Union Budget 2026-27 Highlights: Industry Leaders Praise Push for Wellness, Gig Economy, Housing, Electronics & Digital Growth Toward Viksit Bharat
The Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman on February 1, 2026, marks a pivotal step in India’s journey toward Viksit Bharat 2047. With public capital expenditure raised to ₹12.2 lakh crore, fiscal deficit targeted at 4.3% of GDP, and initiatives like the ₹10,000 crore SME Growth Fund, expanded Electronics Components Manufacturing Scheme (₹40,000 crore), and focus on manufacturing, skilling, and inclusive reforms, the budget emphasizes infrastructure, job creation, and sectoral excellence.
Industry experts from health & wellness, gig economy, housing, electronics, and digital startups have welcomed these measures as catalysts for sustainable growth and global competitiveness.
Health, Wellness & Beauty Sector Gets Major Boost
The budget’s emphasis on a robust care ecosystem including five Medical Value Tourism Hubs, upgraded AYUSH facilities (with three new All India Institutes of Ayurveda), training 1.5 lakh multiskilled caregivers, and ‘Orange Economy’ support via AVGC labs creates new avenues for wellness tourism, aesthetic services, and MSMEs.
Dr. Aisshwarya Panddit, Founder and Celebrity Cosmetologist at Aura Edge Aesthetic, called it a watershed moment: “Budget 2026-27 marks a watershed moment for India’s health, wellness, and beauty industries. The Finance Minister’s emphasis on building a robust care ecosystem, coupled with significant investments in health infrastructure and services, creates unprecedented opportunities for our sector. The announcement of five Medical Value Tourism Hubs in partnership with the private sector directly positions India as a global destination for wellness and aesthetic services. This initiative, combined with upgraded AYUSH facilities including three new All India Institutes of Ayurveda and enhanced certification ecosystems, validates the growing convergence of traditional wellness and modern beauty solutions. The training of 1.5 lakh multiskilled caregivers through NSQF-aligned programs addresses our industry’s critical talent gap, while the establishment of Allied Health Professional institutions in ten disciplines will create a skilled workforce essential for premium wellness and beauty services. The focus on the ‘Orange Economy’ with AVGC Content Creator Labs demonstrates government recognition of digital innovation in beauty and wellness marketing. Additionally, improved ease of doing business measures including reduced TCS rates and streamlined compliance will significantly benefit wellness tourism and beauty product imports. The ₹10,000 crore SME Growth Fund and enhanced MSME support through TReDS particularly empowers our sector’s numerous small enterprises, from boutique wellness centers to artisanal beauty brands. This budget’s people-centric approach, combining infrastructure development with skill enhancement and entrepreneurial support, creates a fertile ecosystem for the health, wellness, and beauty sector to flourish as we march toward Viksit Bharat 2047.”
Gig Economy & Future Jobs Receive Formal Recognition
By extending social security, digital ID cards, and government services to gig workers, plus the National Digital Knowledge Grid linking education to employment and a ₹10,000 crore startup fund-of-funds, the budget empowers flexible, skills-based careers.
Mythri Kumar, Co-Founder of TimBuckDo, said: “The Union Budget 2026–27 takes a decisive step towards building Viksit Bharat jobs by formally recognising the gig economy as a critical pillar of India’s workforce. Measures such as social security coverage, digital ID cards and access to government services for gig workers bring long-awaited dignity, stability and inclusion to millions of independent professionals. The National Digital Knowledge Grid and education-to-employment focus will unlock new-age opportunities for creators, researchers, local experts, startups and MSMEs, creating a vibrant ecosystem of flexible, skills-driven jobs. Coupled with the ₹10,000 crore fund-of-funds for startups, the Budget strengthens the link between education, entrepreneurship and employability, laying the foundation for a future-ready workforce where gig and digital-first careers play a central role in India’s growth story.”
Housing & Urban Development Momentum Sustained
Sustained infrastructure outlays and stable financial frameworks support residential demand, with emphasis on predictable taxation to boost buyer confidence.
Pramod Kathuria, Founder & CEO of Easiloan, noted: “The Union Budget 2026 reinforces the significance of housing and urban development as a crucial agenda of India’s growth strategy. With sustained emphasis on infrastructure outlays and a stable financial structure, the overall framework for residential demand remains conducive. Clarity and predictability in taxation and interest rates can further enhance the confidence of homebuyers, especially first-time and end-use homebuyers. Policies that promote long-term homeownership and ensure transparency will go a long way in maintaining the momentum in the housing market.”
Electronics Manufacturing & Component Ecosystem Strengthened
Expansion of the Electronics Components Manufacturing Scheme to ₹40,000 crore and India Semiconductor Mission 2.0 reduces import dependence, stabilizes costs, and improves quality in consumer electronics and related sectors.
Mr. Varun Gupta, Co-Founder of Tracxn, explained: “Budget 2026–27 places attention on how electronics are built, not just how much is produced. The expansion of the Electronics Components Manufacturing Scheme to ₹40,000 crore and the rollout of India Semiconductor Mission 2.0 strengthen the component layer of the ecosystem. For the audio industry, components shape performance, power efficiency and product life, and they also influence cost stability. As component manufacturing develops locally, pricing is unlikely to fall immediately, but volatility reduces. Over time, brands gain the ability to hold price points steady while improving quality and durability. Alongside public capital expenditure of ₹12.2 lakh crore, this approach supports long-term manufacturing capacity. If executed consistently, it allows the industry to move beyond assembly volume toward building better products that deliver sustained value and wider access for users across the country.”
Digital India & Startup Growth Beyond Metros
Focus on affordable broadband in Tier II/III cities, industry-led skilling in AI/digital marketing, and incentives for local employment drives grassroots innovation.
Mr. Niraj Kacha, Founder & CEO of KiWeb Solution, shared: “As an industry founder working closely with MSMEs and startups, I believe India’s next phase of digital growth will depend on three fundamentals: robust internet infrastructure, practical AI and digital marketing education, and execution that extends well beyond metro cities. Budget 2026–27 has an opportunity to move Digital India from intent to impact by enabling affordable broadband in Tier II and III regions, supporting industry-led skilling programs, and incentivizing startups that create local digital employment. With the right policy push, India can evolve from a digital adoption market into a global talent engine powered by grassroots innovation.”
The Union Budget 2026-27 delivers a reform-oriented, execution-focused roadmap for inclusive prosperity, job creation, and sectoral leadership aligning perfectly with India’s ambitious Viksit Bharat vision by 2047.
Last Updated on: Tuesday, February 3, 2026 10:45 am by Republic Post Team | Published by: Republic Post Team on Tuesday, February 3, 2026 10:45 am | News Categories: India
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