Kolkata, Feb 1 (PTI) Industry bodies and corporate leaders in West Bengal on Sunday welcomed the Union Budget 2026-27, terming it forward-looking and confidence-building, with a strong thrust on infrastructure, manufacturing and MSMEs, while maintaining fiscal discipline.

The Confederation of Indian Industry (CII) said the Budget signals policy continuity and long-term vision, noting that the fiscal deficit target of 4.3 per cent of GDP for FY'27 aligns with the recommended glide path and reinforces macroeconomic stability amid global uncertainty.

CII particularly welcomed measures to strengthen MSMEs, including the proposed Rs 10,000 crore SME Growth Fund, expansion of the Self-Reliant India Fund and liquidity initiatives such as mandatory TReDS, enhanced credit guarantees and receivables securitisation.

It also flagged announcements on three chemical parks, Biopharma Shakti with an outlay of Rs 10,000 crore, and Rs 20,000 crore for carbon capture technologies as supportive of domestic manufacturing and sustainability.

Industry leaders highlighted the Rs 2.81 lakh crore allocation for Railways, calling it a major boost to infrastructure, capacity expansion and passenger safety.

The proposed seven high-speed rail corridors, especially the Varanasi-Siliguri one, were described as transformative for West Bengal and the eastern region by improving connectivity, trade and tourism.

The proposed dedicated freight corridor from Dankuni to Surat and the Rs 10,000 crore container manufacturing scheme were also seen as game changers for logistics and supply chains in the East.

In addition, the enhanced allocation of Rs 5,164.8 crore for ports, shipping and waterways is expected to aid maritime-led growth.

Shashwat Goenka, chairman of the CII Eastern Region, and vice chairman of the R P Sanjiv Goenka Group, said, "The consistency and policy stability in the Budget provide long-term visibility to businesses. The focus on balanced regional development, especially the Purvodaya states, is encouraging. The three-pronged approach for MSMEs -- liquidity, equity and professional support -- will help create champion enterprises." He added that the proposed East Coast Industrial Corridor with a well-connected node at Durgapur and induction of 4,000 e-buses for industrial corridors would strengthen the eastern growth engine and support sustainable mobility.

Mehul Mohanka, CII Eastern Region deputy chairman, and Tega Industries Group CEO and MD, said the emphasis on rare earth permanent magnets and creation of rare earth corridors would benefit mineral-rich eastern states.

"The Varanasi-Siliguri high-speed rail and the Dankuni-Surat freight corridors will be game changers for the region," he said, also welcoming plans to operationalise 20 new national waterways over five years.

Keshav Bhajanka, vice president of Indian Chamber of Commerce and executive director of Centuryply, called the Budget "balanced and well thought-through", citing the maintenance of the 4.3 per cent fiscal deficit target and record infrastructure spending of about Rs 12 lakh crore.

Dollar Industries managing director Vinod Kumar Gupta welcomed the Rs 10,000 crore MSME credit boost and the proposed National Fibre Scheme, saying it would enhance self-reliance in fibres and support employment in the labour-intensive hosiery sector.

Calcutta Chamber of Commerce president Anant Saharia said the Budget continues a forward-looking approach towards Viksit Bharat with a focus on manufacturing scale-up, industrial clusters, MSME financing and infrastructure, while maintaining fiscal discipline.

Bharat Chamber of Commerce president Naresh Pachisia said the record public capital expenditure of about Rs 12.2 lakh crore for FY'27 would drive growth in EPC, cement, steel and logistics, while helping MSMEs transition from "survival finance" to "champion building".

Bengal Chamber of Commerce and Industry president Abhijit Roy said, "The Union Budget 2026-27 reflects a well-calibrated approach that balances growth imperatives with fiscal consolidation. For West Bengal, the Budget delivers major connectivity gains, including a new dedicated freight corridor from Dankuni to Surat and an industrial corridor with Durgapur as the node -- strengthening regional logistics and trade integration. Overall, the Budget lays out a forward-looking roadmap for inclusive and sustainable growth, anchored in skills, jobs, and world-class infrastructure." FMCG player Emami Ltd vice chairman and MD Harsha Vardhan Agarwal said the continuity-driven Budget, with its emphasis on infrastructure, manufacturing, services and MSMEs, would strengthen India's long-term growth and job creation prospects.

Emami Group director Aditya Vardhan Agarwal said, "The Union Budget is a confident, future-oriented roadmap anchored in infrastructure-led growth and innovation. Measures such as high-speed rail, industrial corridors and the SME Growth Fund will boost jobs, productivity and export competitiveness, strengthening India's manufacturing ecosystem and long-term growth prospects." PTI BSM ACD

Union Budget 2026-27 boosts infrastructure and MSME support while targeting 4.3% fiscal deficit to ensure stability. The Union Budget 2026-27 targets a 4.3% fiscal deficit for FY'27 while delivering record public capital expenditure and major infrastructure allocations (including Rs 2.81 lakh crore for railways, high-speed and freight corridors, container manufacturing and ports). It introduces manufacturing and sustainability supports (chemical parks, Biopharma Shakti, carbon capture) and MSME-focused measures (a Rs 10,000 crore SME Growth Fund, expansion of the Self-Reliant India Fund, mandatory TReDS, enhanced credit guarantees and receivables securitisation).