PHDCCI Bulletin Vol. 48 No. 1 January 2026

Abstract

The Chamber expects the upcoming Union Budget for FY 2026–27 to reinforce a public investment-led growth strategy, with a strong and front-loaded push to government capital expenditure to address global uncertainty, revive demand, crowd in private investment, and generate employment. Priority sectors should include infrastructure, manufacturing and MSMEs, agriculture and rural assets, health, education, digital capacity, and clean energy—areas with high fiscal multipliers and long-term productivity benefits