Rajiv Poddar, former President of the Indian Merchants Chamber (IMC), has praised the Union Budget 2026 for its well-rounded approach, highlighting the government’s focus on maintaining fiscal discipline while promoting economic growth.
Speaking on the Budget, Poddar said, “The budget was well developed overall. The key highlight is maintaining the fiscal deficit. They have kept it at 4.4%, which is excellent.” He noted that the government’s ability to keep the fiscal deficit under control is commendable, especially given the increased spending and incentives allocated across various sectors.
One of the major positive aspects of the Budget, according to Poddar, is the substantial increase in capital expenditure. “The capital outlay has been increased by ₹1 lakh crore for the next financial year, showing the government’s commitment to infrastructure and long-term development,” he said. This boost in capital spending is expected to stimulate economic activity and generate employment.
Poddar also appreciated the government’s target to reduce the fiscal deficit further to 4.3% in the following year, indicating a clear roadmap toward fiscal consolidation. “Despite providing numerous incentives and services to different sectors, the government has managed to keep the deficit in check, which reflects prudent financial management,” he added.
Expressing optimism about the Budget’s impact, Poddar said it balances growth with fiscal responsibility, providing the necessary resources for public welfare and development projects. He emphasized that such a balanced approach would strengthen India’s economic position amid global uncertainties.
Overall, Poddar’s remarks mirror the sentiment of many in the business community who see the Union Budget 2026 as a forward-looking and stable framework to support India’s sustained economic progress.
