The Union Budget is the Government of India’s annual financial statement that outlines its revenue, expenditure, fiscal policies and economic priorities for the upcoming financial year.
Presented in Parliament, it sets the tone for growth, welfare spending, taxation and sectoral reforms across the country.
With the Union Budget set to be presented tomorrow (Feb 1), expectations are high from businesses, taxpayers and citizens alike.
The budget comes at a time when India is navigating global economic uncertainties while pushing for sustained domestic growth, job creation and infrastructure expansion.
Here are some pre-Budget views from across the industry:
“As India approaches the Union Budget, there is a strong expectation that higher education will receive focused support aligned with global competitiveness. Increased investment in interdisciplinary learning, digital infrastructure, and faculty development will be critical to preparing students for rapidly evolving job markets. Support for international collaborations and mobility will further strengthen India’s academic influence worldwide. The Budget should also emphasise affordability, stronger industry–academia linkages, research-driven education and skill-based education so that Institutions can contribute meaningfully to employability, innovation, and the long-term growth of India’s knowledge economy.” - Dr. Anita Patankar, Executive Director, Symbiosis Dubai
“With the Indian higher education system re-positioning itself in sync with NEP 2020, we anticipate an increased allocation of funds in Union Budget 2026 to make universities centres of advanced research and innovation. This should translate to increased investment in emerging areas to foster holistic development and to facilitate better synergy between industry and academia,” says Dr. Yajulu Medury, Vice Chancellor, Mahindra University.
“As India prepares for Budget 2026, my expectation would be for the higher education sector to be seen not merely as a social sector but as a strategic economic investment. The next phase of India’s growth will be driven by innovation, advanced manufacturing, creative industries and digital transformation. All of these depend on strong design and interdisciplinary education. We hope to see dedicated funding for design-led R&D, creative-technology labs, and industry-linked universities that translate knowledge into products, services and cultural exports. Supporting institutions that integrate design, technology, sustainability and entrepreneurship will help India move from being a cost-competitive economy to a globally competitive innovation economy.”
- By Dr. Sanjay Gupta, Vice Chancellor, World University of Design
From Fiscal Math to Medium-Term Vision: With economic stability in place, Budget 2026 should move beyond number-crunching and short-term fixes. It has a rare opportunity to focus on medium-term priorities that strengthen demand, investment and long-term growth.
Tax Relief to Protect Consumption: Inflation has eroded household purchasing power, turning unchanged income tax slabs into a silent tax hike. Rationalising slabs and raising exemptions, ideally indexed to inflation, is critical to sustaining consumption recovery.
Rebalancing Taxation of Savings: Preferential taxation of equities has weakened bank deposits that fund government borrowing. Lower taxes on long-term fixed deposit interest would stabilise household savings without undermining fiscal prudence.
Widening the Capex Net: Capital expenditure must extend beyond roads, railways and defence. Agriculture-led investments, including river interlinking projects, and PLI schemes for MSMEs with employment conditions can strengthen manufacturing and exports.
Shift Welfare Towards Capacity Building: The Budget should gradually pivot welfare spending toward health and education. While subsidies offer short-term relief, social infrastructure creates lasting economic capacity and long-term value.
Abhimanyu Saxena, Co-Founder, Scaler, speaking to Edexlive said the upcoming Union Budget should place skills at the centre of India’s growth agenda, particularly in an AI-driven economy where industries continue to face a shortage of future-ready talent. He emphasised the need for policies that encourage corporate investment in employee reskilling, tax incentives for individuals pursuing upskilling, and increased allocation for digital infrastructure to bridge the digital divide. Saxena also highlighted the importance of AI-powered education models to strengthen India’s position as a global talent hub and called for targeted support for Gen Z professionals through tax relief, affordable education financing and stronger backing for digital, startup and gig-economy careers.
As the Finance Minister prepares to present the Union Budget tomorrow, all eyes will be on how the government balances fiscal discipline with growth ambitions, while responding to the expectations of industries and citizens alike.
