital market development has emerged as another key pillar of the BFSI narrative in Budget 2026. Proposals to deepen the corporate bond market through the introduction of a market-making framework and new derivative instruments are aimed at improving liquidity and price discovery, thereby making long-term financing more accessible for businesses. In parallel, incentives for larger municipal bond issuances seek to empower urban local bodies to raise funds directly from the market, reduce reliance on budgetary support, and strengthen financial autonomy at the grassroots level.
At a glance, BFSI-focused measures in Budget 2026 reflect a clear policy direction that is building a financial system that is not only strong and profitable, but also inclusive, technology-driven and capable of supporting India’s ambitions over the coming decades. By combining structural reforms, regulatory reviews and market development, this Union Budget solidifies the idea that financial inclusion and economic growth are not parallel goals, but deeply interconnected outcomes of a well-functioning banking and financial ecosystem.
Insights from BFSI Industry Veterans
Santosh Agarwal, CEO, Paisabazaar, said, “Budget 2026 signals a strong leap towards a Viskit Bharat with timely push toward strengthening India’s credit ecosystem, particularly for small businesses and individual taxpayers. The Government has continued its focus on widening access to credit and creating a robust financial system. India’s small businesses have traditionally faced challenges in accessing formal credit; the proposed ₹10,000 crore SME Growth Fund can be a significant step toward energising the growth of the key sector. Additionally, the proposed ₹2,000 crore top-up to the Self Reliant India Fund improves the supply of capital for micro and small enterprises. Together these two initiatives can improve the pipeline of credit-ready businesses and deepen the formal lending ecosystem. Also, with a larger push towards infrastructure development at scale, the government clearly aims to provide fresh impetus to employment generation across sectors. Special domestic provisions such as ODOP (One District One Product) and policies encouraging multinational companies to establish global data centres in India underscore the government’s proactive approach to changing economic and technological landscapes.”
“As India targets long-term, broad-based economic growth, setting up of a high-level committee on banking for Viksit Bharat can also become an important step towards strengthening the financial sector. Introduction of Total Return Swaps on corporate Bonds that would allow investors to gain exposure to bonds without directly holding the underlying securities should enhance liquidity and participation. On the direct tax side, the introduction of the Income Tax Act 2025, represents a major step toward simplification of process and rationalisation of assessment. A simplified journey and a removal of ambiguities will ease compliance for individuals and small businesses,” she decoded.
Subhash Chandra Acharya, MD, SEEDS Fincap Pvt Ltd. said, “By strengthening liquidity mechanisms and reviewing the financial sector framework, Union Budget 2026 reinforces the role of NBFC in MSME financing. Improved cashflow and policy clarity will allow NBFCs like us to deepen credit penetration while maintaining prudent risk management.”
BG Mahesh, CEO, Sahamati said, “This Union Budget rightly underscores that India’s next phase of growth will be defined not just by the availability of capital, but by how intelligently and responsibly it is allocated. A resilient financial sector is one that moves beyond collateral-heavy models and learns to price risk using real economic activity, especially for MSMEs, which remain central to India’s growth but structurally underserved. The emphasis on technology as a force multiplier and the creation of ‘Champion MSMEs’, signals a deeper shift towards trust-based, data-led governance. The Account Aggregator ecosystem is foundational to this shift. By enabling consent-driven access to verified cash flows, transaction data and financial behaviour, the ecosystem (AA) allows lenders to replace proxies with proof and assumptions with evidence, improving credit access for all.
“As India advances towards Viksit Bharat, the success of MSME financing will hinge on building shared digital public infrastructure that is interoperable, secure and trusted by all stakeholders. At Sahamati, we see this not just as a credit enabler but as a long-term capability that ensures growth capital reaches businesses sustainably, at the right time and at the right cost,” he added.
Ravi Narayanan, MD & CEO, SMFG India Credit discussed, “The Union Budget 2026 presents a clear and constructive roadmap for strengthening India’s financial architecture, with a balanced emphasis on stability, inclusion, and long-term growth. The government’s decision to constitute a High-Level Committee on Banking for Viksit Bharat is a forward-looking step that recognises the evolving and complementary role of NBFCs in deepening credit penetration and supporting India’s development priorities. For the NBFC sector, the Budget sends a strong signal of policy continuity and confidence. The focus on improving credit transmission, leveraging technology, and enhancing efficiency across the financial system will enable NBFCs to scale responsibly while continuing to serve underserved and emerging customer segments. The proposed SME Growth Fund is a timely and meaningful intervention, as it will provide patient capital to small and medium enterprises, fostering innovation, productivity, and sustainable job creation.”
