It Will Be a Good Budget: Insights from Commerce and Industry Minister Piyush Goyal

Confidence in the Upcoming Budget

Commerce and Industry Minister Piyush Goyal expressed optimism regarding the 2026-27 Budget, set to be unveiled by Finance Minister Nirmala Sitharaman on February 1. Goyal stated, “It will be a good Budget… I am very, very confident that it will be a very good Budget,” during a recent interview with PTI.

Building on Past Successes

– Goyal highlighted that Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman have consistently delivered effective Budgets over the years.
– As Sitharaman prepares for her ninth consecutive Budget presentation, expectations are high that she will continue this trend.

Support for MSMEs

When questioned about potential support for Micro, Small, and Medium Enterprises (MSMEs), Goyal assured that the Modi government has been proactive in backing this vital sector. Key points include:

– The government has implemented a range of programs and initiatives focused on bolstering MSMEs.
– Goyal noted that the administration remains very conscious of the critical role that MSMEs play in India’s economic landscape.

Looking Ahead: Challenges and Opportunities

The upcoming 2026-27 Budget will be presented against a complex backdrop:

– Domestic Demand: While domestic consumption remains robust, inflation has eased from recent peaks.
– Global Factors: Ongoing global uncertainties—including geopolitical tensions, fluctuating commodity prices, and inconsistent monetary policies from major central banks—pose challenges.
– Key Priorities: The government faces mounting pressures to:
– Stimulate consumer spending.
– Accelerate job creation.
– Enhance capital expenditure, while maintaining a downward trajectory for the fiscal deficit.

The 2026-27 Budget presentation will mark a historic moment—scheduled for a Sunday in independent India’s history, emphasizing the government’s commitment to transparency and engagement.

Final Thoughts

As we approach the unveiling of the 2026-27 Budget, the sentiment from Minister Piyush Goyal reflects a strong belief in the fiscal strategy planned by the government. With a focus on supporting critical sectors like MSMEs and addressing economic challenges, this Budget aims to foster growth and stability in a fluctuating global environment.