Union budget for FY27 to boosts growth, MSMEs and job creation: PHDCCI

The FY27 budgets growth-focused measures for MSMEs, infrastructure, innovation and sustainability would create new business opportunities and generate employment, an industry body said. Focused support for MSMEs, infrastructure, innovation and sustainability would create new business opportunities and generate employment, Bansal said.

The FY27 budget's growth-focused measures for MSMEs, infrastructure, innovation and sustainability would create new business opportunities and generate employment, an industry body said. Growth-focused measures announced in the annual budget for the next financial year would significantly improve industry sentiment and investor confidence, said Rajneesh Bansal, Chair, Chandigarh Chapter, PHDCCI. Finance Minister Nirmala Sitharaman on Sunday presented the Union budget for the financial year 2026-27 in Parliament. The PHD Chamber of Commerce and Industry (PHDCCI) described the budget as growth-oriented and forward-looking that strengthens economic prospects while maintaining fiscal prudence. Focused support for MSMEs, infrastructure, innovation and sustainability would create new business opportunities and generate employment, Bansal said. Karan Gilhotra, Chair, Punjab State Chapter, PHDCCI, said the budget reflects a balanced approach towards growth, fiscal discipline and inclusive development. He welcomed the increase in capital expenditure to Rs 12.2 lakh crore, stating that it would strengthen infrastructure, logistics and connectivity, directly benefiting Punjab. The Rs 10,000 crore SME Growth Fund and focus on ''Champion MSMEs'' would give a major boost to Punjab's light engineering and bicycle industries, he said, adding that initiatives supporting agriculture, diversification, skilling and youth employment would also enhance farm incomes and strengthen Punjab's workforce. Bharti Sood, Senior Regional Director, PHDCCI, said that the Corporate Mitras initiative is an important step in providing affordable regulatory and compliance support to MSMEs, particularly in Tier-II and Tier-III regions. Satish Dev Jain, Chair, Haryana State Chapter, PHDCCI, said the Union Budget 2026-27 presents a forward-looking vision aligned with Haryana's strengths in healthcare, manufacturing and technology. He said the focus on biopharma, MSME growth, container manufacturing, semiconductor mission and AI capacity building would strengthen Haryana's industrial, logistics and IT ecosystem.

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