“Equally encouraging is the intent to undertake a comprehensive review of the FEMA framework for non-debt investments. Simpler, more predictable regulations will improve ease of doing business and facilitate access to long-term global capital, an important enabler for NBFCs to support India’s investment-led growth. Overall, Budget 2026 reinforces a clear vision for a resilient, well-regulated, and inclusive NBFC ecosystem—one that empowers individuals and enterprises with affordable, relevant financial solutions and plays a critical role in advancing India’s journey towards a Viksit Bharat,” he explained.
Neeti Sharma, CEO, TeamLease Digital said, “For the BFSI sector, the Union Budget 2026–27 strengthens the digital foundations of financial services at a critical moment. As AI, data platforms and automation become central to banking, insurance and fintech, the push on domestic AI infrastructure, data centres and digital systems enables firms to scale faster and manage risk more intelligently. Platforms like GeM–TReDS also improve transparency and cash-flow access for MSMEs and supply-chain finance. In simple terms, BFSI is moving from transaction processing to intelligent financial systems — driving sustained demand for skills in data science, cybersecurity, risk analytics and digital product engineering, while supporting deeper financial inclusion and more resilient financial services”.
Prachi Dharani, Co-founder & CEO, PayGlocal, said, “Union Budget 2026 takes a meaningful step towards towards building India as a globally integrated, export-first economy. The complete removal of the ₹10 lakh per-consignment cap on courier exports is more than a procedural change. It creates the foundation for higher-value cross-border e-commerce, stronger unit economics, and larger average ticket sizes for Indian exporters. What makes this reform especially significant is that it sits alongside a broader push for trust-based, technology-led trade infrastructure. Measures such as faster clearances, the rollout of the Customs Integrated System, and the expansion of AI-enabled risk assessment point to a future where exports move with greater speed, certainty, and lower friction. A higher threshold closer to ₹25 lakh would have provided even greater alignment with evolving cross-border payment realities. We expect the next priority to be execution at scale, so India’s small businesses and digital exporters can compete seamlessly in global markets.”
Harendra Kumar, MD, Elara Capital said, “The Budget builds on the series of free trade agreements signed by the government and focuses on creating an ecosystem that enhances productivity, production and value-chain integration, with the aim of positioning India as a global export champion. As outlined in the Economic Survey, India’s potential growth rate has increased to around 7–7.5 per cent, a level that would have been difficult to sustain over the long term without structural reforms. With FTAs now in effect, the creation of a strong manufacturing ecosystem has become imperative, and the Budget seeks to catalyse this transition.”
“If the measures announced are implemented as intended, India could see an incremental increase in annual GDP growth from 2027–28 onwards. Overall, the Budget signals a decisive shift towards a manufacturing- and export-led growth model. Key focus areas include medical tourism, the export of skilled professionals to markets such as the UK and the EU, and investments in textile parks, semiconductors, data centres and nuclear energy*. While the impact will ultimately depend on execution, the Budget presents a clear direction and potential opportunities for long-term growth,” he elucidated.
Sarvjit Singh Samra, MD & CEO, Capital Small Finance Bank explained, “The Budget reflects a clear shift towards strengthening the balance sheets and resilience of MSMEs, agricultural and rural enterprises, with a focus on formalisation and sustainable credit growth. Measures such as equity support for MSMEs, wider adoption of TReDS, introduction of ‘Corporate Mitras’, risk-sharing mechanisms for lenders, and targeted interventions across agri and allied sectors should improve cash-flow predictability and reduce structural vulnerabilities at the grassroots level. For small finance banks, and particularly for Capital Small Finance Bank as India’s first SFB with deep roots in rural and semi-urban markets, these measures have direct and meaningful implications. Greater formalisation and stronger market linkages enable sharper credit assessment, expansion of MSME and agri value-chain financing, and responsible portfolio growth while maintaining asset quality, supporting first-generation entrepreneurs, and advancing inclusive growth.”
