Industry bodies in Northeast hail Union Budget 2026–27 as balanced, growth-oriented
Guwahati: Local industry body, Federation of Industry and Commerce of North East Region (FINER)has expressed its satisfaction with the Union Budget 2026–27, describing it as a well-balanced, growth- oriented budget that addresses the needs of industry while maintaining fiscal discipline.
FINER has particularly welcomed the government’s persistence on reform over rhetoric, and its maintaining fiscal discipline bedrock. The glide path of fiscal consolidation has been maintained as targeted. The government has balanced fiscal consolidation with highest-ever capital expenditure of Rs 12.2 lakh crore, which is commendable. The measures in the budget will provide a strong impetus to infrastructure creation, investment, and job generation. The focus on MSMEs, including the creation of champion SMEs and the proposed Rs 10,000 crore SME Growth Fund, is expected to improve access to finance and strengthen the backbone of the economy.
The Budget’s emphasis on manufacturing and technology, through initiatives such as three dedicated Chemical Parks, expansion of the Semiconductor Mission (ISM 2.0), establishment of Hi-Tech Tool Rooms, and duty exemptions for lithium-ion cell manufacturing, will enhance domestic manufacturing capabilities and promote import substitution.
FINER also appreciated the continued support for textiles, handloom, handicrafts, and khadi, along with targeted skilling initiatives such as Samarth 2.0, which will boost employment, particularly in rural and semi-urban areas. Measures to strengthen tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages are expected to support balanced regional development.
From a macro-economic perspective, FINER welcomed the government’s commitment to fiscal consolidation, declining debt-to-GDP ratio, and improved compliance through rationalisation of TCS rates, extension of timelines for income tax return revisions, and other tax reforms.
Overall, FINER believes that the Union Budget 2026–27 provides a positive and enabling policy environment for industries across sectors and regions, including the North Eastern Region, and will contribute significantly to inclusive and sustainable economic growth.
The North East India Regional Council of Indian Chamber of Commerce (ICC) has expressed their appreciation for the Union Budget. ICC find it to be a budget with an emphasis on growth, inclusiveness and being forward thinking. ICC feel that this is a budget that will encourage the overall development of the North East Region in India.
ICC noted that the Union Budget 2026–27 adopts the Ashtalakshmi development model for the North East India, positioning the region as a multi-dimensional growth engine through focused investments in connectivity, tourism, infrastructure, agriculture, healthcare and industrial development, thereby strengthening its role as a civilizational confluence and an emerging economic hub.
Mahesh Saharia, Chairman - North East India Regional Council of Indian Chamber of Commerce (ICC) stated that the budget for fiscal year 2026 - 2027 has established a sound proposition to promote greater socio-economic advancement within the North-eastern region through increased capital investment by government agencies; stimulating tourism through increased levels of interest; increasing levels of commerce and trade through improved access to goods between different locations; increasing levels of agriculture and food production through various reforms and initiatives; and providing ongoing assistance to MSMEs throughout the area.
Saharia welcomed the announcement of a new scheme for the development of Buddhist circuits across six North Eastern states - Arunachal Pradesh, Assam, Manipur, Mizoram, Sikkim and Tripura aimed at positioning the region as a major spiritual and cultural tourism destination. The initiative encompasses conservation of monasteries and heritage structures, establishment of pilgrimage interpretation centres, enhancement of pilgrim amenities, and improved access infrastructure, thereby promoting year-round tourism while preserving the region’s rich Buddhist legacy.
Saharia also appreciated the proposed high-speed rail link connecting Siliguri to Varanasi and announcement of deployment of 4,000 electric buses across the North Eastern Region, which will significantly strengthen public transport systems, improve last-mile connectivity, and support environmentally sustainable mobility for both residents and tourists. He noted that the combined focus on heritage-led tourism and green infrastructure reflects a balanced and future-ready development strategy for the region.
Saharia welcomed the 47 percent increase in allocation for the Ministry of Development of Northeastern Region (DoNER), taking the total allocation to Rs 5,915 crore. He stated that this enhanced funding will play a crucial role in strengthening infrastructure, social development, and economic capacity across the Northeast.
He further welcomed the emphasis on industrial and rural growth under the Purvodaya initiative, including targeted interventions and special packages for Autonomous Councils, along with support for agriculture-based initiatives and rural value chains. These measures, he noted, will help deepen local economic activity and promote inclusive development across both urban and rural areas.
