The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, is set to present the budget 2026 on February 1. Sitharaman will present her ninth consecutive budget this year, second only to Morarji Desai, who presented 10 budgets.

Many industry leaders have set high expectations for the budget. Here are some of the expectations by corporate leaders across sectors:

Shishir Joshi, Founder and CEO, Project Mumbai, and Convenor, Mumbai Climate Week

India’s growth story is inextricably linked to its urban centres, which contribute most of our GDP. To sustain this economic momentum, climate adaptation cannot be an afterthought; it must be central to our development. However, the needs of a coastal hub like Mumbai differ vastly from the challenges in Patna or Bengaluru, which is why solutions must be designed and delivered locally.

Budget 2026 has the opportunity to support this by shifting from prescriptive schemes to flexible, outcome-based finance. This would empower cities to improve air quality, ensure water security, and upgrade infrastructure in ways that suit their specific context

For the private sector, this is critical because it de-risks investment and opens the door for green bonds and blended finance to flow into urban infrastructure. The fiscal instruments already exist; what is needed now is a framework that gives confidence that well-performing cities will be recognised and supported over time.​

Umang Shukla, Co-founder and CEO, Edgistify

For the upcoming Union Budget 2026, we anticipate targeted policy support to strengthen India’s logistics and supply chain ecosystem, including incentives for technology adoption, expedited clearances for warehousing projects, and subsidies for dark stores and last-mile delivery infrastructure.

Initiatives such as facilitating digital logistics data platforms, supporting air cargo and warehousing infrastructure, and enhancing access to logistics information were introduced to boost efficiency. However, modern logistics firms still face challenges around regulatory clarity, fragmented land and warehousing approvals, and high operating costs.

Edgistify hopes to see tax incentives for technology-driven supply chain solutions, streamlined approvals for warehousing and logistics parks, and support for hyper-local delivery infrastructure. In addition to these reforms, the government can provide GST relaxation for Warehousing and APOB to simplify multi-state operations. Furthermore, the TDS rate, which is currently 2% for many logistics service providers under section 194C, can be reduced to improve liquidity and cash flow in the industry. These reforms will accelerate formalisation, lower costs, and strengthen India’s position as a global logistics hub.

Shishir Agarwal, President and Managing Director, Terumo India

As healthcare needs grow more complex, India’s reliance on advanced medical technologies continues to increase, particularly in critical care settings. Nearly 70% of medical devices used in the country, especially across critical care, infusion therapy and advanced medication management, continue to be imported as domestic capabilities evolve. 

Ensuring timely access to proven global technologies, supported by efficient customs and regulatory processes, is essential for uninterrupted patient care. At the same time, broader insurance coverage for complex and specialised procedures can help make advanced therapies more accessible. Continued investment in reskilling doctors is equally important, so that innovation translates into better clinical outcomes. Together, these measures can meaningfully strengthen India’s healthcare ecosystem.

Girish Rowjee, Co-founder & CEO, greytHR

As we approach Union Budget 2026–27, the spotlight shifts from policy announcement to ground-level practice. With the historic notification of the four Labour Codes in late 2025, India stands at a critical execution phase – one that will redefine the employer–employee relationship.

For MSMEs, this transition is the biggest challenge of the year. Our hope is that the Budget prioritises ‘compliance infrastructure’ over mere regulation. We need specific incentives for small businesses to adopt digital payroll and HR tools, ensuring the shift to the new wage and social security norms is intuitive, not intimidating.

Furthermore, rationalising GST for labor services and simplifying audit thresholds will provide immediate relief to operational cash flows. As an HR tech platform trusted by over 30,000 businesses, greytHR sees technology as the bridge between complex regulation and confident execution. This Budget is an opportunity to unlock India.

Ram Patrudu, Co-founder, Trovity Insurtech & Mad Over Insurance

As India moves toward Viksit Bharat 2047, insurance must be reimagined as national protection infrastructure, not merely a financial product. Budget 2026 can play a defining role by allocating focused support for insurance inclusion, AI-driven underwriting, digital claims ecosystems, and interoperable data frameworks. Structural reforms such as composite licensing and innovation-linked incentives can significantly improve affordability and penetration across life, health, and general insurance. 

With the right policy direction, insurance can shift from reactive compensation to proactive protection, empowering citizens, strengthening businesses, and building long-term economic resilience for India.

Rahul Garg, Founder & CEO Moglix

As India approaches the Union Budget on 1 February, the global landscape defined by shifting trade blocs and evolving tariff structures demands a pivot from resilience to dominance. Geography may be in flux, but capability is what endures. To achieve the Viksit Bharat vision, the Budget must move beyond basic incentives to deepen our industrial roots. We need targeted support for MSMEs to integrate into global value chains, alongside fiscal frameworks that accelerate green manufacturing and technological self-reliance in defence and electronics. By strengthening our logistics backbone and incentivizing domestic R&D, we can transform global volatility into a competitive edge for Indian industry.

Harsh Jagwani, Managing Director, Notandas Realty

The Union Budget 2026-27 will be an opportune time for the Indian government to continue the growth momentum for the real estate sector, brought about by the previous year’s reforms. The year 2025 witnessed the growing demand and sales of premium urban housing units across the pan India regions. With growing aspiration and changing lifestyle of Indian consumers, the government should focus on policies and reforms that encourage homebuyers and developers in the luxury real estate segment. 

There is an emerging demand among consumers to buy mid-premium and premium segment homes compared to affordable housing units and this is going to further increase in the segment of luxury estates. Thereby, the government needs to look at encouraging this trend in the form of digital registration, liquidity and regulatory comforts for housing finance channels as well as policies that encourage institutional investments in the real estate sector. Furthermore, the budget should also focus on incentive-led policies and encouragement for Global Capability Centers (GCCs) to help in driving the momentum for the commercial real estate market. 

With more global companies entering the Indian market, it will drive demand for premium office spaces which in turn will help in the robust growth of the Indian real estate sector for years to come.