Budget 2026: Reaction of Sri Biswanath Bhattacharya, President, FOSMI

By Kunal Chatterjee
The Union Budget 2026 sends a positive signal for growth and stability, with continued focus on infrastructure, manufacturing, and fiscal prudence. For MSMEs, the emphasis on credit flow, ease of doing business, and technology adoption is encouraging.

However, the real test lies in execution. Delayed payments to MSMEs, high input and energy costs, and compliance pressures continue to strain small industries. Budgetary intent must now translate into time-bound action, particularly on enforcing MSME payment discipline.
FOSMI expects stronger follow-through on interest subvention, export support, and cluster-based development to enhance MSME competitiveness. With effective implementation, Budget 2026 can meaningfully strengthen India’s manufacturing base and employment generation.