The continued focus on improving physical and logistical connectivity within the Northeast and with the rest of the country was also welcomed, as it will facilitate smoother movement of people and goods, improve market access, and enhance the region’s integration with national and global value chains.
Sarat Kumar Jain, Chairman - Assam and Meghalaya State Committee of Indian Chamber of Commerce (ICC) welcomed the Union Budget 2026–27 as a decisive step toward strengthening India’s economic resilience while ensuring balanced regional growth. He highlighted the Budget’s emphasis on tourism, infrastructure, healthcare, education, skilling, exports and technology-driven growth as especially significant for the Northeastern Region.
Jain noted that the focused push on spiritual tourism, green mobility and connectivity would position the Northeast India as a sustainable and competitive destination, while investments in education, skill development and innovation would prepare the region’s youth to participate meaningfully in emerging sectors.
Jani welcomed the decision to upgrade national mental health institutes in Tezpur and Ranchi as regional apex centres, noting that strengthening healthcare infrastructure in the Northeast will play a vital role in addressing emerging public health challenges and improving access to specialised care.
Tea Association of India stated the Tea Industry is thankful to the Finance Minister, for extending the provision of Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY) for one more year, which was introduced for the period of FY 2024-25 and 2025-26 with an outlay of 1000 crore to provide for the welfare of Tea workers especially women and their children in Assam and West Bengal. The implementation period now has been extended further for one more year i.e. 2026-27. The scheme is aimed at making need-based interventions in tea garden areas for, inter-alia, strengthening provisions of education and health services to the tea workers.
The Tea Industry is also delighted as the Budget also takes care for provision for providing Social Security for Plantation Workers in Assam: (Demand for grants). The provision covers family pension-cum-life insurance benefits for plantation workers in Assam through the Deposit Linked Insurance Scheme for tea plantation workers. These schemes are implemented by the Government of Assam for workers governed under the Assam Tea Plantation Provident Fund and Family Pension and Employees Deposit Linked Insurance Act. The provision includes the Central Government’s contribution to the scheme as well as reimbursement of administrative charges, ensuring social security and financial protection for plantation workers and their families.
FINER has particularly welcomed the government’s persistence on reform over rhetoric, and its maintaining fiscal discipline bedrock. The glide path of fiscal consolidation has been maintained as targeted. The government has balanced fiscal consolidation with highest-ever capital expenditure of Rs 12.2 lakh crore, which is commendable. The measures in the budget will provide a strong impetus to infrastructure creation, investment, and job generation. The focus on MSMEs, including the creation of champion SMEs and the proposed Rs 10,000 crore SME Growth Fund, is expected to improve access to finance and strengthen the backbone of the economy.
The Budget’s emphasis on manufacturing and technology, through initiatives such as three dedicated Chemical Parks, expansion of the Semiconductor Mission (ISM 2.0), establishment of Hi-Tech Tool Rooms, and duty exemptions for lithium-ion cell manufacturing, will enhance domestic manufacturing capabilities and promote import substitution.
FINER also appreciated the continued support for textiles, handloom, handicrafts, and khadi, along with targeted skilling initiatives such as Samarth 2.0, which will boost employment, particularly in rural and semi-urban areas. Measures to strengthen tourism, urban infrastructure, high-speed rail corridors, and education-to-employment linkages are expected to support balanced regional development.
From a macro-economic perspective, FINER welcomed the government’s commitment to fiscal consolidation, declining debt-to-GDP ratio, and improved compliance through rationalisation of TCS rates, extension of timelines for income tax return revisions, and other tax reforms.
Overall, FINER believes that the Union Budget 2026–27 provides a positive and enabling policy environment for industries across sectors and regions, including the North Eastern Region, and will contribute significantly to inclusive and sustainable economic growth.
The North East India Regional Council of Indian Chamber of Commerce (ICC) has expressed their appreciation for the Union Budget. ICC find it to be a budget with an emphasis on growth, inclusiveness and being forward thinking. ICC feel that this is a budget that will encourage the overall development of the North East Region in India.