Alok Rungta, MD and CEO, Generali Central Life Insurance said, “The Union Budget is one of the most holistic in recent times, with a clear focus on inclusive growth. The continued emphasis on stability, easier compliance, and greater convenience for taxpayers, along with measures such as the reduction in Tax Collected at Source for education and medical expenses, will help ease cash flow pressures for families. Efforts to reduce tax litigation also reflect a more trust-based approach. That said, there was an expectation that tax concessions for life insurance and retirement products would be revisited, as current limits no longer align with rising incomes and evolving life-stage needs. Enhanced and simpler incentives could play a meaningful role in addressing India’s protection gap. The Budget’s push for job creation, healthcare, and connectivity is expected to strengthen household incomes. As more families become financially active, this environment underscores the growing need for life insurance not just as protection, but as a practical means to ensure income continuity and long-term financial security.”
Manish Shah, MD & CEO, Godrej Capital said, “Budget 2026 is a progressive step for MSMEs and manufacturing. By strengthening TReDS as a pricing benchmark and settlement platform, the government has directly addressed a long-standing working capital challenge for small businesses. The MSME Growth Fund and the enhanced Self-Reliant India Fund further improve access to capital and growth opportunities. At the same time, measures like the National Fibre Scheme and the textile expansion plan modernise key value chains and position India’s traditional industries for long-term success. Initiatives such as She-Marts to empower women entrepreneurs put women-led enterprises at the centre of India’s growth story, signalling a shift toward inclusive entrepreneurship that delivers both dignity and economic participation at scale. The continued push on infrastructure-led development, especially along rail corridors, will support real estate growth and affordable housing growth in Tier 2 and Tier 3 cities and create sustained demand across housing and allied sectors. Overall, the budget deepens liquidity, strengthens institutions, and supports sustainable, long-term growth.”
Radhika Rao, Executive Director and Senior Economist, DBS Bank, said, “The FY27 Budget aligns fiscal discipline with strategic priorities. Allocations have been increased for infrastructure, alongside measures to strengthen domestic capabilities across both key labour-intensive and emerging sectors. Banking sector development remains a priority to foster inclusive growth and is complemented by enhanced financing support for MSMEs. Service sector activity is expected to benefit from targeted interventions, including support for cloud services through data centres, promotion of medical value tourism, continuation of safe harbour provisions, and exemptions on global income for non-resident experts. On the tax front, constructive measures, particularly customs duty exemptions, are aimed at reducing production costs. Overall, the Budget preserves macroeconomic stability and maintains continuity in policy. Fiscal consolidation will continue, with the centre’s debt-to-GDP ratio projected to decline by around 0.5 per cent and the fiscal deficit expected to narrow to 4.3 per cent of GDP.”
Sudipta Roy, Managing Director & CEO, L&T Finance Ltd., said, “Budget 2026-27 is a bold statement in terms of continuing on reforms while cautiously navigating the external environment. There is continued thrust on labour intensive sectors like manufacturing, infrastructure, tourism, while also incorporating new elements like services as core growth driver, path for education to employment and push on healthcare at all levels. Structurally positive elements viz, focus on critical sectors like pharma, rare earth, semiconductors; extending policy push to city economic regions; aligning future ready financial systems for next phase of India’s growth story and inclusive access to resources, will help accelerate and sustain India’s economic growth. Fiscal deficit targets have been lowered while keeping the momentum of higher capital expenditure with targeted 12.2 lakh crore capex in FY27. Self-reliant India fund for equity support to micro enterprises and creating future MSME champions could prove to be a game changer in fulfilling aspirations on the path of prosperity for the nation.”
Jairam Sridharan, MD & CEO, Piramal Finance said, “The two mega themes of central budgets since 2020 have been fiscal discipline and infrastructure investments. The Fiscal Deficit has reduced steadily from a peak of 9.2% in the Covid year to 4.4% last year. Simultaneously, Capex has steadily increase from roughly 5.5 lac cr in the pandemic year to over 11 lac cr last year. Both these powerful trends have continued in this year’s budget, with further reduction in FD to 4.3% and increase in Capex to over 12 lac cr. There is an implied pivot in the budget – from physical infra towards more emphasis on productive manufacturing and employment generation. These are welcome long-term bets. Budget 2026 is a mature balancing act – between long term investments and immediate deficits, employment generation and Capital Expenditure, between real economy’s needs and capital markets’ interests.”
