As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2026-27 on February 1, 2026, at 11 AM, leaders from commercial furniture manufacturing, pharmaceuticals, professional education/skilling, and real estate are calling for targeted fiscal and policy reforms to boost domestic production, innovation, lifelong learning, and housing demand.
Key expectations include GST rationalisation on furniture inputs, skilling/upskilling programmes, and renovation services; capability-building incentives for complex generics and advanced formulations; removal of 18% GST on professional education courses; enhanced tax deductions for home loans and construction inputs; and procedural simplifications to support MSME-led growth across these interconnected sectors.
Maanoj Tomar, Founder, AFC Furniture Solutions:
“Union Budget 2026 has the opportunity to strongly back India’s commercial furniture manufacturing ecosystem. As offices, IT parks, and industrial infrastructure expand across the country, there is a growing need for high-quality, durable, and ergonomically designed furniture made in India. Policy support through GST rationalisation, easier access to capital, and incentives for factory modernisation will help Indian brands compete with imports and scale globally. A clear focus on Make in India furniture will not only strengthen manufacturing but also support the future of workspaces being built across the nation.”
Chandrachur Datta, Partner, Vector Consulting Group:
“Indian pharmaceutical firms are shifting toward complex generics. In FY2025, over 100 ANDA filings targeted complex drugs, reflecting sharper product selection and higher development intensity. As complexity rises, the industry’s binding constraint shifts from manufacturing scale to development capability. At this stage, talent, tools, and applied research determine outcomes. The Budget should complement existing PLI schemes with capability-building incentives. A semiconductor-style approach can be adopted, targeting 50–100 institutions with shared development tools, PRIP-backed Centres of Excellence across NIPERs, and nationwide skilling of 40,000–60,000 professionals over the next decade in advanced formulations, biologics, and regulatory science. This would anchor access to complex-drug prototyping and advanced biomanufacturing training at scale.”
Vivek K Singh, CMD, SNVA Veranda:
“As an educationist, I believe the upcoming Union Budget has a critical role to play in strengthening India’s position in the global knowledge and digital economy. Education, especially skilling and upskilling, must be viewed as a long-term national investment rather than a taxable service. In a rapidly evolving job market driven by technology and innovation, continuous learning is essential for economic growth and workforce competitiveness. One of the key expectations is the removal of the 18% GST on all skilling and upskilling programs for working professionals. Courses in IT, artificial intelligence, data science, management, finance, and other professional domains are no longer optional they are essential for career progression and national productivity. Taxing such programs discourages lifelong learning and limits access. 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. Finally, the government should allow a 100% income-tax deduction on expenses incurred by working professionals for skilling, upskilling, and professional education. This would incentivize continuous learning, encourage self-driven talent development, and reduce dependence on public employment. A progressive education-focused Budget can empower India’s workforce, attract global investment, and position the nation as a true knowledge economy.”
Manan Joshi, Founder, Sarvam Properties:
“As India approaches the Union Budget 2026-27, Sarvam Properties hopes the Finance Minister will deliver a forward looking Budget that strengthens homeownership and boosts real estate investment. With affordability still a key challenge for homebuyers, we urge measures that enhance tax incentives on home loans and related deductions, helping more middle income families realise the dream of owning a home. Tax relief geared toward home loan interest, rationalisation of GST for construction inputs, and expanded benefits for affordable housing will be vital to stimulate demand and revive stalled projects creating deeper market confidence and unlocking growth across urban and emerging regions. We also support the broader push for economic resilience and future competitiveness, where policies that encourage infrastructure development, improve ease of project approvals, and advance digital and construction technology adoption will strengthen both supply and investment flows across the real estate sector. A Budget that combines tax relief, affordability measures, and growth incentives will not only benefit homebuyers but also sustain the sector as a dynamic engine of employment and economic activity.”
Navin Dhanuka, Director, ArisUnitern RE Solutions:
“As India heads into Budget 2026–27, the real estate sector will benefit most from a stable, forward-looking policy framework that prioritises infrastructure development, ease of execution, and regulatory clarity. Measures such as rationalisation of taxes on construction inputs, faster approvals, and improved access to housing finance can meaningfully strengthen supply-side confidence. Coupled with income-tax reforms that enhance household purchasing power, Budget 2026 can unlock housing demand, support planned urban expansion, and drive sustainable, long-term growth.”
Bhavesh Kothari, Founder & CEO, Property First:
“Budget 2026 presents a timely opportunity to strengthen India’s housing led growth story by empowering end consumers and improving capital flow into real assets. We expect continued policy focus on affordable and mid income housing through enhanced tax benefits on home loans, rationalisation of long term capital gains, and easier access to institutional credit for developers. Clearer financing norms, infrastructure led incentives, and faster approval mechanisms for projects will unlock demand in emerging growth corridors, especially among first time buyers and self build homeowners. A sustained push on infrastructure spending, digitisation of land records, and GST rationalisation for construction inputs will further improve transparency, reduce costs, and accelerate project completion timelines. A stable, growth oriented Budget can reinforce real estate’s role as a long term wealth creator while aligning housing demand with India’s evolving aspirations.”
These expert perspectives reflect a common theme for the Union Budget 2026: deliver GST rationalisation across manufacturing inputs, skilling services, and construction; capability-building incentives for high-value sectors like pharma and furniture; tax deductions for lifelong learning and homeownership; and policy stability to unlock domestic manufacturing, workforce competitiveness, and sustainable urban growth. Such balanced reforms could significantly enhance employment, innovation, affordability, and India’s self-reliant economic trajectory.
Last Updated on: Friday, January 23, 2026 6:11 pm by BUSINESS SAGA TEAM | Published by: BUSINESS SAGA TEAM on Friday, January 23, 2026 6:11 pm | News Categories: Business News Today
About The Author
Leave a Reply