ICC noted that the Union Budget 2026–27 adopts the Ashtalakshmi development model for the North East India, positioning the region as a multi-dimensional growth engine through focused investments in connectivity, tourism, infrastructure, agriculture, healthcare and industrial development, thereby strengthening its role as a civilizational confluence and an emerging economic hub.
Mahesh Saharia, Chairman - North East India Regional Council of Indian Chamber of Commerce (ICC) stated that the budget for fiscal year 2026 - 2027 has established a sound proposition to promote greater socio-economic advancement within the North-eastern region through increased capital investment by government agencies; stimulating tourism through increased levels of interest; increasing levels of commerce and trade through improved access to goods between different locations; increasing levels of agriculture and food production through various reforms and initiatives; and providing ongoing assistance to MSMEs throughout the area.
Saharia welcomed the announcement of a new scheme for the development of Buddhist circuits across six North Eastern states - Arunachal Pradesh, Assam, Manipur, Mizoram, Sikkim and Tripura aimed at positioning the region as a major spiritual and cultural tourism destination. The initiative encompasses conservation of monasteries and heritage structures, establishment of pilgrimage interpretation centres, enhancement of pilgrim amenities, and improved access infrastructure, thereby promoting year-round tourism while preserving the region’s rich Buddhist legacy.
Saharia also appreciated the proposed high-speed rail link connecting Siliguri to Varanasi and announcement of deployment of 4,000 electric buses across the North Eastern Region, which will significantly strengthen public transport systems, improve last-mile connectivity, and support environmentally sustainable mobility for both residents and tourists. He noted that the combined focus on heritage-led tourism and green infrastructure reflects a balanced and future-ready development strategy for the region.
Saharia welcomed the 47 percent increase in allocation for the Ministry of Development of Northeastern Region (DoNER), taking the total allocation to Rs 5,915 crore. He stated that this enhanced funding will play a crucial role in strengthening infrastructure, social development, and economic capacity across the Northeast.
He further welcomed the emphasis on industrial and rural growth under the Purvodaya initiative, including targeted interventions and special packages for Autonomous Councils, along with support for agriculture-based initiatives and rural value chains. These measures, he noted, will help deepen local economic activity and promote inclusive development across both urban and rural areas.
The continued focus on improving physical and logistical connectivity within the Northeast and with the rest of the country was also welcomed, as it will facilitate smoother movement of people and goods, improve market access, and enhance the region’s integration with national and global value chains.
Sarat Kumar Jain, Chairman - Assam and Meghalaya State Committee of Indian Chamber of Commerce (ICC) welcomed the Union Budget 2026–27 as a decisive step toward strengthening India’s economic resilience while ensuring balanced regional growth. He highlighted the Budget’s emphasis on tourism, infrastructure, healthcare, education, skilling, exports and technology-driven growth as especially significant for the Northeastern Region.
Jain noted that the focused push on spiritual tourism, green mobility and connectivity would position the Northeast India as a sustainable and competitive destination, while investments in education, skill development and innovation would prepare the region’s youth to participate meaningfully in emerging sectors.
Jani welcomed the decision to upgrade national mental health institutes in Tezpur and Ranchi as regional apex centres, noting that strengthening healthcare infrastructure in the Northeast will play a vital role in addressing emerging public health challenges and improving access to specialised care.
Tea Association of India stated the Tea Industry is thankful to the Finance Minister, for extending the provision of Pradhan Mantri Cha Shramik Protsahan Yojana (PMCSPY) for one more year, which was introduced for the period of FY 2024-25 and 2025-26 with an outlay of 1000 crore to provide for the welfare of Tea workers especially women and their children in Assam and West Bengal. The implementation period now has been extended further for one more year i.e. 2026-27. The scheme is aimed at making need-based interventions in tea garden areas for, inter-alia, strengthening provisions of education and health services to the tea workers.
The Tea Industry is also delighted as the Budget also takes care for provision for providing Social Security for Plantation Workers in Assam: (Demand for grants). The provision covers family pension-cum-life insurance benefits for plantation workers in Assam through the Deposit Linked Insurance Scheme for tea plantation workers. These schemes are implemented by the Government of Assam for workers governed under the Assam Tea Plantation Provident Fund and Family Pension and Employees Deposit Linked Insurance Act. The provision includes the Central Government’s contribution to the scheme as well as reimbursement of administrative charges, ensuring social security and financial protection for plantation workers and their families.
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