Indore/ Bhopal, Feb 1 (PTI) Industry and trade bodies in Madhya Pradesh, including representatives of disadvantaged sections, on Sunday hailed the Union Budget as pragmatic, stating that its provisions would boost economic and rural growth.

However, soybean processors called for greater policy focus on the crop, as Madhya Pradesh remains India's largest soybean-producing state.

Confederation of Indian Industry (CII) State Council Chairman Siddharth Sethi said the industry welcomed the Budget’s strong emphasis on MSMEs, employment generation and skill development.

"Strengthened credit access and enhanced support systems will meaningfully boost the MSME ecosystem, especially in Madhya Pradesh, where MSMEs form a crucial industrial base,” he said.

Dalit India Chamber of Commerce and Industry (DICCI) MP president Anil Sirvaia described the Budget as friendly towards the downtrodden.

"If the Union Budget is viewed in the context of Scheduled Caste and Scheduled Tribe communities, it focuses more on structural development and opportunity creation rather than specific announcements," he said.

Sirvaia highlighted provisions such as the Rs 10,000 crore MSME Development Fund, additional capital for the Aatmanirbhar Bharat Fund, increased liquidity through TReDS, and the establishment of "Corporate Mitra" centres.

He said these provisions would provide fresh momentum to micro and small enterprises, including those run by SC/ST entrepreneurs. However, he added that the Budget’s success would depend on effective implementation.

Association of Industries, Madhya Pradesh president Yogesh Mehta said the Budget focused on manufacturing and regional balance.

"This Budget will help achieve the goal of making India a developed nation by 2047," he added.

Confederation of All India Traders (CAIT) national vice-president Ramesh Chandra Gupta said the Budget would promote manufacturing and exports while benefiting traders.

Welcoming the Union Budget 2026–27’s strong thrust on agriculture and oilseed self-reliance, Soybean Processors Association of India (SOPA) chairman Dr Davish Jain said the enhanced allocation and stated intent reflected the Government of India’s commitment to strengthening the farm sector.

He emphasised the need for a sharper and more targeted policy focus on soybean and the edible oils ecosystem to achieve “true Aatmanirbharta”.

Jain said the budget could have further strengthened its impact by outlining specific interventions for soybean, a crop that plays a pivotal role in reducing India’s heavy dependence on edible oil imports. Madhya Pradesh is the country’s largest soybean-producing state.

Sawan Laddha, secretary of start-up body Invest Indore, said the budget signalled stability and long-term thinking for the information technology and start-up ecosystem.

"The special emphasis laid in the budget on digital infrastructure, skill development and ease of doing business for start-ups is commendable. If the budget proposals are implemented effectively, the technology sector and start-ups will gain fresh momentum even in smaller cities," he said.

Confederation of All India Traders (CAIT) Bhopal president Dharmendra Sharma welcomed the budget but sought simplification of the GST regime.

"The announcement to enhance credit facilities for the MSME sector and increased investment in infrastructure is a positive step and may give momentum to business activities," he said.

He said provisions related to logistics, urban infrastructure and transport are likely to increase business and employment opportunities in cities like Bhopal.

However, Sharma added that traders’ key demand for actual simplification of the GST process and relief from unnecessary notices and punitive action was not addressed through any concrete announcement in the budget.

Youth Economic Association president Devendra Vishwakarma hailed the budget, saying it was rural-centric and would bolster agricultural growth.

"An allocation of Rs 2.73 lakh crore for rural development and Rs 1.62 lakh crore for agricultural development will strengthen the rural economy. It is likely to improve the condition of farmers. However, there was a need for a special budget for agriculture-based industries and rural markets, which remains unaddressed," he said.

Vishwakarma, who is also an executive council member of the Indian Economic Association, said the budget focuses on the poor, youth, women and farmers, but expressed concern over education and employment.

"Allocations have been increased for important sectors such as agriculture, health and rural development,” he added. PTI HWP LAL NSK