The PHD Chamber of Commerce and Industry (PHDCCI) organised a post-Budget session on Union Budget 2026-27 in New Delhi on 4 February 2026, bringing together senior policymakers, economists and industry representatives.
The forum examined the Budget’s reform agenda, fiscal roadmap and implications for business growth and economic stability.
Revenue Secretary Arvind Shrivastava said the Budget introduces a structural overhaul of India’s tax administration. He noted that the reforms aim to empower taxpayers while cutting procedural complexity and discretionary intervention.
Arvind Shrivastava highlighted extended timelines for revised and updated returns. He also underscored the option to update returns during reassessment, combined assessment and penalty orders, and settlement mechanisms to reduce disputes.
Shrivastava said compliance will move from transaction checks to trust-based, entity-level oversight backed by digital systems and risk monitoring.
Chief Economic Adviser V Anantha Nageshwaran outlined the macroeconomic backdrop. He said the Budget sustains the reform momentum built since early 2025 and aligns closely with the Economic Survey.
Nageshwaran highlighted the focus on urbanisation. The government will sustain MSME support through credit guarantees and manufacturing funds.
It will back domestic manufacturing amid global fragmentation.
Nageshwaran also highlighted fiscal consolidation, record infrastructure spending of ₹12.2 lakh crore and improving sovereign metrics that support stable, non-inflationary growth.
Anil Gupta, Senior Vice President of PHDCCI, said the Budget arrives at a critical juncture. He added that it reinforces the government’s commitment to fiscal discipline and faster growth under the Viksit Bharat vision.
Anil Gupta cited measures such as the ₹10,000 crore SME Growth Fund, revival of industrial clusters and the Viksit Bharat Rozgar Yojana.
On direct taxes, Mukul Bagla said the Budget reflects strong stakeholder consultation. He welcomed lower TCS rates, simpler penalties, clear buyback taxation and land acquisition exemptions, but flagged high personal taxes and unresolved disputes.
Ashok Batra said indirect tax proposals address long-standing issues. He highlighted GST litigation relief, export benefits, faster refunds and customs simplification.
Other speakers underscored borrowing quality, tax simplification and implementation discipline.
PHDCCI also released its analytical Budget publication, stressing that effective execution and sustained government=industry collaboration will determine real economic outcomes.
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