Union Budget 2026-27: Industry Voices on MSME Support, Services Sector, Wellness, Skilling, and Crypto Reforms
The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on February 1, 2026, continues the focus on Yuva Shakti-driven growth, infrastructure push with capital expenditure at ₹12.2 lakh crore, fiscal discipline targeting a 4.3% GDP deficit, and targeted support for manufacturing, MSMEs via a dedicated ₹10,000 crore SME Growth Fund, healthcare infrastructure including new AIIMS and Ayurveda institutes, and compliance simplifications in direct taxes.
Leaders from communications, FMCG, creative education, crypto, and wellness sectors shared mixed yet constructive reactions, highlighting positives in MSME scaling, traditional healthcare, and trust-based compliance while calling for deeper recognition of services, GST rationalization, grassroots skilling access, and crypto loss offsets.
MSME Growth Fund Sparks Optimism, But Services Seek More Tailored Support
Unnati Gala, Founder & CEO, Chakrum Brand Communications, appreciated the broad economic momentum but noted gaps for knowledge-intensive services:
“Budget 2026 continues to prioritise infrastructure, manufacturing and MSME growth, which is encouraging for overall economic momentum. However, the service sector particularly knowledge-led industries such as public relations, brand strategy, and communications would benefit from more direct policy recognition. As India positions itself as a global manufacturing and export hub, strategic communication and reputation management become critical enablers of business growth. The proposed MSME Growth Fund and sectoral expansion measures will indirectly stimulate demand for professional services, but incentives supporting digital services exports, skill development in communication technologies, and rationalised compliance frameworks for service-led enterprises would further strengthen the ecosystem. The service economy is a major contributor to India’s GDP. Future budgets could look at structured support for high-value, intellectual-capital-driven industries that help Indian brands compete globally.”
FMCG Sector Welcomes MSME Capital but Calls for GST Relief and Rural Revival
Yashmit Gala, CEO, Galaji Spices, emphasized the need for immediate relief in a consumption-driven category:
“Ahead of Budget 2026, the FMCG sector was hoping for stronger measures around GST rationalisation, easing of compliance for MSMEs, and demand-side stimulus to revive rural consumption. The announcement of the ₹10,000 crore MSME Growth Fund is a positive step toward enabling scale and competitiveness for small and mid-sized manufacturers. Access to structured growth capital can help regional brands modernise operations, strengthen supply chains, and invest in technology. However, for the FMCG sector rationalisation of GST slabs and correction of inverted duty structures would have provided more immediate working capital relief and pricing flexibility. Rural demand revival remains critical for sustained volume growth in our category. Going forward, continued focus on ease of doing business, export facilitation for Indian food products, and stable input cost structures will be essential to help domestic manufacturers compete globally while strengthening India’s position as a trusted food processing hub.”
Healthcare and Creative Education: Infrastructure Positive, But Skilling Access Key
Mr. Sunny Bhanushali, Founder, Aliens Tattoo Studio & School, praised new institutions while stressing grassroots enablement:
“Budget 2026 made significant announcements with new AIIMS, Ayurveda institutes, and a national design school all important steps toward strengthening healthcare and creative education infrastructure. However, alongside building institutions, there should have been a stronger and more direct focus on skilling and credit-linked livelihood support. Infrastructure creates opportunity, but access creates impact. In our experience at Aliens School, several students from credit-constrained communities have turned out to be exceptional artists when given structured training and financial support. What many talented individuals need is not just institutions but accessible skilling pathways and affordable credit to turn talent into sustainable income. In my opinion, future budgets must look beyond expansion and actively enable grassroots talent to participate in India’s growth story.”
Crypto Sector Sees Progress in Compliance but Awaits Loss Offset Parity
Punit Agarwal, Founder & CEO, KoinX, highlighted steps toward practical taxation:
“Budget 2026 is a step towards more practical and trust-based compliance. Decriminalising minor offences and simplifying assessment and penalty proceedings recognises that most crypto tax issues stem from complexity, not intent. Allowing taxpayers to update returns even after reassessment is especially relevant for crypto, where reconciliation often happens late due to high transaction volumes. The one-time foreign asset disclosure window and extended revision timelines will reduce fear and encourage voluntary compliance, particularly for small and first-time investors. That said, the ecosystem was hoping for progress on allowing loss offset for crypto transactions, which would have brought parity with other asset classes and reflected economic reality. Overall, the direction is positive, and continued refinement will be key as digital asset adoption grows.”
Wellness and Ayurveda Get Boost from Institutes and Caregiver Training
Radhika Iyer Talati, Wellness Expert, Ayurveda Practitioner & Founder, Anahata Organic, welcomed the preventive healthcare thrust:
“Budget 2026 signals a meaningful shift toward strengthening India’s wellness and traditional healthcare ecosystem. The announcement of three new Ayurveda institutes, National Mental Health Institutes in Northern India, and the plan to train 1.5 lakh caregivers for wellness, yoga, and operational services reflects a clear recognition of preventive and integrative healthcare as a national priority. Ayurveda has always emphasised the interconnectedness of physical, emotional, and mental wellbeing. Expanding institutional capacity alongside building a trained caregiver workforce can generate employment while enabling accessible, community-based care especially at a time when mental health challenges are rising across demographics. The proposed ₹10,000 crore SME Growth Fund further strengthens this direction. For Ayurveda-led enterprises, particularly those focused on exporting high-quality wellness products, this presents an opportunity to scale responsibly and position India as a credible global leader in traditional and plant-based healthcare.”
The Union Budget 2026-27 builds on structural reforms to foster inclusive, resilient growth under Viksit Bharat, with strong emphasis on youth empowerment, manufacturing ecosystems, and sectoral modernization. Industry feedback underscores appreciation for foundational measures like the SME Growth Fund and healthcare expansions, while advocating for nuanced support in services, consumption revival, equitable skilling, and digital asset fairness to fully unlock India’s economic potential.
Last Updated on: Tuesday, February 3, 2026 11:31 am by BUSINESS SAGA TEAM | Published by: BUSINESS SAGA TEAM on Tuesday, February 3, 2026 11:31 am | News Categories: Business Saga News
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