Budget 2026 boosts the foundation for sustained economic growth says Pawan Goenka

Pawan Goenka, Chairman of the Indian National Space Promotion and Authorization Centre and SCALE Committee, Government of India
| Photo Credit:
SUDHAKARA JAIN

The Union Budget 2026 has built on the strong foundations that are required to build and sustain strong economic growth, according to Pawan Goenka, Chairman of the Indian National Space Promotion and Authorization Centre and SCALE Committee, Government of India on the Union Budget 2026.

“With wide-ranging reforms across sectors and a focus on manufacturing, including a boost to creating Champion MSMEs, and infrastructure reflects an understanding that scale and resilience are built through stable policy and institutional support,” he said in a statement.

Goenka added that the simplification of tax processes, decriminalisation of compliance-related provisions, and GST rationalisation will ease adherence, improve predictability for businesses and encourage entrepreneurship.

The proposal to establish dedicated Rare Earth Corridors across mineral-rich states is a timely step towards securing critical materials, strengthening domestic value chains, and reducing strategic dependencies,” he said.

The budget has proposed to support mineral rich states such as Odisha, Kerala, Andhra Pradesh, and Tamil Nadu to establish dedicated rare earth corridors.

At the same time, targeted customs duty exemptions to support domestic manufacturing and supply-chain integration will further contribute to a more competitive, resilient economy where businesses can invest with confidence and plan for the long term, he added.

Published on February 1, 2026