Gaurav Jalan, Founder & CEO, mPokket, said, “The Union Budget 2026 takes a decisive step towards building MSMEs as long-term growth champions rather than short-term survivors. The government’s three-pronged approach, combining a ₹10,000 crore SME Growth Fund for scaling high-potential enterprises, performance-linked incentives that reward productivity and formalisation, and a ₹2,000 crore top-up to the Self-Reliant India Fund for micro enterprises, recognises the very different credit needs across the MSME spectrum. This layered approach is critical for ensuring that growth capital reaches small businesses ready to scale, while lifeline financing continues to support the smallest and most capital-constrained businesses that remain outside the reach of traditional credit guarantees. For us, this policy direction strengthens the foundation for responsible business lending, where credit is not just about liquidity, but about enabling formalisation, resilience, and sustainable enterprise growth across India’s MSME ecosystem.”
Madhur Kumar, Chief General Manager – MSME Banking, Co-Lending, and Supply Chain Finance, Bank of Baroda, said, “Union Budget 2026 signals a clear shift toward structural strengthening of MSME financing, with banks placed at the centre of execution. The most significant intervention is the deepening of TReDS, including mandatory routing of CPSE MSME payments and enhanced credit guarantees for invoice discounting. From a banking perspective, this improves cash-flow visibility, shortens working-capital cycles, and enables safer, receivable-backed lending rather than collateral-heavy approaches. Also, the proposed ₹10,000 crore SME Growth Fund complements traditional bank credit by addressing the equity gap for scalable MSMEs. This is positive for banks as better-capitalised enterprises typically demonstrate stronger repayment capacity and lower credit risk, creating opportunities for long-term lending and cross-sell. Expanded credit guarantee coverage further strengthens lender confidence, particularly for micro and small enterprises, supporting both growth and priority sector objectives.”
“The Budget also reinforces data-led credit delivery, with integration across platforms such as GeM, GST, and TReDS, allowing banks to sharpen underwriting, pricing, and early-warning mechanisms. Overall, Budget 2026 moves MSME banking from volume-driven lending to cash-flow-based, digitally enabled, and risk-calibrated financing, while placing strong emphasis on formalisation, resilience, and sustainable growth of the MSME ecosystem,” he added.
S.Sundararajan, CEO and Co-founder, i-exceed discussed, “The Union Budget FY26 reflects a measured and institutionally grounded approach to financial sector reform. By prioritising structural review over headline-driven announcements, it creates an opportunity to align banking resilience, fintech innovation, and consumer trust within a cohesive national framework. If translated into clear policy roadmaps and executed decisively, this approach can strengthen India’s position as a stable, inclusive, and technology-led financial ecosystem.”
Ankur Bansal, MD, BlackSoil, said, “Making India’s financial sector future-ready is central to achieving the vision of ‘Viksit Bharat’. The proposed High-Level Committee on Banking reflects a timely effort to align the sector with India’s next phase of growth, while safeguarding stability and inclusion. Alongside the RBI’s move to simplify regulatory compliance, these reforms create a stronger foundation for responsible credit expansion. For lenders and alternative credit providers, a clearer, more efficient regulatory framework is critical to scaling capital to high-growth enterprises and strengthening India’s credit ecosystem.”
Adhil Shetty, CEO, BankBazaar said, “Union Budget 2026–27 strengthens the foundations of India’s formal credit and financial system through targeted, data-backed measures. The proposed ₹10,000 crore SME Growth Fund is a key intervention. It addresses the long-standing equity and growth capital gap faced by scaling MSMEs, which employ over 11 crore people and contribute nearly 30 percent of India’s GDP. Better access to patient capital can help viable enterprises move from survival mode to sustainable expansion. The continued focus on strengthening the TReDS and invoice discounting framework directly tackles MSME liquidity stress. Faster receivables financing improves cash flows, reduces dependence on informal borrowing, and lowers working capital costs. This is critical for small businesses operating on thin margins. Within banking and NBFCs, the proposal to constitute a high-level committee on banking for Viksit Bharat signals a comprehensive review of the sector. The focus on financial stability, inclusion, consumer protection, and technology adoption is timely. The government’s clearer articulation of the role of NBFCs, including defined credit targets and technology-led efficiency, reinforces their importance in last-mile credit delivery. For households, the reduction in TCS under the Liberalised Remittance Scheme to 2 percent from 5 percent for foreign travel, education, and medical expenses will ease upfront cash-flow pressure. It improves affordability for overseas education and healthcare while reducing short-term liquidity strain. Overall, Budget 2026–27 takes a measured approach. By combining capital support, digital and AI-led infrastructure, and regulatory reform, it aims to deepen formal credit penetration, improve liquidity, and strengthen trust across India’s financial system.”
