The Goa Chamber of Commerce and Industry (GCCI) organised a live viewing of the Union Budget 2026–27 presented by the Hon’ble Union Finance Minister on 1st February 2026. This was followed by a press conference at which key representatives from Goa’s business and industrial community shared their perspectives on the Budget and its likely impact on the state’s economy.
Welcoming the Union Budget, Mrs. Pratima Dhond, President, GCCI, stated that the Budget is growth-oriented and addresses the expectations of the common people, while giving a strong push towards the vision of Sabka Saath, Sabka Vikas. She noted that to accelerate and sustain economic growth, the Hon’ble Finance Minister has announced targeted interventions across six key areas, including rejuvenation of legacy industrial sectors, creation of champion MSMEs, a strong push for infrastructure, long-term economic security and stability, development of city economic regions, and industry-led research and training centres to build a skilled and technology-ready workforce.
She further highlighted that initiatives such as Bharat Vistar, a multilingual AI tool integrating the agri-stack, and the creation of She Marts, community-owned retail outlets, will significantly empower women entrepreneurs.
Mr. Yatin Kakodkar, Vice-President, GCCI, described the Budget as highly progressive and reflective of India’s readiness to take a major leap forward. He pointed out that with economic growth consistently above 7% over the past few years, there is confidence that this momentum will continue. He appreciated the Government’s success in maintaining the fiscal deficit at around 4%, as promised, calling it a significant achievement. Emphasising infrastructure development as a core focus of the Budget, he welcomed the recognition of SMEs as a vital sector and the acknowledgement of cities as engines of economic growth. He also noted that special focus on tourism, development of waterways, east–west corridors, and the promotion of medical tourism will directly benefit Goa’s economy. Overall, he termed the Budget as “very positive and forward-looking.”
Dr. Sangam Kurade, Vice-President, GCCI, observed that the projected growth of 7.4% this year is a result of announcements made in the previous Budget. He stated that proposals related to tourism, youth skilling, institutes of hospitality, upskilling of manpower, and promotion of the orange economy will have a significant positive impact on Goa.
Mr. Manguirish Pai Raikar, Past President, GCCI, remarked that the Budget builds upon the foundation laid by previous Budgets and contributes meaningfully to national development under the vision of Viksit Bharat 2047. He noted that adequate allocations have been made to all growth-oriented sectors and that several new schemes are expected to attract increased investment into the country. He added that Goa must effectively capitalise on opportunities arising from schemes related to tourism and youth development, which will help scale the state’s economy to the next level.
MrRhaBhanarScrary, GCI and Charan, Taxan & Financial Srvic Cmitee, ointed out that this was the ninth consecutive Budget presented by the current Finance Minister and that GCCI’s expectations were largely met He highlighted several positives from what he termed the “Reform Express” Budget, including measures to reduce import dependency and strengthen MSMEs as champions of growth. He welcomed the move mandating Central PSUs to procure only from suppliers registered on TReDS and the integration of the GeM platform with TReDS. Treating receivables as assets for enhanced credit availability, training of Corporate Mitras through professional institutions, reduction of TCS to 2% on foreign tours, and allowing PAN to replace TAN in several processes were cited as significant steps towards ease of doing business. He emphasised that early and effective implementation of these announcements will be crucial..
M.VswbhAIBhpptheBuget’sfous o te the rts d hghghted the crucial role of the MME sector i ational production and eports. He welcomed measures such as centralised filing of orm 15H, introduction of three filing dates instead of two, and simplification of return forms under the new Income ax Act, stating that these steps would reduce compliance burden and last-minute rush. Overall, he noted that the Budget offers several simplifications and practical takeaways for taxpayers.
Mr. Shripad Parab, President, AGTPA, observed that this was the first Budget presented from Kartavya Bhavan and noted that it aligns with projected growth of 6.6% to 7.2% and a fiscal deficit target of 4.3%. He welcomed the reduction in TCS, new schemes for small taxpayers, procedural simplification in income tax filings, and the ambitious GST revenue target of ₹25.20 lakh crore.
Overall, industry leaders in Goa have received the Union Budget 2026–27 positively and expressed optimism that it will drive economic growth, promote innovation, and further improve the business environment in Goa and across the country.
