New Delhi: Managing Director and Chief Executive Officer of the National Stock Exchange of India (NSE), Ashishkumar Chauhan, on Saturday welcomed the Union Budget 2026–27, saying it strikes a fine balance between economic growth and fiscal discipline while preparing the ground for future-ready reforms.
Reacting to the Budget presented by Finance Minister Nirmala Sitharaman, Chauhan said, “The Union Budget 2026–27—the first from the Kartavya Bhavan and the ninth consecutive Budget by the Hon’ble Finance Minister—reinforces the message that strong growth and fiscal discipline can advance together.”
He pointed out that the Budget remains firmly on the consolidation path, with the fiscal deficit easing from 4.4 per cent to 4.3 per cent of GDP and the debt-to-GDP ratio declining from 56.1 per cent to 55.6 per cent.
“This signals macro stability and policy credibility to investors and markets,” he said
Chauhan highlighted infrastructure as the central growth driver, noting that public capital expenditure has been increased by around 12 per cent to ₹12.2 lakh crore.
According to him, the continued focus on infrastructure will help crowd in private investment, boost productivity and reduce logistics costs.
Welcoming measures to deepen financial markets, he said the calibrated increase in Securities Transaction Tax on derivatives, monetisation of PSU assets through REITs, introduction of bond index derivatives and a stronger market-making framework for corporate bonds would strengthen market stability.
He also said extending the income tax exemption for GIFT City from 10 to 20 years would make it more attractive for foreign portfolio investors.
The NSE chief further noted that renewed emphasis on municipal bonds would strengthen urban finance, while reforms in foreign exchange and capital markets would improve ease of doing business. He also welcomed the move allowing NRIs direct portfolio access to Indian equities, calling it a step towards tapping long-term diaspora capital.
Referring to the Budget’s focus on strategic sectors, Chauhan said prioritising areas such as semiconductors, artificial intelligence, advanced manufacturing, bio-pharma, rare earths, tourism and textiles would help drive innovation, exports and high-quality job creation.
“Overall, Budget 2026–27 combines fiscal prudence, infrastructure-led growth, market deepening and future-ready reforms, laying a strong foundation for India’s journey towards Viksit Bharat 2047,” he added.