Mahesh Shukla, Founder and CEO, PayMe said, “The Budget expresses support for India’s financial services ecosystem and the NBFC sector. Continued fiscal consolidation, a sustained push in public infrastructure investment, and targeted measures for MSMEs create an enabling environment for long-term credit growth. Steps aimed at strengthening credit channels including MSME-focused liquidity and guarantee mechanisms and measures to deepen debt markets should support responsible expansion across the lending ecosystem. NBFCs, given their reach into emerging and underserved segments, remain a critical part of addressing last-mile credit needs. The Budget’s emphasis on reforms, technology adoption and improved ease of compliance is also expected to enhance transparency and trust. While the sector remains watchful of near-term factors such as cost of funds and asset quality, the overall policy direction supports sustainable, responsible credit growth creating opportunities for NBFCs to focus on prudent underwriting, customer-centric product design, and long-term value creation as partners in India’s growth journey.”
Mukesh Pandey, Director, Rupyaa Paisa said, “The proposal to revive 2,000 industry clusters alongside the creation of a ₹10,000 crore MSME growth fund is a strong signal of the government’s intent to strengthen India’s entrepreneurial backbone. Industry clusters play a critical role in improving productivity, enabling shared infrastructure, and fostering local employment, while dedicated growth capital can help MSMEs scale operations and adopt technology. This combined approach addresses both structural and financial challenges faced by small businesses. If implemented effectively, the initiative can enhance competitiveness, formalisation, and credit access for MSMEs, while driving sustainable economic growth and supporting India’s broader manufacturing and employment objectives.”
Jairam Sridharan, MD & CEO, Piramal Finance said, “A focused push to enhance competitiveness, productivity, and employment in high-potential sectors such as biopharma, electronics, chemicals, and textiles—particularly across urban agglomerations beyond Tier-2 cities—aims to drive broad-based economic development. This should expand credit demand across a wider geographic footprint, supporting faster loan-book growth for NBFCs and commercial banks. In parallel, continued fiscal consolidation, with the fiscal deficit as a percentage of GDP expected to decline further in FY27, should enhance liquidity and help lower borrowing costs for private corporate borrowers. Debt markets will keenly observe the evolution of Government’s borrowing plan during the year though, which appears a bit inflated as far as gross borrowing is concerned.”
Alok Singh, Head of Treasury, CSB Bank added, “The budget 2026-27 focuses on inclusive growth by targeting all the core sectors. The three kartvyas and 6 strategies are well aligned to achieve the target of Viksit Bharat. The ten thousand crore fund for SME growth in conjunction with modification in TReDS platform can certainly help SMEs. The high-speed corridors with focus on Infra, Chemical and Rare Earth metals augur well for the future. The fiscal deficit consolidation continues. The gross borrowing at 17.2 lac crore is slightly higher than market expectations and may put a pressure on borrowing costs. The overall budget tries to address the future growth challenges keeping the changing global trade alignments in mind with a medium to long term perspective.”
Murthy Nagarajan, Head-Fixed Income, Tata Asset Management said, “The Net borrowing for next year is budgeted at Rs 11.70 lakh crores and Gross borrowing of Rs 17.2 Lakh crores. The Government is targeting a fiscal deficit of 4.3 percent of GDP. The government has shifted the goal post from fiscal deficit reduction of Debt to GDP ratio. Government has taken a prudent path as reduction of fiscal deficit can led to growth slowdown as global environment is not conductive to growth. Government is again doing the hard lifting with capital expenditure increased from Rs 11 to Rs 12.20 Lakh crores for the next financial year. The debt market expected net borrowing of Rs 11.5 Lakhs Crores and Gross borrowing of Rs 17 Lakh Crores assuming a fiscal deficit of 4.2 percent. The Debt market may open slightly negative due to higher borrowing programme.”
Varun Gupta, CEO, Groww Mutual Fund said, “The higher allocation to defence underscores the government’s twin priorities of strategic preparedness and domestic capability-building. Beyond immediate security needs, capital-led defence spending has a powerful economic multiplier—supporting indigenous manufacturing, technology development and skilled employment. A sustained shift towards domestically sourced defence capital can strengthen India’s strategic autonomy while creating durable growth opportunities across the broader industrial ecosystem.”
Vishal Bhatia, Chief Financial Officer, FincFriends, said, “The Budget’s announcement to review the banking sector through a high-level committee is an encouraging move for the entire credit ecosystem, including private NBFCs. A more stable and clearly governed banking framework improves liquidity flow, strengthens partnerships between banks and NBFCs, and enables faster last-mile credit delivery. The focus on technology-led credit expansion will particularly help private NBFCs scale responsibly, enhance underwriting, and reach underserved borrowers more efficiently. Over time, these measures can create a more balanced, collaborative financial system that supports sustainable growth beyond traditional banking channels.”
Prashanth T.S, President & Head – Mid-Corporates & Medium Enterprises Group, Axis Bank said, “The Budget meaningfully improves the growth runway for MSME banking in India. By expanding credit guarantee coverage and accelerating the adoption of digital receivables financing through TReDS, the government has eased two long-standing structural challenges—collateral dependence and delayed cash flows. This creates a stronger foundation for banks to scale MSME lending, deepen relationships with formalising enterprises, and support credit growth in a more calibrated and resilient manner. Over time, this can strengthen balance sheets and reinforce the role of MSMEs in driving India’s next phase of economic expansion.”
Balasubramanian A, Senior Vice President, TeamLease Services said, “Today’s budget signals a renewed emphasis on the services sector as a cornerstone of a Viksit Bharat, highlighted by the establishment of the High-Powered ‘Education to Employment and Enterprise’ Standing Committee. This committee will bridge the gap between classroom and career, ensuring our youth are future-ready to capture a 10% share of the global services market by 2047 up from <5% presently. This roadmap has the potential to drive a significant volume of job creation in the coming years, fueled by a surge in Global Capability Centres (GCCs) and digital exports. By this, the budget ensures that our trade deals with the EU, UAE, Oman, UK, New Zealand, and Australia translate directly into millions of high-value jobs for a skilled India on our road to Viksit Bharat.”
Nikhil Chopra, Chief Business Officer, Medi Assist said, “The Union Budget 2026-27 offers a robust blueprint for healthcare resilience. We see the ₹1,06,530 crore allocation (up nearly 10%) as a vital enabler for agile players in the ecosystem. Managing over ₹25,000 crore in premiums, we recognize that capital injections into NHM (₹39,390 crore) and AIIMS (₹11,307 crore), plus 20,000 new medical seats, will significantly stabilize the supply side, allowing for smoother claims processing and deeper insurance penetration. Moreover, the budget addresses the critical ‘last mile’ of care through workforce skilling. By targeting 10 disciplines to generate 1 lakh professionals and 1.5 lakh caregivers, the government is effectively validating the shift toward outpatient and home-based care. This infrastructure directly supports insurers as they expand into OPD-inclusive products, ensuring that healthcare accessibility keeps pace with demand.”
Rajesh K., CFP, Founder & CEO, BlissMoney Fintech Pvt. Ltd said, “After years of trade tensions, the United States and India have reached a long-awaited trade truce, marking a reset in bilateral economic relations. Under the truce, the US has agreed to roll back these punitive tariffs, restoring a more predictable and workable trade environment for Indian exporters. In return, India has offered improved market access for select US goods and signalled willingness to align more closely with US priorities on energy and strategic supply chains. Washington increasingly views India as a central partner in diversifying global supply chains away from over-dependence on China. The truce reflects this strategic logic rather than a full resolution of long-standing trade disputes. Structural differences on subsidies, market access, and industrial policy remain, but both sides have chosen stability over escalation.”
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